American Power Group Corporation announced the completion of the initial round of a $3 million private placement of Subordinated Contingent Convertible Promissory Notes with several existing shareholders, members of management and investors affiliated with members of its Board of Directors. Concurrent with the closing of the financing, Neil Braverman became new Chairman of the Board of Directors replacing Maurice Needham who will remain as a Director. Mr. Braverman is a major investor in the company and has been a Director since April 30, 2012. He is the founder of Associated Private Equity and previously founded and was co-Chairman of Safeskin Corporation, the leading manufacturer of latex/synthetic gloves to the healthcare and electronic markets. Matthew Van Steenwyk was appointed by the Board of Directors as Lead Strategic Director with more direct focus on helping to optimize the strategic marketing initiatives for the company. Mr. Van Steenwyk has been a Director since July 21, 2015 and is the lead investor in the Company. Mr. Van Steenwyk has been Managing Director of Longbow Technology Ventures since 2010. He has over twenty-five years of investing and operating experience across multiple industries with a strong focus on energy related industries.