San Francisco, CA - January, 11th, 2016
Siluria Technologies, a leading innovator disrupting the energy and petrochemical industries with novel process technologies, announced today that Erik Scher, currently Executive Vice President and company co-founder, will replace Ed Dineen as Siluria’s Interim CEO. Mr. Dineen has announced that he will be stepping down from the CEO role in January 2016.
Dr. Scher has led the development and commercialization of Siluria’s innovative technologies since the company’s inception and is an architect of Siluria’s vision of altering the existing energy landscape. “From our start seven years ago, Siluria has consistently exceeded expectations,” said Dr. Scher, “be they technical, financial, or commercial. I look forward to leading this phenomenal organization and working with our partners as we commercialize our technology and find new solutions to global energy challenges.”
During Mr. Dineen’s tenure at Siluria, the company formed multiple key strategic partnerships, scaled-up its breakthrough technology, expanded its commercial activities domestically and internationally, and built up a world-class organization. “I am pleased to transition my role to the capable hands of Dr. Scher. I will remain involved in the company’s operations through my role on the Board and look forward to advancing the company’s bold mission and supporting our accomplished management team.”
“Siluria has grown tremendously under Ed’s leadership,” said Siluria Chairman Karl Kurz. “We appreciate what Ed has done for the company and look forward to his continuing service on the Board. We are fortunate to have such a well-equipped leader in Erik to step into the role of Interim CEO as Siluria continues to enhance and commercialize its revolutionary technology. The Board will be working with the team at executive search firm Heidrick & Struggles to assist us in engaging our next CEO."
Siluria Technologies is pioneering the commercial production of fuels and chemicals made from clean, abundant natural gas. Siluria’s proprietary technologies address the global petrochemical industry’s complex challenges of volatile commodity prices, shifting supply and demand patterns, stricter environmental regulations, and capitally intensive conventional technologies.
Siluria’s breakthrough Oxidative Coupling of Methane (“OCM”) process is believed to be the first commercially-viable process to directly convert methane to ethylene. Siluria’s second process technology can convert ethylene to liquid fuels, such as gasoline, diesel or jet fuel. Both processes enable natural gas to supplement petroleum as the worldwide basis for transportation fuels and commodity chemicals. Siluria’s revolutionary catalyst and process technologies uniquely combine nanomaterials, catalyst development, and chemical engineering, to convert natural gas into higher-value products through efficient processes that can be seamlessly integrated into existing industry infrastructure.