Our Team

SPG's team, advisors, and associates have been at the forefront of the energy technology, operations management, strategy consulting, information technology, and merger technology industries. We have not only a comprehensive skill set in managing marketing, business development, and strategic guidance activities for both established companies and promising technology developers, but also strong linkages with the energy industry and regulatory oversight bodies in the United States and globally.

Relevant Experience

SPG team members have implemented numerous projects both within the energy technology space and in other cutting-edge industries, including the following:

  • Review and development of architectural specification capabilities, including building energy systems standards, for the American Institute of Architects;
  • Design and implementation of computer security vulnerability analysis and disaster recovery plans for several Fortune 500 corporations;
  • Technology upgrades, including the design and installation of full backup power capability, for a communications center supporting high risk criminal justice applications;
  • Vulnerability analysis on systems to support RF towers in the State of Florida;
  • Installation or upgrade of all financial and transaction systems and implementation of productivity improvements that reduced financial processing costs by over 70% for a $600 million company;
  • Strategic guidance for Fortune 500 product manufacturers and gas and electric utilities on the acquisition and implementation of high-efficiency electric motors, natural gas vehicles, heat pumps, natural gas instrumentation, electronic drives for electric motors, appliance services, and high-efficiency lighting products.
  • Design of a platform for energy services companies, solutions providers, and their customers to monitor energy use, remotely control on-site generation and curtailable loads, and receive vital pricing information using any leading software applications, with high levels of reliability and security.
  • Management of a company that is the leading provider of network communications and real-time control technology for the electric power industry.
  • Project finance and regulatory compliance advice and assistance on the largest transnational (US-Canada) power transmission system.


David Dell, PhD.: David Dell is the President and Chief Executive Officer of the Company. Dr. Dell has a unique background combining research, management consulting, executive leadership, and investment banking. Dr. Dell has been Research Director for The Conference Board, where he authored or co-authored research reports on technology and business trends affecting major corporations and appeared as a featured speaker at numerous management conferences. He has advised Fortune 500 corporations on issues in technology strategy and outsourcing. He has helped lead turnarounds of technology companies and acted as Chief Technology Officer as well as Chief Talent Officer and has been an officer and director of two NASD National listed companies. He has ten years experience as an investment banker focusing on small-cap IPO's, acquisitions, divestitures and joint ventures of emerging technology companies.

Marc D. Gitlitz: Marc D. Gitlitz is Vice President of the company. He has 34 years of strategic, operational, and financial planning experience. As a management consultant he has helped corporations and government offices identify, assess and pursue new business opportunities. He has also participated in new business ventures and been an investment banker. 

Mr. Gitlitz started his management consulting career with The Diebold Group, Inc. (now part of Daimler Benz Information Systems), and eventually headed the firm’s Business Planning Division. He later headed the United States practice of Butler Cox & Partners, Ltd. (now part of Computer Sciences Corporation), a British consultant specializing in the strategy-driven application of information technology.  At both firms he led global consulting organizations that helped senior management develop business strategies and assess new business opportunities.  He was also he co-managed a consulting practice focused at helping Eastern European nations attract direct investment from United States and European corporations and financial institutions.

Mr. Gitlitz has participated in two start-up ventures:  Connecticut Corridor Cellular Telephone, Inc. and Advocast Inc., a manager of Internet-based business communities.  He headed both ventures’ planning and business development functions. Most recently, Mr. Gitlitz was a Managing Director of Connecticut Capital Markets, LLC, an investment banker serving small technology-driven enterprises.

Mr. Gitlitz holds a BS in economics from Northwestern University and an MBA in finance from New York University.

Mayur Subbarao, Esq.: Mayur Subbarao is the Executive Vice-President of the Company. Most recently, Mr. Subbarao was the Managing Partner of the New Energy Fund, a small-scale venture fund that has successfully placed investment capital into start-up companies and research groups in the alternative energy technology sector. Prior to joining the Fund, Mr. Subbarao was an Associate with the International Environmental Practice Group and Energy Group of the New York law firm of Beveridge & Diamond, P.C., advising clients on matters involving the implementation of legislation, regulations, and international agreements relating to environmental management and energy financing. Mr. Subbarao has worked extensively on issues of international environmental law, economics, and policy, including the architecture of the United Nations Global Environment Fund, the related Venture Capital Fund for Sustainable Development, and the forthcoming UNCTAD guidelines on greenhouse gas trading.

Mr. Subbarao holds a BSc. in Economics from the London School of Economics and a J.D. from the New York University School of Law. He is a member of the New York State and New Jersey State Bar Associations.

Yuliya Tsaplina: Yuliya Tsaplina is Secretary and Regional Director (Eastern Europe) of the Company. Ms. Tsaplina is a founder of David Dell LLC, a research and consulting firm, where she oversees financial analysis and project management and coordinates research. Prior to joining David Dell LLC, Ms. Tsaplina worked as a senior research associate at Moody's Investors Services in the Derivatives and Funds Group, building and evaluating financial models for credit-linked notes and other complex financial instruments. She then joined The Conference Board, where she was actively involved in research studies on HR Technology, Leadership Development, and workforce issues.

An accomplished linguist, Ms. Tsaplina is also a certified interpreter of English, Russian, and French. She is an honors graduate in Economics from NYU and holds a Doctorate from the Sorbonne in France.


