WALTHAM, Massachusetts, May 3, 2016 /PRNewswire/ -- EuroSite Power Inc. (OTCQX: EUSP, the "Company"), an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, is pleased to announce the Company's Chairman of the Board of Directors, Dr. John N. Hatsopoulos, has been appointed to the OTCQX® U.S. Advisory Council. The nomination for Dr. Hatsopoulos came after EuroSite Power upgraded from the OTCQB® Venture Market to the OTCQX® Best Market in January of this year.
The purpose of the OTCQX U.S. Advisory Council is to give OTCQX companies a voice in shaping their market and to help improve the overall experience for investors. The Advisory Council is comprised of senior management from U.S. companies traded on the OTCQX Best Market.
"I am honored to join the team of distinguished executives serving on the Council," said Dr. Hatsopoulos. "I look forward to offering my perspective on the issues facing OTCQX traded companies and in working to ensure a superior experience for companies, investors and brokers who participate on the OTCQX market."
Dr. Hatsopoulos is one of the original founders of Thermo Electron Corp. (now Thermo Fisher Scientific) and the retired president and vice chairman of the board of directors. He served as chief financial officer for Thermo Electron and all of its public subsidiaries from 1988 until 1998. Dr. Hatsopoulos was well known for his financial strategy innovation; his spinout strategy resulted in 24 public companies and raised close to $5 billion of capital.
Dr. Hatsopoulos graduated from Athens College in Athens, Greece, in 1953. He holds a B.S. in history and mathematics from Northeastern University, together with Honorary Doctorates in Business Administration from Boston College and Northeastern University. He served on the board of directors of the American Stock Exchange from 1994 through 2000 and the AMEX Nominating Committee from 1990 to 1994. In addition to his role as Chairman of EuroSite Power, Dr. Hatsopoulos is also co-Chief Executive Officer and Director of both Tecogen Inc. (NASDAQ: TGEN) and American DG Energy (NYSE MKT: ADGE).
The OTCQX Best Market offers the best informed and most efficient trading for established, investor-focused U.S. and global companies. To qualify for OTCQX, companies must meet high financial standards, demonstrate compliance with U.S. securities laws, be current in their disclosure, and be sponsored by a professional third-party advisor. OTCQX ensures that investors and brokers have the quality of information that's necessary to intelligently analyze, value, and trade their securities.
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
EuroSite Power Inc. is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers - without any capital or start-up costs to the energy user - through On-Site Utility energy solutions. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings, including its annual report on Form 10-K for the fiscal year ended December 31, 2015. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
SOURCE EuroSite Power Inc.