FuelPositive Announces Key Appointments to Team
(“FuelPositive” or the “Company”) is delighted to announce the appointment of Nelson Leite as its Chief Operating Officer and a member of the Board of Directors, as well as a number of other key appointments and personnel changes. The Company has been assembling a stellar team of experts to guide it through Phase Two of its growth. No longer solely an R&D company, FuelPositive now has a strong Board, a highly qualified Executive Leadership Team and a growing group of Strategic Advisors to ensure the excellence of its work as it commercializes its lead technology – carbon-free ammonia (NH3).
Nelson brings to FuelPositive over 30 years of experience in various positions as CEO, CTO and VP of Sales and Marketing, including over 20 years as CEO of the robotics and automation company he founded in 1994 and sold in 2014. He began his career as a tool maker through Conestoga College and continued his studies in the mechanical and electrical engineering fields. As a mechatronics specialist, Nelson has led the development of several technologies and inventions including AI software, robotics and machine development, leading to several patents. Nelson has successfully created and executed multiple strategic plans for the path of new technologies from inception to commercialization in the automotive, pharmaceutical and consumer goods industries which are utilized by companies such as Toyota, Tesla and Pfizer, to name a few.
“The team and I are thrilled to have Nelson join us at this pivotal time. He brings decades of experience in the most sophisticated manufacturing processes and disciplines to the Company, right at the time that we are advancing our breakthrough carbon-free NH3 technology. Nelson also cares deeply about the importance of our work related to eliminating carbon emissions,” said FuelPositive CEO and Board Chair Ian Clifford.
Olushola (Shola) Ashiru also joins the FuelPositive Board of Directors as an Independent Director. Based in New York City, Shola is a Partner and Portfolio Manager at New Energy Fund (NEF) II. She has worked in the field of clean technologies since 2007. Shola co-founded New Energy Fund II (a NEF Advisors company), which is a private equity yield fund set up to take equity positions in high yielding renewable energy projects ranging from biofuels, fuel cells, solar and wind, and other fossil fuel replacement technologies, to efficiency and storage options. She started her career in Cleantech Equity Research, then Equity Capital Markets at Ardour Capital Investments. Shola serves as a judge in the annual New York Business Plan Competition, the annual Cleantech Open Northeast competition, and also the annual National Renewable Energy Laboratory’s Industry Growth Forum.
“We are delighted to have Shola join our Board of Directors,” said Ian Clifford. “Her knowledge of the clean technologies sector and capital markets will give us critical insights as we continue to develop our core technology – carbon-free ammonia – and plan our future creating and developing technologies and solutions to fight climate change.”
Francois Desloges has joined FuelPositive’s Executive Leadership Team as Senior Research Scientist. François has over 25 years of experience in high tech entrepreneurship. With a degree in electrical engineering from Polytechnique de Montreal, he has developed core electronic systems, software applications and material science for start-up companies. An out-of-the-box-thinker obsessed with quality, François has always preferred small teams and projects with the potential to disrupt the status quo. In recent years, he has enjoyed contributing to ventures that resonate with his ethical values, whether in the area of privacy or the transition to carbon-free energy sources.
“I have had the pleasure of working with Francois for many years and I know that he brings a level of passion, thoroughness and professionalism to every project he is involved in. Francois is also deeply committed regarding the absolute necessity for profound environmental change. He is a great addition to our like-minded team,” said Clifford.
Jennifer Spencer has also joined the Company’s Executive Leadership Team as Director of Communications. Jennifer is a veteran strategist and leader in cause-related communications with a career spanning 40 years. Initially a journalist, she moved to public relations where she worked in leading international and Canadian agencies. She founded and served as President for nine years of Veritas Communications, which quickly became a Canadian sector leader, providing public and government relations services. She directed communications for Canadian Blood Services through its launch and early years to re-establish the trust of Canadians after the Canadian tainted blood tragedy, and worked in the not-for-profit sector for CNIB (Canadian Institute of the Blind), Heart & Stroke and March of Dimes Canada.
“Jennifer is a consummate communicator and a person who has managed communications for some of the most important and sensitive issues of our time. We are excited to have her join the FuelPositive team as our scope and message grows to an international level. Jennifer thrives on ensuring that complex messages are accessible to everyone, and we have already experienced her special touch on much of our communications and messaging to date,” added Clifford.
Greg Gooch, BEng, MBA, is retiring as President and a Board Member of the Company and will remain involved as a Strategic Advisor. Greg has been involved with FuelPositive since its early days and remains an important supporter and consultant to the Company.
“Greg has contributed heavily to FuelPositive, providing much-valued guidance as we navigated the early days as a Company. We all wish him well in this new phase of his life,” said Clifford.
You can watch an interview about this news release with Ian Clifford, FuelPositive CEO, on our YouTube channel: https://youtu.be/_5yv2DD1tnk
In connection with the appointments of Nelson Leite and Olushola (Shola) Ashiru, the Company has granted them an aggregate of 3,500,000 incentive stock options exercisable at a price of $0.185, until September 8, 2026. The options vest over a period of 18 months, with one-quarter vesting immediately and a further quarter vesting every six months thereafter.
About Fuel Positive
FuelPositive is a Canadian growth-stage technology company committed to providing commercially viable and sustainable “cradle to cradle” clean energy solutions, including carbon-free ammonia (NH3), for use across a broad spectrum of industries and applications. By focusing on technologies that are clean, economically advantageous/ realizable and that leverage existing infrastructure, the Company aims to change the course of climate change through practical solutions that can be implemented now.
The Company’s core technology, carbon-free NH3, takes air, water and sustainable electricity and converts it to a non-polluting chemical for multiple applications, fertilizer for farming, fuel for combustion engines and a solution for grid storage. It is being considered as a replacement for fossil fuels and as the enabler of the hydrogen economy.
FuelPositive is currently building its Phase 2 Hydrogen-Ammonia Synthesizer commercial prototype systems with partner National Compressed Air Canada Ltd. This will confirm the broad application potential for its carbon-free NH3 technology. The modular and transportable systems, which are being built to shipping container configurations, will be adaptable to multiple applications.
Production of the prototype systems is scheduled to be completed by the end of 2021, with demonstration pilot projects being planned for 2022. The Company is initially focusing on the agriculture sector where farmers will be able to produce carbon-free NH3 on their farms and use it to fertilize their fields and fuel their farming equipment, generators, coolers and grain drying equipment.
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements.
These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking information is provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
Investor Relations (U.S.):
RBMG – RB Milestone Group LLC
Trevor Brucato, Managing Director