Lancaster, PA- January 10, 2018 – Ocean Thermal Energy Corporation (OTCQB: CPWR) (the “Company”, “we” or “OTE”), a project developer for Ocean Thermal Energy Conversion (“OTEC”), clean hydrothermal energy plants, and Seawater District Cooling/Seawater Air Conditioning (“SWAC”) cooling plants, today announced that William S. (Lanny) Joyce, has joined OTE’s board of advisors. Lanny is the Director of Utilities and Energy Management in the Energy and Sustainability Department at Cornell University, Ithaca, New York.
Lanny Joyce has over 30 years of experience in district energy, utility systems, district cooling, deep water cooling, combined heat and power, building energy and control systems, and commercial and industrial refrigeration.
Since 1984, Lanny has provided leadership for over $240 million in central plant and building energy projects at Cornell. He led the campus wide $45 million Energy Conservation Initiative and energy management program from 2001 to 2015 which kept energy use flat while campus space grew by 20%. He was the project director for the $83 million Combined Heat and Power Project which allowed the university to eliminate coal, reduce central utility use associated carbon emissions by 50%, exceed its stated Kyoto compliance goal, and usher in a new era of high efficiency heating and electricity. Lanny initiated and was project manager for the Lake Source Cooling deep lake water cooling project, an innovative and award-winning project completed in 2000 that provides all of the chilled water production on the central campus utilizing a renewable resource and 86% less energy.
Lanny has a Bachelor of Science in Mechanical and Aerospace Engineering from Cornell with distinction and is a member of the International District Energy Association (IDEA), Association of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE), the American Society of Mechanical Engineers (ASME), and the Association of Energy Engineers (AEE).
“We are very pleased to welcome Lanny to our advisory board.” said Jeremy P. Feakins, Chairman and CEO of Ocean Thermal Energy Corporation. “Our company will benefit greatly from his expertise and practical knowledge of district cooling and energy systems based on innovative deep water technology.”
Lanny said, ”I look forward to using my expertise to assist OTE in its quest to create truly exceptional systems around the world. I believe strongly that innovative highly efficient energy systems and aggressive conservation are required to reduce global climate impacts. ”
Other members of OTE’s prestigious advisory board include Roy Bernardi, Former U.S. Deputy Secretary of Housing and Urban Development; Ed Rendell, Former Governor of Pennsylvania; Rear Admiral (Ret.) Janice Hamby, Chancellor, National Defense University; Tom Wells, Founding Partner of Wells, Jaworski, & Liebman, LLP; Diane Poillon, CEO at Willow Valley Associates, Inc.; and Linda Duncan, OTE’s London, UK based Director.
About Ocean Thermal Energy Corporation
OTE is a Lancaster, Pennsylvania-based Company that designs and develops deep-water hydrothermal clean-energy systems which include producing fossil-fuel free electricity through Ocean Thermal Energy Conversion (OTEC) and environmentally friendly cooling though Seawater Air Conditioning (SWAC). An important part of the technology is the production of large amounts of water for drinking, aquaculture, and agriculture.
OTE’s technology is best suited to tropical and subtropical regions of the world where about 3 billion people live. It utilizes the natural temperature differential in oceans to generate base-load, 24/7, clean, non-polluting electricity, as well as alternative, energy-efficient cooling systems and fresh water, the latter of which is essential for the entire world, particularly developing communities. Since the 1970s, OTEC and SWAC systems have been successfully demonstrated and operating in several locations around the world.
For additional information regarding OTE, please visit the Company’s website at www.otecorporation.com.
Safe Harbor Statement
Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding OTE’s plans or expectations constitute forward-looking statements. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties, include, without limitation: a decision by any of the interested parties to not enter into a definitive power purchase agreement; the inability of the parties to successfully negotiate and enter into a definitive power purchase agreement; the inability of the parties to meet every closing condition contained in such definitive power purchase agreement and the protection and maintenance of OTE’s intellectual property rights. Additional information and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in OTE’s periodic reports filed with the Securities and Exchange Commission under the heading “Risk Factors.” Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, OTE disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.