RICHARD A. MC CORMACK

Mr. McCormack has extensive experience in project management, engineering, manufacturing, project development, marketing, sales, operation and maintenance of power generation systems and equipment. He has worked extensively with Investor Owned Electric Utility Companies (IOU) and Independent Power Production Companies (IPP). He began his career with Combustion Engineering, Inc. (CE) as a design engineer, and from 1959 to 1964 served in various engineering, project and sales management positions, becoming New York District Manager in 1965. While District Manager, Mr. McCormack was responsible for the marketing of light water nuclear reactor systems and fossil steam generators, and oversaw the construction and start-up phases of major power plant projects, including the Ravenswood 30 Unit of Consolidated Edison Company.

In 1967 he was named Vice President – Nuclear and Fossil Power System Sales for CE where he directed contract negotiations in excess of 6 billion dollars. In 1972 he was named Vice President of the Fossil Power Division, which designed, manufactured and installed power generation equipment burning coal, oil, natural gas, biomass and waste fuels. In addition he oversaw the Research & Development and commercialization of the Company’s environmental-control product line. He was responsible for profit and loss of an organization consisting of approximately 8,000 people engaged in work whose revenues totaled several billion dollars yearly. He instituted the first comprehensive Project Management System (PMS) for control of costs, schedule, environmental compliance, safety and quality in the company’s history and was one of four senior officers responsible for directing the company’s ongoing business and future planning effort.

In 1974 he became President of General Atomic Power Systems Company (GA) where he was in charge of the High Temperature Gas Reactor, Gas Cooled Fast Breeder Reactor, Fusion Reactor Design and Testing, Renewable Energy and Energy Conservation programs. He had P&L responsibility encompassing the engineering, cost development, marketing, manufacturing, quality assurance, planning, finance, construction and operating functions associated with those programs.

When the owners of GA, (The Royal Dutch Shell Corporation and The Gulf Oil Corporation), withdrew from the nuclear generation business, Mr. McCormack founded RAMCO, Inc. as a power industry engineering and management-consulting firm located in San Diego, California. Its initial contracts were with the U. S. Energy Research and Development Agency and The Department of Energy to evaluate the feasibility of commercializing the Nuclear High Temperature Gas Reactor.

Since its inception RAMCO has retained its identity as a small, highly skilled consulting organization made up of contract engineering and management specialists in the utility and industrial power generation field. In the United States the company has been engaged in performing a wide range of work for utilities, independent power producers, Architect-Engineer-Constructors, municipal power organizations, state agencies, various Government Departments and Agencies, research organizations, legal firms and nuclear operating companies.

In 1980 Mr. McCormack founded, and is currently President of the public company Thermal Energy Storage, Inc. (TESI) which is engaged in the business of shifting peak electrical loads to off peak periods by using its patented clathrate storage technology. Currently the company is developing a freeze desalination system under a recently completed contract with the Department of Interior, Bureau of Reclamation, using similar clathrate technology, and a process patented by Mr. McCormack, who has three other patents in related fields.

Consulting with U. S. Generating Company and Pacific Gas & Electric Corporation’s National Energy Group, RAMCO successfully developed and financed two Peaking Power Plants totaling 84 MW in Chula Vista and Escondido, California which are in successful commercial operation.

In 2002, RAMCO, Inc. was sold to Pacific Gas & Electric Corporation and a follow-on organization, RAMCO Consulting Company, was incorporated in the State of Delaware.

Mr. McCormack received his Mechanical Engineering degree from Stevens Institute of Technology and completed MBA credits at the Baruch School of Business, City College of New York. He is the recipient of outstanding leadership awards from the American Society of Mechanical Engineers and the United States Navy in which he served for three years in the Engineering Department as Main Propulsion Officer aboard the USS John S. McCain DL-3.