Tuesday, June 5, 2007

GreenFuel Appoints Guillermo Espiga Chief Financial Officer

GreenFuel Technologies Corporation, a leading developer of algae bioreactor systems that recycle carbon dioxide emissions into clean renewable biofuels, has announced the appointment of Guillermo Espiga as Chief Financial Officer. GreenFuel’s Emissions-to-Biofuels™ process uses safe, naturally occurring algae to recycle flue gas CO2 emissions into clean renewable biofuels and other high-value products.
Espiga will be responsible for all finance, accounting and strategic financial planning activities of the company. Espiga comes to GreenFuel with extensive experience in financing infrastructure projects at such companies as Credit Suisse First Boston and InterGen. He has led the financing of more than $2 billion in non-recourse financing, and more than $200 MM of M&A activity in the fields of power generation, oil & gas, and other energy and infrastructure related projects in the US, Latin America, Europe and Asia Pacific. Espiga received his Bachelors degree in Civil Engineering from Universidad Metropolitana in Venezuela, and his MBA from Boston College.
"As GreenFuel gets closer to deploying its first commercial scale facility, the process of bringing technology, marketing and financial partners onboard becomes mission critical," said GreenFuel CEO, Cary Bullock. "Guillermo Espiga’s extensive experience in large project strategic planning and financing will be a key asset for GreenFuel as we prepare to enter the full commercial phase of our business plan."
"GreenFuel’s algae technology has tremendous commercial potential in the booming alternatives fuel industry," said Espiga. It is a privilege to work with GreenFuels’s talented team of professionals to create a business that has so many benefits for energy security and a healthier environment."

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