ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT
A. Directors and Executive Officers.
Name Age Office (1)
Gloria Rose Ott ............................ 46 Chairman of the Board and Director
Joseph P. Maceda ........................... 48 President and Director
Robert L. Campbell ......................... 56 Vice President and Director
J. Michael Hopper........................... 53 Secretary/Treasurer
Thomas G. Redmon............................ 55 Senior Vice President & General Counsel
Philip M. Johnson........................... 45 Vice President, International Operations
Blair Aiken................................. 33 Senior Vice President Business Development
1. Directors serve a term of one year. Gloria Rose Ott was a Director of the
Company from May 26, 1998 to September 18, 1998. Subsequently, Ms. Ott and
Messrs. Maceda and Campbell became Directors of the Company on June 22, 1999 as
a result of the merger of PTC Holdings, Inc. with and into the Company.
Previously, all such persons were Directors of Holdings. Gloria Rose Ott had
served as Director and Chairman of the Board of Holdings since October 1998;
Joseph P. Maceda had served as a Director of Holdings since January 1997; and
Robert L. Campbell had been a Director of Holdings since June 1997.
Ms. Gloria Rose Ott - Chairman Of The Board. Ms. Ott joined the Company as
Chairman of the Board in October, 1998. Ms. Ott was founder and Chairman of
Rapid Tech, Inc., from 1995 through 1999. RapidTech, a privately held
corporation, managed a Defense Advanced Research project that employed agile
manufacturing standards to the eventual mass-production of hybrid vehicles,
teaming with Detroit Center Tools and the Taylor Dunn Company.
In 1994, Ms. Ott received a Presidential Appointment and served on the Board of
Directors of the Overseas Private Investment Corporation (OPIC) until 1999. OPIC
sells investment services to assist U.S. companies in some 140 emerging
economies around the world with an active portfolio of $18.3 billion. In
addition, from 1992-1998 Ms, Ott served as the President of Miraido Corporation,
building a $24 million mixed-used real estate project on a city block in San
Jose, California. Ms. Ott earned her Bachelor of Arts Degree at San Francisco
State University and completed her graduate studies at Sonoma State University.
Joseph P. Maceda - President. In January of 1997, Mr. Maceda founded
Manufacturing Technologies Corporation to pursue the modular seawater
desalination and power markets. This company became a wholly owned subsidiary of
PTC Holdings, Inc, in March of 1998. Mr. Maceda also served as President. In
June, 1997, PTC Holdings merged with PTC Group, Inc. (OTCBB Symbol: PWRE), and
Mr. Maceda became President of the merged company.
Mr. Maceda has 22 years of experience in business development, management,
finance, technology acquisition, and development in support of product
Since Mr. Maceda founded the Company in January 1997, he has devoted 100% of his
time to the development of the business that has evolved into Ocean Power. As
the financials show, Ocean Power has had no sales since its inception. For the
seven and half years prior, Mr. Maceda, was the VP of Development of H Power. In
March of 1987, Mr. Maceda founded Teledata International, Inc., which was
developing wireless, wide-area networks for remote monitoring and control
systems. Fuel cells were a subsidiary technology development as power supplies
but in June 1988, because of the potential of fuel cells, all other technologies
were shelved and a new corporation was formed call H Power Corporation, to
develop fuel cell, hydrogen generation, and storage technologies for use in the
battery replacement, stationary power, and transportation markets.
From June 1998 until he left H Power in December, 1996, Mr. Maceda raised money,
found technologies and developed strategic partnerships for marketing and
manufacturing with companies such as Singapore Technologies, Rolls-Royce; Neste
Oy; IBM; Duquesne; Sumitomo; British Nuclear Fuels; the U.S. Department of
Defense; the U.K. Ministry of Defense, and others.
Robert L. Campbell - Vice President. Mr. Campbell has 24 years experience in the
high technology sectors of the defense electronics industry, is a pioneer in the
conversion of defense technologies to peaceful applications, and has 10 years
experience in the seawater desalination industry. Prior to founding Integrated
Water & Power,(IW&P) during 1997, Mr. Campbell was founding President and Chief
Executive Officer of Advanced Distillation Technology (ADTech, founded 1991). He
was responsible for the identification and negotiation of Kaiser Aerospace &
Electronics, Saudi Industries for Desalination Membranes and Systems, and
Singapore Technologies Automotive as key investors and partners. He was
responsible for ADTech's system design and the location and selection of all key
technologies and personnel. While Mr. Campbell was President and CEO of Advanced
Distillation Technologies, a development stage company, working on exactly what
its name describes. This company had no sales in the time Mr. Campbell was
In 1983, Mr. Campbell founded, operated and developed Advanced Counter Measure
Systems (ACMS) a privately held corporation which supplied advanced technology
electronic systems to all U.S. military services and several federal agencies.
