Dallas, TX – July 6, 2011 – Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly traded renewable energy holding company which concentrates its resources on rapidly advancing the inevitable, worldwide utilization of solar power through a unique roll-up strategy, today announced the appointments of Carl Hefton, a partner with Dallas Social Venture, and Ron Seidel, PE, a principal of RBS Energy Consulting, to its Board of Directors (BOD).
“Ron is an industry veteran who has the credentials and experience to drive our business goals in the solar energy marketplace, and Carl has the background and financial expertise to guide our corporate development,” says Michael Gorton, Principal Solar CEO and chairman. “As solar power takes on an increasingly dominant role in renewable energy, the addition of these professionals to our team will forge critical strategic approaches for acquiring existing properties and technologies, establishing company priorities, and developing and implementing new commercial projects.”
Hefton, who brings more than 35 years experience to Principal Solar, is a member of the advisory boards for the College of Business at the University of North Texas, the Dallas after School Network, and the Richardson Hospital Authority. He was a founding partner of Entrust Capital Advisors and CEO and president of Viscern, Inc., as well as a certified public accountant with Arthur Anderson & Co. Hefton graduated summa cum laude from the University of North Texas with a B.B.A. in Accounting.
Seidel served as president of Texas Independent Energy; senior vice president of Energy Supply at City Public Service of San Antonio; senior vice president of Fossil Generation and Mining; and president of TXU Energy Trading. He earned his M.B.A from Cox School of Business at Southern Methodist University and a bachelor’s degree in mechanical engineering from New Mexico State University.
About Principal Solar
Principal Solar, Inc. (PSI; OTC Pink: PSWW), is a publicly traded renewable energy holding company which concentrates its resources on the acquisition, finance, development and management of solar power companies to rapidly advance the inevitable utilization of solar power. The company is building the world’s first online library dedicated exclusively to the field of solar energy – a 24-hour gateway to current information, perspectives and thought-leadership: www.definitivesolarlibrary.com. Visit www.PrincipalSolar.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this release regarding future plans, expectations, projections, events or conditions are forward-looking statements. Actual results including business plans and results, integration benefits and demand growth could differ materially as a result of a variety of factors including our ability to achieve the value creation goals of the reverse merger; promptly and effectively integrate businesses; alter management time on integration-related issues; make changes in longer-term solar energy prices or other market or economic conditions affecting the solar energy industry; control political or regulatory developments; foresee technical or operating difficulties; predict political events or disturbances; manage the outcome of commercial negotiations; avoid wars and acts of terrorism or sabotage. We cannot guarantee that any of the events anticipated by this forward-looking statement will not occur and, if any of them do occur, we cannot control the subsequent potential impact they might have on our operations or financial condition. We assume no duty to update these statements in the future. References to resources in this release include quantities that are not yet classified, as “proved reserves” under SEC definitions, but that we believe will ultimately be produced.
CPR for PSI