CELEBRATION, Fla., Sept. 21, 2010 (GLOBE NEWSWIRE) -- International Power Group, Ltd. (Pink Sheets:IPWG), a provider of waste-to-energy solutions, including waste-to-energy development and waste-to-energy technologies, announced today the appointment of John Gildea, Ken Kinsella, Edward Szofer and Blaise Foglietta to the Board of Directors of the Company. Mr. Gildea will Chair the Board's Hiring Committee and Mr. Foglietta replaces Alessio Rovitti as the representative of the funding group.
John Gildea is a member of a private equity group based in Europe which operates mainly in the Green energy sector. Already involved in a number of Green energy projects throughout Europe and the USA, they specialize in bringing small-cap companies funding, projects and access to higher markets.
Ken Kinsella is currently the Chairman & CEO of Global Resources Corporation and has substantial private equity and M&A experience. Edward Szofer is currently the CEO of Seneca Global Inc and similarly has substantial public company, M&A and accounting experience. Blaise Foglietta is currently a Portfolio Manager at Pic Finance SA in Geneva, Switzerland and has almost forty years of finance experience.
"Mr. Gildea comes with both financial and engineering experience and his addition to the board, together with the addition of the other new Board members, is expected to open many doors to IPWG in the short and medium term," stated John Benvengo, the Company's CEO.
Mr. Gildea stated, "It is my privilege and honor to serve on the Board and work on behalf of the shareholders. IPWG is in the midst of an exciting undertaking and I along with the new Board members look forward to continued growth and executing on the opportunities that lie ahead."
About International Power Group, Ltd.
International Power Group, Ltd. is in the business of the development and implementation of new cutting-edge technologies that maximize recycling values while providing environmentally safe disposal of solid waste and hazardous materials. Through the application of these new technologies, solid wastes and hazardous materials can be minimized to their maximum extent while producing significant secondary benefits such as clean energy and clean water. Founded in 2004, IPWG is a publicly traded company, listed on the Pink Sheets.
This document 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. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. All forward-looking statements in this press release are made as of the date of this press release, and IPWG assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the risk that the development of the waste system in Poland may not proceed as anticipated or that the project financing will remain in place for the duration of the project.
CONTACT: International Power Group, Ltd. John Benvengo, CEO/President 407-566-0318 www.i-pwg.com