LIVERMORE, Calif., May 30 /PRNewswire-FirstCall/ -- Power Air Corporation (OTC Bulletin Board: PWAC; the "Company") is pleased to announce that Mr. Remy Kozak has been appointed President and Chief Executive Officer of the Company. Mr. Kozak will take over for Mr. Stephen Williams.
Mr. Kozak has been with the Company as its Vice-President of Corporate Development since October 2005 and has been the driving force within the organization providing much of the Company's direction and strategy. Mr. Kozak was most recently "Entrepreneur in Residence" at iWorldGroup, a European Telecommunications incubator where he served in roles as both COO and CTO. Prior to that he founded and operated an Interim Management firm in Germany where he served in COO and other senior management roles with several small and medium sized businesses. Mr. Kozak holds a B.A.Sc. (Honours) in Computer and Electrical Engineering from Simon Fraser University and an MBA (1992) from the University of British Columbia.
Mr. Williams, who is vacating the position for personal reasons, has done an exceptional job as CEO helping the Company to structure its mgmt team and complete its first two financings. Mr. Williams will continue to work with the Company as a consultant; performing many of the same business development and financing roles which he has successfully provided for the Company since joining in September 2005.
States Mr. Dean Haley, Chairman, "we are very pleased to announce the appointment of Mr. Kozak to this Chief Executive position. Remy is an exceptional leader who can immediately complement the previous efforts of Mr. Williams. We are grateful that Mr. Williams will continue to provide his services to the Company and help to ensure our long term success."
Adds Mr. Kozak, "we are all extremely excited about the future of Power Air, and feel our timing in introducing our alternative fuel cell technology is excellent. Interest in our technology and our strategy from potential partners and the market has been exceptional and bodes well for us going forward. I would be remiss if I didn't personally thank Mr. Williams for his contributions to Power Air and for his ongoing support."
About Power Air Corporation
Power Air Corporation, with head office in Livermore, California, is engaged in the business of developing, manufacturing and marketing fuel cell based commercial products. Power Air has the exclusive worldwide license to zinc-air fuel cell technology that has been developed at the Department of Energy's Lawrence Livermore National Laboratory, in Livermore, California, for all fields of use (portable, stationary, light mobility and transportation applications) and commercialization.
For further information please call +1-925-960-8779 or visit our website at http://www.poweraircorp.com/.
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