Finavera Solar Energy Announces Changes to Board of Directors and Senior Management Team

VANCOUVER, Sept. 15, 2015 /CNW/ - Finavera Solar Energy Inc. ('Finavera' or the 'Company') (TSX-V: FVR) Finavera is pleased to announce the appointment of Ken Stadlin and Michael Clark to the Board of Directors. 

Mr. Stadlin is founder and president of Kenergy Solar, a Washington, DC based solar installer.  Founded in 2009, Kenergy has established a leading position in the residential and commercial sectors in the mid-Atlantic region.  As a member of the Board of Directors for Maryland DC Virginia Solar Energy Industries Association (MDV-SEIA), Ken has played an active role in ongoing policy developments in the Maryland and Washington DC markets.  He has served as Chairman of the DC Policy Committee for MDV-SEIA.  His broad knowledge of the industry is combined with practical knowledge and experience gained from developing over 7 MW of solar PV projects.   He has a Bachelor of Arts Degree from the University of Virginia and an MBA from the University of Maryland. 

Mr. Clark brings almost two decades of senior public affairs, branding and strategic communications experience to Finavera. He is currently a consultant in the natural resource and project development industry and is responsible for media relations, public affairs and stakeholder engagement for a variety of public and private companies. Michael is formerly a Senior Vice President of Business Development for Finavera Wind Energy where he was responsible for stakeholder engagement, media relations and environmental assessment programs. Prior to joining Finavera Wind Energy, Michael worked for more than a decade as a radio and television journalist at the Canadian Broadcasting Corporation.

"Ken Stadlin brings a wealth of solar experience to our board of directors and will help Finavera's growth in the solar industry," said CEO Jason Bak. "Michael Clark brings significant marketing, public affairs and project development experience that will help us capitalize on the solar opportunity in front of us. Both will help us take advantage of the opportunity facing Finavera Solar Energy."

The Company also announces the resignations of Hein Poulus from the Company's Board of Directors and Peter Leighton as President and Chief Operating Officer. Mr. Poulus and Mr. Leighton are both leaving in order to pursue other opportunities.

"With the transition from wind energy to solar energy, both Mr. Poulus and Mr. Leighton decided to step aside and pursue other opportunities as we build a solar focused team," said Chairman and CEO Jason Bak. "Mr. Poulus has been a valued member of the Finavera team since it was founded and I would like to thank him for his many years of service. He helped guide our Company through early development while still private, the development of more than 360 MW of wind projects, and the transition to the residential solar installation industry. Mr. Leighton provided positive leadership to our team of project developers and helped Finavera secure four power purchase agreements for wind projects in British Columbia. I would like to thank Hein and Peter for their contributions and wish them the best of luck in their future endeavors."

Jason Bak, Founder, CEO and Director of Finavera, will replace Mr. Poulus as Chairman.

Jason Bak, CEO

About Finavera Solar Energy Inc. (www.finavera.com)
Finavera is focusing its renewable energy development efforts on residential and utility scale solar projects in America. Through its subsidiary, Solar Alliance of America, Finavera's mission is to create and operate a diversified portfolio of renewable energy projects while protecting and enhancing the physical and social environment.  Finavera has developed over 360MW of wind projects and subsequently sold them to utilities or large independent power producers.

About Solar Alliance Of America Inc. (www.solarallianceofamerica.com)
Located in San Diego, California, Solar Alliance is a solar sales and marketing firm focused on residential solar installations.  In 2013, Solar Alliance had $20.7 million in revenue and was ranked #49 on Inc. magazine's Top 500 list of America's Fastest Growing Private Companies, making it #2 in the San Diego Area and #9 on the list of Top 100 California companies.  In 2012, Solar Alliance was rated #45 on the Top 500 list.  From its inception in 2009, Solar Alliance has installed more than 1,500 residential solar systems in southern California.

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words "would", "will", "expected" and "estimated" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

SOURCE Finavera Wind Energy Inc.

Finavera Solar Energy, Jason Bak, CEO, [phone], [email protected]