|By Marketwired .||
|July 24, 2013 07:00 AM EDT||
SAN FRANCISCO, CA -- (Marketwired) -- 07/24/13 -- Siluria Technologies, which develops technology and processes for transforming natural gas into chemicals and fuels, announced today that Mr. Karl Kurz has been appointed to the Company's Board of Directors as of July 23rd, 2013. As the former Chief Operating Officer of Anadarko Petroleum, and Managing Director and Co-Head of Energy Group, CCMP Capital Advisors, Mr. Kurz brings a wealth of industry expertise and experience that will be fundamental to the Company as it moves into the next phase of scaling up for commercialization.
"Karl's arrival is perfectly timed with acceleration of our technology for transforming gas into higher-value, longer-chain liquid hydrocarbons for the natural gas, and natural gas-to-liquids fractionation (midstream) industries," said Siluria's CEO, Ed Dineen. "Karl's upstream and midstream energy expertise will be invaluable as we progress down the commercialization implementation path, and will nicely complement the experiences of our other Board members."
Mr. Kurz has over thirty years of energy industry experience with responsibility for executive management, operations, corporate governance, midstream, marketing, business development, and strategic planning. Among other positions, he served as the Chief Operating Officer for Anadarko Petroleum Corporation where he had responsibility for global exploration and production, marketing, midstream, land, technology, and engineering services. Mr. Kurz was recently Managing Director with CCMP Capital Advisors, LLC and Co-Head of the Energy Group. He has served on the Board of Directors of Chaparral Energy LLC, and Newark Energy LLC, the Natural Gas Supply Association, the American Petroleum Institute, Independent Petroleum Association of America and Western Gas Partners (WES). Mr. Kurz currently serves on the board of SemGroup (SEMG) Corporation, Global Geophysical Corporation (GGS) and Dallas Theological Seminary. He is an Eagle Scout and an active member of Bethel Bible Fellowship and The National Association of Corporate Directors.
"I am very excited to join the Siluria Board," said Mr. Kurz, "the technology is truly ground-breaking and should have broad application in the natural gas industry."
As a newly appointed Director, Mr. Kurz will be joining forces with current Board members and energy and petrochemical industry veterans, Ed Dineen and Mark Noetzel to enhance the Company's commercialization advancement. Mr. Noetzel, who joined the Siluria Board in October of 2011, brings extraordinary fuels and ethylene industries experience. Currently he is the Chairman of the Board of Directors of Axiall Corporation (formerly Georgia Gulf Corporation) and also the Chairman of Aspen Aerogels, Inc. He also was formerly Chief Executive Officer and President of Cilion, Inc. Mr. Noetzel was with BP and Amoco for 26 years, leading multi-billion dollar businesses in the fuels and chemical industry in the US, Europe and Asia. Mr. Noetzel holds a BA in international relations/political science from Yale University in 1979 and an MBA from the Wharton School of the University of Pennsylvania.
Following Karl's appointment Siluria's Board consists of seven directors, including venture capital visionaries Leighton Read (Alloy Ventures), Clint Bybee (Arch Ventures), and Bill Joy (Kleiner Perkins Caufield and Byers), as well as Lemelson Award Winner Angela Belcher (W.M. Keck Professor of Energy, MIT), Mark Noetzel (Chairman, Axiall) and Ed Dineen (CEO, Siluria).
"We are very pleased to have Karl join our team," said Leighton Read, Siluria's Board Chairman. "His experience is highly complementary to the background of our current industry heavyweights, and his marketing and operating experience broadens our ability to understand decision making in our markets. We all look forward to working with him as the company enters the next exciting phase."
About Siluria Technologies:
Siluria Technologies is commercializing its process technology for converting natural gas into higher-value chemicals and fuels. Siluria's energy-efficient process and cost-advantaged feedstock provide a compelling alternative to crude oil based processes. With a world-class technical and commercial team, Siluria Technologies is based in San Francisco, California. The company has raised $66 million from a syndicate of private equity and venture investors including; ARCH Venture Partners, The Wellcome Trust, Alloy Ventures, Kleiner Perkins Caufield & Byers, Bright Capital, Altitude Life Science Ventures, Lux Capital and Vulcan Capital.
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