Steven R. Springsteel Joins Liquid Robotics as Chief Operating Officer and Chief Financial Officer

Liquid Robotics(R), an ocean data services provider and developer of the first wave-powered Wave Glider(R) marine robot, today announced that Steven R. Springsteel, former CEO of Chordiant Software Inc. and President/CFO of Verity, has joined the company as Chief Operating Officer (COO) and Chief Financial Officer (CFO).

SUNNYVALE, CA and KAMUELA, HI--(Marketwire - Feb 13, 2012) - Liquid Robotics®, an ocean data services provider and developer of the first wave-powered Wave Glider® marine robot, today announced that Steven R. Springsteel, former CEO of Chordiant Software Inc. and President/CFO of Verity, has joined the company as Chief Operating Officer (COO) and Chief Financial Officer (CFO). Reporting directly to Bill Vass, CEO and President of Liquid Robotics, Mr. Springsteel will be responsible for all business operations and financial matters. Furthermore, he is tasked with scaling the company, growing the data services business and expanding Liquid Robotics' strategic industry partnerships in the oil & gas, defense, and science markets worldwide. The addition of Mr. Springsteel comes at a time when the company is experiencing rapid growth in its customer base, adding strategic new hires and expanding company operations. His position is effective immediately.


"I'm very pleased to have Steve join our executive team," said Bill Vass, CEO and President. "As a highly accomplished software executive, his demonstrated success in recruiting and building strong organizations as well as his extensive experience with IPOs and merger & acquisitions is extremely valuable as we position the Company for long term growth and profitability."

Mr. Springsteel brings more than 25 years of experience in operational and financial management to this position. He has successfully brought to market innovative software, systems and services. His accomplishments include the management of two successful IPO's and multiple mergers and acquisitions. Mr. Springsteel has extensive experience in growing sales, raising equity and debt funding in the public and private marketplaces, as well as formulating and implementing complex business strategies. He previously held senior financial executive positions at Apple Computer, The Santa Cruz Operation (SCO) and Altos Computers. Mr. Springsteel sits on the board of privately held Zend Technologies (Audit Committee Chair), serves on the Board of Trustees of the California State Parks Foundation (member of Finance Committee) and was an Entrepreneur-in-Residence at US Venture Partners (USVP).

"As the co-founder of Liquid Robotics, I firmly believe our technology will revolutionize the way the world collects ocean data," said Joe Rizzi, Chairman of the Board, Liquid Robotics. "Our vision of opening up the oceans for new explorations and new discoveries is a challenging opportunity. Adding such an accomplished, industry talent as Steve to the Liquid Robotics' executive team fortifies our ability to execute and deliver increased value to our shareholders, customers, and partners."

About the Wave Glider
The Wave Glider is the first marine robot to use only the ocean's endless supply of wave energy for propulsion (no manpower, no emissions, no refueling). The Wave Glider employs a multi-patented design that allows it to cost-effectively collect and transmit data gathered during yearlong missions, over distances of thousands of miles, or while holding station. Data gathered by Wave Gliders will help us address the biggest challenges our marine environments face -- including ocean acidification, fisheries management, and natural disaster mitigation.

About Liquid Robotics
Liquid Robotics, Inc. is an ocean data services provider and developer of the Wave Glider® marine robot that functions as a persistent and versatile platform for scientific and industrial payloads. Based in Silicon Valley and Hawaii, the company's Wave Glider® is enabling dozens of applications and missions never before attainable. Liquid Robotics is backed by VantagePoint Capital Partners. For more information, visit www.liquidr.com.
Liquid Robotics and Wave Glider are registered trademarks of Liquid Robotics, Inc., in the United States and other countries.

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