SOURCE: Propel Fuels

Propel Fuels

July 08, 2010 09:00 ET

Leading Minds Join Propel to Build-Out the Nation's Largest Network of Renewable Fuel Stations

Executives in Finance, Construction, Retail Operations and Technology, Accelerate Expansion

SACRAMENTO, CA--(Marketwire - July 8, 2010) -  Propel Fuels (www.propelfuels.com), a leading retailer of clean, renewable fuels, announced the addition of four senior executives with deep experience in finance, construction, retail operations, and technology from leading consumer brand companies. These new team members provide the additional experience, expertise, and innovation needed as Propel begins building out the nation's largest alternative fuels network. Through the use of advanced technologies, Propel aims to redefine the fueling experience for consumers, allowing drivers to break their dependence on petroleum.

Additions to Propel's senior management team include:

  • Andy Wynne, Chief Financial Officer -- Prior to joining Propel, Mr. Wynne served as CFO and Executive Vice President of Tully's Coffee Corporation, a leading specialty coffee retailer and wholesaler with retail penetration of more than 600 branded global locations.
  • Jim Iacoponi, Vice President of Operations -- Mr. Iacoponi brings nearly three decades of downstream, commercial, and retail fuel management experience to Propel, most recently serving as Vice President of Strategy and Planning for Arco and BP ampm convenience stores.
  • Jim Cannon, Vice President of Construction and Development -- Prior to joining Propel, Mr. Cannon served as Vice President of Design, Construction, and Facilities at Jack-In-The-Box, and has overseen development for numerous retail brands including 24 Hour Fitness, BRIAZZ, Boston Chicken, and Stride-Rite. 
  • Michael Sarwari, Director of Technology Development -- Mr. Sarwari has 15 years of experience in full range of IT operations for diverse organizations within the Internet, Entertainment, Education, Human Resources and Real Estate industries.

"The only way our nation can break the addiction to petroleum fuel is to make domestically-produced, renewable fuel convenient and affordable for the mainstream consumer," said Matt Horton, CEO of Propel. "With the capital we have raised, our unique customer experience, and these key additions to our team, we are making renewable fuels a part of our customers' everyday experience."

Propel is embarking on a rigorous expansion to dramatically increase the availability and convenience of renewable fuels to consumers, businesses and public agencies. The new executives each bring the experience needed to achieve the planned growth. Earlier this year, Propel Fuels raised $20 million in venture and debt funding to enable rapid expansion across the state of California.

"It is time to grow the business of specialty fuels and ignite an emotional attachment with our customers," said CFO Andy Wynne. "Tully's was part of the specialty coffee industry changing the way we experience coffee, and I am enthusiastic about Propel remaking how America fuels."

Reshaping the industry begins with Propel's proprietary "locationing" technology used to assess markets and ensure location convenience for alternative fuel vehicle owners. It continues with the company's modular build-out process and station design, incorporating green build standards for energy efficiency, construction materials, environmental monitoring, along with renewable fuel products from local, sustainable sources. The customer experience is enhanced through technologies such as Propel's award winning CleanDrive™ platform (http://www.propelfuels.com/content/cleandrive/); the industry's only personalized carbon emissions tracking system. Propel sees an opportunity to further redefine the fueling experience and build a brand loyalty unique in the industry through unique station services, an improved fueling kiosk and interactive customer service.

About Propel
Propel builds, owns and operates a network of Clean Fuel Points -- green-built, self-serve filling stations providing convenient access to clean, American, low carbon fuels. The company offers drivers and fleets a cleaner fuel choice that reduces carbon emissions, creates jobs and lowers America's dependency on foreign oil. Propel has also developed CleanDrive™, the nation's first integrated carbon emission reduction tracking platform. Propel operates a growing network of Clean Fuel Points in Washington State and California. More information is available at www.propelfuels.com.

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