VANCOUVER, BC / ACCESSWIRE / June 10, 2021 / AmmPower Corp. (CSE:AMMP) (OTCQB:AMMPF) (FSE:601A) (the "Company" or "AmmPower"), is pleased to announce that it is in the process of forming a wholly-owned subsidiary known as AmmPower Marine Corp. ("AMC"), to operate under the previously announced AmmPower Ammonia & Alternative Energy Division, in addition to welcoming John Tercek to its Advisory Board.
AmmPower Marine Corp.
AmmPower's global marine initiative will focus on bringing its green ammonia manufacturing units & technologies to the maritime industry, and will operate under the direction of Rene Bharti, President, & CEO, Gary Benninger, to further develop its maritime relationships.
The Company plans on using its impending small- and large-scale pilot plant projects to demonstrate proof of concept & validify its proprietary technology. AMC will target the shipping industry, and specifically focus on port facilities, infrastructure, cargo ships, cruise liners, bunkering processes' and distribution hubs.
Appointment of John Tercek
John Tercek is an attorney and financier with 40 years of international project development and finance experience. He started his career with a Wall Street firm and then partnered with a boutique finance firm that raised $1 billion for project development in the United States.
Mr. Tercek shifted to renewable energy in the 1990s and while working with a boutique developer, he was able to organize some of the first wind developments in Europe, including the UK and Spain. John was then recruited by Royal Caribbean Cruises Ltd ("RCL") in 1999 to spearhead their international port infrastructure investment and development initiative for over 20 years. Under his guidance, RCL became the leading investor, developer and operator of cruise ports. Tercek worked with various infrastructure opportunities in nearly 40 countries in addition to developing and privatizing ports in 14 countries, representing an aggregate $1 billion investment.
Tercek is currently a Director of GPMCS, an international project developer and financial advisor. GPMCS structures debt and equity capital for several large-scale cargo ports and a half dozen utility-scale solar energy and other renewable energy projects in various countries.
Tercek attended the Wharton School of Business at the University of Pennsylvania and Fordham School of Law. He is a member of the New York Bar Association and currently resides in Phoenix, Az.
Tercek states, "Given my background in renewable energies and global experience, specifically as it applies to port infrastructure, partnering with AmmPower was an obvious fit. Given the global shift towards green infrastructure in the maritime industry, there is an obvious need for companies like AmmPower to provide their technologies, and I look forward to supporting AmmPower in its endeavours by strengthening its position in the shipping industry going forward."
Rene Bharti, AmmPower President states, "We are honoured to have someone with Mr. Tercek's background joining AmmPower's Advisory Board. John's 20 years of experience with one of the largest cruise line companies in addition to his background in renewable energies is a rare combination. His vast expertise in port development globally will allow AMC, to move forward in this large business arena."
On Behalf of the Board of Directors
Chief Executive Officer
AmmPower is a resource exploration company with an increasing focus on clean energy. The Company is based in Vancouver, BC and owns the Whabouchi South lithium exploration property located in the James Bay/Eeyou Istche region of Quebec and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario. In addition, together with its partner, ORF Technologies Inc., based in Toronto, Canada, the Company is working on the development of a proprietary solution to produce green ammonia and green hydrogen, and is also investigating revolutionary catalyst methods to react Nitrogen and Hydrogen together with the aim of creating 100% clean, and cost effective green, turquoise, and blue ammonia.
This news release includes forward-looking statements that are subject to risks and uncertainties, including with respect to the expected timing of its name and ticker symbol changes. All statements within, other than statements of historical fact, are to be considered forward-looking. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the contents of this press release
SOURCE: AmmPower Corp