Rive Technology, based on Deer Park Drive in Monmouth Junction, has named David C. Aldous as its new CEO.
Rive is a provider of materials-based solutions for catalytic and separations processes for the refining, chemicals, and biofuels industries.
Aldous succeeds founding CEO Lawrence Evans as part of a long-planned succession strategy. “David brings the appropriate level of vision, energy, and experience to lead Rive at this point in the company’s evolution,” said Evans, who will continue to serve on the board of directors as non-executive chairman. “As Rive enters the commercialization phase, David’s deep background in the energy industry as well as his ability to lead a growing organization is ideal.”
Said Aldous: “Innovation and technology continue to drive opportunities in the refining sector. The Molecular Highway technology that Rive is making available to the energy industry stands to bring substantial value, efficiency, and improved profits to this sector.”
He added that during 2012, Rive will “build on last year’s successful scale-up to commercial manufacturing and use of our technology in a commercial refinery.”
Molecular Highway technology enables higher performing catalysts and adsorbents. Rive is commercializing Molecular Highway technology for the petroleum refining industry with W.R. Grace through jointly developed refining catalysts.
Refining catalysts powered by Molecular Highway technology allow refiners to profit by increasing production of high-quality fuels and by processing heavier crudes. Rive has raised $47 million from the Blackstone Group, Charles River Ventures, Advanced Technology Ventures, and Nth Power.
Aldous brings more than 30 years experience in the refining, chemicals, and catalyst industries, including some 20 years at Royal Dutch Shell where he was executive vice president of strategy and portfolio.
He also served as president of Shell Canada Products, where he led an $11 billion integrated oil business, which included refining. He brings experience in the catalyst industry to Rive from his six years as president and CEO at CRI/Criterion, a global catalyst company with a focus on refining, chemicals and petrochemicals.
Most recently, Aldous was CEO of Range Fuels, a venture-financed start-up company commercializing cellulosic ethanol technology. He has a B.S. in fuels engineering from the University of Utah and an MBA from Northwestern University.
Rive Technology, 1 Deer Park Drive, Suite A, Monmouth Junction 08852; 732-329-4441; fax, 732-329-4464. David C. Aldous, CEO. www.rivetechnology.com
