BAYTOWN, Texas, July 13, 2009 (GLOBE NEWSWIRE) -- Sustainable Power Corp. (Pink Sheets:SSTP) announced today that its Board of Directors has appointed M. Richard Cutler, Esq., Chairman of the Board in addition to his current positions of President and CEO. With this appointment comes acceptance of the resignation of John Rivera as Chairman and as an Officer. Mr. Rivera, the formulator and inventor of the SSTP technology, notified the Board of Directors of his decision after lengthy discussion.
Mr. Rivera commented, "Now that third party validation is underway by a world-renowned university, it is time for me and the company to focus on what is of paramount importance -- the ultimate commercialization of the SSTP process. My decision to resign from the Board is so that the Company can focus on the task at hand of commercialization of the process and to avoid any outside distractions."
"The shareholders and my former Board members could not be in more capable hands. During Mr. Cutler's tenure as President and CEO, he has invested long hours enabling SSTP to reach many milestones, with more to conquer over the coming months. He shares my vision for the success and development of the Company, and both a business and legal background to guide this company to the next step of development," Mr. Rivera continued.
"The SSTP process is secured and protected and will not be jeopardized by my departure, but I will be ready to advise Mr. Cutler and the Company on any matter, including the technology front," concluded Mr. Rivera.
"While I am humbled by Mr. Rivera's and the other Board of Directors' confidence placed in me, I would be remiss if I did not express my disappointment in seeing John Rivera resign as Chairman of the Board. Having worked with John for almost two years, I have come to respect him, marvel at his genius, and sadly realize that like many great inventors before him, such as Ford, Goodyear, etc., the day will come when his true genius and dedication to the betterment of mankind will be recognized, and in my opinion, it will be in the not too distant future," said M. Richard Cutler, President and CEO of Sustainable Power.
"Mr. Rivera has agreed to aid the Company as required and I assure everyone that I fully intend to see to it that he receives the recognition he justly deserves as the third party validation results are disseminated," stated Mr. Cutler.
About Sustainable Power Corp.
Sustainable Power Corp. is an international green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights in the United States to develop and manage a portfolio of green energy plants utilizing a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.SustainablePowerCorp.us.
The Sustainable Power Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6389
Safe Harbor Statement
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