General Enterprise Ventures appoints Wes Bolsen as new CEO

OCEANSIDE, Calif. - General Enterprise Ventures, Inc. (OTC:GEVI), a $65 million market cap company experiencing significant revenue growth of over 70% in the last twelve months, announced Wednesday the appointment of Wes Bolsen as Chief Executive Officer, replacing Ted Ralston who will transition to Chairman of the Board.

Bolsen brings over 20 years of experience in the wildfire protection industry. He previously co-founded and served as CEO of LaderaTech, which he led to acquisition by Perimeter Solutions, where he subsequently joined the leadership team during its $2 billion public listing. According to InvestingPro data, GEVI faces current profitability challenges with negative EBITDA, though it maintains more cash than debt on its balance sheet.

The new CEO holds a Bachelor of Science in Electrical Engineering with an Economics minor from Rose-Hulman Institute of Technology and an MBA from Stanford University.

Ralston will remain involved during the transition period to support strategic partnership development in the wood products and insurance sectors, according to the company’s press release.

"Wes brings a rare combination of entrepreneurial vision, proven leadership and deep knowledge of the wildfire industry," said Ralston in the announcement.

Bolsen stated he chose to lead the company after evaluating CitroTech, the company’s fire inhibitor product line, which he believes "has the potential to transform how we prevent fires, protect homes and assets."

General Enterprise Ventures, through its subsidiary Mighty Fire Breaker, LLC, provides wildfire defense solutions. The company’s CitroTech fire inhibitor is designated as EPA Safer Choice and has UL GREENGUARD GOLD certification. With a beta of 6.43, the stock shows significantly higher volatility than the market average. InvestingPro analysis reveals 8 additional key insights about GEVI’s market position and growth potential, available to subscribers.

Steve Conboy, founder and chief technology officer of MFB, noted that Bolsen’s "decades of executive leadership and deep industry knowledge" would be valuable as the company works toward uplisting to a national stock exchange. The company’s current financial health score suggests challenges ahead, with short-term obligations exceeding liquid assets, as indicated by a current ratio of 0.65.

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