Global Water Technologies Announces Management Appointments

Global Water Technologies, Inc. (GWT), a full-service cooling water treatment company utilizing advanced technologies and engineered solutions to provide process cooling water to power plants, process industries, HVAC and municipalities worldwide, announced the appointment of Steven B. Rash as President of Global Water Technologies, Inc., Mr. Chad Moller as Director of Finance and Accounting for GWT, and Ron Bernard as the Senior Vice President of Applied Water Technologies, Inc. (AWT).

Following 10 months of consulting services to the Company, Mr. Rash joins GWT as its President and will focus his efforts on investment banking activities, as well as identifying strategic opportunities consistent with positioning the Company for continued growth and profitability. Mr. Rash brings to the Company more than 20 years of business and management experience that encompasses a variety of multi-national manufacturing and service industries with particular emphasis in all phases of domestic and international operations management, including P & L accountability. Mr. Rash has previously held senior management positions with Fortune 500 Companies, including General Foods, Carborundum Corporation, and BOC Group, as well as executive positions with small- and mid-cap companies, whereby he was directly involved in pre-IPO start-ups, corporate turnarounds, reorganizations, mergers and acquisitions, business consolidations, and corporate finance. In addition to his role as President of GWT, Mr. Rash will also serve as acting Chief Financial Officer until the Company appoints a new CFO following Mr. Martin Hout's return to the position of Controller. Mr. Rash holds a BS in Business Administration from the University of Delaware and an MBA from Southern Illinois University.

Moller joined GWT as Director of Finance and Accounting. He brings 10 years of finance and accounting experience to GWT, with much of that background in early-stage companies in high-growth industries. In addition, he has helped lead two Initial Public Offerings, two high-yield public debt offerings, and numerous private equity placements. Mr. Moller has managed entire accounting and finance organizations in his past, as well as leading the financial due diligence process for multiple mergers and acquisitions, preparing financial business plans, forecasting, and financial analysis. Mr. Moller was previously the Vice President of Finance and Corporate Controller at Relera, Inc. in Denver, Colo. Mr. Moller holds a Bachelor's degree in Accounting and Business Administration from Dakota Wesleyan University, and is a member of the Institute of Management Accountants.

Bernard joined GWT in September 2001 as Senior Vice President and General Manager of our subsidiary, Applied Water Technologies, Inc. Mr. Bernard brings 20-plus years of chemical and equipment water treatment experience to AWT. With a BSChE from New Jersey Institute of Technology, Mr. Bernard has held various sales, marketing and business unit management positions with Nalco Chemical Company, Calgon Corporation and HW Process Technologies, Inc. Mr. Bernard's management of Calgon Corporation's middle-market Chemical Technologies Group business unit offers AWT national exposure to HVAC and light industrial customer applications, while providing the focus and leadership to drive the commercialization of AWT's AquaPhysics(TM) Non-Chemical Cooling Water Treatment Program.

Global Water Technologies

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