Range Fuels Appoints Dan Hannon to Chief Financial Officer
Palo Alto, CA and Broomfield, CO – August 14, 2007 – Range Fuels, Inc., a leading cellulosic ethanol company, announced today that Dan Hannon has joined the company as Chief Financial Officer. Hannon’s twenty-two year track record of developing financial strategy, negotiating complex transactions and communicating with global financial markets will add strength to Range Fuels’ management team.
“Our company is on the forefront of cellulosic ethanol innovation which will lead to the first commercial scale production plant in the United States. Dan’s financial skills and leadership will be an asset to our fund raising activities and in establishing positive financial relationships with global markets,” said Range Fuels’ CEO, Mitch Mandich. “We’re very excited to add him to our management team.”
Most recently, Hannon was Senior Vice President of Finance and Corporate Development at Reliant Energy, Inc., where he led the company through a $1.8 billion initial public offering, which was the largest IPO in the power industry. He was also responsible for negotiating and closing nine divestitures totaling over $4 billion, which resulted in a corresponding reduction of debt. Prior to Reliant, Dan held positions in a variety of disciplines during his 10 year tenure at Exxon Corporation, including international development, acquisitions, planning, and financial reporting
Hannon is also actively involved in community service, serving as a board member of the Boys and Girls Club of Greater Houston, an advisory board member of the Periwinkle Foundation, and a top fund raiser with the National Multiple Sclerosis Society. Hannon received his BA in business administration from the University of Georgia, and his MBA from the Owen Graduate School of Management at Vanderbilt University.
About Range Fuels, Inc.
Range Fuels, Inc., is focused on green energy and the production of cellulosic ethanol. The company does not use food products like corn, but rather uses waste materials and other non food sources and turns them into valuable products. The company's innovative technology uses wood chips, municipal waste, paper pulp, olive pits, and more and converts those materials to ethanol. The company's system, named K2, uses a two step thermo-chemical conversion process. The first step converts the biomass to synthesis gas and the second step converts the gas to ethanol. The company's business model is to design, build, own and operate its plants. The company is privately held and funded by Khosla Ventures, LLC, arguably the top venture firm in the U.S. focusing on alternative, green energy systems. The leadership team melds experience from Silicon Valley's fast-paced, high-tech world, and the technologically intense coal, coal gasification, and gas-to-liquids industries. Range Fuels' vision is to introduce the world to a fuel that's renewable, sustainable, and eco-friendly in its production.
Media contact:
Heather Milne
OutCast Communications
(215) 875-8138