WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), developer
and marketer of proprietary high-horsepower solar systems, today
announced that, in line with its planned succession and effective
immediately, Dr. Frank W. Smith has been promoted from COO to Chief
Executive Officer and elected to the Board of Directors of WorldWater
& Solar Technologies Corp. As previously announced, former CEO Quentin
T. Kelly retires from the CEO position and will continue as
non-executive Chairman of the Board of WorldWater.
Dr. Smith, 49, has served as Executive Vice President and COO of
WorldWater since February of 2007 and brings over 20 years of
experience in strategic planning, business development, and operations
management. Prior to his joining WorldWater, Dr. Smith served as Vice
President of Strategy and Business Development at EMCORE Corporation,
where he identified target acquisitions, managed the due diligence
process, and provided strategic direction for the company.
"Frank has shown the vision and experience to take WorldWater to
the next level by providing highly effective management solutions for
our company as our business grows," said Quentin T. Kelly, Chairman of
the Board. "He has the appropriate hands-on expertise to lead the
Company to profitable operations and to tackle the challenges that
come with rapid growth. Frank was hired last year with the intention
of bringing him into the role of CEO. He has demonstrated his
capabilities, and as a result, we expect a smooth transition in the
coming weeks. I am extremely proud and honored to have led our company
from a small start-up firm to a top-tier, publicly-held provider of
alternative energy systems, and, as Chairman, I will continue to focus
my interests on benefiting WorldWater but as a long-term strategist
with an eye toward increasing new business development. The Board and
I know that Frank will handle the Chief Executive responsibilities
most effectively."
Dr. Smith added, "WorldWater is at a critical juncture in its
corporate history. The solar business is growing at an accelerating
pace, as demand for clean energy continues to increase throughout the
globe. In this expanding market, we are well positioned to take
advantage of numerous growth opportunities. We now need to execute to
plan and improve our financial results - which we clearly intend to
do. I have never been more excited about an opportunity than I am
about implementing WorldWater´s growth strategy and building its
business both in the U.S. and internationally."
About WorldWater & Solar Technologies
WorldWater & Solar Technologies Corp. is a full-service,
international solar electric engineering and water management company
with unique, high-powered and patented solar technology that can not
only generate and distribute electricity, but can drive 1000
horsepower motors and pumps from sunshine independently or in
conjunction with the electric grid, providing solutions to a broad
spectrum of the world´s electricity and water supply problems. For
more information about WorldWater & Solar Technologies Corp., visit
the website at www.worldwater.com.
