Virent Welcomes John Rice to Board
Rice’s Arrival Adds Significant Agricultural Industry Experience
Madison, Wisconsin – May 21, 2012 – Virent announced that John D. Rice has joined its Board of Directors. “It is a privilege and honor to welcome John to our Board,” said Virent CEO Lee Edwards. “His background in agricultural commodities, new product launch, international trade and manufacturing is a perfect match to our commercial opportunities. Virent looks forward to having the benefit of John’s strategic planning and executive experience with Archer Daniels Midland, a globally recognized agricultural commodities and product corporation.”
Rice has had a long and successful career with increasing leadership at the Archer Daniels Midland Company over the past 36 years, serving as its Vice Chairman, Commercial and Production prior to his pending retirement. He has also held various Executive Vice President positions during his tenure, overseeing risk management, marketing, corn processing, global bioproducts and other divisions of the company. He holds a B.S. in Accounting from the University of St. Thomas in St. Paul, Minnesota.
“I am delighted to be part of the Virent Board of Directors. The Company’s collaborations, strong intellectual property position and feedstock flexibility uniquely position Virent to meet the growing need for biobased fuels and chemicals,” Rice said. “I look forward to working with Lee and the executive team to leverage these capabilities into a long term, sustainable business.”
About Virent, Inc.
Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based sugars into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic investors, including Cargill, Coca-Cola, Honda and Shell, as well as 125 employees based in Madison, Wisconsin.
The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award. Please learn more at www.virent.com.
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Marketing Manager, Virent, Inc.
3571 Anderson St.
Madison, WI 53704