TORONTO, October 18, 2018 /PRNewswire/ --
CellCube Energy Storage Systems Inc. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) is pleased to announce that Philip G. Hughes has agreed to join the Board of Directors. Mr. Hughes is a past Officer of the World Energy council (WEC), former Chair of the Canadian Electrical Association (CEA) and former Chair of the Energy Council of Canada (ECC). Mr. Hughes was a significant contributor to the development of North American energy policy and research through his involvement with WEC, CEA and ECC.
"It will be rewarding to use my experience and add my strategic vision to this very fast growing energy storage industry", says Philip Hughes, "My years in the energy transmission and distribution industries has given me insight into how dynamic this industry will become and it is just the tip of the iceberg."
Mr. Hughes has served as President and Chief Executive Officer of several energy companies across Canada. A senior executive with Fortis Inc. group of companies where he was responsible for various successful acquisitions and led the operations as President and CEO of several of the Fortis Inc. subsidiaries. He was President, CEO of Fortis Alberta, Newfoundland Power Inc., Maritime Electrical Company and Fortis BC. He holds a Bachelor of Arts (Hons. Economics) from Lancaster University, England and is a member of the Institute of Chartered Accountants of Alberta and a Fellow of Chartered Accountants of England and Wales.
"We are very excited to welcome someone of Philip's caliber to the CellCube Board", says Mike Neylan, "His senior corporate and international experience will be invaluable for guidance as the company continues to expand into the global market."
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) 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 Enerox GmbH the developer and manufacturer of CellCube energy storage systems. EnerCube Switchgear Systems (formerly Jet Power and Controls Ltd.) and Power Haz Energy Mobile Solutions Inc. (formerly HillCroft Consulting Ltd.) and 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 the vanadium redox flow technology and has over 130 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 with the focus on larger scale containerized modules. Basic building blocks consist of a 250kW unit family with 4,6 and 8 hours' variation in energy capacity.
On Behalf of CellCube Energy Storage Systems Inc.,
Mike Neylan, CEO, Director
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 http://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.
For further information:
Glenda Kelly, Investor Communication
CellCube Energy Storage Systems Inc.
Ste 10 - 8331 River Road
Richmond, BC V6X 1Y1
65 Queen St West, Suite 520
Toronto, Ont. M5H 2M5
CSE: CUBE 12g3-2(b): 82-2062
OTCQB: STNUF Frankfurt: 01X