International Power Group, Ltd. Appoints New Board Member
04 Mai 2010 - 9:13PM
International Power Group, Ltd. (Pink Sheets:IPWG), a leading
provider of waste-to-energy solutions, including waste-to-energy
development and waste-to-energy technologies, announced that the
Board of Directors, as part of the Company's Funding Agreement, and
in an effort to bring "green" financing experience to the Board,
unanimously voted in favor of the appointment to the Board of
Directors of Mr. Alessio Rovitti.
Mr. Rovitti is Director of IFI Srl, a financial and estate
investment group based in Italy. Mr. Rovitti has over ten (10)
years of experience in insurance, equity and debt financing and the
investment of estate and family office investments. Before forming
IFI Srl, Mr. Rovitti gained experience in investing and banking as
a banker and equity trader in Italy for various trading houses. Mr.
Rovitti has gained a vast amount of experience in investing and the
financing of "green" energy projects including wind farms,
waste-to-energy (WTE) facilities and related "green" energy
projects. Mr. Rovitti represents the investment group that has
provided the credit facility to IPWG for its construction of its
Koryciska, Poland WTE facility.
John Benvengo, IPWG's President and Chief Executive Officer
stated, "We are excited to have Alessio on our Board and look
forward to his insight and experience in project development and
financing for 'green' energy projects." Mr. Benvengo further
stated, "I have worked with Alessio now for several months in
planning for and financing of the IPWG Poland plant and respect his
view and contribution to the overall process. Alessio has great
skill that I believe will add great value to IPWG and its
Board."
About International Power Group, Ltd.
International Power Group, Ltd., is a leader in the development
and implementation of new cutting-edge technologies that maximize
recycling values while providing environmentally safe disposal of
solid waste and hazardous materials. Through the application of
these new technologies, solid wastes and hazardous materials can be
minimized to their maximum extent while producing significant
secondary benefits such as clean energy and clean water. Founded in
2004, IPWG is a publicly traded company, listed on the
Pinksheets.
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
The forward-looking statements are based on current expectations,
estimates and projections made by management and include statements
regarding Mr. Rovitti's future contributions to IPWG and the Board.
The Company intends for the forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates," or variations of such
words are intended to identify such forward-looking statements. All
forward-looking statements in this press release are made as of the
date of this press release, and the company assumes no obligation
to update these forward-looking statements other than as required
by law. Such statements are subject to risks and uncertainties that
could cause actual results to vary materially from those projected
in the forward-looking statements, including the risk that such
contributions may not be as great as anticipated or that our
development and financing activities for green energy projects may
not be successful. These statements relate only to events as
of the date on which the statements are made, and our future
results, levels of activity, performance or achievements may not
meet these expectations. We do not intend to update any of the
forward-looking statements after the date of this document to
conform these statements to actual results or to changes in our
expectations, except as required by law.
CONTACT: International Power Group, Ltd.
John Benvengo, CEO/President
407-566-0318
www.i-pwg.com
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