SOURCE: IO Circuit

June 13, 2007 06:30 ET Open Energy (OTC BB: OEGY) Management Undergoes Reorganization

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA--(Marketwire - June 13, 2007) - Open Energy Corporation (OTCBB: OEGY) is a renewable energy company focused on the development and commercialization of technologies capable of providing low-risk, cost-competitive electricity, and fresh water on a global basis. This week, Open Energy announced that it's management team has undergone some reorganization. David Saltman, CEO of Open Energy, explained the management realignment, "We need a senior leadership team capable of managing dramatic growth within a rapidly evolving business environment." A new CFO has been appointed, and several key members received promotions. The new senior management team has experience, and the deep understanding of financial planning, analysis, business development, corporate governance, SEC compliance, and the organizational issues involved in marketing and financing systems.

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