|By Marketwired .||
|June 19, 2014 06:51 AM EDT||
TAMPA, FL -- (Marketwired) -- 06/19/14 -- HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and heat removal technologies, announced today that investor, entrepreneur, and corporate advisor Andrew B. Scherr has joined its Strategic Advisory Board. The Advisory Board is integral in advising HPEV's management and Board of Directors in its plan for positioning as well as the proliferation of its technology as the Company commercializes it in the initial three verticals: mobile generation, motors and generators and pumps.
Andrew Scherr has served on a number of public and private company boards of directors. Currently, Scherr serves as a Director to Massive Interactive, Inc., and Constellation Health Group. Mr. Scherr also manages equity and debt investments in a number of companies including Premium Wine Acquisitions, Capital Guardian, and Turbine Asset Holdings, LLC. Mr. Scherr received his B.S. in Electrical Engineering and Computer Science from Johns Hopkins University, his JD from the University of Maryland, and his Masters in Management degree from Yale University.
"With Andrew's engineering background and knowledge of the energy, alternative energy and vehicle markets, he truly understands the fit and impact for HPEV's technology in both OEM and end user markets," commented Timothy Hassett, HPEV's Chairman and CEO.
Formerly, Mr. Scherr was responsible for Fund Derivatives and Structured Products at Nomura Securities International, Inc. He also held a senior structuring role at Fortis Prime Fund Solutions (USA) LLC (now Credit Suisse). At both companies, he provided structured solutions to institutional investors and family offices with a focus on alternative investments. Mr. Scherr was also an investment banker at Deutsche Bank and at Salomon Smith Barney. As a management consultant at Accenture, he advised companies on strategic issues. In addition, Scherr has experience in venture capital, asset management, and corporate law.
"HPEV's technology is truly revolutionary and has tremendous growth potential. Management is currently moving forward by helping OEMs achieve significant competitive advantages in three different markets," noted Scherr. "I am looking forward to advising the Company as it leverages its technology in the initial three markets and the many that will follow."
"We are very pleased to have Andrew join our team," said Theodore Banzhaf, HPEV's President. "Andrew will provide valuable perspective as our business grows and we expand into new markets."
About HPEV, Inc.
HPEV, Inc. is an intellectual property and product development company that employs a license and royalty model. The company has expertise in thermal dispersion technologies and their application to various product platforms. The Company is currently commercializing its patented thermal technology and has additional patents-pending for various OEM applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include myriad of industries such as pumps, fans, compressors, batteries, motors, generators and bearings
Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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