WILTON, Conn., Oct. 25 /PRNewswire-FirstCall/ --
Startech Environmental Corp. (Nasdaq: STHK), a leading manufacturer of
plasma-based systems for the conversion of waste into valuable commodity
products, announced today the addition of Richard M. Messina, managing
director and chief operating officer for the US Global Financial Markets
Division of ABN AMRO, to its board of directors. Mr. Messina will serve on
the company's Audit and Compensation Committees as an independent director.
Joseph S. Klimek, president and CEO, said, "We are extremely pleased to
have a person with Mr. Messina's reputation, background and experience join
our board. He brings to the board significant experience in financial and
operational controls."
Before being promoted to his current position at ABN AMRO in October, Mr.
Messina was managing director and chief operating officer for the Investment
Banking Division since May 2000. Mr. Messina was responsible for the
day-to-day management of the Investment Banking Division for the Americas,
which included all strategic business development, financial accounting
management control and reporting; compensation and annual review management;
human resources planning; operations management and IT systems planning. In
addition to the above duties Mr. Messina also served as deputy to the head of
Investment Banking; was a member of the Management, Equity Investment, and
Capital Markets Commitment Committees. Mr. Messina was also a member of the
senior management integration committee that facilitated the sale and
assimilation of ING Barings with ABN AMRO in May of 2001.
Mr. Messina brings extensive experience in the public and private equity
markets as well as in business operations and finance. His previous
experience includes: director and chief operating officer at SG Cowen
Securities Corporation, New York, New York from 1999 to 2000; executive
director and chief financial officer of CIBC Oppenheimer, New York, New York
from 1998 to 1999; and director and chief of staff at UBS Securities LLC, New
York, New York from 1993 to 1998. Mr. Messina is 42 years old and his term of
office will expire at the next annual meeting of shareholders or until his
successor is duly elected and qualified.
About Startech Environmental Corp:
Startech is an environmental equipment company whose Plasma Converter is
essentially an electrochemical system that, while safely destroying wastes,
even hazardous wastes, converts those materials into useful and valuable
commodity products. It does this economically, efficiently, with relatively
few moving parts, and without combustion. The prime mover in the Plasma
Converter process is the chemical dissociation (decomposition) of the feed
materials after which their elemental components (atoms) are reformed into
useful commodities. The United States Environmental Protection Agency has
designated materials, even if they may have once been regarded as wastes, or
hazardous wastes, undergoing such a recycling process, no longer as wastes,
but as "feedstocks." StarCell(TM) is the Company's new, patented hydrogen
selective membrane system that separates hydrogen from the PCG(TM) produced
from wastes. PCG is a clean synthesis fuel-gas mixture with many commercial
uses. StarCell is not a fuel cell; it is a ceramic membrane filtration system
that extracts hydrogen from PCG. PCG contains a large quantity of hydrogen.
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
development and commercialization of its Plasma Converter(TM) and StarCell(TM)
technology. All forward-looking statements are subject to risk and
uncertainties that could cause actual results to differ materially from those
projected. Factors that could cause such a difference include, without
limitation, general risks associated with product development, manufacturing,
rapid technological change and competition as well as other risks set forth in
the Company's filings with the Securities and Exchange Commission. The
forward-looking statements contained herein speak only as of the date of this
press release. The Company expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any such statement to reflect
any change in the Company's expectations or any change in events, conditions
or circumstances on which any such statement is based.
SOURCE Startech Environmental Corp.
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Related links:
http://www.startech.net
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
CONTACT:
Robert DeRochie, CFO & VP of Investor
Relations, Startech Environmental Corp, +1-203-762-2499;
Investors - Truc N Nguyen, VP, Investor Relations, Stern & Co.,
+1-212-888-0044
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