Press Releases
Rivertop Renewables Expands Board, Changes Name
New name better reflects true nature of technology & product focus
(March 23, 2009) MISSOULA, Mt. – Montana Renewables today announced the addition of new board members and the change of its legal name to Rivertop Renewables, Inc. The addition of three experienced corporate, finance and legal executives comes as the company continues to move toward commercialization of its renewable chemical business. The name change was made to reflect the fact that the company’s chemical development platform resides at the “headwaters” of the renewable chemical industry.
“The addition of these seasoned professionals will be key to the success of Rivertop Renewables and our progressive chemistry approach,” said Mike Kadas, president of Rivertop Renewables. “They represent key facets of business – including investment, management and science – which will complement the expertise of our existing board and senior management.”
Incoming Director David L. Burner retired from his role as Chairman and CEO of Goodrich Corporation (formerly The BFGoodrich Company) in 2004. Burner led the successful transformation of 140-year-old Goodrich from its early polymer science roots into today’s $7 billion global aerospace systems and services business. This transformation took the company out of its original highly competitive commoditybased products, such as tires and polyvinyl chloride, into its current leadership positions in design and development.
Director Schuyler Lance offers finance and development expertise to Rivertop. As Managing Principal and founder of Sustainable Resource Ventures, Lance manages a series of investment funds through the Patient Capital Collaborative. The Collaborative sources deals that provide social and environmental benefit through Investors’ Circle and has invested in Rivertop Renewables.
Lance co-founded Pacific Mezzanine Investors and Windjammer Capital Investors. At Windjammer, he was directly involved in making 24 investments for an aggregate $300 million which have produced a weighted average cash-on-cash internal rate of return in excess of 30%. He has served on various boards of directors, three times as Chairman. Lance is a regular speaker at national conferences on investing for a sustainable future held by Investors' Circle.
As a managing director in one of the Big Four accounting firms, incoming Director Michael R. Nelson contributes invaluable experience and insight on finance and management matters to Rivertop. He has more than 19 years of experience in tax consultation and planning. Nelson joined the firm in 2005 after serving as tax vice president for Fortune 500 US multi-national companies in the telecommunications and healthcare industries.
Nelson has significant experience in global supply chain restructuring and intellectual property deployment. He has also provided advice in mergers and acquisitions, corporate separations, cross-border transactions, transfer pricing and audit defense.
Nelson is also a published author, having co-authored Evolution of the Distribution Supply Chain, Supply Chain Management (BNA International, Lillian Adams ed., 2008).
Burner, Lance, and Nelson join directors Donald E. Kiely (Rivertop chief technology officer), Jere Kolstad (Rivertop vice president of Finance & Business Development), and Terry Benishek, CEO of Nutritional Laboratories International, a private label and contract manufacturer of dietary supplements and Rx pharmaceutical products.
Benishek’s entrepreneurial leadership in manufacturing start-ups and ongoing concerns is highly valued at Rivertop. He is a high-integrity leader known for his ability to envision, create and execute successful outcomes in entrepreneurial, highly competitive environments.
The name change was made to reflect the fact that the company’s development platform resides at the “headwaters” of the renewable chemical industry. Rivertop’s platform includes a series of building block chemicals derived from a variety of natural sugar feedstocks upon which many other products can be developed.
About Rivertop Renewables
Based in Missoula, Montana, Rivertop Renewables is innovating a new category of
science – “Progressive Chemistry.” Merging proven science with renewable resources,
Rivertop Renewables is creating an abundant and economical supply of sustainable
and safe chemicals and bioproducts. Rivertop products are biodegradable and
built from renewable plant sugars. More information is available at the website
www.rivertop.com.