During 1987 and 1988 Mr. Campbell arranged and concluded the significant sale of
equity in ACMS to TRW, Inc., of Delaware and EDO Corporation of New York.
While at Watkins-Johnson Co. from 1966 to 1983 Mr. Campbell progressed from
Member to the Technical Staff in Device R&D to Staff Scientist in Electronics
Warfare Systems, to Founding Department Manager of the Electronics Warfare
From 1967 to 1970 while in military service ((U.S. Army Security Agency and
Strategic Communications Command) he designed and deployed extensive test
networks used to explore Electromagnetic Pulse effects in support of the
Safeguard Anti-Ballistic Missile System development. Mr. Campbell is a graduate
of St. Mary's College of Moraga, California (B.S. Physics, 1966), did graduate
studies at the University of Arizona (Systems Engineering 1968), participated in
the Honors Program at Stanford University (Microwave Engineering, 1975) and
holds a California State Teaching Credential (lifetime).
J. Michael Hopper - Secretary/Treasurer. Mr. Hopper joined the Company in
January of 1997. Prior to his current position, from 1986 to 1996 Mr. Hopper was
President, Founder and Partner of Rainbow Video Duplicating, Inc., of New York,
a video duplicating service company with clients in corporate, medicine,
entertainment, and instructional fields. Mr. Hopper worked closely with clients
through all stages of package, design, printing, duplication, fulfillment and
final production of an annual distribution exceeding 3 million units. Mr. Hopper
has a Bachelor of Arts degree in communications from the University of Florida.
Thomas G. Redmon - Senior Vice President & General Counsel. Thomas G. Redmon,
joined Ocean Power on January 1, 2001 as Senior Vice President and General
Counsel. Mr. Redmon received a Doctor of Jurisprudence from University of
California at Davis in 1969.
From 1976 through 1997 he was a partner with the law firm of Wilke, Fleury,
Hoffelt, Gould and Birney. During that time he did both litigation and
transactional work serving as business and corporate counsel for a number of
small to medium sized businesses and specializing in complex business litigation
in the healthcare and accounting fields. Mr. Redmon was appointed Managing
Partner in 1998 and held that position until December, 2000. During his tenure
as Managing Partner, Mr. Redmon was responsible for all aspects of the business
operations of the firm.
Blair Aiken - Senior Vice President Business Development. Mr. Aiken joined Ocean
Power Corporation, New York Office on January 1, 2001, from Hydrogen Performance
Technologies, or HyPerTec. Mr. Aiken has 10 years experience developing and
advising companies. Over the last three years, Mr. Aiken has focused on emerging
technology start up concerns, through Think tank Capital in New York. He
originated and evaluated start up technology companies, for investors advising
clients whether to proceed with development and/or financing. Industries of
clients previously under advisory included: defense contractors, content,
computer security, power generation and fuel cells. Working closely in 1999 with
MIT Media Lab start up, which designed the new generation of wearable computers
and medical devices. In late 1999, this work lead to the founding of Hydrogen
From 1995 until 2001, Mr. Aiken was with AIM Inc., based in Europe, where he
worked to improve and perfect business practices of large European
multinationals, first for Akzo Nobel Inc., and later Mobil Oil, SCA Paper, Fuji,
Schiphol Airport, and others. Focusing on paradigm improvements through the
"Best Practice" approach has helped clients attain world-class status in the
field of site operations with specific attention to safety, health and
AIM Inc. authored and implemented training programs for do-it-right the first
time processes to increase productivity and profits, decrease injuries, reduce
illness rates, and reduce unacceptable emissions to the environment. Employees
from the Shop Floor to the Board Room are taught total involvement for mutual
success. The Aim Training, Tools and Process Controls are in use in North
America, South America, Europe (18 countries) and will be introduced in Africa
and the Far East in the new millennium.
Philip M. Johnson -Vice President, International Operation. Mr. Johnson joined
the Company in September, 2000 as the Company's Vice-President responsible for
International Operations. Philip joined Ocean Power from Innogy, and prior to
that, National Power. Immediately prior to Ocean Power, from 1997, Mr. Johnson
was Managing Director of Innogy, where he was responsible for the development of
the Regenesys(TM) regenerative fuel cell system. From the period 1989 to 1997,
while at National Power, Mr. Johnson created four successful businesses, two
based on service provision and two based on unique intellectual property. He has
global experience in power project development and technology development
including product and brand management, process, licensing and joint ventures.
