Jim Stewart has over 30 years of experience in the energy industry, from engineer to Chairman and CEO, and has a proven record of success in operations, sales and marketing, engineering and construction, finance, and administration. Mr. Stewart is a turnaround expert, experienced in buying and selling assets, starting new operations, and closing unprofitable ventures, and he is a trendsetter who has overseen technological breakthroughs and initiated first-of-a-kind financing for projects.

Mr. Stewart is currently serving as Chief Executive Officer under contract to Mobile Energy Services Company (MESC), where he has turned a bankrupt company with negative cash flow and less than $8 million in cash reserves into a company with $90 million in cash and a positive cash flow. Mr. Stewart’s Turnaround Management assignment will continue through the successful completion of a plan of reorganization and the ultimate sale of the new MESC.

Mr. Stewart had similar success when he was named Chairman and CEO of Consolidated Hydro, Inc., an independent power company facing imminent default on $500 million in outstanding long-term debt. He successfully reorganized the company through a prepackaged Chapter 11 filing, and the successful successor company, CHI Energy, Inc., was ultimately sold to the Italian utility ENEL, delivering substantial value to the original creditors.

In his 10 years with CRSS, Inc. and associated companies, Mr. Stewart had a stellar record of leadership and achievement. At CRSS Sirrine, Inc., Mr. Stewart created the Power Division of CRSS and served as its first General Manager, later becoming Senior Vice President. The Power Division grew into a large and profitable engineering and construction company, designing and/or constructing industrial power, waste-to-energy, and electric utility projects with total capital costs of $1.2 billion. In 1988, Mr. Stewart was appointed President and CEO of CRSS Capital, a leading developer, owner and operator of independent power and industrial energy facilities. At the time of this appointment, CRSS Capital was a start-up company with no revenue and no balance sheet. In less than 7 years, Mr. Stewart built the company into an IPP which managed interests in energy projects with assets in excess of $823 million. In 1994, Mr. Stewart was elected President of CRSS, Inc. (NYSE: CRX). During his tenure as President, CRSS was completely transformed from an engineering and construction company to an impressively dynamic and growing independent power company. After Mr. Stewart’s success in building the company into a leading IPP, he was instrumental in negotiating the sale of the company to a Belgian utility, TRACTEBEL, for a 50% premium above market.

Earlier in his career with United Engineers & Constructors, Mr. Stewart was Manager, Projects - Utility Power and Industrial Cogeneration. While at Gilbert Associates he served as Manager, Process Engineering Department where he led the technology development of fluid bed boilers, coal gasification, fuel cells and advanced turbines. With Westinghouse Corporation he was a Sr. Project Engineer for Coal Gasification and the Gas Turbine Combined Cycle Program. At Bituminous Coal Research Inc. he was a Project Engineer for Clean Coal Technology, Research and Development.

Mr. Stewart holds a Bachelor of Science in Chemical Engineering from The Pennsylvania State University, a Master of Science in Chemical Engineering from the University of Pittsburgh, and a Master of Business Administration in Finance from the University of St. Thomas. He is a member of the Turnaround Management Association, and is a licensed Professional Engineer.

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