CALGARY, AB — (Marketwire) — 01/23/13 — Petrosonic Energy, Inc. (OTCQB: PSON), an emerging leader in heavy oil upgrading and related technologies, announced today the addition of Richard Raisig as the company–s Chief Financial Officer.
As a newly appointed member of the management team, Mr. Raisig will be responsible for leading and managing all of the company–s corporate and managerial finance functions including planning, budgeting and analysis. With 10 years experience as a CFO for a public technology company and nearly 20 years experience as a CFO, Mr. Raisig will oversee all finance and accounting functions, including reporting of operating and financial results, and will play a key role in supporting Petrosonic–s growth and business development initiatives.
Mr. Raisig joins Petrosonic from Connexed Technologies, Inc., a start-up technology company, where as CFO, he has worked with the management team in developing the company–s strategic plan and financing strategies. Raisig has also held senior financial executive positions at Aurora Systems, Inc. and at Microvision, Inc. where he developed and managed the finance function and helped raise over $100 million of financing for the company. As a member of executive management with both companies, he and his team supported all business development, product development and planning activities.
“I am thrilled to have someone with Richard–s skills and experience join our executive team as our new CFO,” said Art Agolli, Chief Executive Officer of Petrosonic. “Richard has an outstanding record for driving and managing growth in a public company with leading edge technology. With his arrival, we are adding substantial operating strength and depth to our team at a time when we are about to undertake key development initiatives such as bringing production online at our upgrading plant and the commencement of revenue generation.”
In addition to his experience as both an officer and director of a publicly traded start-up high technology company, Mr. Raisig–s career also includes work as an investment banker with Dean Witter Reynolds and in public accounting with Price Waterhouse.
“Petrosonic is a dynamic company that I believe is in the right place at the right time with a technology solution for heavy oil upgrading that opens new and potentially lucrative opportunities for small producers and provides a powerful new tool for large producers to manage costs while optimizing throughput,” said Raisig. “I believe that the company is well positioned and offers great potential for sustained growth. I am excited to be joining at such an inflection point, as we prepare to move into commercial production with a unique and highly innovative technology.”
Mr. Raisig received an MBA in Finance from the University of Southern California, an MS in Accounting from California State University and a Bachelor–s in Economics from UC Irvine.
About Petrosonic Energy, Inc.
Petrosonic Energy was established to deliver innovative technologies to the energy sector. Our current primary focus is to provide technologies that upgrade heavy oil economically and in an environmentally friendly manner. Our patented Sonoprocess uses cleantech sonic energy to de-asphalt heavy oil at much smaller scale and lower capital costs than conventional upgraders and without the use of water or release of emissions in the atmosphere.
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the company–s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
Petrosonic Investor Contact:
Tel: (866)295-2348