CALGARY, June 20, 2017 /CNW/ - RocketFrac Services Ltd. ("RocketFrac"), a privately-held company developing an environmentally safe, proprietary fracing tool using solid rocket fuel, is pleased to announce that the Honourable Ronald R. Spoehel, former Presidentially-Appointed and U.S. Senate confirmed Chief Financial Officer (CFO) of the National Aeronautics and Space Administration (NASA), has been elected to serve as the Chairman of the Board of Directors.
Mr. Spoehel has over 35 years experience in the energy and technology sectors, including serving as an executive officer in various general management positions and on the Boards of public and private companies in the U.S., Canada, Latin America, and Europe. Following NASA, Mr. Spoehel founded and is Managing Partner of Windrock Capital and presently serves on the Boards of publicly-traded Profire Energy, STG Group, and Millennial Esports. Among various companies with worldwide operations, he has served in general management and/or on the Board of ICF Kaiser Engineers, Acer Group, Harris Corporation, Optinel Systems, ManTech, and ICx Technologies. Previously he was in investment banking at Bank of America and Shearson Lehman, and in program management at Hughes Aircraft. He is an honours graduate of the University of Pennsylvania, where he received his BS in Economics and MBA in Finance from the Wharton School and MSE from the Moore School of Electrical Engineering.
"Our team at RocketFrac is extremely excited to have Ron join the Board and especially step into the lead role of Chair", said Annelise Freeman, CEO of RocketFrac. "Since we first engaged Ron in initial discussions he has shown an extremely thoughtful and diligent interest in our team, in the development of our technology, and in the opportunities our technology will bring as an alternative to hydraulic fracing".
"I am pleased to join RocketFrac and its talented team who have already made tremendous progress in their proprietary development of an environmentally safe fracing technology. I am quite confident in Annelise, my fellow Board Members Jack Reeve and Skip Stone, and the RocketFrac team's ability to build and commercialize this transformative technology for the oil and gas industry," said Mr. Spoehel, RocketFrac Chairman.
About RocketFrac Services Ltd. ("RocketFrac"):
RocketFrac Services Ltd., a private Canadian company headquartered in Calgary, Alberta, is developing a proprietary new fracing tool, PSI-KICKTM, propelled by a customized blend of solid rocket fuel which will improve oil and gas well productivity. Environmentally safe, completely waterless, and optimizing well production efficiencies, PSI-KICKTM addresses some of the most pressing problems facing the oil and gas industry today while delivering sustainable and economic value for oil and gas producers and their stakeholders.
SOURCE RocketFrac Services Ltd.
For further information: Annelise Freeman, President and CEO, Tel: (403) 471-7631, Email: [email protected], www.rocketfracservices.com