XI'AN, China, April 21, 2011 /PRNewswire-Asia-FirstCall/ -- Sino Clean Energy Inc. (Nasdaq: SCEI) ("Sino Clean Energy," or the "Company"), a leading producer and distributor of coal-water slurry fuel ("CWSF") in the People's Republic of China ("China"), announced today that the Board of directors has appointed Mr. Brock Silvers as an independent director and a member of the Board's Audit committee, effective April 15, 2011.
Due to personal reasons, Mr. Albert Ching-Hwa Pu has resigned as a member of the Board, where he served as Chairman of the Audit Committee and a member of the Compensation Committee and Nominating and Corporate Governance Committee.
Mr. Silvers, aged 46, has more than two decades of senior investment and operating experience in China and Asia, with a specific emphasis on the energy industry. He currently serves as Managing Director of Kaiyuan Capital, a China-focused PE fund, and is a board director with China Energy Corporation (OTC: CHGY), a leading Chinese coal mining company. Mr. Silvers previously served as CEO of Laris Group, a China-based hospitality portfolio, and as CEO of Envirofit International, an environmental technology firm operating in the Asia Pacific region. Mr. Silvers was also a co-founding Partner of Power Pacific Company, a private equity firm focused exclusively on Chinese energy industry investments, and served as Director of International Development for Eagle Industries, a multi-billion dollar industrial holding company controlled by renowned U.S. investor Sam Zell. He received his MBA in Finance from the Wharton School of University of Pennsylvania, his M.A. in International Studies (Chinese Language & Culture) from the Lauder Institute of University of Pennsylvania, and his B.A. in Chinese Studies from Columbia University. Mr. Silvers is fluent in Chinese.
"We appreciated Mr. Pu's support and contributions during his term on the Board. We expect that Mr. Silver's broad experience in the energy market, in-depth understanding of the business environment, and his key industry connections will provide us with valuable operational insights and enhance our corporate governance," stated Baowen Ren, Chairman of Sino Clean Energy.
About Sino Clean Energy
Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water slurry fuel ("CWSF"). With locations in Shaanxi Province and Liaoning Province, Sino Clean Energy is one of the leading CWSF producers in China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Sino Clean Energy Inc.