Executive Leadership Team
Addition
January
16, 2018
"RGUS"
the Company"
The Board of Directors, Regi
U.S., Inc. and its wholly owned subsidiary, RadMax Technologies,
Inc., are pleased to announce that Michael Urso has accepted the
interim position of Chief Operating Officer (COO), Regi U.S., Inc.,
and will be transitioning into the role and title of Chief
Executive Officer (CEO) later this year.
Mike is a Senior Executive
with over 25 years of experience in the areas of Innovation,
Business Development, Marketing, Operations Management, and Sales
with companies ranging from startups to large global
corporations.
A skilled leader with an
impressive track record of transforming companies with commodity
based, or incremental innovation strategies into innovation
leaders, Mike has extensive experience mentoring startup companies
in successfully moving many from concept to commercialization.
Open, the nation's largest clean technology startup accelerator
program, whose charter is to find, fund, and foster entrepreneurs
with ideas to solve our greatest environmental and energy
challenges.for CleantechIn 2008 Mike was named "Mentor of the Year"
in the Pacific Northwest region [L1]
Prior to taking this
position, Urso served as the Vice President of Product Innovation
for Saint-Gobain's North American Gypsum business. While in this
position he moved Saint Gobain from a position of innovation
follower to being the innovation leader in the North American
gypsum industry.
During his extensive career
Mike has also held leadership positions as Senior Principal
Consultant, Sirti, a Washington State funded, high tech business
incubator with a successful track record of launching new companies
or guiding successful exits; Vice President of Marketing, Potlatch
Corporation, Wood Products and Resource Management Divisions;
Global New Business Development Manager and Global Composite
Materials Project Manager, Dow Chemical Company, Emulsion Polymers
Division; Operations Manager, Dow Chemical, Chemical and Metals
Divisions; North American Marketing Manager, Dow Chemical, Emulsion
Polymers Division; and Canadian Marketing Manager, Dow Chemical,
Emulsion Polymers Division.
Current CEO and Board
Chairman, Paul W. Chute, two years ago volunteered to rescue the
RadMax technology and rebuild the company with a new, solid
corporate foundation from which the technology could be further
developed and advanced. The resulting successes were due to the
building of a strong team of experienced business executives,
dynamic, diverse and internationally recognized engineering teams
and highly skilled and accomplish support
members.
With the recent announcement
of successfully testing the RadMax proof-of-concept gas expander,
Mr. Chute has accomplished his initial and primary goal of
rebuilding a series of failed companies into one dynamic corporate
entity with the single focus of further developing and proving the
RadMax technology.
Upon accomplishing this
initial goal, Mr. Chute's secondary objective was to replace
himself with a highly experienced corporate executive, proficient
in taking successful startups and leading their teams to
commercializing. The addition of Michael Urso to the leadership
team has now also completed that objective.
Mr. Chute is transferring
his role as CEO to Michael Urso on April 30th, 2018, at Regi U.S.,
Inc.'s Annual General Meeting in Spokane, WA.
Mr. Chute will retain his
position on the Board of Directors and continue on part time status
as Corporate Advisor. He also intends to work on projects that
support the health and growth of Regi U.S., Inc. and RadMax
Technologies, and continue to support Mr. Urso during his
transition.
We encourage all investors
and interested parties to follow our Company's progress routinely
posted on our website radmaxtech.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
Regi U.S., Inc.
Paul Chute, CEO
CONTACTS:
(509) 474-1040, pchute@radmaxtech.com
520 N. Market St. STE # 10
Spokane, WA. 99217-7800
ABOUT REGI U.S.,
INC.
RadMax Technologies, Inc.,
the wholly owned subsidiary of REGI U.S., Inc., is developing for
commercialization multiple improved axial vane type rotary devices
using our Patented RadMax Rotary Technology. This Technology allows
for revolutionary designs of lightweight and high efficiency
engines, compressors pumps and other devices. One current
prototype, The RadMax engine, has only two unique moving parts, the
vanes (up to 12) and the rotor, compared to the 40 moving parts in
a simple four-cylinder piston engine. This innovative design
makes it possible to produce up to 24 continuous power impulses per
one rotation that is vibration-free and extremely quiet. The
RadMax engine also has several capabilities allowing it to operate
on fuels including gasoline, natural gas, hydrogen, propane and
diesel. For more information, please visit radmaxtech.com
READER
ADVISORY
Statements in this press
release regarding the business of and REGI U.S, Inc. (together the
"Companies'") which are not historical facts are "forward-looking
statements" that involve risks and uncertainties, certain of which
are beyond the Companies' control. There can be no assurance that
such statements will prove accurate, and actual results and
developments are likely to differ, in some case materially, from
those expressed or implied by the forward-looking statements
contained in this press release. Readers of this press release are
cautioned not to place undue reliance on any such forward-looking
statements.
Forward-looking
statements contained in this press release are based on a number of
assumptions that may prove to be incorrect, including, but not
limited to: the impact of competitive products and pricing, the
Companies' dependence on third parties and licensing/service supply
agreements, and the ability of competitors to license the same
technologies as the Companies or develop or license other
functionally equivalent technologies; financing requirements;
changes in laws, rules and regulations applicable to the Companies
and changes in how they are interpreted and enforced, delays
resulting from or inability to obtain required regulatory approvals
and ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in the United
States, industry conditions, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
foreign exchange, stock market volatility and market valuations of
companies with respect to announced transactions. The Companies'
actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking
statements, including those described in Regi U.S., Inc.'s
financial statements, management discussion and analysis and
material change reports filed with the United States Securities and
Exchange Commission at www.sec.gov, and REGI's Form 10-K annual
report filed with the United States Securities and Exchange
Commission at www.sec.gov.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits, including the
amount of proceeds, that the Companies will derive
therefrom.
Readers are cautioned
that the foregoing list of factors is not exhaustive. All
subsequent forward-looking statements, whether written or oral,
attributable to the Companies or persons acting on its behalf are
expressly qualified in their entirety by these cautionary
statements. Furthermore, the forward-looking statements contained
in this news release are made as at the date of this news release
and the Companies do not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
REGI US (CE) (USOTC:RGUS)
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