Shane Osborn Joins Ocean Thermal Energy Corporation as Program Manager for Federal and Commercial Partnerships
As a combat-decorated U.S. Navy veteran, Osborn earned international recognition for his extraordinary leadership after safely landing a damaged U.S. Navy EP-3 aircraft following a mid-air collision in international airspace with a Chinese fighter jet in 2001. His heroism earned him the Distinguished Flying Cross and the Meritorious Service Medal. Osborn later served as Nebraska State Treasurer, overseeing over Sl7 billion in pension assets and implementing award-winning transparency initiatives.
He is also the founder and CEO of RWH Energy, a Service-Disabled Veteran-Owned Small Business (SDVOSB) recognized by the U.S. Department of Energy as an approved Energy Service Company (ESCO).
In his new role at OTE Corp, Osborn will lead engagement with the U.S. Department of Defense, U.S. Army, U.S. Navy, and strategic commercial partners, helping to identify, secure, and manage mission-critical energy and water infrastructure projects that will improve resiliency through energy independence for remote military bases in tropical regions.
'We are honored to welcome Shane to the OTE team,' said Jeremy P. Feakins, Chairman and Chief Executive Officer at OTE Corp. 'His leadership, integrity, and extensive federal experience perfectly align with our mission to deliver sustainable infrastructure where it's needed most.'
Contract for U.S. Army Through Johnson Controls
OTE Corp is executing a significant contract with Johnson Controls to support a U.S. Army base in the Pacific. This project focuses on implementing advanced Ocean Thermal Energy Conversion (OTEC) technology to enhance energy resilience and reduce dependence on imported fuels. OTE's systems are designed to deliver continuous, 24/7 baseload renewable power tailored for the unique needs of remote or mission-critical military installations.
This contract represents a pivotal milestone for OTE Corp, underscoring the U.S. military's confidence in our deep technical expertise, engineering innovation, and decades-long experience with OTEC technology.
About Ocean Thermal Energy Corporation (OTE Corp)
OTE Corp is a U.S.-based renewable energy company specializing in Ocean Thermal Energy Conversion (OTEC) and Seawater Air Conditioning (SWAC) systems. OTEC harnesses the temperature difference between warm surface and cold deep seawater to generate clean, reliable, and sustainable baseload power, making it especially valuable in tropical regions and island nations. SWAC uses deep seawater to deliver energy-efficient cooling for buildings and facilities, dramatically reducing electricity consumption and emissions.
With a long history of developing OTEC systems for U.S. military and island applications, OTE Corp is positioned at the forefront of climate-resilient infrastructure, helping to meet energy and water security needs in strategic global locations.
Safe Harbor Statement
Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding OTE's plans or expectations constitute forward-looking statements. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, without limitation: a decision by any of the interested parties to not enter into a definitive power purchase agreement; the inability of the parties to successfully negotiate and enter into a definitive power purchase agreement; the inability of the parties to meet every closing condition contained in such definitive power purchase agreement and the protection and maintenance of OTE's intellectual property rights.
Additional information and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in OTE's periodic reports filed with the Securities and Exchange Commission under the heading 'Risk Factors.' Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change.
Except as required by law, OTE disclaims any obligation to update these forward-looking statements to reflect future information, events, or circumstances.
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