NEW YORK, June 26, 2017 /PRNewswire/ --
Millennium Energy Corporation (OTC Pink: MENC) is pleased to announce the appointment of Alexander Lightman as Chief Executive Officer.
Alexander Lightman has joined the Board of the Company as a director and has been appointed as Chief Executive Officer with immediate effect.
Michael Fuoco will step down as CEO but will be appointed Deputy Chairman and remain as the company CFO, a position he previously served in since 2014. The company's Chairman Irving Aronson thanked Mr. Fuoco for his service as CEO.
On the appointment of the new CEO Mr. Aronson said: "We are very fortunate to have secured the services of Alexander Lightman as Chief Executive Officer for Millennium Energy, with his extensive experience and his substantial industry contacts and knowledge built over many years as an entrepreneur. Alexander Lightman will be a great credit to the company as CEO and, in my opinion, will add immense value for shareholders. He has the total support of the majority shareholders and the board as he refocuses the company on new technologies in the renewable energy sector with plans to focus on clean energy production from NH3 as a primary fuel source for numerous uses from fuel storage to powering automobiles and trucks."
Lightman said, "Millennium Energy now has an acquisition strategy that will enable us to do things the vast majority of governments and the majority of consumers would like industry to do: create a clean fuel that will run in existing cars, trucks, buses, ships, and aircraft. We will be able to do this from the cleanest sources, such as solar, as well as from the dirtiest sources, like tar sands, coal, and oil.
"There is a big business debate about fossil fuels vs. renewables, as we saw when President Trump removed the US from the Paris Agreement. One estimate is that the cost of the transition to a world that is 80% fossil fuel powered to one that is 100% renewable energy powered is $100 trillion.
"During my research to write national innovation plans for the US and Mexico, I became aware of a massive opportunity that no public company was pursuing aggressively. The board and shareholders of Millennium were the first in a public company who were ready, willing and able to seize this opportunity to acquire the technology and intellectual property to go after multiple trillion-dollar markets.
"I am honored and grateful to be able to dedicate my life not only to increasing shareholder value, but also to show how to end the debate and move our civilization to clean sustainable future based entirely on carbon- free fuels. A key aspect of the new Millennium Energy business model is that it won't require us to throw away our existing 1.2 billion internal combustion engine cars and other parts of a transportation system that we've invested tens of trillions of dollars in to replace it with electric vehicles not every family or company can afford, and it won't require us to stop using fossil fuels, just to stop using them in a way that pollutes.
"Millennium Energy is going to change the world for the better, and we invite investors and partners to support our efforts and do well while doing good."
About Alex Lightman, aged 55
Lightman is a graduate of MIT Course I-A (Civil and Environmental Engineering Department) and attended graduate school at Harvard's Kennedy School of Government. He worked for Mitchell Energy and Development (the pioneer of fracking) as roughneck (with multiple broken fingers) and as a drilling engineer. He has spoken widely for governments and corporations on the future of energy and transportation, the keynote speech for the NH3 Fuel Association in 2014, the first speech from a business perspective at a United Nations event (UNISPACE III) on commercial applications of space solar power, and keynote at the kickoff of US Dept. of Transportation research into what fuels the US would be using over the 50 years from 2010 to 2060.
He is an executive with 30 years of management and social innovation experience and 20 years of chairman and chief executive experience, an award-winning inventor with multiple US patents issued and Amazon- bestselling author of over two million published words, including the first book on 4G wireless, and over 150 articles in major publications. He has chaired and organized 17 international conferences with engineers, scientists, and government officials since 2002 with intention of achieving policy breakthroughs related to innovation.
Lightman is a world-class innovator and recipient four global awards, including the first Economist Magazine Readers' Choice Award for « The Innovation that will Most Radically Change the World over the Decade 2010 to 2020 » (awarded Oct. 21, 2010, out of 4,000 initial suggestions and votes over five months from 200 countries, and from 32 judges) The recipient (post-humous) of the 2nd Reader's Award (announced 10/21/2011) was Steve Jobs. Lightman was also the winner of the only SGI Internet 3D contest (both Entertainment and Grand Prize) out of 800 contestants, winner of global Avatar competition, one of ten "CEOs of the Future", The Chief Executive magazine, 20th anniversary edition and one of ten "America's most innovative educators".
About Millennium Energy Corporation
Millennium Energy OTC MARKETS - MENC operates as a globally diversified holding company with corporate divisions in property development (land holdings in Costa Rica); oil & gas concessions in Sakhalin Island, Russian Federation; and a clean energy division with a number of projects in development.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Millennium Energy, Corp., its directors, or its officers with respect to, among other things: (I) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "May," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-
looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Millennium Energy, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Millennium Energy, Inc.'s filings with the OTC Markets.
SOURCE Millennium Energy Corp