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FOR IMMEDIATE RELEASE
USPowerSolutions Announces new Appointment
Salvatore; A. Deluca, Jr., Chief Financial Officer
CAMBRIDGE, MA., April 5, 2001 - USPowerSolutions, the leading
Business Solution Provider (BSP) of customer-centric, enterprise-wide
solutions for the restructuring energy marketplace, announces today
the appointment of Salvatore A. DeLuca, Jr., as the company's new
Chief Financial Officer (CFO). Prior to USPowerSolutions, Mr. DeLuca
was the CFO for Industry to Industry, Inc., a marketplace service
provider specializing in dynamic trading technology and related
e-services delivered through a unique managed solutions approach.
"We are excited to have Sal join our senior management team,"
as stated by Alex Kanuth, President and CEO of USPowerSolutions.
"Sal's financial knowledge and expertise in building companies
are talents that will help push our company to the next level. He
possesses over 16 years of financial experience working with companies
at different stages in their life cycle. Sal's clear ability to
execute combined with an intimate knowledge of successful business
strategies will help reinforce our business model and prepare us
for unprecedented growth."
As CFO, Mr. DeLuca will be responsible for the company's finances
and will work closely with the ongoing relationships that USPowerSolutions
has established with prominent technology, investment banking, and
energy leaders. He will also work with the management team to ensure
that existing business processes are aligned with the company's
financial goals, vision and growth plans as USPowerSolutions prepares
for the increased demand for its products and services.
"I am excited to be a member of USPowerSolutions' management
team. As CFO, I am convinced USPowerSolutions has built a superior
solution for the energy industry and am further impressed by the
people and their successful track record of execution, especially
in a marketplace that is being driven by financial, technological
and regulatory changes. This is a very exciting time for USPowerSolutions
as more energy companies begin to acquire their "best of breed"
technology and services and look for alternative solutions to traditional
systems integration strategies. I look forward to working with the
existing management team, board members and employees in taking
USPowerSolutions to the next level of their business model and creating
significant shareholder value," as stated by Sal DeLuca, CFO
of USPowerSolutions.
During his tenure, Mr. DeLuca as CFO of Industry to Industry, led
the Company's financial and administrative growth, participated
in raising and closed on more than $51 million in private financing
and was involved in developing relationships with key strategic
partners. In addition, Mr. DeLuca has also held various financial
positions at Seachange International, Inc., software-based systems
to digitally manage, store and distribute video, Acentech Incorporated,
Multi-disciplined Acoustical Consulting Firm and Deloitte &
Touche.
Mr. DeLuca holds a Bachelor of Science degree from Boston College,
as well as an MBA from Bentley College.
About USPowerSolutions®
USPowerSolutions is the leading Business Service Provider of customer-centric,
enterprise-wide solutions for the restructuring energy marketplace.
PowerSolution® provides energy companies with a single integrated
point of access to best-of-breed providers across the entire energy
value chain. Using an innovative and proprietary technology platform
and a unique application delivery method, USPowerSolutions is able
to very rapidly deploy world-class enterprise information systems
that are cost effective, easy to manage, and highly flexible. USPowerSolutions'
customers include some of the most innovative energy companies in
North America. Headquartered in Cambridge, MA.
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