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New company. Decades of experience.As alternative energy production is still in a nascent stage, opportunities exist to help catapult the industry forward. Much of this can be achieved simply by recognizing existing technologies or processes successfully employed in traditional industries. We are managed by a team of professionals with significant sector-specific knowledge in the energy industry. Our executive officers and directors have extensive experience in ethanol technology, plant design and construction, energy project development and finance. Collectively they have decades of combined experience working with such industry leaders as TIC - The Industrial Company, Delta-T Corporation, Iogen Corporation, CPC International, Inc., Fluor Corporation, Westar Energy, Inc., Amax Coal West, James River Corporation and Duke Power Company. We intend to leverage this experience and our relationships within the ethanol and energy industries to execute our business plan. Albert W. Knapp, IIIPresident, Chief Executive Officer and DirectorMr. Knapp has served as our President, Chief Executive Officer and a director since 2006. He has 30 years of management service in a progression of positions with expertise involving corporate management, business development, project execution, operations, estimating, design, and construction management. Before joining our Company, Mr. Knapp was the Senior Vice President of Business Development at TIC - The Industrial Company ("TIC"). Mr. Knapp was responsible for TIC's efforts within the ethanol industry. As Senior Vice President for TIC, he spent the last 13 years proposing, negotiating, and overseeing execution of Engineer Procure & Construct ("EPC") projects. From 1987 to 1993, Mr. Knapp served as Vice President/General Manager of TIC Southeast, Inc., and has also served as Central Region and Western Region Vice President. In these positions, he was responsible for marketing, as well as estimating and executing projects that generated up to 40% of TIC's revenue. He developed strategic alliances and joint ventures for the pursuit and execution of EPC power and energy projects. His responsibilities have included selecting engineering services, evaluating equipment vendors, developing contractual teaming/joint venture relationships, maintaining client contact, negotiating contract terms and conditions, contract administration, partnering, estimating, scheduling, procurement management and project oversight at the executive level. Mr. Knapp was instrumental in establishing TIC's diversified marketing strategy that included ethanol. He selected Delta T Corporation as TIC's Strategic Partner and established the Strategic Alliance setting forth the groundwork for the two companies to share in an explosive growth market. Mr. Knapp also serves as a director of the American Gelbvieh Association, a non-profit organization. Randall L. RahmCo-Chief Operating Officer and DirectorMr. Rahm has served as our Co-Chief Operating Officer and a director since September 2006. Before joining our Company, he was the Director, Fuel Services for Westar Energy, Inc from 1999 to 2006, and was responsible for coal procurement and transportation for over 13.5 million tons annually. From 1990 to 1999, Mr. Rahm was a Special Projects Manager for Amax Coal West, Inc. in Gillette, WY. From 1991 to 1993, There he managed the world's largest commercial sub-bituminous coal dryer located at the Amax Belle Ayr Mine. Under his management, extensive research was conducted on the Coal Dryer project in the areas of reducing the dried PRB coal's reactive characteristics, dust suppression, explosion characteristics, spontaneous combustion, and coal dust fire-fighting procedures. Mr. Rahm was also employed with McNally Pittsburg, Inc. for 14 years as a senior project manager, where he has built coal dryers and prepared and handled systems throughout the United States and Canada. Mr. Rahm has over 30 years experience in the coal industry and is a past chairman of the ASME's Fuels and Combustion Technology (FACT) Division. He is the founder, executive director and former chairman of the PRB Coal Users' Group, a non-profit entity. The PRB Coal Users' Group has over 1000 members of which 635 are from 76 operating companies. In 2006, the Secretary of Energy, Samuel W. Bodman, appointed Mr. Rahm to the National Coal Council. Bryan J. SherbacowCo-Chief Operating Officer and DirectorMr. Sherbacow has served as our Co-Chief Operating Officer and a director since September 2006. From 1993 to 2006, he was an asset manager, investing in both public and private companies. He was personally responsible for over $2.5 billion in transactions comprised primarily of publicly traded equity, convertible preferred and high yield bond securities. In 1995, Mr. Sherbacow established The Armistead Group, Inc. ("TAG") in New York to provide analytical and trading services as well as manage its hedge fund business. In 2005, he established a private equity group within TAG to invest in coal and alternative energy companies. Mr. Sherbacow also serves on the board of directors for the Charleston Concert Association. Robert C. WaltherExecutive Chairman and DirectorMr. Walther has served as our as Executive Chairman and a director since September 2006. He founded Industrial Power Technology ("IPT") in 1983 and is currently its President. As a professional engineer and certified plant engineer, he is responsible for the strategic planning, design, and construction of power generation and control systems. Over the last 35 years, Mr. Walther has been a team leader in developing and constructing numerous utility and private sector power generating stations and transmission systems. This, along with the understanding of fuel and its availability, has lead to programs of effective fuel utilization and energy optimization, as well as cost-effective programs of long-term fuel acquisition. Mr. Walther has personally led IPT's international expansion into the U.K., Philippines, and the People's Republic of China, where IPT's development team has developed several power projects. Mr. Walther also has extensive experience in engineering and construction management for roads, utilities, and all associated systems. He is also responsible for the planning and management of the development and construction of environmental systems, including zero discharge of liquid waste streams, and air quality clean-up systems. Mr. Walther is President and CEO of IPT Ethanol, Inc, one of our wholly-owned subsidiaries. David J. McKittrickExecutive Vice-President and Chief Financial OfficerMr. Mckittrick has served as our Executive Vice President and Chief Financial Officer since October 9, 2006. As a member of our senior management team, Mr. McKittrick was responsible for all corporate finance, accounting and management information systems, as well as being involved in strategic planning, acquisitions, and