Koil Energy Solutions, Inc. announced the resignation of its President, Mr. Charles Njuguna due to a family health matter. Mr. Njuguna has also resigned as a member of the Company?s Board of Directors. Mr. Njuguna will stay on through March 31, 2024 and oversee the 2023 fiscal year-end audit and financial reporting.

In connection with Mr. Njuguna?s resignation, Koil Energy?s Board of Directors appointed Mr. Erik Wiik as a member of the Company?s Board effective March 8, 2024. Mr. Wiik has been working with the Company as a consultant since September 2023. Mr. Wiik has more than three decades of experience in the energy industry, including extensive knowledge of subsea technology gained during his 24-year tenure with Aker Solutions.