Vancouver, BC - August 27, 2009 - Plutonic Power Corporation
(TSX: PCC) announced today has appointed Mr. Paul Sweeney to the
position of President effective immediately. Mr. Sweeney's previous
role in the company was Executive Vice-President Business Development.
Mr. Bruce Ripley, former President and Chief Operating Officer of
Plutonic Power will continue in his role as Chief Executive Officer of
the Toba Montrose General Partnership (TMGP). This realignment of roles
is a reflection of the responsibility of Mr. Ripley in overseeing the
delivery of the Toba Montrose project on time and on budget as the
partnership nears completion of construction and enters the critical
commissioning and operations phase.
"Mr. Sweeney has been a key and productive member of our executive team
since 2006," said Plutonic Power's Vice-Chair and CEO, Donald McInnes.
"I look forward to continuing to work with both Mr. Sweeney and the rest
of our executive team in building Plutonic Power into one of Canada's
leading clean energy companies."
In his capacity as President, Mr. Sweeney will be responsible for the
day-to-day administration of Plutonic Power's activities, including
project development, engineering and permitting.
Plutonic Power is rapidly advancing construction of the Toba Montrose
Project through and investment partnership with GE Energy Financial
Services. Plutonic and GE Energy Financial Services are considering the
acquisition of the fully permitted Dokie Wind Project. Plutonic and GE
Energy Financial Services have also jointly made two bids into the BC
Hydro 2008 Call Power Call for the Upper Toba Valley and Bute Inlet
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 TM, comprised of 42 generation
facilities (including the two facilities being constructed by 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.
Office: 604-669-4999 ext 1034