Part of ongoing preparation for company's first commercial operations
CALGARY, June 9 /CNW/ - Pristine Power Inc. (TSX: PPX "Pristine" or the
"Company") is pleased to announce the appointments of Jim Fitzowich, Vice
President, Asset Management, and José Menéndez, Vice President, Business
"Our first two commercial operations - Enpower and East Windsor - are on
schedule for startup in the third quarter of 2008 and 2009 respectively and
these new appointments will strengthen our operating capabilities and ready
Pristine for success in the next round of project bidding in British Columbia
and Ontario," said Mr. Jeffry Myers, President and Chief Executive Officer.
Mr. Fitzowich is an electrical engineering graduate with over 20 years of
experience in engineering, development, operations and acquisitions with major
Canadian power companies. Mr. Fitzowich will be responsible for the management
and optimization of the ongoing operations of Pristine's generating assets
with an initial focus on the transition to operations of the Company's Enpower
ERG(R) and East Windsor Cogeneration projects.
Mr. Menéndez is a mechanical engineering graduate with over 18 years of
experience in the electricity generation business, including extensive project
execution experience and green energy technology development. He will be
responsible for the Company's continued business development activities in
central and eastern Canada and will manage the development of the gas-fired
generation project to be proposed by Pristine in response to the Ontario Power
Authority's Northern York Region Request for Proposals. An affiliate of
Pristine is one of five bidders pre-qualified in this process.
"The appointments of Jim and José underline Pristine's commitment to
delivering positive operating results for the Company's three projects in
construction and enhancement of the Company's prospects for new successful
projects in central and eastern Canada", said Mr. Jeffry Myers, President and
Chief Executive Officer.
Cautionary Statement Regarding Forward Looking Information
Certain statements in this news release may constitute "forward-looking
information" or "forward-looking statements" which involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking information. When used in this
news release, such information uses such words as "estimates", "expects",
"plans", "anticipates" and other similar terminology. This information
reflects the Company's current expectations regarding future events and
operating performance and speaks only as of the date of this news release.
Forward-looking information involves significant risks and uncertainties,
should not be read as a guarantee of future performance or results, and will
not necessarily be an accurate indication of whether or not such results will
be achieved. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking information.
Although the forward-looking information in this news release is based upon
what management of the Company believes are reasonable assumptions, the
Company cannot assure investors that actual results will be consistent with
this forward-looking information. This forward-looking information is provided
as of the date of this news release, and, subject to applicable securities
laws, the Company assumes no obligation to update or revise such information
to reflect new events or circumstances.
Pristine was founded in 2002, and is in the business of developing,
owning and operating independent power plants that will produce and sell
electricity and in some cases, sell process steam to industrial users.
Pristine capitalizes on opportunities in the independent power market by
actively pursuing the development of dependable, cost-effective and
environmental responsible power generation facilities utilizing technology
with proven past performance. Pristine pursues a mix of large gas-fired and
bioenergy generation and hydroelectric projects and smaller replicable waste
heat recovery ERG(R) and bioenergy projects. Pristine currently has three
projects under construction, and one under contract and in advanced
development. Pristine is actively developing projects in Ontario, British
Columbia and Alberta. More information on Pristine can be found on the
Company's website at www.pristinepower.ca.
For further information:
For further information: Jeffry M. Myers, President & Chief Executive
Officer, Telephone: (403) 444-5571, Fax: (403) 444-6784; Geoffrey D. Krause,
Chief Financial Officer, Telephone: (403) 444-6405, Fax: (403) 333-6784