NEWARK, DE -- Fuel developer O2Diesel Corporation has announced that David Shipman will joint the company as its CFO on a full-time basis.

Shipman, a CPA, has a M.B.A., finance from the Wharton School, a B.A., English from Trinity College and a M.S. in Communications and Psychology from Boston University.

He comes to O2Diesel from his position as vice president/COO at Kurz-Hastings, Inc. Kurz-Hastings was a member of the Kurz Group, a manufacturer of decorative and functional finishes for a variety of consumer markets. Prior to his position as COO, he served as the company's CFO and controller for 18 years. Before his service with Kurz, he spent four years as a management consultant at Deloitte Haskins & Sells and three years as an officer in the United States Air Force.

In addition to his financial background, he brings more than 25 years experience in building and growing small businesses into significant larger scale operations. He has served a leading role in developing and implementing quality systems, EPA regulatory compliance programs, productivity enhancements, strategic planning and new product development.

"This is a key appointment," said Alan Rae O2Diesel's CEO, "and I am very pleased to welcome Dave to the team. In addition to his considerable financial skills, Dave has substantial management experience gained with growth companies; I believe this experience will be of substantial benefit as the company grows. Dave's appointment together with the appointment of Rick Roger as president and COO in July ensures that we now have a strong management team able to drive the company toward achieving its strategic objectives."

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