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WorldWater & Solar Technologies Announces Three New Board Members |
Ewing, N.J., February 21, 2008 (BUSINESS WIRE) WorldWater & Solar Technologies Announces Three New Board Members: David Gelbaum, Trustee of The Quercus Trust: David Anthony, Managing Partner of 21 Ventures; Dr. Walter Hesse of ENTECH, Inc., WorldWater's Newly Merged Subsidiary WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB-News), developer and marketer of proprietary high-power solar systems, today announced three additions to its Board of Directors. David Gelbaum, Trustee of The Quercus Trust; David Anthony, Managing Partner of 21Ventures, and Dr. Walter Hesse, founder and leader of ENTECH, were appointed today and joined the Board effective immediately, increasing the Board’s size from 7 members to 10. Mssrs. Gelbaum and Anthony come as representatives of The Quercus Trust, which owns approximately 24.1% of the equity ownership in WorldWater on a fully diluted basis, following its recent investment of $35.6 million and earlier open market purchases and private stock placements with the Company. Dr. Hesse joins the Board following the successful completion of the ENTECH merger. All are Board interim appointments to be confirmed by shareholder votes at upcoming Annual Meetings. “Given the accomplishments of the past few months, it is with great pride that we welcome these three esteemed individuals to WorldWater’s Board,” said Quentin T. Kelly, Chairman and CEO. “David Gelbaum is a strong proponent of advanced and next-generation solar technology, and it is an honor to have him participate directly in the future of our company. Likewise, David Anthony, a venture capitalist who also teaches at the New York Academy of Sciences, will bring professional entrepreneurial experience and vision to WorldWater. I am also pleased to welcome Dr. Hesse to our Board. I have known Walter as CEO of ENTECH for several years now, and our two companies together are already working aggressively to bring the ENTECH 20X concentrator PV and thermal technology into full production for implementation in the US and world markets by this summer.” About WorldWater & Solar Technologies Corp
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