Contact Information: MEDIA CONTACT: Nancy Tamosaitis Vorticom Inc. 212.532.2208
PetroBeam Promotes Joe Lee to Chief Operating Officer
| Source: PetroBeam, Inc.
RALEIGH, NC--(Marketwire - January 5, 2009) - PetroBeam, Inc., the leading developer of high
energy electron beam processing techniques to upgrade heavy oil and
bitumen, announces the promotion, effective January 1, 2009, of Mr. Joe S.
Lee to Chief Operating Officer. Mr. Lee has been serving as Director of
Operations since joining the company last summer.
"Joe has brought real value to the day-to-day operations of the company,"
said G.R. "Bud" Brainerd, President and Chief Executive Officer, PetroBeam,
Inc. "His management and financial skills are a perfect fit for this stage
of the company's development."
Mr. Lee holds a BS in Engineering from Vanderbilt and an MBA from Wake
Forest University. Prior to joining PetroBeam, he was Vice President of
Golub Capital, a $4.0 billion private investment firm based in New York,
providing senior debt, mezzanine debt, and equity capital for middle-market
leveraged buyouts. Mr. Lee also spent four years with Kimberly-Clark
Corporation, as a Process Engineer managing a 60 person, multi-discipline
project team through the start-up and on-going operations of a
manufacturing facility dedicated to sole source a unique, nonwoven material
used in all Huggies® diapers worldwide.
About PetroBeam:
PetroBeam, Inc. is the leading developer of electron beam processing
techniques to upgrade heavy oil and bitumen. Founded in 2005, PetroBeam is
a privately held technology development company engaged in world class
scientific leadership and innovation designed to impact the global
petroleum industry. Since inception, PetroBeam has raised over $9.5 million
of capital, including a $6 million equity investment from Ion Beam
Applications S.A., www.iba-worldwide.com, the global leader in electron
beam accelerators with approximately 80% of the installed power worldwide.
The company's corporate and engineering offices are located in Raleigh, NC
and the Research & Development lab and demonstration plant is on Long
Island, New York. For more information, visit the company's web site at
www.petrobeam.com.