SARASOTA, FL — (Marketwired) — 11/05/13 — Frac Water Systems, Inc. (OTCQB: FWSI) (“FWSI” or the “Company”), a water and energy services company focused on delivering superior water management solutions to the US Oil & Gas Industry, is pleased to announce and welcomes the appointment of Mr. Stuart Sundlun to its Board of Directors.
Mr. Sundlun brings over 30 years– experience in establishing, analyzing and funding start-up and emerging companies. Currently, Mr. Sundlun is the Vice Chairman of the BMB Group Ltd, a firm focused on global private equity opportunities which he helped to organize in 2006. Additionally, since 2012 he serves as Chairman of Adaptive Technology International LLC which he co-founded as a developer of business opportunities worldwide for selective disruptive technologies in the clean energy sector.
Since 2006 Mr. Sundlun has served on the board of Aurado Energy LLC, a public company with oil and gas interests in Kazakhstan. Additionally, Mr. Sundlun was a founding member in 2012 of Broadway Resources LLC, a private company currently drilling for oil in the Permian Basin in Texas. Previously, he structured the investment in and served as a board member of South Oil Corporation, an oil exploration company focused in the Astrakhan region in Russia from 2005 until its sale in 2011.
Mr. Sundlun was a co-founder and served on the Board and Investment Committee of the Dignity Fund L.P. which undertook loans to microfinance organizations worldwide from 2006-2011. Prior to this, he was a Managing Director of Global Emerging Markets from 1994 to 2006, a firm which invested in emerging public and private companies worldwide.
Mr. Sundlun began his career as a credit trainee at Chase Manhattan Bank and then as an investment banker at Lehman Brothers. He holds an MBA from the Columbia University Graduate School of Business and a BA, cum laude, in government from Harvard University. Subsequently, he was awarded a Rotary Club Fellowship and spent one year at La Pontifica Católica in Lima, Peru.
Company President & CEO Nadine Smith comments, “We are delighted to have Stuart join with us at this important stage of our development. His insight, experience and global perspective, combined with his extraordinary wealth of contacts across the finance and energy sectors are an immense asset to us, and is something which we value greatly. We are grateful that he quickly determined the value of our business endeavours and we look forward to working together closely in order to build our vision into a thriving and prosperous enterprise.”
Additional details regarding Frac Water Systems, Inc., its business, agreements and related matters are filed as part of the Company–s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission (“SEC”), and are available at the SEC–s website at . For more information, visit .
(OTCQB: FWSI)
Frac Water Systems Inc. (FWSI) is an oilfield service company focused on delivering innovative and environmentally responsible water treatment services to energy companies who are daily confronting the challenge of how to cost effectively manage water issues related to their oil & gas exploration and production activities. Operators within the USA and around the globe are experiencing a relentless need to responsibly manage the generation of large quantities of wastewater from activities in environments and water conditions that may differ dramatically across producing basins. FWSI has identified that the conscientious handling of flowback water generated from fracing, together with the longer term separation and disposal needs of produced water generated throughout the entire life of a well, presents an immediate and compelling business opportunity with long term upside potential. FWSI aims to offer Exploration & Production companies flexibly tailored, efficient, economical and scalable end-to-end wastewater treatment solutions designed to meet or exceed the environmental concerns of government, industry and the public alike. For more information visit: .
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Frac Water System Inc.–s filings with the Securities and Exchange Commission available at: Frac Water Systems Inc. disclaims any obligation to update and revise statements contained in this news release and is current only to the date indicated in the particular press release. To the extent permitted by law, FWSI and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.
On Behalf of the Board,
Nadine C. Smith, CEO
Frac Water Systems, Inc.
FWSI Investor Relations
Tel: +1 (941) 330-6404
Website: