| CLEVELAND--HydroGen
Corporation (OTCBB: HYDG), a development stage company that manufactures
multi-megawatt air-cooled phosphoric acid fuel cell (PAFC) systems through
its wholly-owned subsidiary HydroGen LLC, announced today the appointment
of three new members to its Board of Directors. Mr. John Freeh, Dr. Howard-Yana
Shapiro and Mr. Brian Bailys join the Board as directors, expanding HydroGen's
Board to five members, including executive directors Dr. Leo Blomen, HydroGen's
Chairman and CEO, and Joshua Tosteson, HydroGen's President.
Dr. Blomen said, "Our new board members
bring a wealth of experience, and we look forward to the benefit of their
wise counsel and active engagement. Their insights and knowledge will greatly
facilitate the execution of our strategic plan as we work to bring HydroGen
through the development stage and position it to achieve profitability.
Mr. Freeh and Dr. Shapiro possess deep technical understanding of the industries
and countries that complement HydroGen's business plan, while Mr. Bailys's
background includes firsthand experience with developmental stage enterprises.
We enthusiastically welcome them to our board."
Mr. Freeh is the president of Lockheed
Martin Systems Management, an $800 million management services company
within Lockheed Martin's Technology Services operating unit. He is also
responsible for the oversight and integration of all of Lockheed Martin
energy-related activities including Nevada Technologies, Inc., Sandia,
Inc., LMAES, Inc., and a joint venture operating the Atomic Weapons Establishment
in the United Kingdom, AWEML, LLC. Prior to his current position, Mr. Freeh
spent more than 27 years at KAPL, Inc., one of only two joint Department
of Energy/Navy laboratories dedicated to Naval Nuclear Propulsion research,
design, testing and training of reactor operators for the US Nuclear Navy.
John also serves on the boards of The Red Cross, Burlington County N.J.,
and Cerebral Palsy of New Jersey. He holds a BS in Engineering Physics
from Lehigh University and an MS in Electrical Engineering from Rensselaer
Polytechnic University.
Dr. Shapiro has been involved with
sustainable agricultural and agroforestry systems, plant genetics and food
production systems around the world for more than 35 years. During his
long and diverse career, Dr. Shapiro was a university professor for 15
years, twice a Fulbright Scholar, twice a Ford Foundation Fellow and a
winner of the National Endowment for the Humanities Award. Dr. Shapiro
has ongoing sustainability projects in Brazil, Panama, Ecuador, Ghana,
Vietnam and Sulawesi concerning cacao agroforestry, agroecology, agroeconomics
and landscape issues in the neo-tropics. He was an investor in Seeds of
Change, and in 1991 he joined their board and held positions of increasing
responsibility until the company was acquired by a multi-brand, internationally
known food company in 1997. Following the acquisition, he became the Director
of Plant Science for that company while maintaining his role as Vice President
Agriculture/R&D for Seeds of Change. Additionally, he is the Director
of the Multi-Disciplinary Research Unit, a collaboration between the international
company and the University of California, Davis. He was appointed to the
Millennium Agriculture Assessment of The World Bank as an Author on the
Global Synthesis in 2005, and in 2006 he will chair the organizing committee
for a National Academy of Sciences international cacao science symposium.
Brian Bailys is the Principal of
The Bailys Group, a consulting firm he founded in 1993 to provide his high
net worth client base income tax, estate tax and financial planning services.
A certified public accountant since 1983, Mr. Bailys began his career as
a Federal, State and Local tax specialist and an IRS Audit Support person
for the Michigan-based accounting and consulting firm of Plante and Moran.
Mr. Bailys has participated in strategic planning with numerous "early
stage" companies. He is currently serving on the board of Life Settlement
Insights (a life settlement company) and Life-X (first online exchange
for the sale of life insurance policies). Mr. Bailys has served as treasurer
of the United Cerebral Palsy Cleveland Chapter, a board member of the Parent
Volunteer Association for retarded children and adults and the Beachwood
Chamber of Commerce. He received his Bachelor of Science Degree in Business
Administration from Ohio State University in 1981, and he is a member of
the Ohio Society of Certified Public Accountants.
About HydroGen Corporation and HydroGen,
LLC
HydroGen Corporation, through its
wholly-owned subsidiary, HydroGen, LLC, is a developer of multi-megawatt
fuel cell systems utilizing its proprietary 400-kilowatt phosphoric acid
fuel (PAFC) cell technology. Utilizing fuel cell technology originally
developed by Westinghouse Corporation, the company targets market applications
where hydrogen is currently available and other drivers favoring the adoption
of fuel cells are present.
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