ALBUQUERQUE, NM--(Marketwired - Jan 7, 2016) - Enerpulse Technologies (OTCQB: ENPT) the manufacturer of Pulstar® Plasma Spark Plugs, announced today that Joseph Gonnella has retired as Chief Executive Officer. Gonnella, with decades of automotive industry experience, will remain active as a member of the board of directors. Lou Camilli, the founder and current President and Chief Technology Officer for Enerpulse Technologies, has been appointed interim CEO. Craig Porter, elected to Enerpulse's board in 2015, has been appointed as Executive Chairman of the Board and will actively assist Camilli in leading the company into aggressive revenue generation starting in Q-1, 2016.
Porter is the founder and President/CEO of The Renaissance Companies, a mid-market commercial general construction firm located in Scottsdale, Arizona. He founded Renaissance in 1991 capitalizing the start‐up with $100,000 of borrowed funds. Under his leadership, the company grew to revenue in 2007 of 160 million dollars with a ROE of over 147%. During the first ten years of Craig's career, he was employed in leadership positions with Bechtel Corporation, Ralph M. Parsons, Perini Building Company, The Trammel Crow Company, and the Del E. Webb Corporation.
Camilli and Porter will jointly address the commercial markets, with particular focus on the industrial engine segment where the company expects rapid revenue growth to be imminent. The action plan, already being implemented, focuses on partnerships with global leaders in engine technology and manufacturing and growing sales substantially in 2016.
Enerpulse Technologies has pioneered plasma-assisted combustion delivered in the form of a conventional spark plug. Its Pulstar® spark plug is a breakthrough that efficiently and cost-effectively reduces exhaust emissions in spark-ignited internal combustion engines; while, at the same time, improves power output and operating stability. During testing, the company has seen some very exciting field results at multiple large industrial engine operators. "As Executive Chairman of the Board, my primary focus will be to quickly convert these co-deployment relationships into revenue generating partnerships," said Craig Porter.
To fund its revenue and partnership growth, Enerpulse Technologies has engaged Chardan Capital Markets as its investment banker to explore a potential capital raise. Chardan is a leading authority on capital solutions for emerging growth companies, raising more than $12.9 billion through more than 250 transactions since 2003. With sufficient funding, the company expects to be able to enter into a stage of significant growth and revenue generation, establishing an exciting trajectory in demonstrating the future viability of Enerpulse's plasma-assisted combustion spark plug technology.
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About ENERPULSE (OTCQB: ENPT)
Enerpulse Technologies, Inc. is a publicly traded company headquartered in Albuquerque, N.M. Founded in 2004; the company develops and manufactures ultra-high performance, low emissions ignition products through the application of pulse power technology. For more information, visit www.enerpulse.com.
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