Global Energy Appoints Nissan Caspi and Amir Elbaz to Its Board of Directors

NEW YORK--(BUSINESS WIRE)--Global Energy (OTCBB: GEYI.OB), an alternative energy pioneer, announced today that it is appointing Mr. Nissan Caspi and Mr. Amir Elbaz to its Board of Directors, enhancing the company’s talented group of financial and environmental leaders.

Additionally, the company announced the resignation of Jos Neuhaus from its Board of Directors for personal reasons.

Nissan Caspi (CPA, MBA) is experienced in the analysis and financing in the infrastructure sector and is the founder and Co-CEO of Eco Capital Ltd. which operates in the field of energy and related projects. Previously the CFO of Veolia Israel (formerly Vivendi), Mr. Caspi has also led the financial closing of one of the world’s largest sea water desalination projects – the VID Project, which produces approximately 100,000,000 cubic meters of fresh water per year. Mr. Caspi is the former Chairman of the Insurance Fund for Natural Risks in Agriculture (INFRA), an Israeli government-backed entity. Previously, Mr. Caspi served as the head of the accounting department at the Hebrew University of Jerusalem. Mr. Caspi holds an MBA and BA degree in accounting and economics from the Hebrew University of Jerusalem and is certified as CPA in Israel.

Amir Elbaz serves as the Executive Vice President & Chief Financial Officer of the Lithium Technology Corporation (LTC). Mr. Elbaz has also worked as a director at Prime Capital Investments, BV, a Dutch venture, and as Vice President of Corporate Finance at Cornell Capital Partners, LP. A former financial analyst with the Economic Department in the Procurement Mission of the Israeli Ministry of Defense in New York City, Mr. Elbaz holds a BA degree in Geography focusing on environmental studies from the University of Haifa Israel, and an MBA in finance & investments from Bernard Baruch College, CUNY, New York.

“We are looking for the addition of Mr. Caspi and Mr. Elbaz’s strong business acumen to the Global Energy team, which will strengthen our company and help us achieve our growth objectives,” stated Asi Shalgi, CEO of Global Energy. “I am very excited that they are joining our team, and confident that their talents will help Global Energy move forward with financially strong projects that encourage sustainable energy growth, improve environmental responsibility and make sound business sense.”

About Global Energy

Global Energy (www.global-energy.net) is an alternative energy pioneer with the mission of commercializing innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.

Forward-Looking Statements.

Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labor problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we will not be able to execute our business plan, such as entering into agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary governmental, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; and (x) the possibility that our technology does not work as well as expected. Investors should consider all of these risks and should also refer to the risk factors disclosed in the SEC filings of Global Energy.

Ruder Finn Israel for Global Energy
Matthew Krieger, +972-544-676-950
matthew@ruderfinn.co.il