|
Turbodyne Names John R. Adams As New CEO |
December 20, 2007 VENTURA, CALIFORNIA- Turbodyne Technologies, Inc. announced that John R. Adams has been appointed to the position of Chief Executive Officer of the Company. He has also been elected to the Board of Directors. Mr. Adams succeeds Albert F. Case Jr. who will remain a Director and will remain as Chief Operating Officer.
Since 1988 until 2007 Mr. Adams was President of Chemical Research and
Licensing Company, a unit of Shell Oil (NYSE-RDS-A), and Managing
Director of CDTECH, a joint venture with Lummus Technology Inc. Prior
to that position he worked for Polysar LTD, a Canadian petrochemical
company, subsequently acquired by Nova Chemicals (NYSE-NCX). Mr. Adams
led the acquisition of CR&L for Polysar. In 1997, CR&L was
acquired by Shell Oil. He retired from CR&L in 2007.
At CR&L and CDTECH, his responsibilities included everything to do
with acquiring, developing and running a worldwide provider of refining
and petrochemical technology. CDTECH has grown substantially and has an
excellent worldwide reputation, both with customers and competitors.
Many large refiners are customers in all parts of the world. Key
technology product areas, such as hydrogenation, gasoline
desulfurization and alkylation, were developed and successfully
marketed to produce cleaner burning hydrocarbon fuels more
economically. CDTECH has about 200 US patents and a large number of
patent applications worldwide.
Mr. Adams has a BSc in Chemical Engineering from the University of
London, England and an MBA from Wayne State University. His career has
focused on the development of strategy, technology, markets, purchasing
and human resources.
Mr. Adams will be responsible for the day to day operations of the
company and will lead Turbodyne's efforts to penetrate the market for
its patented TurboPacTM and TurboFlowTM technology. Mr. Adams'
extensive experience in the areas of intellectual property,
engineering, project management will be invaluable in our efforts to
address our markets.
Mr. Adams said "I am excited to be a part of Turbodyne. Our
intellectual property portfolio gives Turbodyne a serious head start in
our efforts to penetrate the automotive, marine and air handling
markets. Much effort has been spent in the last two years, to improve
the original designs, making them lighter and more efficient with
significantly improved control systems. With oil approaching $100 a
barrel, our new designs represent a significant opportunity to market
our technology on an international basis and should help the
utilization of both existing and new engines and fuels.
About Turbodyne Technologies, Inc.
Turbodyne Technologies, Inc. (TRBD.OB) is a developer of patented
electrically powered air movement and propulsion components that are
engineered to promote lower fuel consumption and address higher
emission standards for hybrid, gas and diesel internal combustion
engines.
Their patented TurboPacTM design reduces diesel pollution, eliminates
turbo-lag in gas and diesel engines and increases fuel economy through
both engine downsizing for hybrid, gas and diesel applications as well
as low-rpm fuel burn optimization for diesel trucks and busses.
The TurboFlowTM design provides computer-controlled,
variable high pressure, high volume air movement in a small,
lightweight, low power package for a variety of applications from
inflatable boat inflation and HVAC air movement to forced air induction
for internal combustion engines.
Contact:
Jason M. Meyers
917-546-6640
The information in this release 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. These forward-looking statements involve risks and
uncertainties, including statements regarding the Company's capital
needs, business strategy and expectations. Any statements contained
herein that are not statements of historical facts may be deemed to be
forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may", "will",
"should", "expect", "plan", "intend", "anticipate", "believe",
"estimate", "predict", "potential" or "continue", the negative of such
terms or other comparable terminology. Actual events or results may
differ materially. In evaluating these statements, you should consider
various factors, including the risks outlined in the Risk Factors in
other reports the Company files with the SEC. These factors may cause
the Company's actual results to differ materially from any
forward-looking statement. The Company disclaims any obligation to
publicly update these statements, or disclose any difference between
its actual results and those reflected in these statements. The
information constitutes forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.
|
|
|