membership in all operating committees. Before joining Ethanex, Mr. McKittrick was the principal of David J. McKittrick, LLC, a financial and management consulting business founded in 2003. The company focused on troubled industrial companies, and he engaged in recapitalizing companies in default, restructuring dysfunctional finance departments, lender relations, systems redesign, and due diligence investigations. From 1998 to 2001, Mr. McKittrick served as President and Chief Operating Officer for OnStream, Inc., a developer of digital computer backup devices. He served as Senior Vice President and Chief Financial Officer of Gateway 2000, Inc., a global manufacturer and direct marketer of personal computers, from 1995 to 1998. From 1992 to 1994, Mr. McKittrick served as Vice Chairman and Chief Operating Officer of Collins & Aikman Group, Inc., a broad-based specialty manufacturing company with sales of $1.4 billion. His position was created to provide intensified management of our decentralized operations in a highly-leveraged and troubled environment. From 1972 to 1992, Mr. McKittrick was with James River Corporation, a Fortune 100 paper and consumer products company, which was ultimately acquired by Georgia Pacific Corporation. During Mr. McKittrick's tenure he served as chief financial officer, while annual revenues for the company increased from $14 million to approximately $8.5 billion. As a key member of senior management, he was one of a few people who guided the strategic direction and growth of the company. Mr. McKittrick began his career with Coopers & Lybrand on their audit staff and where he became a certified public accountant. Mr. McKittrick also serves as a member of the board of directors of Wellman, Inc., a NYSE chemical producer, and on the board of trustees of Hampden-Sydney College. Thomas G. KraemerDirectorMr. Kraemer has served as a director since September 2006. He has over 25 years experience in the railroad industry, in positions as diverse as marketing and investment management. From 1999 to May 2006, he has led BNSF's Coal Business Unit. From 1996 to 1999, Mr. Kraemer was Vice President of Coal and Grain Operations for BNSF. In 1991, he was promoted to Assistant Vice President-Coal Logistics and was promoted again in 1993 to Vice President of the Iron and Steel Business Unit. He was responsible for BNSF's freight equipment and locomotive investments from 1988 through 1991. In 1984, he obtained a position in corporate strategic planning and the Director of Interline Marketing. Over the past 15 years Mr. Kraemer has been actively involved with a variety of energy related organizations, including the Center for Energy and Economic Development, American Coal Council, National Mining Association, and Association of American Railroads. Mr. Kraemer was appointed Chairman of the United States Department of Energy's National Coal Council for 2004 - 2005. Johnny F. Norris, Jr.DirectorMr. Norris has served as a director since September 2006. In 2003, Mr. Norris became self employed as a private consultant to companies in energy related industries, including Fuel Tech, Inc. Mr. Norris is currently a director of Fuel Tech, N.V. where he also serves as President and Chief Executive Officer. In 1999, he joined the American Bureau of Shipping Group as President and Chief Operating Officer, and, in the same year joined American Electric Power as Senior Vice President, Operations and Technical Services. Mr. Norris joined Duke Power Company in 1982 as an Assistant Engineer, progressing through various positions up to Senior Vice President of Duke Energy Corporation and Chairman and Chief Executive Officer of Duke Energy Global Asset Development before his departure in 1999. William A. NitzeDirectorWilliam A. Nitze currently serves as Chairman of GridPoint, Inc., a Washington, DC-based company that designs and manufactures intelligent energy management systems, and Oceana Energy Company, a company that is developing new technology for converting tidal energy into electricity. Mr. Nitze has spent most of his career in the energy and environmental fields. Mr. Nitze served as Assistant Administrator for International Activities at the US Environmental Protection Agency (1994-2001), where he made environmental security a focus of the agency's international work and established a formal working relationship among the Department of Defense, the Department of Energy and the EPA on environmental security issues. As President of the Alliance to Save Energy (1990-1994), Mr. Nitze led a broad coalition of business, government, labor and consumer interests in supporting and implementing policies and programs to promote energy efficiency. Mr. Nitze also served as Deputy Assistant Secretary of State for Environment (1987-1990), and was the principal negotiator on multilateral environmental issues. Prior to entering the public policy arena, Mr. Nitze spent fourteen years at the Mobil Oil Corporation (1974-1987), where he served as Assistant General Counsel, Exploration and Producing Division, and General Counsel, Mobil Japan. Mr. Nitze currently chairs the Board of Directors of the Climate Institute and the Galapagos Conservancy. He holds B.A. degrees from Harvard College and Wadham College, Oxford, and a J.D. degree from Harvard Law School. Mr. Nitze will serve on the board's Compensation Committee and will Chair the Corporate Governance and Nominating Committee. Robert E. DowlingDirectorMr. Dowling has over 20 years experience as a senior financial executive and Assurance and Advisory Business Services Partner with Ernst & Young, LLP (1985-2006), a global leader in providing accounting, tax and assurance services. Mr. Dowling has a broad range of achievements and experience in all key areas of financial planning and management, including auditing and risk assessment, financial reporting and analysis, budget management and cash flow optimization and business opportunity assessments. Mr. Dowling was the coordinating audit partner for several clients with annual revenue in excess of a billion dollars, ensured proper implementation of Sarbanes-Oxley, and led clients through successful regulatory challenges and review. He has experience in advising companies in raising and leveraging capital through private and public debt offerings and assisted with mergers and acquisitions due diligence. Mr. Dowling is a Certified Public Accountant, licensed in Missouri, Kansas and New York. He currently chairs the Board of Directors of the Kansas City Chapter of the March of Dimes, a position he has held since 2004. Mr. Dowling holds a B.S. degree in Accounting from Michigan State University. Mr. Dowling will serve on the board's Corporate Governance and Nominating Committee and will Chair the Audit Committee. Mr. Dowling qualifies as an "audit committee financial expert" in accordance with the Nasdaq Global Market listing standard. |
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