Former W.R. Grace Executive to Establish Manufacturing Partnerships for Breakthrough Petroleum Refining Catalyst Technology

MARCH 16, 2010 ‐‐ CAMBRIDGE, MA & PRINCETON, NJ ‐‐ Rive Technology, an innovative catalyst technology company for the petroleum refining industry, announced today that Chris Haynes has joined its team as Senior Director of Business Development. In this position, Chris will direct the transfer of Rive’s technology to its manufacturing partners and lead them through successful manufacturing trials. He will also be responsible for supporting the business development efforts for Rive’s manufacturing process licensing activities with potential catalyst partners in anticipation of widespread commercial deployment throughout the refining industry.

Rive’s proprietary technology, invented at MIT, makes traditional refining catalysts more accessible to large hydrocarbon molecules, providing refiners with the flexibility to improve profitability through more efficient use of crude oil, increased production of transportation fuels, and the processing of heavier crude oil. Rive’s new catalyst is a drop‐in replacement for existing catalysts, allowing commercial use without capital investment, and also has the potential to lower carbon dioxide emissions from refineries.

Prior to joining Rive, Chris was Director of Manufacturing Strategy for W.R. Grace’s specialty chemical division and was previously the Director of Manufacturing for their refining catalyst business.

“Chris brings a strong background of manufacturing and technical leadership in catalysts and advanced materials,” said Larry Evans, Chief Executive Officer of Rive Technology. “He will be instrumental in providing manufacturing expertise to support Rive’s development efforts in anticipation of commercialization in late 2011”.


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