Dan Ustian, former Chairman & CEO of Navistar joins the Board as Another Important Step Toward HPEV’s Commercialization Plan
(Tampa, FL: September 17, 2014) HPEV, Inc. (OTCQB:WARM), an innovator and intellectual property company in energy generation, delivery, efficiency and heat removal technologies in the mobile generation, motor/generator and pumps/compressors sectors, announced today that Daniel Ustian has joined its Strategic Advisory Board. The Advisory Board is an integral part of HPEV’s overall strategic commercialization plan from which Ustian will be a driving force in advancing the Company’s technology with an emphasis on Mobile Generation.
Mr. Ustian’s insight, vision and 37 years of auto industry experience and connections will help propel HPEV’s thermal technology solutions throughout an industry plagued with heat related issues. HPEV’s multiple platform heat solutions allow OEMs to capture cost savings and energy efficiencies for numerous products, giving them a technological advantage in the marketplace.
“HPEV has developed an exciting technology platform that I believe can influence dramatic changes in the vehicle marketplace on several different levels. The Company’s mobile generation technology is unlike anything on the market today. I’m confident I can help HPEV make a big impact in the market with its technology and I look forward to actively affecting that impact,” commented Ustian. “The Company has a very impressive team of engineers with great intellectual property and excellent manufacturing partners.”
Mr. Ustian’s addition rounds out HPEV’s Strategic Advisory Board with a total of five outstanding professionals who are helping to lead HPEV’s proliferation of its technologies across the Company’s three current business verticals: Mobile Generation, Motors and Generators and Pumps and Compressors. The team includes: Richard Schul, a 43 year motor and generator veteran and industry insider who, most recently, served as Emerson Electric’s Group Vice President of Emerson Climate Technologies, and; Andrew Scherr, an accomplished investor and entrepreneur who has helped many companies grow value for investors and served on a number of public and private company boards of directors, and; Scott Van Dorn, a veteran of more than twenty years in global engineering and management in vehicles, engines, electronics and design for large scale commercial applications, including serving as Ford’s Chief Engineer and Senior Manager for the high volume F-Series line, and finally; William Finley, a forty year veteran of Siemens who currently serves as the Chief Technology Officer for Siemens Industry, Inc. Drive Technology leading engineering, development and technology which encompasses motors, drives and mechanical drives. Management of HPEV is very pleased to have such a distinguished Advisory Board to help drive the Company’s growth.
Mr. Ustian served as Chairman of Navistar, Inc. beginning in 2004, President and Chief Executive Officer beginning in 2003, and a director beginning in 2002 until 2012. Prior to serving in these positions, Ustian was President and Chief Operating Officer of the Engine Group of Navistar, Inc. He also held the position of Group Vice President and General Manager of Engine & Foundry from 1993 to 1999. Ustian was also director of Monaco Coach Corporation and of AGCO Corporation and a member of the Business Roundtable, Society of Automotive Engineers. He is a Member of the Society of Automotive Engineers and the American Foundry Association and participates in the Electrical Council for the Economy. Mr. Ustian holds a Bachelor’s degree in Business Administration from DePaul University in 1972.
Timothy Hassett, HPEV’s CEO commented, “Dan is a great addition to our Board of Advisors. He will help us drive our Mobile Generation business in addition to our other platforms. We are extremely pleased to have someone of Dan’s experience, industry knowledge and acumen join our Advisory Board. He is a well-known and respected automotive industry executive and innovative business leader and he will help us as we proliferate our technology this year and beyond.”
About HPEV, Inc.
HPEV, Inc. is an intellectual property and product development company that employs a license and royalty model. The company has expertise in thermal dispersion technologies and their application to various product platforms. The Company is currently commercializing its patented thermal technology and has additional patents-pending for various OEM applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include myriad industries such as pumps, fans, compressors, batteries, motors, generators and bearings.
Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company’s plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company’s business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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