Sankar DasGupta, President and CEO of Electrofuel Inc. announced theappointment of two new executives to the senior management team: Upkar Arora as ChiefFinancial Officer and Michael Kraik as Vice President, Corporate Development.
Sankar DasGupta stated, “Electrofuel is delighted to have attracted executives of such exceptionaltalent. Their leadership skills and proven record of execution will assist Electrofuel in capitalizingon market opportunities in industries such as portable computers, mobile telephones, and otherwireless devices.”
Mr. Arora has 15 years of experience in world-class organizations in North America andinternationally and will lead Electrofuel’s finance team. Mr. Arora was previously ManagingDirector of a $400 million private equity fund established with Onex Corporation to invest in smallcapitalization companies in North America. From 1995 to 1999, Mr. Arora was employed byTrizecHahn Corporation in Canada, the United States and most recently in London, England asExecutive Vice-President and Chief Financial Officer of its European operations, a division hehelped to establish. He has held various positions covering finance, mergers and acquisitions,business development, operations and treasury activities for Reichmann International, Olympia andYork Developments, and Nortel Networks. He is a Chartered Accountant, a Certified ManagementAccountant and holds a Master’s degree from the University of Waterloo, Ontario.
We also appointed Michael G. Kraik as Vice President, Corporate Development in January 2000.From 1996 to 1999, Mr. Kraik was a business advisor at RBC Dominion Securities Inc. Prior tothat time, Mr. Kraik was a Vice President with CIBC Securities and a Vice-President and directorof CIBC Investors Edge, with responsibilities for corporate governance issues and businessintegration efforts with the parent bank. Mr. Kraik has also been Chief Counsel and Secretary toManulife Bank, Chief Compliance Officer, Legal Counsel and Secretary to Manulife Securities,and Legal Counsel to the investment funds, banking and life insurance subsidiaries within theLaurentian Group. Mr. Kraik obtained his Bachelor of Laws from Osgoode Hall Law School,Ontario and is a member of the Ontario Bar.
Electrofuel Inc. has developed a proprietary lithium ion polymer technology that enables us toproduce portable rechargeable batteries with significantly longer run-times for their size thanrechargeable batteries currently in commercial production. The development of smaller portableelectronic devices with more features has contributed to dramatic market growth in portablecomputers, mobile telephones and other wireless devices. These trends are placing increasingdemands on existing battery technologies to deliver more energy through smaller and lighter-weight batteries. In response, Electrofuel has developed the PowerPad160, an external battery forportable computers which provides 16 hours of run time. We have also developed the EF2100battery that provides approximately two and one-half times the talk and standby time of batteriescurrently used with Nokia phones. Electrofuel’s goal is to become the leading provider of portablepower technology for the portable computer and wireless sectors, and to apply its technology toapplications in the transportation, defense, aerospace, consumer products and medical industries.
For more information, please contact:
Electrofuel Inc.
Upkar Arora
(416)535-1114 ext 227
uarora@electrofuel.com
iContact Communications
Meigan Terry
(416) 926-2492
meigan.terry@icontact.ca