Jeffrey R. Spain joins Rentech as senior VP of finance and accounting, will be instrumental in securing project, corporate financing; Eric Darmstaedter joins as VP of business development, continues to serve as president of ClearFuels Technology
August 8, 2011
– Rentech, Inc. (NYSE AMEX: RTK) announced today additions to the Company's finance and project development teams.
Jeffrey R. Spain joined the Company as Senior Vice President, Finance and Accounting. Mr. Spain is responsible for the finance, planning, accounting, purchasing and information technology functions and will play an instrumental role in securing Rentech's project and corporate financings. Mr. Spain's experience spans over 20 years and includes investment banking and operations management and Chief Financial Officer roles of high growth companies. His past employers include Credit Suisse First Boston, Kimberly-Clark Corporation, LeadPoint, Inc. and eNutrition, Inc. Mr. Spain received his Masters of Business Administration from the Anderson Graduate School of Management at UCLA and earned his Bachelor's degree in finance from Southern Methodist University.
Eric Darmstaedter joined Rentech as Vice President of Business Development and he also continues to serve as President of ClearFuels Technology Inc. following Rentech's majority acquisition of the company in May 2011. Mr. Darmstaedter, a founding member of ClearFuels, is responsible for renewable fuels and power projects that would deploy the Rentech-ClearFuels biomass gasifier. He has 30 years of technical and commercial experience in the U.S. and Asian energy industries, including development of project companies, start-ups, strategic partnerships, joint ventures and execution of acquisitions, technology transfers and licensing agreements. Mr. Darmstaedter was formerly the Vice President of Business Development for various companies including HEI Power Corp International, Metcalf & Eddy and Research Cottrell. He holds a Bachelor's degree in Environmental Engineering from Cornell University.
Colin H. Campbell joined Rentech as Vice President of Business Development for Canada. Mr. Campbell will play a pivotal role in developing Rentech's fuels and Canadian strategies. Mr. Campbell brings with him over 20 years of experience in the oil and gas industry, the majority of which was spent with Royal Dutch Shell in Canada, the United Kingdom and the U.S. While at Shell, he supported, among other things, the successful project execution of Shell's 100,000 barrels per day Oil Sands Mine and Upgrader expansion. Mr. Campbell is a candidate for an Executive Masters of Business of Administration from Royal Roads University. He received his Bachelor's degree in Economics from Queens University.
In connection with joining Rentech, Messrs. Darmstaedter and Campbell shall be granted 50,000 and 75,000 restricted stock units, respectively, that are to be settled in shares of common stock of Rentech. These inducement awards of restricted stock units will vest over a three-year period, subject to acceleration under certain circumstances, including termination without cause upon a change in control.
About Rentech, Inc.
Rentech, Inc. (http://www.rentechinc.com), incorporated in 1981, provides clean energy solutions and produces nitrogen fertilizer. The Company's Rentech-SilvaGas and Rentech-ClearFuels biomass gasification processes can convert multiple cellulosic biomass feedstocks into synthesis gas (syngas) for production of renewable fuels and power. Combining the gasification processes with Rentech's unique application of syngas conditioning and clean-up technology and the patented Rentech Process based on Fischer-Tropsch chemistry, Rentech offers an integrated solution for production of synthetic fuels from cellulosic biomass. The Rentech Process can also convert syngas from fossil resources into ultra-clean synthetic jet and diesel fuels, specialty waxes, and chemicals. Final product upgrading and acid gas removal technologies are provided under an alliance with UOP, a Honeywell company. Rentech develops projects and offers licenses for these technologies for application in synthetic fuels and power facilities worldwide. Rentech Energy Midwest Corporation, the Company's wholly-owned subsidiary, manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate, urea granule, and urea solution in the corn-belt region of the central United States. Rentech has been recognized by Biofuels Digest as one of the 50 Hottest Companies in Bio-energy and has been named as one of the Biofuels Digest Companies of the Year for its innovations and achievements, particularly in aviation biofuels.