CORAL GABLES, Fla., Jan. 14, 2013 -- PowerVerde Inc. (NASDAQ: OTCQB PWVI) ("PowerVerde" or the "Company"), a developer of renewable thermal powered electricity generator systems, today announced the appointment of Hank Leibowitz , a noted expert in the field of advanced thermal energy systems, to the newly created position of senior design engineer. This position was formed in anticipation of the launch of the Company's next generation Liberator, a waste heat-to-energy electrical generation system.
Mr. Leibowitz has over 35 years' experience in the development of organic rankine cycle (ORC) and related thermal technologies and is currently Principal of Waste Heat Solutions LLC www.wasteheatsol.com.
"We are thrilled to have secured a preeminent authority in the thermal or waste heat energy sector," commented Rick Davis , CEO of PowerVerde, Inc. "Hank's background, working with the most notable names and innovators in the thermal space (Ormat, Pratt Whitney , Electratherm), combined with pioneering industry breakthroughs over the past three decades, should accelerate our efforts to deliver a commercial, state of the art thermal energy system in the near future."
Hank Leibowitz stated, "I'm excited to come on board as their Senior Design Engineer. I followed PowerVerde's claims of an efficient, small scale, thermal energy system operating on extremely low temperatures with healthy skepticism. PowerVerde agreed to share technical information and actual screen shots of their data log and system tests from an independent engineering firm. Having seen credible data, I visited their lab in Phoenix AZ and after two days of hands-on due diligence and witnessing a working system, combined with my industry knowledge of potential competitors, I was convinced of PowerVerde's viability to deliver a best of breed system capable of operating on low temperatures sources and with price points that make ROI sense. I look forward to working with the entire team to help bring this game-changing, new generation thermal energy system to the market."
PowerVerde, Inc. (OTCQB: PWVI) manufactures advanced renewable electric power generator systems comprised of pressure expansion motors operating on low temperature heat sources. These systems make electricity without fossil fuel--- from any low grade heat source. PowerVerde is an environmentally friendly green company producing zero emissions or waste stream byproducts. PowerVerde's renewable energy technology is non-dependent on government subsidies due to an impressive return on investment (ROI) model. For more information about PowerVerde, please visit our web-site www.PowerVerdeEnergy.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with better products and/or greater financial resources, the impact of competitive pricing and the termination or limitation of alternative energy incentive programs. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
AMERICAN CAPITAL VENTURES
SOURCE PowerVerde Inc.