PENNINGTON, N.J., Feb. 5, 2007 (PRIME NEWSWIRE) -- WorldWater & Power Corp. (OTCBB:WWAT), developer and marketer of proprietary high-power solar systems, today announced that, effective immediately, Frank Smith has joined the company as Executive Vice President and Chief Operating Officer. Concurrently, it was announced that James S. Farrin, who was serving as interim CEO, has completed his one-year contract; Quentin T. Kelly, Chairman, will reassume the title of CEO of WorldWater & Power.
"We are extremely pleased to announce Frank's addition to WorldWater & Power," commented Mr. Kelly. "This is a pivotal time for the company, and Frank's work at EMCORE, combined with his leadership experience and impressive engineering credentials, will be critical to providing direction and focus as WorldWater moves forward in its next phase of growth -- completing the ENTECH acquisition and building large, multi-megawatt installations. Our proprietary technology plus escalating demand in the U.S. and the world, driven by the need for energy independence and cleaner-burning sources of power, provided WorldWater & Power the opportunity to transform the company in 2006, with continued momentum for 2007.
"I also want to thank Jim Farrin for stepping in to help us manage the huge jump in our business from 2005 to 2006. His prior experience at WorldWater proved invaluable in helping us execute our sharp increase in projects.
"Frank Smith will help lead a company which is very different from just a few months ago, as we have more than tripled in size and have laid the groundwork for several strategic alliances that will take us to the next level in our mission to become the premier provider of high-power solar electric drives and systems."
Frank W. Smith
Frank W. Smith previously 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. Prior to this, he was an Operations Director at JDS Uniphase, where he managed several business units since 1999, before which he was a Program Manager at Lockheed Martin. He was also a Manager at MIT's Lincoln Labs and has accumulated five patents under his name as well as having published nearly two dozen articles. Smith graduated with a B.S. in Engineering & Applied Science from Yale University and completed a Masters and Ph.D. in Electrical Engineering & Computer Science from MIT, with a minor in Business Administration from MIT's Sloan School of Business.
About WorldWater & Power Corp.
WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at www.worldwater.com.
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