SPG's advisors provide networks and assistance in obtaining strategic partners and funding for SPG portfolio technologies, and directly participate in SPG's technology selection and investment and commercialization processes. Our advisors combine decades of experience in high-level government, utilities management, energy venture finance and fund management, and energy technology implementation.

Francis X. Cameron is a Founding Director of the New Energy Fund, L.P. Mr. Cameron has over twenty-five years of experience as a negotiator and attorney for the United States Nuclear Regulatory Commission. Mr. Cameron has supervised numerous Department of Energy and NRC policy dialogues on the environmental and safety implications of consolidation in the electric power generation industry, including recent dialogues with NRC and the U.S. Canada Power Outage System Task Force Workshop on policy changes in the wake of the electric power blackout of August 14, 2003.

Gordon Canning: Gordon Canning is Vice-President of Strategy and New Business Development at Easton Consultants, Inc., a leading East Coast consulting firm specializing in providing strategy advice to energy utilities. Mr. Canning specializes in assisting clients to develop and implement competitive market positioning strategies. For many years, Mr. Canning was a Senior Vice President of Hayes/Hill, Inc., the predecessor firm to Easton, and for eight years prior to joining Easton, he was a Vice President with Cresap, a general management consulting firm. He has an undergraduate degree from Williams College and a Master's degree in Mechanical Engineering from Northwestern University. He is a frequent contributor of articles on marketing and strategy subjects.

Robert Dell: Robert Dell is a member of the Faculty and Research Fellow at Cooper Union in New York City, supervising student research into fuel cells, Stirling engines and thermoelectric generating systems. Professor Dell's background lies in experimental engineering and technology development, including over 15 years' experience developing thermoelectric power generating systems utilizing low-temperature heat sources (waste heat). In 1988, he worked under a Fulbright Senior Research Fellowship with Iceland's Reykjavik Municipal District Heating Service to develop thermoelectric generation systems powered by geothermal hot springs. In 1991, this work was featured at the MIT Museum, and resulted in his appointment as Research Fellow at MIT from 1993-97.

John J. DeMaria: John DeMaria is a Principal at Chamberlain Consulting, a major biotechnical and pharmaceutical consulting firm. Prior to joining Chamberlain, Mr. DeMaria was the CEO of Environments.com, a consulting firm that worked to develop information systems and customer choice programs for several large electric utilities.

David P. Hochman: David Hochman is the former Chief Executive Officer of Spencer Trask, a leading New York City private equity firm specializing in technology ventures. At Spencer Trask, Mr. Hochman oversaw a large part of the firm's portfolio in biotechnology and environmental technology start-up companies, and has been responsible for generating several hundred million dollars in new investment on Spencer Trask's behalf.

Madanda G. Machayya, PhD: Madanda Machayya is the Chief Investment Officer and a Founding Partner at Starview Capital Management, a "hedge fund of funds" that guides investments on behalf of high net worth individuals, family offices, and institutional investors. Prior to joining Starview, Dr. Machayya was Vice President and Director of Research at Merrill Lynch Investment Partners. He holds a Ph.D. in International Finance from New York University.

Senior Consulting Associates

SPG's senior consulting associates provide a network of hands-on capabilities ready to help us review, launch, and manage projects and companies. Leveraging their experience and expertise in specific technologies, markets, and critical areas of management gives SPG a running start on providing strategic advice and technology opportunity selection.

David L. Fletcher, PhD., P.E.: Dr. Fletcher is the President and Principal Consulting Engineer of Fletcher Consultants, Inc. He previously worked as a leading trainer and consultant for PECO Energy, specializing in Power System Simulation and system crises, and for Leeds Northrup as a consulting engineer overseeing advanced hydroelectric applications and energy controls systems. Dr. Fletcher is a Senior Member of the Institute of Electrical and Electronics Engineers (IEEE).

Charles D. Seligson, PhD.: Dr. Seligson is the founder and CEO of Xyting Corporation, which since 1993 has supported businesses to introduce new patented technology products to global markets through a network of distributors in close to 50 countries. Previously, he headed operations, marketing, and product development for several multimillion-dollar corporate divisions selling microprocessor-based energy management and security systems to the commercial and government sectors. Dr. Seligson received his Ph.D. in Electrical Engineering from Cornell University and worked for seven years at AT&T Bell Laboratories doing research in signal processing and computer science.

Devin T. Stewart: Mr. Stewart is Director of the Global Policy Innovations program at the Carnegie Council for Ethics in International Affairs. In this capacity, he edits Policy Innovations and Carnegie Ethics Online. Previously, he was Assistant Director of Studies and Japan Studies Fellow at the Center for Strategic and International Studies (CSIS) in Washington, D.C. He remains affiliated with CSIS as an Adjunct Fellow.

From 2000 to 2003, Devin was a researcher at the Research Institute of Economy, Trade, and Industry and in 2004 a staff writer for The Daily Yomiuri in Tokyo. He also chaired the Korea-Japan Study Group in Tokyo and in Washington. He was also a researcher at the Japan External Trade Organization New York and has served on the staffs of the U.S. Senate Committee on Foreign Relations and Senator Barbara Mikulski.

Devin's articles have appeared in four languages in numerous publications, including SAIS Review, The Asian Wall Street Journal, the International Herald Tribune, Japan Inc., the Asahi Shimbun, Prospect Magazine, and The National Interest.

He holds a B.A., cum laude, from the University of Delaware and an M.A. from the Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University in Washington, D.C., and Bologna, Italy.