(TSXV: BPR)
MISSISSAUGA, ON, Feb. 2, 2012 /CNW/ - The Board of Directors of blutip Power Technologies Ltd. ("blutip Power" or the "Company") today announced that Peter Williams will assume the role of Executive Chairman of the Company effective immediately.
Additionally, the Company announces that Dean Dussias has resigned his position as Director, Interim CEO, COO & CFO effective immediately. The Board thanks Mr. Dussias for his efforts during the Company's transition and wish him continued success in his future endeavours.
The Company has begun a search for a CEO candidate and will also seek to fill a role within the Board of Directors in conjunction with the Annual General Meeting of Shareholders.
About blutip Power
blutip Power is a technology company headquartered in Mississauga, Ontario, Canada. The Company has invested in the research and development of hydrogen and control technology resulting in a proprietary, patented and patent-pending hydrogen generating system ("HGS®") and advancement in multi-fuel universal combustion controls. blutip Power's Hy-Drive HGS enriches the fuel-air charge of an internal combustion engine with hydrogen produced through electrolysis and uses its proprietary software controls to improve combustion of the fuel-air mixture. The result is improved fuel economy and reduced opacity (particulates).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Peter Williams
Chairman
Tel: (905) 542-3024 ext. 234
Email: [email protected]
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