Fidelis Energy Announces Appointment of Eric Esposito to Board of Directors and Brings Aboard Two New Executives to Advance FDEI
March 10 2010 - 4:00PM
Marketwired
Fidelis Energy Inc. (PINKSHEETS: FDEI) ("Fidelis" or the "Company")
today announced several changes in management to strengthen the
Company's focus and future direction.
Eric Esposito, the recently appointed COO of the Company, has
been appointed to the Board of Directors. "With the addition of
Eric to the Board, we now have the formation of a team committed to
the Company's vision for the future and who understand the
direction we are heading," stated James Poole, CEO of Fidelis.
"Eric's understanding of the market, contacts within the clean
energy area, and business savvy, will be a big help as we evaluate
the opportunities before us."
Simultaneously, the Company announced the appointment of Demyan
Bondarenko as the Director of Solar Project Development and Fedir
Ruzicka as the European Solar Energy Operations Manager. Mr.
Bondarenko has an extensive background in large scale renewable
energy projects with recent emphasis on solar development in the
Czech Republic; Mr. Ruzicka, a resident of the Czech Republic, has
extensive background in solar development specific to site
permitting, negotiations of grid interconnect and energy off-take
agreements.
"I am excited to have Demyan and Fedir join our developing team
and look forward to their management of our solar projects both
internationally and domestically," said Eric Esposito. "I look
forward to their assistance with the Solar projects that we are
developing in the European Union. One of the driving forces to push
for Solar energy in EU is the high Power Purchase Agreements they
have entered into providing $.54 per kWh as compared to the United
States where kWh prices range between $.12 to $.18. In many cases
we can get 4 times the revenue for the same amount of power
generated in Europe vs. the United States."
Mr. Poole continued, "We are excited that in such a short time,
we have been able to tap into two experienced executives who share
the vision we have for Fidelis."
In other news, the Company is continuing to work with its
lawyers to begin the final leg for bringing the company current
with the OTC Pink Sheets and looks forward to having that completed
early April 2010.
About Fidelis Energy Inc.
Fidelis Energy Inc. ("FDEI") is an energy company focused on
developing, constructing and operating solar energy projects
exclusively or in partnership with other energy companies. Fidelis
is also in the development stage of designing solar photovoltaic
(PV) cell technology products and plans to manufacture and
distribute these products in the future.
Fidelis owns a unique patent pending solar cell technology based
on photovoltaic cells with integral light-transmitting wave guides
in a ceramic sleeve. The advantage of this technology is the
efficiency of less exposed surface area being required to generate
electricity. The light-transmitting particles act as wave guides
and allow the sun-exposed conversion area of the solar cell to be
shifted readily from horizontal to vertical to capture more
sunlight. The ceramic sleeve eliminates the need for expensive
vacuum chambers, thereby allowing less expensive materials to be
used in solar cell production.
We are developing, with plans to eventually manufacture and
market, innovative solar cells and solar power products for a wide
range of applications based on our technology that increases
light-trapping while enabling a variety of materials to be used.
Our technology employs multiple stacked solar cells in a ceramic
sleeve that uses nano-particles and crystal wave guides to carry
light from the opening down to the last junction in the solar cell.
Competitors' processes that use vacuum chambers (instead of a
ceramic sleeve) generally don't allow for material substitution
because of contamination issues. We believe our technology will
also allow manufacturers to quickly and economically shift to new
materials if a shortage of any one type of material occurs. In
general, our technology will offer a flexible, cost-effective
solution for increased light-trapping and will provide increased
efficiency.
Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the Act and Section 21E of the
Securities Exchange Act of 1934. Statements in this press release,
which are not purely historical, are forward-looking statements and
include any statements regarding beliefs, plans, expectations, or
intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
the development of an early stage company in the alternative energy
industry, its products, and the entry into new markets for such
products. These forward-looking statements are made as of the date
of this news release, and the Company assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although the Company believes that the
beliefs, plans, expectations, and intentions contained in this
press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's current and periodic reports filed from time to time
with the Securities and Exchange Commission.
Contact: Fidelis Energy Inc. James Pool President 800-925-2381
info@fidelisenergyinc.com
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