Executives from Fulbright & Jaworski and Unocal Join ORYXE Energy International
IRVINE, Calif.--Jan. 2, 20056, 2005--| Growing Energy Technology Company Names New Executive Vice President Donald N. Payne, Jr., Ph.D., and Laboratory Director Ronald J. Lukasiewicz, Ph.D. |
ORYXE Energy International announced today that Donald N. Payne, Jr., Ph.D., and Ronald J. Lukasiewicz, Ph.D., have joined the progressive energy technology company.
ORYXE Energy develops and markets proprietary, organic fuel additives for diesel, gasoline and heavy distillates to enable these fuels to burn cleaner, thus reducing toxic environmental emissions. ORYXE Energy has been named to Red Herring's prestigious list of the 100 Most Innovative Companies of 2004. The company's first product to market, diesel additive OR-LED, recently became the only splash-blended diesel additive to win approval of the Texas Commission on Environmental Quality.
"Having Don Payne and Ron Lukasiewicz join our senior management team demonstrates that ORYXE Energy International is an exciting, emerging energy technology company," said ORYXE Energy Chairman and Chief Executive Officer Walter Schindler. "We are confident that their expertise will be a tremendous resource for our company and our strategic partners as we expand our product line."
Donald N. Payne, Jr. holds a Ph.D. in chemistry from the University of Tennessee, Knoxville and is a Registered Patent Agent. As Executive Vice President of Research and Intellectual Property, he will focus on patent strategy and associated research protocol development for the company. Prior to joining ORYXE Energy, Payne served as patent agent for Fulbright & Jaworski LLP and Wildman, Harrold, Allen and Dixon. Prior to becoming a patent agent, he was a research scientist with Hercules, Inc. and The Becton-Dickinson Corporation. Payne is the inventor of three U.S. patents.
Ronald J. Lukasiewicz, Ph.D., holds B.S., M.S. and Ph.D. degrees in chemistry from Providence College, Seton Hall University and the University of Houston, respectively.
As Senior Researcher and Laboratory Director of ORYXE Energy, Lukasiewicz is responsible for fuel additive development, testing and analysis. Prior to joining ORYXE, Lukasiewicz was a technical consultant to several prominent companies in the energy industry. He was a Laboratory Manager at SGI International and a Principal Scientist at Unocal Research and Development Laboratory. He holds three issued U.S. patents in the petroleum area with a fourth patent pending.
Recently, ORYXE Energy added Tucker Fitzpatrick, Janet M. Van Peursem and Kristen M. Reilly to the company's growing executive team. The new executives are joining ORYXE Energy at a significant time in the company's development. The Company's first product to market, OR-LED, became the first and only splash-blended diesel additive to win approval by the Texas Commission on Environmental Quality (TCEQ) to produce a qualifying fuel that meets Texas Low Emission Diesel requirements.
The approval of the ORYXE Energy additive marks the first time the TCEQ, which sets environmental standards for fuels sold in the state of Texas, has allowed both refiners and fuel producers the flexibility of meeting regulatory standards by blending an additive at either distribution locations or at refineries. No other diesel fuel additive has won the TCEQ's approval.
The agency's decision to allow ORYXE Energy to distribute its product for use in Texas will help alleviate supply concerns when new regulatory mandates for diesel fuel are enforced beginning October 1, 2005. These new mandates require on-road and off-road diesel to meet strict environmental guidelines for emissions reductions. Many refinery industry experts have questioned the ability of fuel producers to meet the market demand under the new regulations, especially because other methods would require enormous capital investment. However, with ORYXE Energy's solution, OR-LED can be splash-blended with standard federal diesel at the terminal or refinery, with minimal hardware expense.
OR-LED's approval by the TCEQ followed a rigorous engine testing protocol performed at the West Virginia University National Research Center for Alternative Fuels, Engines, and Emissions laboratory, recognized by the Environmental Protection Agency and certified by the California Air Resources Board. The tests were conducted under strict federal testing guidelines and procedures.
The tests showed that OR-LED demonstrated a greater than 5.7 percent reduction in Oxides of Nitrogen (NOx), greater than 20 percent reduction in Total Hydrocarbons (THC), the main contributors to smog formation and approximately 10 percent reduction in Carbon Monoxide (CO), a poisonous gas, all major concerns for Texas air quality stewards.
About ORYXE Energy
ORYXE Energy International, Inc. (www.oryxe-energy.com), based in Irvine, Calif., develops, certifies, and distributes organic additives that improve fuel performance and reduce toxic emissions from the combustion of hydrocarbons, such as diesel fuel and gasoline. ORYXE Energy's first product to market, the diesel additive OR-LED, is the first and only splash-blended diesel additive to win approval by the Texas Commission on Environmental Quality (TCEQ) to produce a qualifying fuel that meets Texas Low Emission Diesel requirements. Founded in 2001, ORYXE Energy was named to the prestigious Red Herring list of 100 Top Innovators.
Odyssey Venture Partners (www.odysseyventure.com) is the lead venture capital investor in ORYXE Energy.
Forward-Looking Statements
Estimates, expectations, and business plans are forward-looking statements. Actual future results, including product introduction schedules, market receptiveness, regulatory approvals, and commercial viability, could differ materially due to changes in conditions affecting the industry, political, legal or regulatory developments, and market conditions.