WALTHAM, Mass., June 16, 2016 /PRNewswire/ -- EuroSite Power Inc. (OTCQX: EUSP, the "Company"), an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, is pleased to announce Mr. Jacques de Saussure will join the board of directors and has been elected Chairman effective July 1, 2016.
Dr. Elias Samaras, EuroSite Power's Chief Executive Officer noted, "We are thrilled to welcome Jacques de Saussure to our board and look forward to benefitting from his expert guidance during our next phase of growth as he takes over as board Chairman. Mr. de Saussure's decades of experience in the European financial industry will be a wonderful resource as we deploy EuroSite Power's On-Site Utility model to the European continent."
An expert in asset management and wealth management, Mr. de Saussure joined Pictet Group in 1980 and was elected partner in 1987. He served as Senior Managing Partner of the Pictet Group from 2010 until June 2016. Founded in Geneva in 1805, Pictet is today one of Europe's leading independent wealth and asset managers, with EUR 437 billion of assets under management and custody as of year-end 2015.
Mr. de Saussure is a member of the board of the Swiss Bankers Association, and has also served as vice chairman of the Swiss Stock Exchange, which merged into SIX group in 2008, where he remained member of the board until 2010. He attended the Swiss Federal Institute of Technology (EPFL) and graduated with a degree in Applied Mathematics and Computer Science in 1975 before going on to obtain a Master's degree from MIT's Sloan School of Management in 1978.
Dr. Samaras, who has been acting interim Chairman of the board, will remain Chief Executive Officer and a member of the Company's board of directors.
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
EuroSite Power Inc. is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers - without any capital or start-up costs to the energy user - through On-Site Utility energy solutions. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings, including its annual report on Form 10-K for the fiscal year ended December 31, 2015. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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SOURCE EuroSite Power Inc.