SolarReserve Hires Top Energy and Technology Expert - Tom Georgis Appointed as Vice President of Development

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LOS ANGELES, Calif., May 12 (SEND2PRESS NEWSWIRE) -- SolarReserve, the Los Angeles-based solar thermal power company, has announced the hiring of Tom Georgis as Vice President of Development. Georgis will be responsible for developing solar power projects in the United States and internationally. SolarReserve holds the exclusive license for the breakthrough molten salt power tower technology with energy storage developed by United Technologies Corporation subsidiary, HS Rocketdyne.

Caption: molten salt power tower technology"Tom has a unique background that will be an asset to SolarReserve," said Kevin Smith, Chief Operating Officer and Head of Development for SolarReserve. "His combination of high-level technology and power project development experience provides the added expertise SolarReserve needs at this critical point in our growth."

Prior to joining SolarReserve, Mr. Georgis was Managing Director of International Operations at GlobalTec Solutions, a privately held technology company. Previous positions include Managing Director at Exodus Energy LLC, where he acted as lead developer on a number of innovative technology energy facilities, and Manager of Power Project Development at Enron International. Mr. Georgis also served nine years as a Naval Special Warfare Officer (SEAL) in the United States Navy.

"In the age of the $120 barrel of oil and natural gas prices above $11 per MMBtu, SolarReserve's technology will help us meet the ever-increasing demand for power while reducing our dependence on fossil fuels," said Georgis. "I can think of no better - or more meaningful - way to apply my knowledge and expertise."

Mr. Georgis graduated from Northwestern University with a Bachelor of Arts degree in International Studies and obtained a Masters of Business Administration degree from the Anderson School at the University of California, Los Angeles (UCLA).

About SolarReserve
SolarReserve is a collaboration between United Technologies Corporation (UTC, NYSE: UTX), a Dow 30 conglomerate, and U.S. Renewables Group, a private equity firm focused exclusively on renewable energy. SolarReserve holds the exclusive worldwide license to build state-of-the-art Concentrated Solar Power (CSP) plants that use a molten salt system manufactured by HS Rocketdyne, a subsidiary of UTC.

SolarReserve's CSP plants capture and focus the sun's thermal energy with thousands of tracking mirrors, or heliostats, onto a central receiver - heating the molten salt to over 1000 degrees Fahrenheit. The heated molten salt then flows into a thermal storage tank where it is stored, maintaining 98% thermal efficiency, and then pumped to a steam generator, creating steam to drive a standard turbine to generate electricity.

This process is revolutionary because it allows renewable and dispatchable energy generation at a utility scale. It does not require any fossil fuels to maintain the system integrity, and therefore has zero harmful emissions.

As countries seek to develop and promote clean, renewable, independent energy resources at a utility scale, SolarReserve offers a breakthrough technology that is economically competitive with modern fossil fuel plants, and which is sheltered from future increases in the price of oil, natural gas, coal, and other fuels.

For more information about SolarReserve, please visit

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REFERENCES: SolarReserve energy storage, molten salt power tower technology, SolarReserve, molten salt power tower technology, solar thermal power company, Tom Georgis, CSP plants, Concentrated Solar Power, HS Rocketdyne, United Technologies Corporation, NYSE: UTX, Kevin Smith, news, press release from SolarReserve, May 12, 2008, Management Changes, , , , , SolarReserve Hires Top Energy and Technology Expert - Tom Georgis Appointed as Vice President of Development