CORUNNA, Ontario, July 16, 2004 (PRIMEZONE) -- Megola, Inc. (OTCBB:MGOA), a leading solution provider in physical water treatment, microbiological control, wastewater treatment and air purification, is pleased to announce today that three new key people, Dr. William de Waal, Mike Banovsky and William Weaver, have joined the company's Advisory Board.
For the last 10 years Dr. de Waal has worked in the environmental industry. Since 2000, he has held the position of Vice President of Product Development and Research for Hydroxyl Systems in British Columbia, which provides treatment technology for industrial, marine and municipal wastewater applications. Prior to this time, Dr. de Waal was employed as Director of Innovation Management by Trojan Technologies (TSE:TUV) and (Pink Sheets:TJNTF), a leading supplier of UV technology. In this capacity he was responsible for examining both competitive and complementary treatment strategies. Dr. de Waal began his career in research in the chemical industry before progressing to business management with a multinational chemical firm. Dr. de Waal received his Ph.D. in chemistry in 1970 from the University of British Columbia.
Mr. Banovsky is currently the President of ENCOEX Inc., (http://encoex.com) a Sarnia, Ontario, based company that specializes in developing cost savings programs to aid upfront design of major capital projects worldwide. He has over 30 years of industrial design and manufacturing expertise in piping systems, shell and tube heat exchangers and specialized processing equipment, such as reactors and pressure vessels. He has designed, manufactured and exported major industrial equipment, primarily for the oil and gas sector of refineries, petrochemical complexes, chemical and plastics plants and power plants around the globe. Throughout his career, Mr. Banovsky has won several business awards based on his innovative ideas and business achievements in the global marketplace.
Mr. Weaver is presently the CEO of Heat Recovery Systems, Inc. of Carmel, Indiana, and has over 50 years of experience in the development of air treatment technology and other related products. At Heat Recovery Systems, he designs, manufactures and markets a broad range of ventilation systems and fan products for industrial and commercial applications. Prior to this, Mr. Weaver spent 12 years as the President of Tri-Med Environmental Research, Inc. where he was involved in the design, manufacturing and marketing of air purification products for the medical marketplace. He also served as the President for Kleen-Air Company, Inc., the marketing arm of products from Tri-Med and Heat Recovery Systems. Over the years, Mr. Weaver has acquired several patents on newly developed air purification products including ozone and ultraviolet treatment innovations for industrial, commercial and residential applications.
"These three individuals will bring a wealth of business experience, technical expertise and vision to the management team at Megola. We expect them to be a very valuable asset to our company as we expand into new markets with our increasingly diverse line of environmental treatment products," says Joel Gardner, Chief Executive Officer of Megola, Inc.
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.