LEBANON, N.H.--(BUSINESS WIRE)--Mascoma Corporation, a bioconversion company, announced today that they have appointed two new members to its Board of Directors, Steve Percy, former Chairman and CEO of BP America and Dan Nelson, former Vice President of ExxonMobil. During the company’s current growth period, Mascoma is diversifying its Board of Directors by drawing on a wide range of expertise in finance, technology, operations, and regulatory affairs to guide Mascoma’s management team as they continue to commercialize Mascoma’s proprietary CBP platform across a broad spectrum of biomass to fuel and chemical applications.
“We are excited to welcome Steve and Dan to our board as we continue to execute our vision of enabling the production and commercialization of environmentally sustainable, low cost, low-carbon fuels and chemicals from biomass. Their depth of experience in the critical aspects of building a world class company will be a tremendous asset to us as we continue to expand and grow,” said Bill Brady, President and CEO of Mascoma.
Steve Percy is the former Chairman and CEO of BP America, Inc., Since retiring from BP he has served as the head of Phillips Petroleum’s Refining, Marketing and Transportation Company, visited as a Professor of Corporate Strategy and International Business at the University of Michigan’s Ross School of Business, and lectured at Michigan’s School of Natural Resources and the Environment. Previously, he has served as a member of President Clinton’s Council on Sustainable Development in the role of Co-Chair of its Climate Change Task Force. He also served as Vice Chair of the board of Resources for the Future, an environmental and economic research organization.
“I am thrilled to be joining Mascoma’s Board of Directors, which already consists of a number of highly influential industry leaders,” said Steve Percy. “Mascoma continues to make very strong progress and I look forward to working with a company that is well-positioned to be a leader in providing these state-of-the-art solutions.”
For over 32 years, Dan Nelson worked for Exxon Mobil. Most recently, Mr. Nelson served as the Vice President Government Relations of Exxon Mobil. During his career, Mr. Nelson held a variety of senior positions with the corporation, in the United States and internationally. Following the ExxonMobil merger he was appointed Chairman and Chief Executive Officer of ExxonMobil Saudi Arabia Inc. Mr. Nelson served as Director of several key projects, including Saudi-Yanbu Petrochemical Company (Yanpet), Al Jubail Petrochemical Company (Kemya), Saudi Aramco-Mobil Refinery Company (Samref) and Saudi Aramco Lubricating Oil Refinery Company (Luberef). In addition, he has served as a Director of several non-profit organizations, including Arena Stage, Meridian International Center, American Near East Refugee Aid, N Street Village, Middle East Policy Council and the Middle East Institute.
“Mascoma is consistently redefining the bioconversion business, enabling biofuel and biochemical conversion and commercialization,” said Dan Nelson. “It is a fascinating time for the industry and I am honored to be joining Mascoma’s board and look forward to working with the other members as the company continues to make strides into the future.”
Mascoma is a bioconversion company that enables efficient production of fuels and chemicals from any source of biomass. Using its proprietary consolidated bioprocessing, or CBP, technology platform, Mascoma has developed bioengineered yeasts and other microorganisms to reduce costs and improve yields in the production of renewable fuels and chemicals. Mascoma’s first commercial application of its CBP technology is its Mascoma Grain Technology, or MGT®, yeast products, which are drop-in substitutes for existing yeasts designed to improve the economics of corn-based ethanol production. Mascoma is pursuing other commercial applications of its CBP technology and is partnering with companies that operate or plan to operate facilities that produce cellulosic ethanol, as well as working with collaborators to develop and construct commercial scale facilities to convert woody biomass to cellulosic ethanol.