Prometheus Energy Appoints Jim Aivalis as CEO

HOUSTON, Jan. 2, 2013 /PRNewswire/ -- Prometheus Energy Group, Inc. ("Prometheus Energy" or the "Company"), an energy company specializing in liquid natural gas fuel solutions, announced today that it appointed Jim Aivalis as chief executive officer and a member of its board of directors, effective January 7,  2013. Mr. Aivalis will be responsible for the overall management and growth of the Company. Michiel Boersma, Chairman of the Board, commented, "I am very pleased to have Jim Aivalis join Prometheus Energy as CEO. Jim's successful long term experience as a leader in the energy industry will further strengthen the Company as the largest and fastest growing supplier of liquefied natural gas (LNG) to the industrial sector in North America."

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Mr. Aivalis brings more than 30 years of energy industry experience to the Company. Prior to joining Prometheus Energy, Mr. Aivalis was the CEO and President of ThruBit Logging Solutions, a Schlumberger company. ThruBit developed and commercialized new downhole data acquisition technology. Mr. Aivalis previously spent years as Managing Director of Tenaris, a leading global manufacturer and supplier of pipe products and services to the energy industry. Prior to Tenaris, Mr. Aivalis had various senior management roles in Schlumberger.

Commenting on his move to Prometheus Energy, Mr. Aivalis stated, "I am excited to join Prometheus Energy and lead a great and committed team. Prometheus Energy has a compelling customer value proposition as the leading supplier of LNG to the industrial sector in North America. I look forward to working with our customers and suppliers to increase the replacement of oil derivatives with natural gas, especially in the energy and mining industries."

Mr. Aivalis succeeds previous CEO Ron Bertasi, who stepped down in December last year.

About Prometheus Energy

Prometheus Energy is one of the largest and fastest growing suppliers of liquefied natural gas (LNG) to the industrial sector in North America.  Prometheus provides turnkey fuel solutions to convert industrial users of diesel, propane and other crude-derived fuels to clean, domestic, secure LNG, resulting in reduced fuel cost and environmental footprint.  The company is vertically integrated from LNG production through distribution, onsite storage, and vaporization. A pioneer in the industrial LNG market, Prometheus developed first-of-their-kind conversions of industrial fuel consumers to LNG in numerous sectors, and was named a Finalist in the 2012 Platts Global Energy Awards in recognition of its industry leadership. Prometheus Energy is privately held by Shell Technology Ventures Fund 1 B.V. and Black River Asset Management LLC, a wholly owned but independently managed subsidiary of Cargill.  For more information, please visit www.PrometheusEnergy.com

Contacts
Kehau Kincaid
Laurie Nix Garberg
[email protected]
www.PrometheusEnergy.com

SOURCE Prometheus Energy