Bartlett Maritime Forms American Naval Shipyard, LLC; Renold D. Thompson, Jr. Named Chief Financial Officer

Bartlett Maritime Corporation is pleased to announce that American Naval Shipyard, LLC has been formed as the operating company for the new facilities proposed in Bartlett Maritime’s unique and innovative public private partnership to provide the required capacity and capability expansion in the Naval Shipyard industrial enterprise.

Renold D. Thompson, Jr. a member of the Bartlett Maritime Corporation Senior Advisory Board, has been named as Chief Financial Officer of American Naval Shipyard.

Forming American Naval Shipyard, LLC, provides a company whose sole dedication is to execute the proposed innovative and unique public private partnership to provide these essential new facilities. While some of the operating leadership of American Naval Shipyard will be provided by Bartlett Maritime personnel, the position of Chief Financial Officer in this new company is unique and requires someone who is solely dedicated to the company’s specific mission. Renold D. Thompson, Jr., a member of the Bartlett Maritime Corporation Senior Advisory Board, has the long experience in the capital markets which is required for this position, and has been named Chief Financial Officer for American Naval Shipyard.

Renold “Rod” Thompson has more than 3 decades of experience in the capital markets and more than a decade of experience as an entrepreneur in the aerospace and defense market. His capital markets experience includes being based in national/regional capital markets hubs in New York, Los Angeles, San Francisco, and Cleveland. American Naval Shipyard will be focused on providing the proposed two new multi-billion-dollar facilities for the Naval Shipyard industrial enterprise to provide the necessary additional capacity and capability through an innovative and unique public-private-partnership. His experience as an entrepreneur will enable him to understand the needs and requirements of both the customer and the business while his experience in the capital markets will guide the detailed development of the public-private-partnership and its execution in the capital markets.

CAPT Edward L. Bartlett, Jr., Founder, commenting on this important step, noted, “Forming American Naval Shipyard provides us with a focused operating company for this essential project. Rod Thompson’s capital markets expertise will ensure that our capital plan will be appropriately developed and implemented to support our overall plan objectives. We are pleased that Rod has accepted this key expanded role on our team as we prepare to execute our plan in support of the US Navy.”