Biofuels retailer Propel Fuels hires VC as CEO, targets growth, as US E85 station count grows to 1,969

Propel Fuels announced that Matt Horton, principal of venture capitalist @Ventures, will become CEO of the company, replacing Rob Elam who will remain as President. Propel recently installed E-85 ethanol and B-5 biodiesel pumps at five gas stations in Sacramento, Rocklin, Citrus Heights and Elk Grove. It also has biofuels pumps at six stations in Washington, and it plans to put hundreds more in California. Elam will continue to work on developing strategic partnerships within the industry and developing relationships with government agencies. Horton will focus on finance and finding capital for the company’s short-term and long-term needs.

Meanwhile, the National Ethanol Vehicle Coalition announced that there are now 1,969 E85 stations available across the United States, and published a free list for download at www.e85refueling.com.

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