Amerigon Appoints New Directors
NORTHVILLE, Mich., Feb. 16, 2007 -- Amerigon Incorporated , a leader in developing products based on advanced thermoelectric (TE) technologies for a wide range of global markets and applications, announced today that Maurice E.P. Gunderson, Daniel R. Coker and Lon E. Bell, Ph.D., have been appointed to its Board of Directors, effective immediately. Gunderson replaces Robert T. Howard who resigned effective February 12 to return to his duties as President of TMW Enterprises, Inc. Coker and Dr. Bell fill vacancies that already existed on the Board. The size of Board is seven members.
Gunderson is a Venture Partner at CMEA Ventures, a San Francisco-based venture capital firm, and is the Managing Member of the consulting firm Shingebiss, LLC. Previously, he spent 15 years as the co-founder and Managing Director of Nth Power, a venture capital firm specializing in investments emerging from the global restructuring of the energy industry. Gunderson received a B.A. and M.S. in mechanical engineering from Oregon State University and an M.B.A. from Stanford University.
Coker is currently President and Chief Executive Officer of Amerigon. He joined Amerigon in 1996 as Vice President of Sales and Marketing and has served in his current position since 2003. Coker received his Bachelor's degree from Tennessee Technological University.
Dr. Bell founded Amerigon in 1991 and has served as President and Chief Executive Officer of the Company's BSST subsidiary since 2000. He served as Director of Technology until 2000, Chairman of the Board and Chief Executive Officer until 1999, and President until 1997. Dr. Bell received a B.S. in mathematics, a M.S. in rocket propulsion and a Ph.D. in mechanical engineering from the California Institute of Technology.
Chairman Oscar B. (Bud) Marx commented, "We look forward to Maurice, Dan and Lon joining the board and bringing their reputable experience to bear as we take our next steps in corporate development. As an outside director, Maurice brings to our board extensive expertise in the energy industry. His considerable experience will be extremely valuable as we continue our work to bring advanced thermoelectric technology products to the market. We also would like to thank Robert Howard for his contributions to the board and wish him the best in the future."
About Amerigon
Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. The Company's current principal product is its proprietary Climate Control Seat(TM) (CCS(TM)) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually and actively control the heating and cooling of their respective seats to ensure maximum year-round comfort. CCS, which is the only system of its type on the market today, uses no CFCs or other environmentally sensitive coolants. Amerigon maintains sales and technical support centers in Los Angeles, Detroit, Japan, Germany and England.
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company's actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, additional financing, if necessary, may not be available, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to Amerigon's Securities and Exchange Commission filings and reports, including but not limited to its Form 10-Q for the period ended September 30, 2006 and its Form 10-K for the year ended December 31, 2005.