DALLAS, May 7, 2015 (GLOBE NEWSWIRE) -- Principal Solar, Inc. ("PSI") (Pink Sheets:PSWW) a publicly traded solar power company building utility-scale projects, announces the election, effective April 14, 2015, of Scott Olson, J.D., managing member of Dallas-based investment firm Turtle Creek Holdings, LLC (TCH), to the PSI Board of Directors. With 17+ years of diverse legal and business experience, Olson brings a blend of expertise in financial transactions, including securitization, project finance, M&A finance, insurance finance, commercial paper lending and general bank lending.
"We are pleased to welcome Scott to our Board of Directors and value his background in large-scale project development, law and international business," says Michael Gorton, chairman and CEO of PSI. "His insights into renewable energy and solar, as well as deep understanding of capital markets and opportunities for solar project development, will serve Principal Solar as we continue to build utility-scale solar generation capabilities. His financial acumen adds further strength and diversity to our Board."
From 2006 to 2010, Olson served as managing director of the asset-based hedge fund PBL Capital, which managed over one billion dollars in investments. Since 2010, he has taken on the role of advisor and/or investor in a variety of business opportunities including food manufacturing, environmentally safe chemicals manufacturing and sales, as well as insurance and renewable energy. He also serves as a director in each private business.
Olson began his career at Andrews Kurth, LLP in 1998. From 2002 to 2003, he served as managing partner with the firm Larson King, LLP. Olson then founded the Dallas office of Greenberg Traurig, LLP, an international law firm, and assumed the role of managing shareholder of the Greenberg Traurig Dallas Office until 2006. He also served as global co-head of Greenberg's Structured Finance & Derivatives Group, representing banks, borrowers, investors, servicing companies and other parties.
Olson earned his bachelor's in Accounting from the University of Alabama (UAB), magna cum laude, where he received the Hugo Black Fellowship Award, and in 2005 was named UAB Outstanding Young Alumni of the Year. He holds a Juris Doctorate from Vanderbilt University Law School, and served on the Vanderbilt Law School Board from 2009 to 2011.
Olson has made an impact in the community as a long-time supporter of numerous charities, including HIS Bridge Builders, an organization that creates and cultivates mentor relationships in inner-city communities. Additionally, he and his wife, Erin, have chaired fund-raising galas for the Child Abuse Prevention Center and the American Heart Association. He is a member of the Board of Directors for the Prestonwood Church Foundation and the Board of Directors for the Master Cares Foundation, a ministry that builds schools, clinics, farms and water wells in Uganda.
Mr. Olson says, "I am honored to be joining the Principal Solar Board of Directors at this exciting time in the Company's growth. We are at the forefront of the renewable energy and solar industries, and our impressive leadership roster represents significant value for all stakeholders."
About Principal Solar, Inc.
Principal Solar, Inc. (PSI) (Pink Sheets:PSWW) is a publicly traded solar power company that is building and operating utility-scale projects. Principal Solar has an entrepreneurial growth strategy: to identify attractive solar projects at an early stage in their development, complete their construction, and bring them on line and selling power via long-term power purchase agreements (PPAs). This strategy maximizes value for stakeholders, mitigates development risk and helps provide affordable, zero-emission electricity to utilities and consumers across the country. The Principal Solar Institute, an educational organization created by Principal Solar, Inc., is dedicated to spreading solar knowledge to the critical stakeholders in the solar and broader electricity markets. Visit www.PrincipalSolar.com.
CONTACT: Media CPR for Principal Solar, Inc. Joelle Caputa, 201-641-1911 x 54 JCaputa@cpronline.com or Investor Relations MBS Value Partners Hugh Collins 212-223-4632Source:Principal Solar, Inc.