CleanTech Innovations, Inc. Welcomes Seasoned Corporate Executives to Its Board of Directors as Independent Board Members

NEW YORK, July 14 /PRNewswire-FirstCall/ -- CleanTech Innovations, Inc. (OTC Bulletin Board: EVCPD; website: www.ctiproduct.com; "CleanTech"), a U.S. company and a market leader in China's clean technology solutions in the wind and utilities industries, announced today that CleanTech has appointed three independent board members of the Company and has formed three independent committees with the new members of the board of directors.

Ms. Bei Lu, Chairman & CEO of CleanTech commented: "CleanTech strives to continuously enhance our corporate governance practices as a public company. We are honored and welcome these highly qualified executives to our Board of Directors serving as Chairmen of various independent committees. We look forward to submitting our listing applications to a national stock exchange in the near future."

The bios of the three executives are as follows:  

Mr. Arnold Staloff, Age 65

Chairman of Audit Committee

Mr. Staloff started his professional career in 1968 at the U.S. Securities & Exchange Commission. Mr. Staloff served as a director for Lehman Brothers Derivative Products Inc. from 1994 until October 2008. Mr. Staloff currently serves as the Chairman of Audit Committee at NASDAQ listed SmartHeat Inc., a plated heat exchange system manufacturer, since 2008, and NASDAQ listed Deer Consumer Products, Inc., a kitchen electronic product manufacturer, since 2009. From December 2005 to May 2007, Mr. Staloff served as Chairman of the Board of SFB Market Systems, Inc., a New Jersey-based company that provided technology solutions for the management and generation of options series data. During 1989 and 1990 Mr. Staloff served as President and CEO of The Comex (The Commodities Exchange.) From June 1990 to March 2003, Mr. Staloff served as President and Chief Executive Officer of Bloom Staloff Corporation, an equity and options market-making firm and foreign currency options floor broker. From 2007 until his resignation in July 2010, Mr. Staloff served as the Chairman of Audit Committee at NASDAQ listed Shiner International, Inc., a packaging and anti-counterfeit plastic film company, and NASDAQ listed AgFeed Industries, Inc., a feed and commercial hog producer.  Mr. Staloff has been credited with the founding of Options on Foreign Currencies and the precursor to SPYDERS.  For well over a decade, Mr. Staloff has been a continuous subject of biographical record in Who's Who in America.

Mr. Shuyuan Liu, Age 60

Chairman of Nominating Committee

Mr. Liu is a former director at China Huaneng Power International, Inc, one of the five largest power producers in China engaging in the development, construction and operation of large power plants until 2008.  He is currently the Chairman of Liaoning Energy Investment (Group) Co., Ltd., a large Chinese government  authorized investment company specialized in investments in the energy sector since 2000. From 2004 to 2008, Mr. Liu served as the chairman of Liaoning Guoneng Group (holding) Co., Ltd., a large government authorized steel product logistics company. Mr. Liu was named Outstanding Entrepreneur by the Central Government of China in 2006 and was also awarded the Medal of Prominent Entrepreneur. Mr. Liu is an accomplished Economist and he is currently the president of Liaoning Entrepreneurs Association.

Mr. Zili Zhao, Age 60

Chairman of Compensation Committee

Mr. Zhao currently serves as the Deputy General Manager and Deputy Secretary of Liaoning Electric Power Company Ltd., a subsidiary of China State Grid, the largest electric power transmission and distribution company in China. From 1995 to 2000, Mr. Zhao served as the Director of Dalian Electric Power Bureau. Prior to 1995, Mr. Zhao devoted 20 years to academia. From 1991 to 1995, Mr. Zhao served as the Headmaster of Dalian Electric Power Economic Management University. From 1985 to 1991, he served as the Headmaster of Dalian Electric Power University. Prior to 1991, he held multiple positions within the Dalian Electric Power University. Some of his positions include Deputy Party Secretary, Director of Committee Organization, and Professor of Power Generation. Mr. Zhao received a Bachelor's degree in Educations Principles from HuaZhong Normal University and a Master's degree in Electric Power Generation from Dongbei Electric Power University.

About CleanTech Innovations, Inc.

CleanTech Innovations, Inc. (OTC Bulletin Board: EVCPD.OB - News) is a U.S. registered public company with primary operations in China. CleanTech designs and manufactures high performance clean technology products that promote renewable energy generation, energy savings and pollution reduction. CleanTech's products include wind turbine towers, bellows expansion joints and pressure vessels, which are broadly used in the wind power, steel, coking, petrochemical, high voltage electricity transmission and thermoelectric industries. CleanTech is a market leader in the domestic production of expansion joints used in Coke Dry Quenching, an advanced clean solution system being installed in the coking and steel industries across China for its ability to reuse waste heat, improve coke quality and reduce pollutants. CleanTech's longstanding customers include Toshiba, ABB, China State Grid, HuaNeng Energy, Sinosteel and other global industrial leaders. CleanTech is focused on continuously developing innovative products that will improve efficiencies, reduce pollution and reduce costs associated with wasted energy.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect CleanTech Innovations' current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in CleanTech Innovations' filings with the Securities and Exchange Commission.

SOURCE CleanTech Innovations, Inc.