HydroGraph Appoints Director of Business Development

Rhea-AI Summary

HydroGraph Clean Power Inc. announced the appointment of Jennifer E. Carmichael as Director of Business Development for Lubricants, effective August 1, 2022. Carmichael brings over 13 years of experience in the oil and gas sector, focusing on high-performance lubricants, a market projected to grow by 3.7% CAGR through 2028. CEO Stuart Jara emphasized her expertise in identifying market needs as critical for HydroGraph's growth strategy. The company, listed on the Canadian Securities Exchange, specializes in the green production of graphene and hydrogen.

Positive

• Jennifer Carmichael's extensive industry experience may enhance business development opportunities.
• The lubricants market is expected to grow, providing potential revenue growth for HydroGraph.

Negative

• There are concerns about the continuity and experience gap in leadership with new appointments.

TORONTO, Aug. 11, 2022 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. ("HydroGraph" or the "Company"), is pleased to announce that Jennifer E. Carmichael has joined the organization as Director of Business Development (Lubricants), effective Monday, August 1.

Jennifer brings a diverse technical and commercial background, with over 13 years of experience in product development, commercialization, and business line growth in the oil and gas industry. Jennifer will focus on the demand for high performance lubricants which is targeted to grow by 3.7% (CAGR) through 2028 from $128B in 2020.

“Bringing Jennifer onboard and further building out our salesforce is yet another layer to our overall growth approach and strategy,” said Stuart Jara, CEO of HydroGraph. “Jennifer is a technologist by trade with a proven track record of taking emerging technology and identifying high potential market needs and mapping prospective customer demands. She will be a true asset to our success in penetrating new markets within a highly competitive market space.”

“The HydroGraph technology has the capacity to revolutionize the quality, sustainability, and accessibility of graphene and graphene-based materials, worldwide,” said Carmichael. “With my technical background and experience in driving new business growth, I am very excited about joining this talented team and making the HydroGraph technology available to the global market.”

Prior to joining HydroGraph, Carmichael held various strategic roles in energy and specialty chemicals, most recently serving as the dedicated Global Account Manager to ExxonMobil and Chevron at Schlumberger. Jennifer was responsible for developing and executing global business strategies for key accounts to achieve revenue, profitability, and increased market share.

Carmichael graduated Summa Cum Laude with a Bachelor's of Science in Industrial Chemistry from The University of Houston and has been recognized extensively throughout her career with formal awards and recognitions.

About HydroGraph
HydroGraph Clean Power Inc. was founded in 2017 to fund and commercialize green, cost-effective processes to manufacture graphene, hydrogen and other strategic materials in bulk. Publicly listed on the Canadian Securities Exchange Dec. 2, 2021, the Company acquired the exclusive license from Kansas State University to produce both graphene and hydrogen through their patented detonation process. More information about the Company and its products can be found on the HydroGraph website. www.hydrograph.com/

For company updates, please follow Hydrograph on LinkedIn and Twitter.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", “upon” "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to, the Company’s future products and personnel appointments; the scaling up of the Company’s Manhattan, Kansas factory to commercial capacity; the Company’s possible exploration of future development in the Manhattan region; and the Company’s future attendance at The Advanced Materials Show event.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of HydroGraph to control or predict, that may cause HydroGraph’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: HydroGraph’s ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. HydroGraph does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

Contacts:

HydroGraph Investor Relations
Kjirstin Breure
kjirstin@hydrograph.com

HydroGraph Media Contact
Kristin Schaeffer
kristin@amfmediagroup.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/67557edc-a300-4701-b051-bc5a85ed7c84

FAQ

What is the background of Jennifer Carmichael, the new Director of Business Development at HydroGraph?

Jennifer Carmichael has over 13 years of experience in the oil and gas industry, specializing in product development and market strategies.

When did Jennifer Carmichael join HydroGraph Clean Power Inc.?

Jennifer Carmichael joined HydroGraph as Director of Business Development on August 1, 2022.

What market is Jennifer Carmichael focusing on at HydroGraph?

Carmichael will focus on the high-performance lubricants market, which is projected to grow by 3.7% CAGR through 2028.

What is the significance of Jennifer Carmichael's appointment for HydroGraph?

Her expertise is expected to strengthen HydroGraph's business development and market penetration strategies.