David W. Fann, Gregory N. Bakemann promoted at Solar Energy Initiatives

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Solar Energy Initiatives, Inc., which markets solar thermal and photovoltaic technologies, have appointed David W. Fann as CEO and Gregory N. Bakemann as President, who will also continue to serve as Chief Financial Officer.

Michael J. Dodak has resigned from his position in the company but will remain on the Board of Directors.

Mr. Fann holds more than 15 years of experience in the public markets. Since June 2006 he has been a director on the board of Solar Energy Initiatives. Previously, he served as President and a Director of Funds3000 and CEO and Director of the Global Axcess Corp. From September 1998 until September 2000, Mr. Fann was CEO and Chairman of the Board of TeraGlobal, Inc.

Mr. Bakeman was Chief Financial Officer at one of the largest US renewable energy attributes companies as well as at McKenzie Bay International, Ltd., where he oversaw the development of two renewable energy systems through prototype testing/ Mr. Bakeman graduated from Michigan State University and obtained his MBA with high honors from the Seidman College of Business – Grand Valley State University.

“Based on their extensive industry experienced, David and Greg are ideal choices to serve as the leaders of Solar Energy,” commented Chairman of the Board Bradley C. Holt. “They possess the perfect combination of industry knowledge and capital market experience that is needed to create significant value for our shareholders.”

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