SPOKANE VALLEY, Wash., May 20, 2015 (GLOBE NEWSWIRE) -- MPM Technologies, Inc., ("MPM" or the "Company") (OTC:MPML) is pleased to announce that Daniel Carraway, PhD, has been appointed to replace interim Chief Executive Officer Peter Colella. Effective immediately, Dr. Carraway is assuming the roles of Chief Executive Officer and Chairman of the Board for MPM.
"We are tremendously fortunate to find someone with Dr. Carraway's moral integrity, business acumen and industry prominence to lead MPM into the future," says Ryan Skinner, MPM Board Member and Chief Operations Officer/Co-Founder of Carbon Cycle Investments ("CCI"), which acquired a controlling interest in MPM following a stock purchase agreement in April 2013. "Daniel's extensive list of business and technical connections around the world provide an immediate benefit to MPM. It's an exciting day for us and our shareholders."
With the appointment of Dr. Carraway, Mr. Colella has resigned as the Company's interim CEO. Tim King, MPM Board Member and Chief Technical Officer/Co-Founder of CCI, acknowledges the hard work and guidance provided by Mr. Colella during his tenure.
"We want to thank Peter for helping position MPM and its shareholders for this next-step opportunity," says Mr. King. "His assistance over the past two years has been invaluable, and it has kept us on course to realizing our long-term vision of making the world a better place through sustainable business practices."
Dr. Carraway bio: Dr. Carraway is recognized globally as a leader in biopolymer technology, and is often consulted with regard to opportunities related to utilization of natural resources for bio-based products. These accomplishments are based in Dr. Carraway's desire to serve others and to improve their lives/work through the wise use of nature's resources. Dr. Carraway completed his formal scientific and technical training at the University of Georgia where he earned a PhD in forest biotechnology in 1996. Since then, Dr. Carraway has continued his quest for continuous learning in order to enable society to benefit from the resources provided by nature without the destructive exploitation that is commonly practiced. His study at the Columbia University Graduate School of Business in marketing management and business strategy has enabled Dr. Carraway to gain insight from some of the brightest minds in business, and he has incorporated this knowledge into his work with leading global corporations. A full CV for Dr. Carraway can be found at this link.
About MPM Technologies, Inc.: MPM is a leading global manufacturer of environmental control equipment and a developer of waste-to-value energy solutions. MPM has offices in Spokane Valley, Wash., and Ramsey, NJ. (www.mpmtech.com)
About Carbon Cycle Investments, LLC: CCI is a holding company that develops, acquires and manages businesses that stimulate social, economic and environmental sustainability. CCI, which acquired a controlling interest in MPM following a stock purchase agreement in April 2013, is based in Spokane Valley, Wash. (www.carboncycleinvestments.com)
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