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28 Jul 2008 07:00
Embargoed Release: 07:00hrs Monday 28 July 2008
Zenergy Power plc (`Zenergy' or the `Group') Directorate Changes
Zenergy Power plc (AIM:ZEN.L), the specialist manufacturer and developer of commercial applications utilising high-temperature superconductive (`HTS') materials, is pleased to advise that Mr. Christopher Nash has joined the Board as a non-executive director and that Ms. Karen Chandler, currently chief financial officer at Zenergy, is to become an executive director with immediate effect. The appointments acknowledge that as the Group rapidly moves towards its next growth stage, it is crucial to place appropriate individuals on the Board to better counsel and facilitate the management of Zenergy's product commercialisation. In due course, the Board anticipates the appointment of additional non-executive directors.
Chris Nash is a well known figure in the renewable energy and environmental sustainability sector. Previously, Chris was chief executive officer of Hydrodec Group plc, which specialises in providing environmentally sustainable advanced oil and chemical process technology, products and services to industry, and is currently a non-executive director of NTR plc, a leading international operator and developer in renewable energy and sustainable waste management. Chris is also a senior independent director at Hutchison China MediTech Limited, a China-based pharmaceutical and healthcare subsidiary of international conglomerate Hutchison Whampoa Limited and a non-executive director of EVO Electric Limited which develops electrical motors for hybrid and full electric vehicles.
During his 25 year business career, Chris held senior roles in prominent multinational companies including Global Crossing Ltd., where he was senior vice president and group head of strategy and corporate finance; in the mid 1990s he was group head of corporate finance at Cable & Wireless plc and prior to that he was a director at North West Water International Ltd. Chris trained as a civil engineer at Imperial College, London and, after completing an MBA at Manchester Business School, worked for S.G. Warburg and Co. Ltd., followed by a period in the venture capital sector.
Karen Chandler joined Zenergy as chief financial officer in September 2006, shortly after the Group listed on AIM. Previously Karen was an associate director at KPMG LLP where she specialised in transaction services. Karen has brought to the Group a wealth of financial control and corporate transaction experience. She also holds an executive MBA from Ecole Nationale des Ponts et Chaussĩes, France, a BSc in Mathematics and Economics and is a chartered accountant.
In conjunction with these appointments, Dr. Carsten Bƒ¼hrer and Mr. Woody Gibson have stepped down from their positions as executive directors of the Group but will become respectively chief executive officers of Zenergy GmbH and Zenergy Power Inc. Dr. Bƒ¼hrer will also retain his role as Zenergy's chief technology officer.
Michael Fitzgerald, non-executive chairman of Zenergy, commented:
`I am delighted to welcome Chris Nash to the Board. He has a wealth of experience and expertise in corporate finance in both the renewable energy and environmental sustainability sectors, which will be invaluable to Zenergy as it strives to be the leading provider of HTS applications in these essential markets. I am also pleased that, as our chief financial officer, Karen has joined the Board. Finally, whilst both Carsten and Woody are stepping down as directors in order to permit these Board changes, I would like to thank them for their significant input as executive directors in delivering the Group to the promising stage we have reached. I might also add that I take comfort in the knowledge we can continue to rely on their support and significant contribution as senior management at Zenergy.'
-Ends- Further information:Dr. Jens Mƒ¼ller Zenergy Power Plc + 49 22 26 90 60 200 Vikki Krause Hansard Group + 44 207 245 1100 Tom Hulme Landsbanki Securities (UK) Limited + 44 207 426 9000 About Zenergy Group plc
Zenergy Power plc is a global specialist manufacturer and developer of commercial applications for superconductive materials. Comprising three operating subsidiaries located in Germany, USA and Australia, Zenergy is highly focussed on the commercialisation of a number of energy efficient applications to be adopted in renewable energy power generation, energy distribution and large scale, energy intensive industrial processes and achieved the world's first commercial sale of an industrial scale HTS device in September 2007.
About superconductivity
Superconductive materials are capable of conducting electricity without any resistance and were first discovered in 1911 in what was to prove to be one of the most significant scientific breakthroughs of the 20th century.
AIM Rules Schedule 2 Disclosure - for the purposes of paragraph (g) of schedule 2 of the AIM rules Chris Nash holds or has held the following directorships:
Current Directorships Past Directorships over last 5 years Emscan Limited Current to Current UK Limited Evo Electric Limited Geoconference Limited
Hutchison China MediTech Limited Global Crossing (Bidco) Limited
NTR PLC Global Crossing Intermediate UK Holdings Limited Global Crossing (UK) Internet Services Limited Global Crossing (Holdco) Limited Global Crossing (UK) Telecommunications Limited Global Crossing (UK) Telecommunications Networks Limited Global Marine Systems Limited Hgci (Holco) Limited Hgci (UK) Limited Hydrodec Group PLC
No further disclosures are required to be made in relation to Chris Nash or Karen Chandler under Schedule 2 (g) of the AIM rules.
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