THOUSAND OAKS, Calif., Aug. 22, 2012 /PRNewswire/ -- Energy crop company Ceres, Inc. (Nasdaq: CERE) today announced that former BP Chief Scientist and Undersecretary of Energy for Science, Steven E. Koonin, PhD, has joined the company's board of directors. Ceres' board will now have 12 members, including 10 independent directors as defined under the rules of the Nasdaq Stock Market.
"It is a great pleasure to welcome a board member with such a valuable combination of experience from both the energy industry and public service to join our efforts to commercialize our pipeline of non-food, bioenergy products," said Richard Hamilton, President and CEO of Ceres. "Continued high oil prices, despite the current economic uncertainty, underscore the unique value of liquid transportation fuels as well as the imperative to rapidly develop alternative feedstocks for biofuels."
"The ability to dovetail into the existing fuel distribution and transportation infrastructure places biofuels in an advantaged position among renewables," said Koonin. "To be both competitive and sustainable, these renewable transportation fuels will rely on the type of high-yield, low-input feedstocks made possible through dedicated energy crops. I see significant technical headroom for a company like Ceres to help the biofuels industry reach greater scale and efficiency."
Koonin served as Undersecretary for Science at the U.S. Department of Energy from May 2009, following his confirmation by the U.S. Senate, until November 2011. As the department's chief scientific officer, he provided strategic technical advice to the Secretary of Energy and oversaw technical activities across the department's science, energy, and security activities. Prior to joining the government, Koonin spent five years as Chief Scientist for BP, plc. where he led the analysis of renewable
|SOURCE Ceres, Inc.|
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