SANTA ANA, Calif. (Nov. 13, 2012) --SaviCorp® (OTCQB: SVMI - News)
Serge Monros, Founder and CEO of SaviCorp, manufacturer of the DynoValve®, has named Victor A. Chu President of the company, effective immediately. In this position, Mr. Chu will oversee all business operations of the company at its Santa Ana corporate headquarters, including strategic focus on sales, business development, and product development in both domestic and international markets.
"I am excited to welcome Victor Chu to SaviCorp as I transfer full control of the company's day to day operations to his proven and seasoned leadership," said Monros of the new appointment. "This appointment allows me to spend the majority of my time focusing on our strategic direction for research and development of the DynoValve® and the DynoValvePro® for diesel engines, as well as other patents that will enhance the value of SaviCorp."
Chu brings over 20 years of experience developing early-stage companies in a broad spectrum of areas including sales and business development, compliance, operations, marketing, relationship management, and recruiting/training. In 1994, Chu left his position as President/CEO of a general securities brokerage to commit his resources to a regional full-service independent securities brokerage. Over the course of 13 years, Chu was an integral resource in building gross revenues from $8 million to over $150 million generated from clients in over 40 states.
Mr. Chu comments on his appointment this week; "As an automobile enthusiast, I am extremely excited about this rare opportunity to have a significant impact on the growth of a company that offers an excellent product that reduces the carbon footprint from our vehicles while offering performance advantages. I am working immediately to expand fleet sales and develop a national network of distributors and installers for the DynoValve®."
Mr. Chu's appointment at SaviCorp has resulted in initiatives to improve and streamline operational structure, address financial efficiency, and ramp up strategic relationships that will increase sales and revenues across the country and in international markets.
SaviCorp (savicorp.com) is an innovative automotive technology company that licenses, manufactures, distributes and services an array of patented technologies and products that reduce harmful emissions and improve fuel efficiency. The Company, an evolution of more than twenty years of automotive engine emissions testing, materials research and development, was formed to create, support and license our patented supplementary vehicle Emissions Reduction Technologies (ERT) to reduce emissions and improve efficiency. Using proprietary methods and processes, the Company's flagship DynoValve system protects the environment, lessens an engine's carbon offsets, increases gas mileage, and improves engine performance resulting in dramatic savings in both fuel and oil.
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts, to procure future contracts, to acquire certain assets, or to finalize funding for the purchase of certain assets. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.