Sustainable Power Corp. Board of Directors Appoints M. Richard Cutler, Esq. as Chairman...

Mon Jul 13, 2009 1:26pm EDT
 
[-] Text [+]
Sustainable Power Corp. Board of Directors Appoints M. Richard Cutler, Esq. as
Chairman of the Board

BAYTOWN, Texas, July 13, 2009 (GLOBE NEWSWIRE) -- Sustainable Power Corp. (Pink
Sheets:SSTP) announced today that its Board of Directors has appointed M.
Richard Cutler, Esq., Chairman of the Board in addition to his current positions
of President and CEO. With this appointment comes acceptance of the resignation
of John Rivera as Chairman and as an Officer. Mr. Rivera, the formulator and
inventor of the SSTP technology, notified the Board of Directors of his decision
after lengthy discussion.

Mr. Rivera commented, "Now that third party validation is underway by a
world-renowned university, it is time for me and the company to focus on what is
of paramount importance -- the ultimate commercialization of the SSTP process.
My decision to resign from the Board is so that the Company can focus on the
task at hand of commercialization of the process and to avoid any outside
distractions."

"The shareholders and my former Board members could not be in more capable
hands. During Mr. Cutler's tenure as President and CEO, he has invested long
hours enabling SSTP to reach many milestones, with more to conquer over the
coming months. He shares my vision for the success and development of the
Company, and both a business and legal background to guide this company to the
next step of development," Mr. Rivera continued.

"The SSTP process is secured and protected and will not be jeopardized by my
departure, but I will be ready to advise Mr. Cutler and the Company on any
matter, including the technology front," concluded Mr. Rivera.

"While I am humbled by Mr. Rivera's and the other Board of Directors' confidence
placed in me, I would be remiss if I did not express my disappointment in seeing
John Rivera resign as Chairman of the Board. Having worked with John for almost
two years, I have come to respect him, marvel at his genius, and sadly realize
that like many great inventors before him, such as Ford, Goodyear, etc., the day
will come when his true genius and dedication to the betterment of mankind will
be recognized, and in my opinion, it will be in the not too distant future,"
said M. Richard Cutler, President and CEO of Sustainable Power.

"Mr. Rivera has agreed to aid the Company as required and I assure everyone that
I fully intend to see to it that he receives the recognition he justly deserves
as the third party validation results are disseminated," stated Mr. Cutler.

About Sustainable Power Corp.

Sustainable Power Corp. is an international green energy total service provider
focused on environmentally safe power generation. The company has the exclusive
rights in the United States to develop and manage a portfolio of green energy
plants utilizing a renewable fuel source able to be produced from non-food feed
stock. For more information please visit www.SustainablePowerCorp.us.

The Sustainable Power Corp. logo is available at 
http://www.globenewswire.com/newsroom/prs/?pkgid=6389

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. When
used in this press release, the words "anticipate," "believe," "estimate,"
"may," "intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and uncertainties
associated with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor performance,
the impact on the national and local economies resulting from terrorist actions,
and U.S. actions subsequently; and other factors available from the Company.

-0-
CONTACT:  Fusion Consulting Group, LLC.
          Investor Contact:
          (702) 434-8692

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video