Philip personally led some of National Power's major change programs and was
National Power's first Business Development Manager. He has extensive experience
in the energy sector, covering business development and policy, corporate
strategy, economics, finance, regulation, institutional development, power
production, transmission, distribution and sales.
A Coopers & Lybrand-trained management consultant, Philip has carried out a wide
variety of UK and overseas assignments in Energy and Water. His earlier career
involved periods with The North of Scotland Hydro-Electric Board, British
Electricity International and the Central Electricity Generating Board.
Mr. Johnson, a citizen of the U.K., received an M.B.A. (Distinction) from
Glasgow University and a B.S.C. with Honors from Aston University. He is a
Chartered Engineer, and a member of the Institution of Electrical Engineers, the
Institution of Mechanical Engineers, and the Institute of Energy.
Robert Zhao, Ph.D., Director Of Fuel Cell Technology
Dr. Robert Zhao has 17 years of research and development experience in the field
of electrochemical energy generation and storage, ranging from primary and
secondary batteries to fuel cells. He holds a Ph.D. in Electrochemistry from
Case Western Reserve University, Cleveland, Ohio. As the director of the
Company's fuel cell technology, he oversees the development of fuel cell
components and low temperature fuel processors.
Before he joined the Company, Dr. Zhao was the program manager of high power PEM
fuel cells and a member of the company's strategic planning committee at H Power
Corporation. He was with H Power for two months before accepting his present
position with the Company in May 1997. His responsibilities at both companies
are in the area of electrochemical development. Specifically he has worked on
advanced fuel cell electrodes, stacks, and systems. Currently he is working on
advanced alkaline fuel cell technology as well as low-temperature hydrogen
While Dr. Zhao was working on Defense Advance Research Projects Agency (DARPA)
projects at CCES (Case Center for Electrochemical Sciences), he accumulated five
years of experience on the electrochemical properties of small organic molecular
fuels. He has designed and expanded a variety of technology tools to enhance the
development of direct organic fuel cell technologies, such as direct methanol
fuel cells (DMFC). Dr. Zhao's experience also includes the development of
maintenance-free lead-acid and lithium batteries.
Randall L. Peeters, PhD, Chief Scientist
Dr. Peeters joined the Company in December, 2000 as Chief Scientist. In his
capacity as Chief Scientist he directs the development of platelet hot end
devices for Stirling engines. This project is multidisciplinary in nature,
international in scope, and has the potential to revolutionize Stirling engine
applications. Randy received his Ph.D. and MS degrees from the University of
Washington in Aeronautics and Astronautics and his BS degree in Aerospace
Engineering from the California State Polytechnic University.
Before joining Ocean Power, Randy was the Chief Scientist for GenCorp Aerojet.
His primary responsibility was to ensure that Aerojet remained technically
viable in a constantly changing, demanding and competitive marketplace. Dr.
Peeters had previously served as Manager of Aging and Surveillance, Manager of
Advanced Technology, Director of Chemical Research and Development, Director of
Chemical and Material Operations, Director of Research and Development, Director
of Advanced Development Engineering, and Vice President of Engineering since
joining Aerojet in l982. These organizations varied in size from 10 to 1050
employees and included numerous projects covering a broad spectrum of
interdisciplinary activities including liquid rocket engines, solid rocket
motors, satellites, armaments, weapon systems, environmental remediation,
resource recovery, chemical synthesis, and pharmaceuticals.
He has extensive management training, including courses at Aerojet, Eastman
Kodak and Xerox Corporations, UC Davis, and Cal Tech. He has also recently
pursued graduate and undergraduate course work at UC Davis resulting in two
certificate programs in the environmental area. He has over 35 technical
publications and presentations, has chaired seven technical sessions at national
meetings and has served on six professional society committees. Currently he is
an Associate Fellow of the American Institute of Aeronautics and Astronautics, a
member of Tau Beta Pi, on the board of directors for the California Engineering
Foundation and the Software Productivity Consortium, and serves on the Advisory
Boards for the Highly Filled Materials Institute at the Stevens Institute of
Technology, the California State Polytechnic University, and the University of
B. Section 16(a) Beneficial Ownership Reporting Compliance
The Company has been informed by J. Michael Hopper, Secretary/Treasurer of the
Company during the fiscal year 2000, that his Form 5 due on February 15, 2001
reporting a grant of options by the Company during 2000 was filed with the
Commission on March 29, 2001.