ALPHA-EN CORPORATION (OTCMKTS:ALPE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Resignation of Chief Executive Officer
On November 13, 2019 the Board of Directors (the “Board”) of alpha-En Corporation (the “Company”) accepted the resignation of Sam Pitroda, as the Company’s current Chief Executive Officer. Mr. Pitroda will continue to serve as the Company’s Chairman of the Board.
Appointment of New Director – Kip Testwuide
On November 13, 2019, Kip Testwuide was appointed to the Board of Directors of the Company to serve as a director of the Company.
There is no understanding or arrangement between Mr. Testwuide and any other person to which he was appointed as director. Mr. Testwuide does not have any family relationship with any director, executive officer or person nominated or chosen by the Company’s board to become a director or an executive officer. Mr. Testwuide has not had direct or indirect material interest in any transaction or proposed transaction, in which the Company was or is a proposed participant, exceeding $120,000.
Mr. Testwuide spent most of his career as a banker with BNP-Paribas and later became an investor in technology startups and other early stage companies. The Board believes that Mr. Testwuide will provide valuable strategic and operational guidance to the Company.
About ALPHA-EN CORPORATION (OTCMKTS:ALPE)
alpha-En Corporation is a development-stage company. The Company is engaged in developing a business centered in the commercial manufacturing of pure lithium metal. It focuses on including lithium products and processes derived from the Company’s technology, which include battery components, such as protected anodes and compounds of lithium, among others. It has also created a carbon neutral technology. The Company is focused on enabling battery technologies by developing and bringing to market materials produced in an environmentally sustainable manner. It has also developed a process for the production of Lithium Metal at room temperature using clean technology, which can be met without harming the environment. Its process even allows for the deposition and intercalation of lithium into custom substrates, which streamlines the manufacturing of very small batteries. The Company’s subsidiary is Clean Lithium Corporation. As of December 31, 2015, the Company had no revenues.
