Hydrogen Engine Center Announces Resumption of Science Role for Hollinger
2008年11月27日 - 5:39AM
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Hydrogen Engine Center, Inc., (OTC BB: HYEG) (the �Company,� �HEC�)
developer, manufacturer and distributor of turn-key
alternative-fuel energy solutions for the industrial and power
generation markets, today announced that Ted Hollinger, founder and
Chairman of HEC, has advised the HEC Board of Directors of his
intention to relinquish his responsibilities as Chairman of the
Board, member of the Board and his positions as Acting President
and CEO of the Company. Mr. Hollinger wishes to stay with the
company as Chief Scientist. Mr. Hollinger's decision to step down
from his management and board positions with the company was
prompted in large part by health concerns. Mr. Hollinger will
devote his efforts to the maintenance and future development of HEC
patents and other proprietary technology. "At present," said Mr.
Hollinger, "I am unable to continue the general management of the
company and still provide the energy required to pursue science and
invention for the Company�s benefit. When I realized I had to
simplify my life, it was an easy decision for me to choose the role
of scientist over the role of manager. I will continue to
participate, on behalf of the company, in scientific meetings,
investor meetings, and consultations to provide expertise and
guidance as needed for continued growth and development of HEC�s
technology and other intellectual property.� In response to Mr.
Hollinger�s request, the Board of Directors has named Michael
Schiltz, currently the Vice President of Operations at HEC, as
Acting President of HEC Iowa and HEC Nevada and has appointed Mr.
Schiltz to the Board of Directors of those entities to fill the
position vacated by Mr. Hollinger. The Board has also announced the
appointment of David McManamy as the Interim Chairman of the Board
for HEC Iowa and HEC Nevada. It is the Company�s intention to move
with deliberate speed to facilitate a smooth transition into the
new era for Hydrogen Engine Center. About Hydrogen Engine Center,
Inc. Hydrogen Engine Center, Inc. (the �Company,� �HEC�)
manufactures and distributes turn-key alternative-fuel energy
solutions for the industrial and power generation markets. HEC
systems, when coupled with traditional wind-driven generators,
enable the generation of constant power, something that
wind-turbines on their own cannot do. HEC systems do this by using
the excess energy produced by wind turbines to first make Hydrogen,
and then use this Hydrogen to power a proprietary engine/generator
system to produce electricity during windstill times. The Company
trades on the Bulletin Board under the symbol �HYEG.OB.� Principal
offices are located at 2502 E Poplar St., Algona, Iowa 50511. Visit
www.hydrogenenginecenter.com or in the US dial 515-295-3178 for
more information. This press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including without limitation, acceptance of the
Company's products, increased or unforeseen levels of competition
for the Company, new products and technological changes, the
Company�s ability to hire and retained qualified employees, the
Company's dependence on third-party suppliers, the availability of
capital and other risks detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission.
Hydrogen Engine Center (CE) (USOTC:HYEG)
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Hydrogen Engine Center (CE) (USOTC:HYEG)
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