VANCOUVER, Jan. 2 /PRNewswire-FirstCall/ -- VRB Power Systems Inc. (TSX-V: VRB) announces the appointment of Brian Beck as Vice President Sales and Marketing.
Mr. Beck has over 30 years experience in the electrical industry in Europe and North America and has been actively involved in the restructuring of electricity supply on both continents. Most recently Mr Beck was General Manager of Caterpillar Energy Solutions where he had responsibility for initiatives in power quality and distributed generation. He also gained extensive management experience with Holec, a major European electrical engineering manufacturer, where he became CEO of its U.K. subsidiaries.
"I am very pleased to announce the addition of Brian to the VRB Power Management Team," said Tim Hennessy, Chairman and CEO of VRB Power. "Brian has a wealth of experience and contacts across the electricity industry in both Europe and USA and this together with his in-depth knowledge of power quality and distributed generation will greatly assist the Company as we look to penetrate our chosen markets."
"During 2006 we focussed our sales and marketing efforts on those markets where, at current pricing levels, our products provide a strong value proposition or solve major technical and other issues on a cost effective basis and we have developed a network of agents and distribution partners accordingly. Brian's appointment, and his particular skill set, will greatly assist us to continue to develop our sales channels and market opportunities," concluded Hennessy.
"I am delighted to be joining the VRB Power team at this time," said Brian Beck. "The opportunities for large scale energy storage continue to grow rapidly and in many areas of electricity supply the need to add storage is now becoming understood and acknowledged. Having watched the Company develop, I think VRB Power has the technology, and is positioned, to take advantage of the large opportunities that exist globally for its products," concluded Beck.
Brian Beck is a chartered engineer, registered with the European Federation of National Engineering Associations (FEANI), a member of the Institution of Engineering and Technology, the IEEE, and the Institution of Diesel and Gas Turbine Engineers.
The Company also announces the granting of 100,000 incentive stock options to Mr. Beck at a price of $0.60 CAD for a period of 5 years. These stock options are granted pursuant to the Company's stock option plan and are subject to regulatory approval.
About VRB Power
Headquartered in Vancouver, Canada, VRB Power Systems Inc. is an energy storage technology developer which is marketing, selling and manufacturing products utilizing the patented VRB Energy Storage System ("VRB-ESSTM"). The VRB-ESS can economically store and supply large amounts of electricity on demand and is focused on stationary applications. It is a long life, cost effective, low maintenance, efficient technology that allows for the scalability of power and storage capacity independently. The VRB-ESS is particularly beneficial to renewable energy providers, utilities and end users through its ability to "inventory" electricity, allowing for the optimal match of supply and demand.
The VRB-ESS is well suited for a variety of applications. Enabling the provision of "firm" capacity from intermittent renewable generation such as wind and solar; more cost effective and efficient generation of electricity in remote areas; capital deferral for utilities; and load levelling (peak shaving) applications. The VRB-ESS is also capable of providing backup power solutions including applications for utility sub-stations and telecommunication sites. The VRB-ESS is characterized by having the lowest ecological impact of all energy storage technologies and is unlike most other conventional energy storage systems that rely on substances such as lead or cadmium.
Caution regarding forward-looking statements: VRB Power's press releases may contain forward-looking statements. These statements are based on management's current expectations and beliefs which are subject to a number of known and unknown risks and uncertainties (including, but not limited to, the risk factors described in VRB Power's Annual Information Form filed with the British Columbia Securities Commission and available at http://www.sedar.com/) that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. The Company does not assume any obligation to update any forward-looking statements contained in this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Simon Clarke
Executive Vice President, Corporate Development
