Thirty Year Industry Executive Will Lead Rive Technology To Deliver Innovative Catalyst Technology to the Petroleum Refining Industry
CAMBRIDGE, MA & PRINCETON, NJ ‐‐ March 06,2012 ‐‐ Rive Technology, a provider of innovative materials–‐based solutions for catalytic and separations processes for refining, chemicals, and biofuels, announced today that David C. Aldous has joined the Company as Chief Executive Officer. “Innovation and technology continue to drive opportunities within the refining sector. The Molecular Highway™ technology that Rive is making available to the energy industry stands to bring substantial value, efficiency, and improved profits to this sector,” said David Aldous, Rive Technology’s CEO. “2012 will be a particularly exciting year for Rive Technology as we build on last year’s successful scale‐up to commercial manufacturing and use of our technology in a commercial refinery.”
Mr. Aldous brings over 30 years of diverse experience in the refining, chemicals and catalyst industries, including over 20 years at Royal Dutch Shell where he was Executive Vice President of Strategy and Portfolio. Aldous also served as President of Shell Canada Products, where he led an $11 billion integrated oil business, which included refining. He brings deep experience in the catalyst industry to Rive from his six years as President and CEO at CRI/Criterion, a global catalyst company with a focus On refining, chemicals and petrochemicals. Most recently, Aldous was CEO of Range Fuels, a venture‐financed start‐up company commercializing cellulosic ethanol technology. He has a B.S. in Fuels Engineering from the University Of Utah and an MBA From Northwestern University.
Aldous will succeed founding CEO Lawrence Evans as part of a long‐planned succession strategy. “David brings the appropriate level of vision, energy, and experience to lead Rive at this point in the company’s evolution,” said Larry Evans, who will continue to serve on the Board of Directors as non‐executive chairman. “As Rive enters the commercialization phase, David’s deep background in the energy industry, as well as his ability to lead a growing organization is ideal.”
Mike Zak, a Rive Technology board member, thanked Evans for his time leading the Company. “Since co‐founding the company in 2005, Larry Evans has provided Rive with the vision and leadership needed to grow the company from its startup phase through initial commercialization. Larry has created a solid foundation that will now enable David Aldous to scale up operations and launch the Company commercially.”
About Rive Technology
Rive is a provider of innovative materials–‐based solutions for catalytic and separations processes for the refining, chemicals, and biofuels industries. Through its Molecular Highway™ technology, an innovative materials science platform, Rive enables higher performing catalysts and adsorbents. Rive Is commercializing its Molecular Highway technology for the petroleum refining industry with W.R. Grace (NYSE: GRA) Through jointly developed refining catalysts. Refining catalysts powered by Molecular HighwayTechnology allow refiners to profit by increasing production of high–‐quality fuels and by processing heavier crudes. Rive Has raised a total of $47 Million from The Blackstone Group, Charles River Ventures, Advanced Technology Ventures and Nth Power.