Tonbridge Power appoints Etchart as chairman

2009-10-29 20:18 ET - News Release

Mr. Johan van't Hof reports

TONBRIDGE POWER BOARD OF DIRECTORS ELECT JOHN ETCHART TO POSITION OF CHAIRMAN

Tonbridge Power Inc. has elected John Etchart to the position of chairman of the board of directors. Based on a thorough review and subsequent recommendation from the independent members of the board's nominating committee, Mr. Etchart was elected for his expertise, and the years of experience in energy, transportation and infrastructure that he brings to the board and to Tonbridge Power's management team.

A resident of Helena, Mont., Mr. Etchart has been a member of Tonbridge Power's board of directors since the company's inception in 2005. As an experienced executive and adviser to various levels of government and business in Montana and the northwestern United States, his guidance has been essential in steering the company through the highly complex regulatory and political challenges faced during the development of the MATL project.

The company will now focus its growth and development of merchant transmission projects primarily in the United States, where stranded renewable generators need transmission capacity to get their power to markets. The recently announced Western Area Power Administration loan and partnership agreements with Tonbridge further emphasize the requirement for the senior leadership of the company to have deep industry expertise and experience doing business in these jurisdictions.

"Tonbridge has a record of achievement in an exciting and important market sector," Mr. Etchart said. "As we grow, I am happy to have the opportunity to serve our shareholders in this key role."

Mr. Etchart's resume includes undergraduate and graduate degrees from Montana institutions, as well as a combat command tour as a United States Marine Corps infantry officer in Vietnam. He served for nearly 10 years in a variety of senior roles as an executive officer with Burlington Northern and was appointed to two terms on the Northwest Power Council by Montana Governor Marc Racicot. Mr. Etchart was three times elected chairman of the Power Council and, for the past several years, has been a partner with Gallatin Public Affairs, a leading regional strategic communications firm. Mr. Etchart presently serves as a director of the Mergenthaler Companies, and the advisory board of the Smithsonian's Air and Space Museum.

As chairman of Tonbridge Power, Mr. Etchart will continue to advise the company on the business, political and regulatory landscape in the U.S., and will actively engage with management to expand the company through Tonbridge's business development efforts.

Acting interim chairman, Johan van't Hof, chief executive officer of the company, expressed his enthusiasm and full support for the appointment.

"I'm thrilled to have Mr. Etchart's support and guidance in the role of chairman going forward as I've had the opportunity to work closely with him over the last four years. This appointment is particularly helpful to me as it frees me up to focus exclusively on my duties as Tonbridge's CEO under the direction of the board," he said. "This is an exciting time for our company and I am looking forward to capturing the several transmission development opportunities that are now before us."