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New CEO to lead Atraverda


PRESS RELEASE

11 September 2008

Atraverda Limited, an advanced materials company, based in South Wales, United Kingdom has appointed Michael Gilchrist as its Chief Executive Officer to enhance its position as a leading global supplier of bi-polar lead acid battery technology.

Mr Gilchrist has over 30 years experience in managing global organisations in the manufacturing and technology sector including as Vice President of product and global strategy at Daramic, President and CEO of Microporous Products and a variety of roles in engineering, maintenance, sales, product development and business group management at PPG Industries.

Atraverda is rapidly progressing with its plan to deliver the world’s first commercially viable bi-polar lead acid battery, using its patented Ebonex® technology. The company has already secured $33.4m (£17.6m) from global investors in order to commercialise its bi-polar battery technology and is currently working with eight global battery producers including East Penn in the US and Exide Industries in India.

In his new role, Mr Gilchrist will be tasked with accelerating Atraverda’s growth, developing further commercial opportunities and delivering commercialisation of the bi-polar technology. He will be responsible for corporate management, strategic planning and analysis, product development and innovation and building upon its customer base.

Atraverda’s technology base is founded on the properties of its versatile proprietary Ebonex® technology, a titanium sub-oxide material which has a unique combination of metallic-like conductivity along with the characteristic high-corrosion resistance of ceramics.

Ebonex® bi-polar batteries are an environmentally strong technology with significantly less lead used than conventional batteries. They are set to revolutionise a host of markets including standby power, mobility, military, telecoms, automotive and the emerging hybrid electric vehicles sector. Further applications for Ebonex® technology include water and effluent treatment and the cathodic protection of concrete.

Mr Gilchrist commented: “I am delighted to be joining Atraverda at such an exciting time in its development. The company has made significant progress in its plan to deliver the world’s first commercially viable bi-polar lead acid battery and I look forward to leading them as we seek to revolutionise the multi-billion dollar global battery industry with our Ebonex® technology.”

Atraverda chairman, Mike Greenlee has been acting as the company’s Chief Operating Officer but will revert to his chairman role in the near future.

Mike Greenlee added: “Mr Gilchrist brings with him a wealth of expertise and experience which I am confident will help lead Atraverda forward as we move closer to commercialisation of our bi-polar lead acid battery technology.”

Atraverda’s investors are EnerTech Capital, OnPoint Technologies, Scottish Equity Partners Bank, Finance Wales, Invest New Energy Solutions, Espirito Santo Ventures, and Chord Capital.


ENDS

For more information, please contact Angharad Neagle on +4429 20 545387 or aneagle@freshwater-uk.com


Publisher Contact Information:

Freshwater
+4429 20 545387
aneagle@freshwater-uk.com

Company profile of Atraverda Limited
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