Gevo Announces Strategic Hires for Its Executive Team
ENGLEWOOD, Colo., Jun 27, 2011 (BUSINESS WIRE) -- Gevo, Inc. (NASDAQ: GEVO), a leading renewable chemicals and advanced biofuels company, today announced that it has expanded its executive team with two key strategic hires. The company has brought on board cellulosic expert Robert Wooley, Ph.D., as Vice President of Process Development and Brant DeMuth, CFA, MBA, as Executive Vice President of Strategy and Corporate Development.
"Now that our first two ethanol plant retrofits are in development and we continue to make progress on our proprietary cellulosic isobutanol producing yeast, it is time to increase our focus on cellulosic biomass feedstocks," said Patrick Gruber, Ph.D., CEO of Gevo. "With a 20-year track record in cellulosics, Bob has the expertise to lead this effort."
A former portfolio manager in the energy and industrial sector, Mr. DeMuth will draw on 20 years of knowledge and experience to sort out the many opportunities in front of Gevo.
"We have many opportunities to enhance the value of our core business through improvements to net carbohydrate cost and to expand our business in geographies outside the U.S. and across the hydrocarbon value chain," continued Dr. Gruber. "Brant will be a tremendous asset in our effort to build the world's leading biorefinery business. I and the rest of the management team look forward to working with Brant and Bob to achieve our goal of replacing the whole barrel of oil."
In his new role at Gevo, Robert Wooley, Ph.D., will report to David Glassner, Ph.D., Executive Vice President of Technology, and will be responsible for implementing engineering solutions for Gevo's cellulosic isobutanol technology. Dr. Wooley was previously director of engineering for Abengoa Bioenergy's New Technology group where he was responsible for cellulose conversion and other advanced technology projects. Before that, he was the biomass technology leader at NatureWorks LLC, and technology manager for the biofuels program at the U.S. Department of Energy's National Renewable Energy Laboratory (NREL).
As head of strategy Mr. DeMuth will report to Patrick Gruber, Ph.D., CEO, and will be responsible for developing Gevo's long term strategic initiatives. Previously he was a portfolio manager at Mazama Capital Management Inc. focused on the energy, alternative energy and industrial sectors. Before that Mr. DeMuth was Senior Vice President and Portfolio Manager for AIM Capital Management Ltd.where he was co-manager of several mutual funds and head of risk management. In addition to his 25 years of experience as an investment professional, Mr. DeMuth spent several years working in the oil and natural gas industry.
Gevo is converting existing ethanol plants into biorefineries to make renewable building block products for the chemical and fuel industries. The Company plans to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a "drop in" basis into existing chemical and fuel products to deliver environmental and economic benefits. Gevo is committed to a sustainable biobased economy that meets society's needs for plentiful food and clean air and water. For more information, visit http://www.gevo.com
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements that are not purely statements of historical fact, and can sometimes be identified by our use of terms such as "intend," "expect," "plan," "estimate," "future," "strive" and similar words. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2010, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Gevo.
SOURCE: Gevo, Inc.