TORONTO, March 19, 2019 /CNW/ -- CellCube Energy Storage
Systems Inc. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB:
CECBF) (Frankfurt: 01X) (WKN:
A2JMGP) is very pleased announce three highly regarded members of
the business community to the board of directors, Michael Nobrega, Brett
Whalen and Henrik Mickkelsen. The newly appointed directors
will join Stefan Schauss,
Henk van Alphen and Bruno Arnold on the board.
"The new board members represent a new phase in the company
operations and also an exceptional vote of confidence for the
Company and its tremendous future," says Stefan Schauss, President "Their combined
experience in the capital markets, especially in the resource,
power and renewable energy sectors will make a valuable
contribution to the Company's business strategy to meet the needs
in a fast-growing energy storage market."
Appointments:
Michael J.
Nobrega FCPA, FCA was President and CEO of the
Ontario Municipal Employees Retirement System (OMERS), one of
Canada's largest pension funds
with net assets in excess of $95
billion. Prior to his seven year term (2007 -2014) as OMERS
President and CEO, Mr. Nobrega was tasked, from 1998 to 2007, with
establishing and building Borealis Infrastructure, the wholly owned
infrastructure investment entity of OMERS, as a world class
institutional investor in global infrastructure assets. Prior
to OMERS and Borealis, Mr. Nobrega was a tax partner of a major
international accounting firm. Currently, Mr. Nobrega is Acting
President and CEO of Waterfront Toronto Revitalization Corporation
which is responsible for the revitalization of the City of Toronto's waterfront lands.
Borealis Infrastructure was a pioneer in 1998 in establishing
the infrastructure asset class for global capital pools. This early
entry into the asset class provided OMERS with opportunities to
invest globally in major infrastructure assets such as power
generation, transmission systems, hydro utilities, natural gas
pipelines, toll roads, ports, bridges and rail tunnels – assets
which form the foundation of a modern economy.
Prior to retiring from OMERS in 2014, Mr. Nobrega was
instrumental in establishing OMERS Ventures which has pioneered
pension fund venture investments in high potential technology
companies throughout North
America. He is currently serving as Chair of Ontario Centers
of Excellence (OCE) which promotes and supports the development and
commercialization of Canadian technologies through funding
partnerships between governments and the private sector.
Mr. Nobrega is currently director of Toronto Hydro Corporation,
one of Canada's largest hydro
utilities. He is also a board member of the IBI Group which is
focused on engineering buildings and transportation systems with
state-of-the-art technologies to create "smart" buildings and
infrastructure systems to serve an increasing digitized
economy.
Mr. Nobrega is a graduate of University of
Toronto in economics and mathematics. He is a Chartered
Accountant and is a Fellow of the Professional Chartered
Accountants Institute of Ontario.
Mr. Nobrega will be replacing, Mr. Brian Stecyk as a
independent director of the company. The Board of Directors wishes
to thank Mr. Stecyk for his leadership and also his guidance being
key to the successful acquisition of the Gildemeister assets. Brian
was a highly regarded member of the board and the Company thanks
him for his service..
Mr. Brett Whalen, CFA
is also be joining the CellCube Board of Directors. Brett has
kept close contact with the company as an capital markets advisor
to the Board (see press May 3,
2018).
Brett Whalen was recently Vice
President and Portfolio Manager at Goodman Investment Counsel, a
wholly-owned division of Dundee Corporation. Brett is also
President and CEO of the CMP Group of companies and Director of
Enwise Holdings since 2007. His experience also includes senior
positions with Dundee Capital Markets and Clarus Securities Inc. He
has a BA (Honours) degree in Economics and Finance from Wilfred
Laurier University.
Brett Whalen will be replacing,
Mr. Mike Neylan as a independent
director of the company. Mr Neylan tenders his resignation
from the board and it's related subsidiaries. The Company wishes to
thank Mike for his guidance during the initial development of the
Company.
Mr. Henrik Mikkelsen is
the Managing Partner and CIO at Iridis AG in Zug, Switzerland, a Family and Investment Office
offering advisory and asset development on all levels. Mr.
Mikkelsen has extensive experience in investing and asset
allocation covering all asset classes, from listed to direct
PE.
Prior to establishing Iridis AG, Mr. Mikkelsen has held senior
positions as Portfolio Manager, Strategist, Market Maker in
Investment and Private Banks and he was Head of Portfolio and
Client Management at a major commodity company.
He holds a Graduate Diploma in Investments and Finance and a
Diploma in Strategic Management and Organization from Copenhagen
Business University and a bachelor in Finance from Syddansk
University. His economic studies and thesis from Business School on
Behavioral Finance as a tactical, allocation and risk management
tool, is today the foundation of a proactive asset allocation
model.
He currently is Vice President of the Board of the Swiss
Association of Market Technicians and member and speaker of other
international societies and forums.
Mr. Mikkelsen will be replacing, Mr. Chris Hopkins as a independent director of the
company. The Board of Directors wishes to thank Mr. Hopkins for his
guidence . Chris was a highly regarded member of the board and the
Company thanks him for his service and wishes him the best in the
future. Mr Hopkins resignation is effective March 7, 2019.
Announcing Change In Management
The Company would like announce the resignation of Chris Hopkins as Chief Financial Officer of
CellCube. The Company wishes to thank Chris for his service and
wish him the very best for his future endeavours.
Replacing Chris Hopkins, will be
a team lead by John Dyer CPA, CMA, with over 30 years of
financial management experience including chief financial officer
roles in both private and public companies, controller roles and
public practice accounting.
As a Chartered Professional Accountant, Mr. Dyer has wide
ranging experience in various industries including manufacturing,
construction, technology, non-profit, mining, financial
institutions and insurance.
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian
Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and
the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the
fast-growing energy storage industry which is driven by the large
increase in demand for renewable energy.
CellCube supplies vertically integrated energy storage systems
to the power industry and recently acquired the assets of
Gildemeister Energy Storage GmbH, now renamed Enerox GmbH, the
developer and manufacturer of CellCube energy storage systems.
CellCube's other related subsidiaries are EnerCube Switchgear
Systems and Power Haz Energy Mobile Solutions Inc. The Company has
also invested in an online renewable energy financing platform,
Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage
systems on the basis of vanadium redox flow technology and has over
136 project installations and a 10 year operational track record.
Its highly integrated energy storage System solutions features 99%
residual energy capacity after 11,000 cycles (cycling daily for 28
years) and larger scale containerized modules. Basic building
blocks consist of a CellCube unit family with 4, 6 and 8 hours
variation in energy capacity.
On Behalf of CellCube Energy Storage Systems Inc.,
Stefan Schauss, President
This news release contains certain "forward-looking
statements" within the meaning of Canadian securities legislation.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur; they are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release and the Company's annual and quarterly management's
discussion and analysis filed at www.sedar.com. Except as required
by the securities disclosure laws and regulations applicable to the
Company, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Neither the CSE
nor its Regulation Services Provider (as that term is defined in
the policies of the CSE) accepts responsibility for the adequacy or
accuracy of this release.
Glenda Kelly, Investor
Communications
Telephone: +1-800 882-3213
Email: info@cellcubeenergystorage.com
www.cellcubeenergystorage.com
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SOURCE CELLCUBE ENERGY STORAGE SYSTEMS INC.
