Cool Technologies Adds Renowned Engineering Executive to Strategic Advisory Board

TAMPA, Fla., Dec. 09, 2019 (GLOBE NEWSWIRE) — Cool Technologies, Inc. (OTCQB: WARM) (“CoolTech”), an innovator and intellectual property company in mobile energy generation and heat removal technologies, announced today that Steven Wilburn has joined its Strategic Advisory Board. The Advisory Board is an integral part of CoolTech’s overall strategic commercialization plan and Mr. Wilburn will play a significant role in expanding/enhancing the applications for the Company’s mobile power generation technology and securing new sources of funding.A combat wounded and disabled Marine who was awarded the Purple Heart, Mr. Wilburn is an engineering executive with over 40 years of experience in alternative energy and water treatment.“Few people combine extensive government experience and respect from Democrats and Republicans. Steve was selected to serve on the advisory board of the Export Import Bank of the United States. He’s testified before the House Financial Services Committee as an expert on the financing of international trade. The Obama Administration appointed him to the White House Business Council and the Trade and Finance Advisory Committee. Then, the current Secretary of Commerce, Wilbur Ross, reappointed him to the same committee,” said Timothy Hassett, Cool Technologies CEO. “For an applications engineer who invents, implements and commercializes new technologies, that’s damned impressive.”Wilburn successfully led teams to find a new method for producing pure hydrogen for NASA’s Shuttle Program, to invent a process to generate clean power from petroleum coke, and to design, build and operate a pilot plant which produced compressed natural gas and food grade CO2 from landfill emissions. As VP of Business Development at Allied Signal Corporation, Steve was responsible for the design, permitting and construction of 5 power plants totaling over 300 million dollars. In light of their successful completion and operation, Governor Gray Davis recruited him to fast track natural gas fired power plants during California’s energy crisis. Steve brought the plants on-line within 5 months of the signing the State’s Letter of Commitment.Mr. Wilburn is also the founder, Chairman and CEO for FirmGreen, Inc. and founder and managing member of VerdeWatts, LLC. FirmGreen commercialized a patented landfill emission cleanup process by leveraging a successful conversion of biogas from an Ohio landfill into CNG fuel into an agreement to co-develop the world’s largest renewable biogas plant in Brazil. The plant now cleans up to 20,000 cubic meters of methane per hour. His company has subsequently added proprietary water treatment technology to its product mix.Steve also invented the VerdeVault Energy Storage System for solar and battery powered technologies then founded VerdeWatts to commercialize it. VerdeWatts is currently developing $212 million in renewable energy and energy storage projects, one of which is a contract with Contec Power of Nigeria to develop and operate a 65 MW Solar Hybrid Plant with 240 MWH’s of battery storage.“Enabling significant power to be generated anywhere at low cost is an outstanding application for the MG system. I see even greater potential when it’s combined with other technologies that have recently entered the marketplace. Third world and other developing countries could benefit tremendously,” stated Wilburn. “Plus, the Company’s portfolio of intellectual property covering the cooling of electric motors is a valuable resource ready to be tapped.”About Cool Technologies, Inc.Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. The Company has additional patents-pending for various OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec Corporation, the Company’s cooling system eliminates the need for costly modifications while increasing power output of pumps, fans, compressors, batteries, motors, generators and bearings. Safe Harbor Statement.This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company’s plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company’s business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, read the blog at cooltechnologiesinc.com or contact [email protected]
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