AJAX, ONTARIO--(Marketwire - March 4, 2013) - Environmental Waste International Inc. (EWS) (TSX VENTURE:EWS) is pleased to announce that Dr. Daniel Kaute has been appointed its President and CEO effective March 4th, 2013.
Dr. Kaute has extensive experience in Business Development in Clean Tech in North America, Europe and Asia. He was most recently President & CEO of Renewable Energy Management, a waste to energy company.
Dr. Kaute has a Ph.D in Materials & Mechanical Engineering from Cambridge University (UK). Dr. Kaute said, "I am very excited about the market potential for EWS's microwave gasification technology and the immediate opportunity to commercialize it."
A Board member said, "When we announced our search for a new CEO we said we were looking for someone with the skills to commercialize our proprietary technology. We believe we have found that person in Daniel Kaute. His technical knowledge and experience fit EWS's needs extremely well."
As part of Dr. Kaute's compensation, he has been granted options pursuant to the Company's stock option plan to purchase 1,000,000 shares of EWI at an exercise price of $0.20 per EWI share for a period of five years. The options are subject to a vesting schedule whereby 333,333 will vest 6 months from date of grant, 333,333 will vest 12 months from date of grant and 333,334 will vest 18 months from date of grant.
Dr. Stephen Simms, the former President & CEO, remains on the EWS Board. EWS also announced that Michael Abrams, its part time CFO, will retire after a transition period.
EWS has designed systems for the breakdown and recovery of usable by-products from several organic materials, including rubber tires, and for the sterilization of medical, animal, liquid and food waste. EWS continues to explore other applications for its technology. Please visit the EWS website at www.ewmc.com.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.