Stelios Zavvos joins the Board, named Chairman of Audit Committee
WALTHAM, Massachusetts, Aug. 16, 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 Stelios Zavvos has joined the Board of Directors and been appointed Chair of the Audit Committee.
Dr. Elias Samaras, EuroSite Power's Chief Executive Officer and Director noted, "We are delighted to welcome Stelios Zavvos to our Board, his many years of experience will be a great asset to the Company as we deploy our On-Site Utility business model throughout Europe and rapidly execute on our growth plans."
Mr. Stelios Zavvos is the Founder and Chief Executive Officer of Zeus Capital Management, a private equity group operating in Central Eastern Europe, South Eastern Europe, and the USA, and has over 35 years of corporate, finance and real estate experience.
Previously, he was the Founder and Chief Executive Officer of Continental American Capital, an investment group that focused on real estate investment and financing in the USA. Mr. Zavvos was a Member of the Board of Directors of the NASDAQ listed Star Bulk Carriers Corp, serving on the Board's Audit Committee. He has also held executive positions in blue-chip companies such as Citibank, Johnson & Johnson and Procter & Gamble.
Mr. Zavvos holds an MBA from Harvard Business School and an MSc in Civil Engineering from Polytechnic University of Athens. He is a Member of the European Council on Foreign Relations and the Founder and President of the Harvard Business School Club of Greece. In addition, he is the Chairman of Solidarity Net Foundation, a philanthropic organization established by the Open Society Foundations to support society groups that are severely affected by the economic crisis in Greece.
Mr. Zavvos replaces Mr. Bruno Meier who resigned from the board in July 2016.
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.
SOURCE EuroSite Power Inc.