AUSTIN, TEXAS (October 15, 2010). Green Source Energy LLC (“GSE”) announced today the appointment of two new board members, Dr. Hamid Shafie and Mr. Ervin Cruce. “We are honored that Dr. Shafie and Mr. Cruce have agreed to join our board,” said GSE’s Chief Executive Officer, Fitz Lee. “They will bring a combination of business and corporate governance experience that will help to guide the Company through its next important phase of development,” Lee continued.
Dr. Shafie brings significant international business and venture experience to the Board as a well-known scientist and an entrepreneur in health care and bio-technology. He has established a health care and technology related company, with operations in six countries, which provides a global network of physicians and medical equipment companies as a resource for U.S. enterprises when their corporate expansion and/or investments take them overseas. Dr. Shafie also founded The Center for Oral Implantology at Johns Hopkins University Hospital and formed the American Institute of Implant Dentistry (AIID), a not for profit postdoctoral teaching institution in Washington, D.C., with offices in Europe, North and South America, Asia and the Middle East.
Mr. Cruce has a wealth of corporate governance and financial experience. He is trained as an accountant and over his career was closely involved with some of the biggest names in Texas business. His experience includes heading the Fort Worth office for Peat, Marwick, Mitchell & Co. and as Chief Compliance Officer and CFO of the Bass Investment Limited Partnership. He has served on the board of directors of several publicly traded companies, including Perkins Restaurants, Friendly’s Restaurants, J. Baker Shoes and Texas Security Bancshares, Inc.
About Green Source Energy LLC
Green Source Energy LLC, founded in 2007, is a privately held corporation that develops sustainable technologies to improve hydrocarbon extraction and use. The company is headquartered in Austin, Texas, with offices in Houston, Texas, Manhattan, Kansas, and Washington D.C. Green Source Energy offers technologies based on a proprietary family of reagents for extracting various hydrocarbons, including from coal, oil sands, oil shale and in situ crude oil recovery. The technologies also offer solutions for the devulcanization and recycling of scrap rubber as well additives to reduce sulfur-based corrosion. GSE’s vision is to revolutionize hydrocarbon recovery through technologies that address the world’s energy needs while drastically reducing the environmental impact of hydrocarbon recovery and use.
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