Plutonic Power Corporation

Plutonic Power Corporation

September 29, 2009 07:00 ET

Plutonic Power Corporation Appoints Phil Fontaine and David O'Brien to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2009) - Plutonic Power Corporation's (TSX:PCC) Chairman of the Board of Directors, Walter Segsworth, is pleased to announce the appointment of Phil Fontaine and David O'Brien to the Company's Board of Directors effective immediately.

Mr. Fontaine is the past National Chief of the Assembly of First Nations, a position to which he had been elected an unprecedented three times. The Assembly of First Nations is the national organization which represents Canada's First Nation peoples. Mr. Fontaine has a long and impressive history of serving First Nations and Canada, having held his first position of elected office at 28 years of age as Chief of the Sagkeeng First Nation in Manitoba. His career has taken him through progressively greater responsibilities, first in regional and provincial positions and culminating in his long and influential time on the national stage. Mr. Fontaine has a degree in Political Science from the University of Manitoba and has been the recipient of numerous honourary degrees throughout his career. He is also a Member of the Order of Manitoba.

Since 2004 David O'Brien has been the President and Chief Executive Officer of Toronto Hydro Corporation. Toronto Hydro is Canada's largest municipally-owned electrical utility responsible for providing electricity to the City of Toronto, which represents 18.5% of the electricity consumers in the Province of Ontario. Prior to joining Toronto Hydro, Mr. O'Brien had extensive experience in municipal administration and the Ontario electricity industry. He has held the position of City Manager in a number of cities in Ontario, culminating with 10 years as City Manager in Mississauga. He then served as Chief Executive Officer and Board Member of Enersource Corporation, a diversified energy and technologies company serving residential and business customers in Mississauga. Mr. O'Brien served a six-month secondment to the Government of Ontario as Associate Deputy Minister and then Deputy Minister of Energy. Mr. O'Brien has a Bachelor of Arts degree from the University of Windsor and serves on the Board of the Ontario Municipal Employees Retirement System (OMERS).

"Plutonic has been extremely fortunate to be able to attract such accomplished Canadians as Phil Fontaine and David O'Brien to our Board of Directors. Their collective breadth of experience and knowledge about national issues and electricity will serve our shareholders well as Plutonic continues to evolve into a world-class Canadian clean energy company," said Walter Segsworth.

About Plutonic Power Corporation

Plutonic Power's vision is to provide leadership and create a legacy through the development of renewable, reliable, clean energy projects. Its proposed Green Power Corridor ™, comprised of 42 generation facilities (including the 2 facilities being constructed by the Toba Montrose General Partnership), could have the capacity to meet the annual energy needs of about 660,000 homes and offset more than 4.4 million tons of CO2 emissions every year - the equivalent of taking more than 850,000 cars off the road. Build out of the Green Power Corridor TM, including the current construction of the $660 million, 196 megawatt East Toba River and Montrose Creek run-of-river hydroelectric project, could create approximately 6,500 person-years of employment. Plutonic Power is committed to working in partnership with First Nations, stakeholder groups and local communities in the development of all of its projects. By developing its suite of projects, Plutonic Power will help British Columbia realize its goal of becoming electricity self-sufficient by 2016 utilizing 90% clean domestic generation sources, will create employment opportunities and will play a significant role in the fight against climate change.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

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