Gevo Inc., Englewood, Colorado, has announced that Ruth Dreessen, a company director since 2012, has been named Chair of the Board, replacing Shai Weiss, who has stepped down from both the chair position and the board of directors. The change took effect immediately.
Gevo develops technologies related to renewable fuels, chemical products and biofuels company. One form of technology developed by the company uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus on the production of isobutanol and related products from renewable feedstocks, including scrap wood. One project has focused specifically on converting scrap wood to jet fuel.
In addition to the change at the board chair level, Gary Mize, a director since 2011, has assumed the role of Audit Committee chair. Dreessen had served as the Audit Committee Chair since 2012 and will remain a member of the Audit Committee.
Dreessen has been involved in the chemicals industry for more than 25 years and has served on the boards and as an officer of several public companies. She is currently on the board of Targa Resource Partners LP (NGLS) and a managing director of Lion Chemical Capital, a private equity firm focused on the chemical industry.
“I’m excited to play an expanded leadership role as Gevo transitions to its next phase of commercial growth,” says Dreessen. “I'm pleased that all litigation and patent disputes are behind us, and that we can focus unimpeded on commercialization and growth,” she adds.
“I’m delighted that Ruth will assume the Chairman role,” says said Patrick Gruber, CEO of Gevo. Ruth has been a valuable board member for several years. Her experience in the chemicals sector is wide and multifaceted and gives her great strategic perspective to lead our board. I really look forward to working with her in this capacity.”
Says Weiss, who became chief financial officer and director of Virgin Atlantic Limited in July 2015, “I am very pleased with Gevo’s progress toward making renewable fuels and chemicals commercially available. The positive resolution of the dispute with Butamax puts Gevo on solid footing for success and acceleration of its business. Alternatives to petroleum-based jet fuel, such as Gevo’s alcohol-to-jet fuel, present a potentially exciting opportunity since jet fuel demand will continue to increase based on the expansion of air travel worldwide. I wish Gevo great success and know that it is in great hands with Ruth as its new chairman.”
Adds CEO Gruber, “Shai was instrumental in recruiting me to come to Gevo and has been with us as a director for over eight years. I wish Shai the very best in his role at Virgin Atlantic. I thank him for his long, dedicated service and his ongoing friendship.”
Gevo says its strategy is to commercialize bio-based alternatives to petroleum-based products to allow for the optimization of fermentation facilities’ assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne, Minnesota.
The company also has developed technology to produce hydrocarbon products from renewable alcohols. The Gevo biorefinery in Silsbee, Texas (operated in collaboration with South Hampton Resources Inc.), has been designed to produce renewable jet fuel, octane and ingredients for plastics like polyester.
