AP NEWS
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Cool Technologies Adds Industrial and Military Leaders to Strategic Advisory Board

January 7, 2020 GMT

TAMPA, Fla., Jan. 07, 2020 (GLOBE NEWSWIRE) -- Cool Technologies, Inc. ( WARM ) (“CoolTech”), an innovator and intellectual property company in mobile energy generation and heat removal technologies, announced today that three industry and military leaders have joined its Strategic Advisory Board. The Advisory Board is an integral part of CoolTech’s overall strategic commercialization plan, and these new members will play a significant role in driving the Company’s business growth, product development and expansion. The three additions to the Advisory Board are Raoul Wood, Harvey Beverly and Hakan Kostepen.

Mr. Wood is an expert in sustainable energy with a background in many of CoolTech’s target markets including electric vehicle charging, defense, oil and gas as well as wind and solar projects. He is also an expert in power generation, specifically, fuel cells, gas turbines, wind turbines, gasified and photovoltaic power plants as well as power plants with co-generation, distributed generation and thermal storage capabilities. Mr. Wood has developed more than twenty public sector solar power projects and more than 2,000 solar electric vehicle charging installations. In total, he is responsible for developing more than 2,200 megawatts of solar power.

Mr. Wood’s background includes work as a Senior Project Engineer for Santa Pacific Pipelines, where he was the first to use large adjustable speed drives for pipeline pumping applications and designed pump systems for petroleum terminals and wastewater installations. He is also a former manager for the electronics division of Hughes Oil Tools where he gained extensive experience in the mining industry. As a NASA Flight Control Systems Engineer, he oversaw and conducted Space Shuttle Flight Testing and other aerospace projects. An instrumental advisor and outside director to numerous worldwide industrial organizations in the areas of energy and defense, he holds a bachelor’s degree in Electrical Engineering from Cal State and a master’s degree in Mechanical Engineering from Stanford.

“After my evaluation of CoolTech’s patents and products, I’m convinced they address the immediate needs for electric vehicle charging and mobile power creation,” stated Mr. Wood. ”There is a vast untapped potential across many industries and sectors.”

Harvey Beverly has also been added to the Company’s Board of Advisors. Mr. Beverly recently finished a 30-year career with the United States Army Corps of Engineers, the federal agency that oversees dams, canals and flood protection as well as public works projects worldwide. He worked in the Los Angeles District which oversees the southwestern United States. Among his notable titles at the Corps, Beverly served as the Project Manager for Operations and Maintenance of all federal facilities in Southern California.

“CoolTech’s products and applications should be a perfect fit for the Corps and other branches of the military,” said Mr. Beverly. “The feedback I’ve gotten from my contacts throughout the district has been exceptional.”

The third addition to the Advisory Board is Hakan Kostepen. Mr. Kostepen recently left his position as Panasonic’s Executive Director of Product Strategy & Innovation, heading up their Silicon Valley Center which was a hub of product development and research for Panasonic’s global ventures in business and consumer electronics, housing and automotive. In that role, he was responsible for the development of advanced technologies for the IoT (Internet of Things) and Mobility 4.0 -- which encompasses connected mobility through interaction of vehicles and information technology -- including all elements of global strategy and innovation for Panasonic Automotive. He is currently the founder and partner of H&K Ventures which provides engineering and technology evaluation, product to platform assessment, market evaluation and validation as well as start to scale-up readiness for companies in the energy and infrastructure markets. The graduate of the MIT Sloan Business School Executive Strategy & Innovation program has bachelor and master degrees in electrical engineering.

“I believe that CoolTech’s MG platform is transformative and fills a much needed void in the mobile power generation space with tremendous market potential across many commercial sectors and countries,” asserted Mr. Kostepen. “My travels to Turkey, Poland, and the Middle East for the past three months have confirmed the untapped demand for the mobile water and power products from CoolTech, FirmGreen and VerdeWatts.”

The Company recently provided an example of the untapped demand: a link to letters signed by 13 government officials and Congressmen in Mexico that were mailed to their counterparts in the US, specifically Governor Gavin Newsom, Secretary Rick Perry, Secretary Wilbur Ross, Senator Mitch McConnell and Speaker of the House Nancy Pelosi.

The letters were a request for collaborative support between the two countries to accelerate CoolTech’s product deployment into Mexico to help solve urgent rural power and water purification problems that are hurting rural communities.

They detail the Mexican officials’ satisfaction with CoolTech’s solutions and management team; highlight the benefits of CoolTech products; state how they could quickly and efficiently address Mexico’s power, irrigation and water pollution problems; and note that the officials expect the products to become a viable part of the country’s infrastructure.

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 ir@cooltechnologiesinc.com.