IRVINE, Calif., June 28, 2006 (PRIMEZONE) -- HiEnergy Technologies, Inc. (OTCBB:HIET), the homeland security industry leader in neutron-based diagnostic technology, announced today that Freddie Bay, senior technology executive and veteran business consultant, will serve as a member of its Business Advisory Board to assist management with business development and sales strategy in the Asia-Pacific Homeland Security markets.
Mr. Bay has over 19 years of senior management and operating experience with leading multi-national corporations and consultancies, including AT&T Global Information Systems, Andersen Consulting (now called Accenture), Singapore Technology Computer Systems Limited, and Germany's Software AG. He currently serves as President and Chief Executive Officer of CETC-China Networks Security Company Limited, a subsidiary of the China Electronics Technology Group of Companies (CETC).
"We are excited that Freddie Bay has chosen to join our Business Advisory Board, bringing to the table vast operational and sales management experience, as well as an appreciation and awareness of the legal and cultural differences within the Asia-Pacific markets," stated Roger Spillmann, HiEnergy's President and CEO. "Mr. Bay will not only enhance our ability in the region, but also assist management in executing its global strategy of building effective sales, distribution and aftermarket platforms in key overseas markets, without compromising our domestic initiatives, through partnerships and licensing which serve to reduce the capital requirements for overseas expansion."
"I am pleased to be able to assist HiEnergy with the implementation of its global sales strategy as well as building the necessary infrastructure to market and sell, including the marketing, sale and support of its groundbreaking Atometer(tm) explosive detection devices in the Asia-Pacific Region," said Freddie Bay. "Given the excellence of its product offerings and its experienced management and scientific teams, HiEnergy is positioned to attract the best of class partners to expand its markets overseas. I look forward to contributing to their success as a member of their Business Advisory Board."
HiEnergy Technologies' Business Advisory Board was created to bring together a team of experts from within the homeland security and defense industry, and other global business and legal leaders, to help executive management through the exchange of ideas related to business opportunities, current industry challenges and best practices, to create more efficient and effective business development strategies and systems and enhance shareholder value.
About Freddie Bay
Through his distinguished career, Mr. Bay has over 19 years' experience as a senior executive in corporate development, sales and operations for both traditional and startup companies. While a consultant, he specialized in the turnaround and reorganization of companies and has provided guidance in bringing foreign companies into China, Singapore and other Asian countries and executing direct and channel sales strategies.
Mr. Freddie Bay currently serves as President and CEO of CETC-China Networks Security Company Limited (CETC-CNS), a subsidiary of the China Electronics Technology Group of Companies.
Prior to assuming his role at CETC-CNS, Freddie Bay has served as Executive Vice-President of Singapore Technology Computer Systems Limited (STCS), a subsidiary company of the Singapore Technologies Group, a government linked company. In his role with STCS, Mr. Bay reported directly to the President and CEO and handled special projects within the Singapore Government. He was also responsible for world-wide Professional Services Sales, Managed Information Outsourcing & Disaster Recovery Services, M&A, Asia Pacific Solution Sales, Customer Support and Investor Relations. Mr. Bay further served on the board of directors with various subsidiary companies within STCS. During his tenure, Mr. Bay exceeded his sales target and significantly increased shareholder value.
Before joining STCS, Mr. Bay served as Regional Managing Partner of AT&T GIS and Regional Managing Director of Software AG, one of Europe's largest software companies, in charge of 13 countries in the Asia-Pacific region. He also served as the Administrator, Chairman and Chief Information Officer of Gleneagles Hospital Group, the largest healthcare provider in South East Asia. Prior to that, Mr. Bay served as Consulting Manager with Andersen Consulting (now known as Accenture) both in Singapore and Japan offices.
Mr. Freddie Bay received his Masters degree in Business and Computing Science degree from City University London, United Kingdom and currently resides in Singapore.
About HiEnergy Technologies, Inc. (www.hienergyinc.com)
HiEnergy Technologies, Inc. is the creator of the world's first "stoichiometric" diagnostic devices that can effectively decipher chemical composition of unknown substances through metal or other barriers, almost instantly and without human intervention. HiEnergy's Atometer(tm) devices incorporate a proprietary interrogation process which activates a selected target with neutrons causing the contents to emit back gamma rays that contain unique signatures from which the chemical formulas are derived. HiEnergy believes its Atometry(tm) technology compares with other detection technologies like color photography compares with black-and-white photography.
HiEnergy is focused on the commercialization and sale of its portable, suitcase-borne SIEGMA(tm) 3E3; the CarBomb Finder(tm) 3C4, a vehicle-borne system, for the detection and identification of car bombs; and the STARRAY(tm), its robot-borne detector of IEDs, landmines and unexploded ordnance. The Company is marketing its devices to governmental and private entities and is negotiating licenses for distribution of its devices with various industry partners. The Company also continues to focus on the research and development of additional applications of its technologies and their further exploitation, both internally and through collaboration with third parties.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements.