LOS ANGELES, CA -- (MARKET WIRE) -- February 15, 2007 -- Save the World Air, Inc. (
In making the announcement, Joseph Helleis, STWA's Chairman of the Board, commented, "We expect our three new board members to serve as a vast resource of business experience and acumen, and we are excited about their appointments. Combined, Steve and Nate have nearly 75 years of experience in the automotive aftermarket, and we look forward to drawing on their expertise as we focus on building our business and bringing our products to market. Furthermore, we believe that Steve and Nate's commitment to STWA serves as a testament to the significant promise that our technologies hold.
"We think Dennis will also play a critical role in the growth of our company, as his thorough understanding of the regulatory arena will help facilitate the process of introducing products that meet clean air standards and provide environmentally responsible power systems. In particular, we will look to Dennis for his guidance in applying for government grants that will help fund our ongoing research.
"We continue to believe there is a significant market opportunity for products that serve the dual purpose of reducing emissions and enhancing performance in a wide range of gasoline and diesel engine systems. Overall, we believe the expertise and guidance of our three new board members will be invaluable to the strategic development of STWA."
The backgrounds of the new directors are as follows:
-- Steve Bolio's 44-year career in the automotive aftermarket includes experience in retail, wholesale, product development and manufacturing. Bolio has spent the past 18 years as a partner at Scafidi-Bolio & Associates, a manufacturers' representation firm. In addition, Bolio has held key roles at automotive companies such as Hurst Performance and Keystone Wheel. Bolio served six years on the SEMA Board of Directors and five years on the Executive Committee. In 2006, Bolio was inducted into the SEMA Hall of Fame.
-- Major General Kenneally's distinguished 42-year career includes both military and civilian roles. Kenneally currently serves as an Advisor to STWA, after recently retiring from his role as the Assistant Chief of the Bureau of Automotive Repair in California. Previously, Kenneally served as Commanding General of the California Army National Guard and the Assistant Adjutant General and Director of the Office of Homeland Security of the California National Guard. As a civilian, Kenneally was a consultant to the President and CEO of Maxim systems, a Department of Defense contractor, and Vice-President of Pedus Services, a large international multi-service company providing private security and facilities management services.
-- Nate Shelton is a 30-year industry veteran, currently serving as CEO of SS Sales & Marketing, a well-known sales and marketing organization representing quality manufacturers in the automotive aftermarket industry. He is also currently Chairman of B&M Racing and Performance Group. In addition to his role as CEO of K&N Engineering, Shelton has held key management roles at other automotive companies such as Hooker Headers and V.D.O. He has also served as Chairman of Specialty Equipment Market Association ("SEMA"), which represents the $27 billion specialty automotive industry.
About Save the World Air, Inc.
Save the World Air, Inc. is currently engaged in the product development, initial sales and marketing of devices using proprietary technologies that can be installed on motor vehicles, motorcycles and stationary engines to reduce harmful emissions caused by internal combustion engines, as well as improve fuel efficiency and/or improve performance. The company's patented ZEFS devices have been shown to reduce harmful emissions, improve both fuel efficiency and enhance engine performance in repeated independent laboratory testing. The company's patent-pending CAT-MATE® devices have been shown to reduce harmful emissions in repeated independent laboratory testing. For more information, visit the company's website at www.stwa.com.
Safe Harbor Statement
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as market acceptance, ability to attract and retain customers, success of marketing and sales efforts, product performance, competitive products and pricing, growth in targeted markets, risks of foreign operations, and other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission.