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Algenol Biofuels Further Strengthens Team With Key Appointments
Date:9/15/2008

Greg Schlicht and Dax Denman Join as Company Enters Commercialization Phase

NAPLES, Fla., Sept. 15 /PRNewswire/ -- Algenol Biofuels, developers of DIRECT TO ETHANOL(TM), the most advanced third generation biofuels technology, today announced the continued growth of the company with the appointments Greg Schlicht as Senior Vice President of Business Development and General Counsel and Dax Denman as Senior Program Manager.

Mr. Schlicht will be working with Algenol's partners to commercialize the Algenol process and will oversee select corporate legal matters for the Company. He joins the company from VeraSun Energy where he was part of the company's executive team as senior vice president, general counsel and corporate secretary. Prior to VeraSun's merger with US BioEnergy, Schlicht was responsible at US BioEnergy for establishing a corporate legal department, adopting corporate governance practices, and managing the legal process for plant acquisitions, in addition to overseeing major project financings to fund construction of new ethanol plants. Mr. Schlicht will be based in Naples, Florida and will report to Paul Woods, CEO of Algenol.

Dax Denman joins Algenol as a senior program manager and will oversee the work being conducted at Algenol's numerous labs and facilities. Prior to joining Algenol he was senior project manager at Amgen. Mr. Denman brings over 10 years experience from the bio-pharmaceutical industry commercializing recombinant therapeutic proteins through his work as a research scientist with Bayer Healthcare, and as project manager supporting technology transfer of commercial processes to Ireland, Germany, and Puerto Rico with Wyeth Pharmaceuticals. Mr. Denman holds a B.S. in Microbiology from Indiana University and a M.S. in Molecular Physiology from the University of Virginia. Mr. Denman will be based in Naples, Florida and report to Dr. Craig Smith, COO of Algenol.

Paul Woods, co-founder and CEO of Algenol Biofuels, said, "Both Greg and Dax bring impressive experience to Algenol and we look forward to the contributions they will make as we enter the critical and exciting commercialization phase of our business. We are confident we can continue to attract this caliber of executive to Algenol given the strength our technology and our ability to bring low cost algae-based ethanol to the market in 2009."

About Algenol Biofuels

Algenol Biofuels, Inc., a privately owned company, was founded in early 2006 and is engaged in broad research and development efforts to develop industrial-scale production systems to make ethanol from algae. The company's DIRECT TO ETHANOL(TM) process is the most advanced third generation biofuels technology that produces industrial-scale, low cost ethanol using algae, sunlight, CO2 and seawater. It is the only end-to-end commercial process that stabilizes and reduces CO2 levels. Algenol is slated for commercial sales of ethanol in 2009. For more information, please visit http://www.algenolbiofuels.com.


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SOURCE Algenol Biofuels, Inc.
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