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News 2003

 

 


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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