Capstone Turbine Expands its Board of Directors with Key Industry Expertise
CHATSWORTH, Calif.--
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today Holly Van Deursen and Gary Mayo have been appointed to Capstone's Board of Directors effective October 11, 2007.
Holly Van Deursen currently divides her time between entrepreneurial activities (advising and investing in start-up companies) and non-executive director roles (Petroleum Geo-Services, Anson Industries and a not-for-profit school).
Van Deursen served as a member of British Petroleum plc's Top-Forty Executive Team. She served in various executive groups addressing strategic issues, including the Environmental Remediation Oversight Group, across the $250 billion oil, gas, and energy company and assuring delivery of operational results. Prior to these executive leadership positions, Holly held a variety of senior roles with British Petroleum and Amoco Corporation in Chicago, London and Hong Kong. Holly has a particular interest in alternative and renewable energy and has had considerable interaction with the alternative energy businesses within British Petroleum. She has previously been on the Board of the American Chemistry Council, as well as Amoco joint ventures in Korea, Taiwan and Japan.
"I am honored to have been asked to join the Board of Capstone," said Ms. Van Deursen. "Having worked in the oil and gas industry for many years, I have an appreciation for the opportunities Capstone has to provide a clean and green power solution for offshore and onshore platforms."
Gary Mayo is currently Vice President of Energy and Environmental Services for MGM MIRAGE in Las Vegas, Nevada. Gary has served on boards and advisory committees for numerous sustainability-oriented organizations and has spoken on sustainability and corporate social responsibility at colleges, universities and business conferences around the globe, including the CEO Forums for the Sustainable Business Institute.
Prior to his current position with MGM MIRAGE, Gary spent 30 years with the Ford Motor Company and Visteon Corporation where he rose to become a Director of Global Customer Service, the Director of Distributed Power Generation, the Director of Environmental Affairs and most recently, the Director of Government Affairs and Corporate Responsibility, among others. Gary also has significant familiarity with microturbines having supplied all the power electronics, power conversion and air handling systems for a microturbine manufacturer during his tenure at Visteon Corporation.
"I am delighted to become a member of the Board of Directors of Capstone Turbine Corporation and to become a part of the company's future course to success as the world's leading purveyor of reliable, clean, and efficient distributed generation systems," said Gary Mayo.
Commenting on the addition of the two new Board members, Eliot Protsch, Chairman of Capstone's Board of Directors said, "Our Board is very pleased to have Holly and Gary join Capstone. Their combined extensive business experience in the oil and gas, automotive and hospitality industries respectively, coupled with their alternative energy and environmental knowledge, make both of them very valuable additions to our expanded Board."
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over four thousand Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, with regard to, among other things, the future success of Capstone. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
Source: Capstone Turbine Corporation
Released October 9, 2007
