SOURCE: USA Synthetic Fuel

March 08, 2010 07:46 ET

USA Synthetic Fuel Corporation Names John L. Kelly to Board of Directors

CINCINNATI, OH--(Marketwire - March 8, 2010) - USA Synthetic Fuel Corporation (PINKSHEETS: USFC), an environmentally focused company developing advanced clean energy production facilities across America, today announced the appointment of veteran investment banking and management executive John L. Kelly to the Board of Directors. Kelly, 56, becomes the third member of the Company's board.

Chairman Harry H. Graves said, "John Kelly is a highly accomplished executive with a deep and diverse background in the capital markets industry, and we are fortunate to add someone of his caliber to our board of directors. John has dedicated his entire career to helping build value for growth companies and their shareholders, and we look forward to benefitting from his energy, vision and experience."

"USA Synthetic Fuel is on the cutting edge of technology capable of producing enormous amounts of clean energy for many years to come, in the process moving the United States closer to energy independence while dramatically reducing carbon emissions," said Kelly. "I look forward to working with the management team and board to advance the Company's goals of growth and the creation of shareholder value."

Kelly brings to USA Synthetic Fuel more than 35 years of business, finance, investment banking and portfolio management experience with major banks and investment firms. He was most recently a senior advisor with JL Thornton & Co. in New York, where he worked closely with John L. Thornton, the former president and co-chief operating officer of Goldman Sachs, providing strategic advice on business and financial matters to a variety of clients in the U.S. and China.

Prior assignments include five years with Société Générale Securities (SG) and its successor company, SG Cowen. At Société Générale he served in various capacities, including head of capital markets as well as head of portfolio management and a member of the management committee for SG Americas. He also served as chief operating officer of SG Cowen, overseeing capital markets and execution activities in both the equity and fixed income divisions. Earlier executive positions included managing director and head of Asian fixed income capital markets at Bear Stearns, investment banking with First Boston, and private equity manager with the Meriwether Capital unit of Rockefeller Family & Associates.

Kelly holds a Bachelor of Arts degree from Yale University and an MBA from Yale School of Management.

About USA Synthetic Fuel Corporation

USA Synthetic Fuel Corporation (USASF) is an environmentally focused "green" company developing advanced, clean energy conversion and production facilities across America. The Company is built on a 21 year history of environmental technology and advanced clean energy systems work at Global Energy that has resulted in a proprietary expertise in the operation of low cost ultra clean BTU converters. This platform has been built around acquisitions of key gasification technology and gasification technology facilities in transactions with original investment values over $3 Billion by the U.K. Government, U.S. Government, British Gas, Dow Chemical and Global Energy. Advanced Environmental Technology has been optimized to deliver a unique contribution to a Cleantech USA: low cost clean energy. America's solid hydrocarbon resources from renewables, biofuel, petcoke and coal may now be converted in a closed system with zero emissions to low cost clean energy products such as pipeline gas, hydrogen and transportation fuel. USA Synthetic Fuel Corp. will build a portfolio of Ultra Clean BTU Converters across America delivering energy independence, national security, and leading environmental and economic results for the USA.

Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. USASF undertakes no obligation to publicly update or revise any forward-looking statements, because of new information and/or future events. Future events and actual results may differ materially from those set forth herein.

Contact Information

  • Contact:
    Pfeiffer High Investor Relations, Inc.
    Investor Relations Counsel for USASF
    Jay Pfeiffer
    Phone: 303-393-7044