Atargis Energy Corporation Announces First Additions to Newly-Formed Senior Advisory Team

PUEBLO, Colo, July 7, 2022 /PRNewswire/ -- Atargis Energy Corporation announces the formation of a team of Senior Advisors to be led by board member Michael Egan. A 40-year plus energy-industry veteran, Michael has previously served as CEO of Exelon Enterprises, Executive VP of Exelon Corporation, CFO of PECO Energy and Chairman of AmerGen. Mr. Egan will help lead and coordinate the activities of the Senior Advisors in addition to his board duties.

"We're pleased to be gaining the support of industry leaders like Michael Egan and prominent energy professionals like Vice Admiral Dennis McGinn and Dr. Jeff Roberts," said Atargis founder and CTO, Dr. Stefan Siegel. "Ocean wave energy has long held tremendous potential as a renewable resource and our disruptive cycloidal wave energy converter (CycWEC) design will enable affordable, grid-scale power from ocean waves in the very near future."

"We're privileged to welcome two distinguished energy professionals to our team of Senior Advisors to help guide the company in that mission," Egan stated: "Admiral McGinn and Dr. Roberts have already provided great perspective and made meaningful contributions towards our efforts in the past couple of weeks."

Vice-Admiral Dennis McGinn (USN Ret.) is a member of the board of directors of the Electric Power Research Institute (EPRI). He served as Assistant Secretary of the Navy for Energy, Installations and Environment, Deputy Chief of Naval Operations and as Commander of the United States Third Fleet. He is a senior advisor to the Scripps Institute of Oceanography, and a former President of the American Council on Renewable Energy (ACORE).

"The timing for this innovation could not be better, and the potential rewards more compelling," Admiral McGinn emphasized. "Atargis is developing a breakthrough solution that will offer an order of magnitude improvement in power output and cost per kilowatt hour of electric power compared to legacy wave energy devices. I'm especially excited about the potential that exists to combine Atargis CycWECs with offshore wind turbines to smooth output, improve grid stability and reduce requirements for storage."

Dr. Jeff Roberts is a physicist, renewable energy consultant and advisor. He was formerly Director of Advanced Energy Technologies at Lawrence Livermore National Laboratory, where he also served as a staff scientist and Program Leader for Renewable Energy and Applied Energy Technologies.

Jeff also happens to be a hydrofoil surfing enthusiast. He recalls that he became intrigued by the CycWEC as soon as he learned that Atargis was harnessing hydrodynamic lift forces to generate power. "There are significant potential advantages," Roberts explained. "Atargis is using the same aerospace design principles and feedback control approach that America's Cup yacht designers began applying just a decade ago when they began to add sub-surface hydrofoils to generate lift and reduce drag. The lift-based CycWEC design could have the same kind of game-changing impact here as well," Roberts offered. "It's a very promising approach."

About Atargis Energy Corporation: Atargis Energy Corporation (Pueblo, CO) has developed an innovative twin hydrofoil-based wave energy converter technology that has the ability to deliver affordable electric power at grid-scale from ocean waves. The company's submersible cycloidal wave energy converter (CycWEC) features a proprietary feedback control system that combines real-time sensors, predictive algorithms, and machine learning to automate control of the device to enable maximum efficiency power conversion. The CycWEC will scale to 1.25MW, 2.5MW and 5MW generator sizes and operate affordably across a range of wave climates and sea states across the globe. For more information, visit www.atargis.com.

Contact: Freia A. Siegel
Phone: (719) 214-8815
Email: [email protected]

SOURCE Atargis Energy Corporation