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White Energy Names William Zipf as Vice President, Marketing and Development for North American Operations

Posted on: Wednesday, 24 June 2009, 07:30 CDT

ROCKVILLE, Md., June 24 /PRNewswire-FirstCall/ -- White Energy Coal North America, Inc. (WECNA), a subsidiary of White Energy Company Limited (ASX: WEC) (OTCQX: WECFY), today announced that William B. Zipf has joined the Company as Vice President of Marketing and Development. Mr. Zipf is responsible for identifying opportunities and developing projects that are consistent with the Company's long-term strategic plan.

Prior to joining White Energy, Mr. Zipf worked at NRG Energy where he served in a variety of roles with rising responsibility in both commercial operations and energy risk management. Most recently, Mr. Zipf was Director of Origination, where he led the fuel origination activities, focusing on coal and emissions. In this role, he oversaw the development of a commercial strategy to build a carbon offset portfolio to manage the exposure of a merchant coal generator to the risks of a regulated carbon market. He also played a significant role in NRG's power plant development initiative, its 2006 $1.1 billion hedge reset, and the 2005 $8 billion acquisition of Texas Genco. At NRG, Mr. Zipf also held Manager positions in Structure Pricing & Redevelopment as well as Risk Analytics.

"We are pleased to welcome Will to White Energy," said Judy Tanselle, President of WECNA. "He is a utility industry veteran with proven operations experience and commercial knowledge in energy, fuels, and carbon markets. We believe his expertise, particularly from a project development standpoint, will be critical in helping the Company identify opportunities to utilize its exclusive Binderless Coal Briquetting process and become the preferred source of fuel for US power generators."

Prior to joining NRG, Mr. Zipf served in various risk management and trading roles at DTE Energy, BDM Consulting Engineers and Koch Industries.

Mr. Zipf holds a Masters of Business Administration in Finance and Information Systems from the Carlson School of Management at The University of Minnesota and a Bachelor of Science in Civil Engineering with a specialty in Environmental Engineering from Texas A&M University. Additionally, Mr. Zipf is certified as a Financial Risk Manager and earned his Professional Engineer (Mechanical) license.

About White Energy Coal North America

White Energy Coal North America, Inc. (WECNA), headquartered in Rockville, Maryland, is a U.S. subsidiary of White Energy Company Limited, a Sydney-based company (ASX: WEC) (OTCQX: WECFY). WECNA's parent company is the exclusive worldwide license holder of the Binderless Coal Briquetting process, which upgrades lower rank coal to significantly increase its energy efficiency and lower emissions. The patented process involves the crushing, drying and briquetting of high moisture coals, resulting in the reduction of the moisture content of the coal and converting the product into a higher energy content, stable product, while maintaining the low sulphur, low ash characteristics of the feedstock coal. The advantages of this process involve creating a higher energy value coal, creating a physically and chemically stable product, significantly enhancing coal transportation efficiencies and creating a higher energy value release. The process has been shown to be cost and operationally superior to competing technologies and represents a first step in building a cleaner coal solution. More information can be found on White Energy Company's website at www.whiteenergyco.com.

Contacts:

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the prospectus, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

SOURCE White Energy Company Limited

Source: PR Newswire

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