VICTORIA, BRITISH COLUMBIA -- (Marketwire) -- 04/18/11 -- E. S. I. Environmental Sensors Inc. ("ESI" or the "Company") (TSX VENTURE: ESV) is pleased to announce the appointment of Stephan Radermacher and Johan Grandin to the Board of Directors for the Company. The Company continues to execute its new strategy with regard to board and executive management restructuring as well as innovative market driven product development.
Stephan Radermacher brings 20 years of industrial management experience to the Board and will act as its Chairman. A business lawyer by education with law degrees from Germany (Munich LMU) and the U.S. (Duke), he has held various executive officer positions in private as well as in large international public corporations, among them ABB Power Generation, a global business with several hundred subsidiaries. Focusing on business development and corporate restructuring, Mr. Radermacher most recently joined an international consultancy as Managing Partner. In 2010 he assumed the role of Board Member and Chief Operating Officer of Avis Financial Corporation, which has recently acquired 30,000,000 common shares of ESI along with 30,000,000 share purchase warrants.
Johan Grandin has over 20 years of experience working with public companies and a proven track record in raising venture capital. Currently working with Element and Associates of Vancouver, BC, a full service corporate finance company, Mr. Grandin brings an extensive expertise in corporate financial restructuring and capital markets to ESI. Through his past officer and director positions for various public issuers, Mr. Grandin has learned to streamline growth initiatives with precision. Having also worked in the field of engineering, Mr. Grandin holds a Masters of Science degree in Business Economics and Engineering Physics.
In addition to the above changes, Ian Middleton, Nicolas Loebel and Edwin Mitchell are voluntarily stepping down from the Board of Directors for ESI; they will continue to provide advisory support to ESI's Board and executive management going forward. These directors have achieved much during their terms, both in terms of financings and product development milestones, as well as seeing ESI through some difficult financial times. The Company is extremely thankful for the dedication and perseverance all three of these directors have demonstrated throughout their years of service to the Company and its shareholders.
The new Board of Directors and executive management team look forward to continuing with recent product development initiatives and enhancements as they move the Company to financial and market success.
About Avis Financial Corporation
As an international business developer, Avis Financial provides a comprehensive package of services to its portfolio companies and supports them with its business network and extensive expertise. Avis Financial's services include capital and operational restructuring, business development and placement preparation. For further information on Avis Financial, please visit their website at www.avisfinancial.com.
ESI is a leading manufacturer of patented and proprietary solutions for environments where understanding the presence, movement, and/or amount of water are important. Major market sectors include: agriculture, golf and turf, scientific research, civil engineering, mining, environmental monitoring and crude oil production. ESI solutions have been successfully introduced into more than 40 countries to enable customers to optimize their operations by monitoring the presence and movement of water, managing irrigation systems, and monitoring the integrity of landfill covers. In addition, ESI's Flo.Point instrument has been deployed in the oil industry to measure the volumetric presence of water pumped during crude oil extraction for characterization and optimization of the process. ESI differentiates itself by translating the best technology and science available into practical, easy to use solutions. Irrigation managers, reservoir engineers, and scientists have adopted ESI's products for their accuracy, ease of use, repeatability, and ability to operate in challenging environments. ESI is publicly traded on the TSX Venture Exchange under the symbol "ESV". Further information about ESI may be obtained through the Company's website at www.esica.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.