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CHARLESTON, SOUTH CAROLINA, Oct 12, 2007 (Marketwire via COMTEX) -- Global Marine Ltd. (PINK SHEETS:GLBM) today announced that its board of directors elected Dr. Charles Pownall, PhD to its Board of Directors, and has appointed him as the Company's Director of Research, effective immediately.
Dr. Pownall is a specialist in Solar and Wind Energy, Energy Storage, Computer Engineering, Spatial Mathematics and Advanced Magnetic Field Physics. With more than 30 years experience in design, development, and research in the fields of alternative energy systems, energy storage, and biomass to energy, Dr. Pownall has contributed to numerous patents in the energy storage, energy creation and energy transmission industries, as well as many innovative system designs used throughout the clean energy verticals.
Dr. Pownall has also worked extensively in the fields of alternative energy development, advanced nanotechnology, and has established an outstanding reputation for developing innovative and efficient solutions to complex technological problems. His clients have included the Bank of Montreal, Credit Suisse, Department of Transport Canada, Department of Communications Canada, Jet Propulsion Laboratory, the Defense Advanced Research Projects Agency (DARPA), Jannock Industries, Domtar, and various other U.S. Federal Agencies.
"Global Marine Ltd. is well aware that new innovations in solar and wind energy technology are providing the opportunity for the Company to develop more efficient and more profitable products and services", said Dr. Pownall. "Global is developing new, cost-effective, marine-based technologies for use in energy systems which offer significant environmental benefits and will definitely play an increasingly important role in the world's solar and wind energy product pool".
Dr. Pownall added, "The US wind power market, the world's largest in terms of annual MW additions for the past two years, will see unprecedented growth over the next decade. With installed wind capacity expected to grow from 11,600 MW in 2006 to nearly 61,000 MW by 2015, this market will average over $5 billion per year over the forecast period. Global Marine's management is positioning the Company to provide innovative maritime solutions, using renewable energy resources, to their worldwide client base. Marine-based wind farms offer many advantages over land-based wind-generated power stations, and over time will become common-place as a significant clean energy source for ever increasing global energy requirements."
Global Marine Chair, Douglas Beatty, stated," We are delighted with Dr. Pownall's new association with our Company. We believe that there are many research and technological synergies to be created between Global Marine and his CleanClimate Research Group, Dr. Pownall's principal research organization. At CleanClimate, he directs a group of renowned leading scientists, worldwide; developing commercialized, innovative solar and wind technologies. The team's proprietary solar and wind technologies include highly-advanced energy collection and storage. CleanClimate Research Group is spearheading exciting developments globally, in sustainable alternative energy research and production along with further research and deployment of ocean hydro power systems, and we welcome the opportunity to be a part of these exciting developments."
About the CleanClimate Group (www.cleanclimate.ca)
CleanClimate's clean energy business is comprised of four integrated business units: Solar and Wind Energy, Clean Energy Research and Innovations, Capital Market Financing, and Limited Partnerships. Through these units, CleanClimate provides advisory, research and transaction services for the development of the numerous clean energy products and projects that the Group is bringing to market. The CleanClimate Research Group is wholly-owned by Solar Bancorp Inc., a Toronto-based clean energy management company.
About Solar Bancorp Inc.
Solar Bancorp (Solar) is a global-reach, clean-technology, alternative-energy, financial services company, focused on creating and distributing clean energy financial products through private placements and joint-ventures, for the deployment of new solar energy technology. It provides financial, scientific, sales, marketing, and senior managerial partnership and assistance services to alternative energy and clean-tech start-ups, as well as existing clean-tech companies interested in expansion.
About Global Marine Ltd.
Global Marine Ltd. (Global) is recognized for providing new innovations in the oceanographic & maritime arena. Global is developing new cost-effective marine-based technologies in energy systems which offer significant environmental benefits. These efficient and more profitable products and services will play an increasingly important role in the world's solar and wind energy product pool. Leading-edge technology and projects are selected that offer the Company and its shareholders exceptional growth opportunities. Global is currently focusing on the American, Latin and South American marketplaces, where the company has developed long-term relationships and recognized growth opportunities. As a United States Government contractor with CAGENCAGE numbers, CAC with security clearances, Global is positioned to be involved in Department of Defense agreements, awarded business contracts, or may submit proposals on other Government tendered opportunities & projects to further corporate growth objectives.
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