American Power Group Corp. said Thursday that it named Raymond L.M. Wong to its board of directors. The appointment became effective October 30, 2013. Wong is the managing director of Spring Mountain Capital. He replaces Dr. Aviel Faliks as one of Spring Mountain’s two board of director designees. American Power Group is a provider of alternative fuel solutions for stationary power generators, backup power systems and commercial transportation.
LYNNFIELD, MA–(Marketwired – Oct 31, 2013) – American Power Group Corporation (OTCQB: APGI) announced today that Raymond L.M. Wong, Managing Director of Spring Mountain Capital, LP, has joined the Company’s Board of Directors effective October 30, 2013. Mr. Wong replaces Dr. Aviel Faliks as one of Spring Mountain’s two Board of Director designees.
Mr. Wong has been a Managing Director of Spring Mountain Capital’s private equity group since 2007. Mr. Wong was previously a senior Managing Director in the Investment Banking Division of Merrill Lynch & Co., Inc. While at Merrill Lynch, Mr. Wong served on the Investment Banking Operating Committee and as Chairman of the Corporate Finance Committee. During his 25 years at Merrill Lynch, he had responsibility for the corporate finance relationships for many of the firm’s largest corporate clients. Before joining Spring Mountain Capital, Mr. Wong was the Managing Member of DeFee Lee Pond Capital LLC, a financial advisory and investment firm. Mr. Wong serves on the board of directors of several companies, including Alleghany Corporation and Merrill Lynch Ventures, LLC. Mr. Wong received his M.B.A. with honors from Harvard Business School and graduated summa cum laude from Yale College with a B.A. in Political Science.
Maury Needham, American Power Group’s Chairman of the Board of Directors, stated, “We are very pleased that Raymond has agreed to join our Board. Raymond brings a wealth of expertise and experience in areas of corporate finance as well as developing and emerging energy solutions and we welcome him aboard.”
About American Power Group Corporation
American Power Group’s alternative energy subsidiary, American Power Group, Inc., provides a cost-effective patented Turbocharged Natural Gas™ conversion technology for vehicular, stationary and off-road mobile diesel engines. American Power Group’s dual fuel technology is a unique non-invasive energy enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and compressed natural gas; (3) diesel fuel and pipeline or well-head gas; and (4) diesel fuel and bio-methane, with the flexibility to return to 100% diesel fuel operation at any time. The proprietary technology seamlessly displaces up to 80% of the normal diesel fuel consumption with the average displacement ranging from 40% to 65%. The energized fuel balance is maintained with a proprietary read-only electronic controller system ensuring the engines operate at original equipment manufacturers’ specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications require no engine modifications unlike the more expensive invasive fuel-injected systems in the market. See additional information at: www.americanpowergroupinc.com.