TORONTO, March 4, 2019 /CNW/ -- CELLCUBE ENERGY STORAGE SYSTEMS INC. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB: CECBF) (Frankfurt 01X, WKN A2JMGP) is very pleased announce Henk van Alphen to the board of directors. Mr Alphen, an entrepeuner in the service and mining industry with the ability to raise large amounts of capital, he is associated with raises of $800,000 million in last 10 years. Henk has had long career of high value M&A transactions and adding shareholder value. He has been directly involved in Pacific Rim Mining Corp, Corriente Resources, Cardero Resources, Trevali Mining, Balmoral Resources and International Tower Hill Mines.
Henk is currently CEO and a Director of Wealth Minerals Ltd., which is focused on minerals for the energy storage industry. He is presently also a director of Blackrock Gold Corp., Ethos Gold Corp., Ltd. and Centenera Mining Corporation. https://wealthminerals.com/corporate/management-team/
Henk van Alphen states: "I am delighted to join the CellCube board at this juncture. While we are experiencing tremendous demand in the battery metals market, I see the complementary synergy in both metals - Lithium and Vanadium being the future mainstream battery materials. CellCube combines the strength of a vertically integrated manufacturer of vanadium redox flow batteries and the understanding of the underlying demand for resources in the whole battery space. We see from my engagement in the Chilean Lithium mining segment how battery metals will be essential for decades to come."
Mr. Alphen will be replacing Mr. Philip G.Hughes, as a independent director of the company. The Board of Directors wishes to thank Mr. Hughes for his leadership and guidence in finance and corporate matters. Philip was a highly regarded member of the board and the Company thanks him for his service and wishes him the best in the future. Mr Hughes resignation is effective February 27, 2019.
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy.
CellCube supplies vertically integrated energy storage systems to the power industry and recently acquired the assets of Gildemeister Energy Storage GmbH, now renamed Enerox GmbH, the developer and manufacturer of CellCube energy storage systems. CellCube's other related subsidiaries are EnerCube Switchgear Systems and Power Haz Energy Mobile Solutions Inc. The Company has also invested in an online renewable energy financing platform, Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage systems on the basis of vanadium redox flow technology and has over 136 project installations and a 10 year operational track record. Its highly integrated energy storage System solutions features 99% residual energy capacity after 11,000 cycles (cycling daily for 28 years) and larger scale containerized modules. Basic building blocks consist of a CellCube unit family with 4, 6 and 8 hours variation in energy capacity.
On Behalf of CellCube Energy Storage Systems Inc.,
Mike Neylan, CEO
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CELLCUBE ENERGY STORAGE SYSTEMS INC.