Biofuels startup Cool Planet Energy Systems Inc. announced on Tuesday that it has named Barry Rowan as its new financial officer as it moves to commercialize its “carbon-negative” gasoline.
Rowan will join the company Feb. 15 after he leaves Vonage Holdings Corp. of Holmdel, N.J. He was previously CFO at Nextel Partners Inc., where he oversaw its sale to Sprint in 2006.
“Barry brings to Cool Planet a successful track record of leadership and strong execution,” said Chief Executive Howard Janzen, in a statement. “We look forward to his contributions as our company moves from its development phase through the large-scale commercialization of sustainable carbon-negative gasoline.”
The Camarillo startup, founded by entrepreneur Mike Cheiky in 2008, converts non-food biomass, such as wood chips, algae and corn cobs, into gasoline. The company claims that its production process captures carbon contained in the biomass while still making a fuel comparable to gasoline derived from crude oil.
Cool Planet has the backing of high-profile investors, including General Electric Co., Google Ventures and BP plc.