enXco is proud to announce the changes to its management team that occurred over the last 6 months and wishes to take this opportunity to introduce the new Executive team members.
North Palm Springs, CA—April 1,2005—David Corchia, who joined EDF EN, formally named SIIF Energy and parent company of enXco, from JPMorgan Chase in October, 2004, has been installed as Chief Executive Officer of enXco. He will remain in Paris, where the parent company is located, as his role with EDF EN includes leadership responsibility for the US businesses, as well as mergers and acquisitions for the group.
Mr. Corchia's most recent responsibility with JPMorgan Chase included advising French utilities and oil and gas corporations with a special focus on equity markets, mergers & acquisitions, privatization, project financing and debt capital markets.
Over the last few years, David has been involved in all major EDF EN deals and primary financial advisors.
Tristan Grimbert joined enXco on 21 December 2004 as President and Chief Operating Officer. Mr. Grimbert career has been primarily in sales and international consultancy. His last position prior to joining enXco was seven years as President and CEO of Mensi SA, a wholly-owned subsidiary of EDF, specialized in the development, manufacturing, and sales of 3D scanners and 3D point clouds CAD processing software. In November, 2003, Mensi SA was purchased by Trimble Navigation Limited, a US NASDAQ traded company, world leader in global positioning technology.
Mr. Grimbert is a graduate of Institut National Agronomique Paris Grignon ('90) and has a Management degree from Insead. Mr. Grimbert lives in the San Diego area and leads enXco operations from the Palm Springs office and Escondido, where our new office will be opening shortly.
Jorge E. Colmenares is joining enXco, Inc., as a member of its Senior Management team, in the capacity of Vice President-Project Structuring and Transactions. Mr. Colmenares comes to enXco from Wall Street where he worked at JPMorgan for six years as Vice President in their Structured Finance Division. "He is a very valuable addition to the team and with him, I believe, we are now ready to tackle the tremendous opportunities ahead of us," said Tristan Grimbert, enXco's President & COO.
While at JPMorgan, he was responsible for the development and execution of structured finance products and solutions for corporate clients across industries with a primary focus in energy. As an investment banker, Mr. Colmenares specialized in the structuring and private placement of equity securities for the financing of large capital projects for energy and power companies.
Mr. Colmenares was born in Venezuela where he worked right out of college in the state-owned oil and gas company (PdVSA) in the design and construction of oil and gas processing facilities. After two years of field experience, he came to the United States to pursue graduate studies. He holds a Masters of Business Administration ('96) and a Masters of Science in Mechanical Engineering ('92), both from the Massachusetts Institute of Technology (MIT). He is also a Licensed Professional Engineer in the State of California.
The rest of enXco executive team remains unchanged. Jim Walker continues as Vice Chairman of the Board of Directors; Joe Fahrendorf, Vice President Development; Kelly Lloyd, Chief Financial Officer, Larry Barr, Vice President Operations and Maintenance, Lisa Carp, Director of Human Resources.