Fuel Cell Companies listed in Canada

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SAY Sparta names Eldred and Ludwig new officers

2005-04-06 12:44 ET - News Release

Mr. Tom Brown reports

SPARTA CAPITAL LTD. ANNOUNCES NEW OFFICERS

Sparta Capital Ltd. has named Revett Eldred to join Sparta's senior management team as vice-president of marketing and business development. Raymond S. Ludwig, general manager of Sparta's Hy-Drive distribution project, has accepted the position of vice-president of operations.

Mr. Eldred founded Minerva Technology, a Calgary-based computer services and custom system development company, in 1985. The company was profitable every year of its existence. Twelve years after incorporation, it was debt-free, had no outside investors, employed 250 people, and sold for cash. During 2004, Mr. Eldred was entrepreneur in residence at Calgary Technologies Inc., a business incubator, providing guidance and mentoring to technology entrepreneurs in the Calgary region.

Ted Rousseau, president of Sparta, reports, "Mr. Eldred is a key addition to our management team, bringing years of valuable business experience and a reputation for business excellence that is recognized across Canada and internationally." Mr. Eldred will focus on the development of market opportunities for the revolutionary Hy-Drive hydrogen generating system in Sparta's master agency territories across the Asia-Pacific region.

Mr. Eldred attended the Royal Air Force College and the University of Birmingham in England and later graduated from Harvard Business School's owner-president management program. Mr. Eldred's company, Minerva Technology, was twice ranked among Canada's 50 fastest-growing businesses and was a 1991 winner of the prestigious Canada Award for business excellence. Minerva was rated by Microsoft as one of that company's three best partners worldwide and twice won awards for best computer applications developed using Microsoft products. Mr. Eldred was once ranked Calgary business person of the year and was profiled as one of ten successful immigrants in the Canadian government pavilion at the Seville World Fair.