October 1, 2009
(Chicago, IL) Benefuel Inc. announces the recent election of Mr. Tom Ryley to the position of chairman of the board. Ryley, formerly with Suncor Energy Inc. of Canada, is an investor in Benefuel and has been serving as a management advisor to this early-stage biodiesel producer. Tom Ryley was formerly an Executive Vice President of Suncor Energy, where he was responsible for Suncor's refining and marketing business. His career with the company spanned 25 years, including 10 years as a member of the executive committee, and reporting to the CEO. Tom was nominated to the Benefuel Board of Directors concurrent with his investment in the company’s initial round of financing. Since Tom’s retirement from Suncor in 2008, he has started a petroleum consulting company, Beacon Head Energy, and is the manager and lead advisor to its Energy Fund, which focuses on investments in the alternative and renewable energy sectors. Tom's career at Suncor included executive responsibilities for all operational and commercial matters relating to crude oil trading, refining, and petroleum product supply and marketing. He led the development of Suncor’s bio-fuels business, beginning with the blending of ethanol gasoline in1992 and including the construction of Canada’s largest ethanol plant in 2006. Tom’s in-depth knowledge of the petroleum industry and its downstream operations across both Canada and the U.S will provide Benefuel with significant experience and assistance in planning and managing a rapid expansion of biodiesel production and marketing.
“Adding Tom to our group of senior business and technical advisors strengthens Benefuel’s position in the rapidly changing alternative fuels market,” said Robert Tripp, Benefuel CEO. “We’re excited about the depth of understanding of the fuel markets that Tom brings to our decision making processes.”
Benefuel is commercializing the world’s most advanced, solid catalyst biodiesel refining platform, capable of producing high quality biodiesel from almost any type of feedstock and thereby transforming the old model of large batch, centralized fuel production and fragmented distribution into a new model of localized production and consumption from the vast array of renewable, inedible fats and oils available in the global market.