In Colorado, the founding CEO of Range Fuels, Mitch Mandich, who led the company through an $100 million capital raise and secured $80 million funding for cellulosic ethanol demonstration from the DOE, has stepped down. His replacement is David Aldous, a former EVP of Strategy and Portfolio for Shell. Aldous was also formerly president of Shell Canada Products.
Mandich will remain as a director of the company, and no reasons were cited specifically for the change. Imperium and LS9 have also recently replaced their CEOs, and in LS9’s case also reached over to the petroleum business for an executive believed to be more suitable for the demonstration phase for advanced biofuels companies.
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