Sustainable Finance

Global Clean Energy Holdings Announces Appointment of Two Board Members and Closure of $145 Million Equity Financing

Published on: 5 March 2022 08:05 PM
by KnowESG

A Brief Summary

Global Clean Energy Holdings, a renewable energy company, announced closing a $145 million financing round led by ExxonMobil. The proceeds would be used to complete the conversion of the company's Bakersfield, California, biorefinery project and to enhance the development of its camelina feedstock production business. It also announced the appointment of Ms Amy K. Woods and Mr E. Nicholas Jones to its Board of Directors.

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Ms Wood, at present, is the Americas Feed & Product Manager for Fuels and Lubricants Division of Exxon Mobil Corporation. She takes responsibility for the supply chain optimization for America's crude and products and bio-fuels business development.

Ms Wood joined ExxonMobil in 1994 and held several positions in the company, including refinery process design, strategic advisor positions, logistics optimization, renewable business activities. She has a Master's degree in Chemical Engineering.

“The funding accomplishes several key goals,” said Richard Palmer, CEO and President. “It provides additional capital to complete and enhance our Bakersfield biorefinery, restructures the existing mezzanine debt in a manner that will allow our Company to realize significant future cash flows and accelerates our upstream camelina feedstock deployment. We are also pleased to welcome Amy Woods and Nick Jones to the Company’s Board of Directors.”

Mr Jones has been working for ExxonMobil Researching & Engineering Company as the Process Engineering Division Manager since 2019. He is in charge of providing ExxonMobil's global manufacturing sites with technical support and technology development for process safety, refining technologies and environmental activities. He joined ExxonMobil in 2001 and completed PhD in Chemical Engineering.

“We are excited to welcome Amy and Nick to our Board of Directors and look forward to the contributions that their technical and industry expertise, business perspectives and global insights will make to the ongoing success of Global Clean Energy Holdings,” said David Walker, the Company’s Chairman of the Board.