Marlborough, Mass. (Vocus) October 23, 2009
Massachusetts-based biofuels company Qteros , whose breakthrough Q Microbe™ technology turns biomass into cellulosic ethanol, has welcomed Kevin F. McLaughlin and Ralph M. Lerner to the Qteros leadership team.
Mr. McLaughlin brings 30 years of financial and operating management experience from the high tech, biotech, and education industries.
Mr. Lerner has over 20 years of industry experience in general management, business development, and strategy development and implementation in the global petrochemical and energy industry, with companies including BP and Amoco. Mr. Lerner brings to the company a global perspective, having spent six years in Asia; an in-depth understanding of global commodities markets, and extensive experience in developing innovative commercial arrangements.
"Kevin and Ralph arrive at Qteros at a critical time, and we're confident that their backgrounds and skills will help guide our company through our next stages of development and growth," said Qteros president and CEO Dr. William Frey. "As key members of our dynamic leadership team, they will help us build Qteros into an exceptional commercial success."
Mr. McLaughlin most recently served as Chief Operating Officer and member of the Board of Directors at Aptius Education, Inc., a company he helped cofound, which is focused on the acquisition of companies in the areas of career education, vocational and technical training and licensing, and certification programs. From 1996 through 2007, Mr. McLaughlin was with PRAECIS Pharmaceuticals, where as the company's first Chief Financial Officer he had responsibility for private financings, partnership financings, and the company's IPO and secondary stock offerings. In 2004, Mr. McLaughlin became COO and then President and CEO and member of the Board of Directors of PRAECIS and was responsible for negotiations resulting in the sale of the company to GlaxoSmithKline. Earlier in his career he spent 16 years in senior financial roles at Prime Computer and Computervision Corporation.
"Qteros is a fast-moving company with a solid foundation and a great deal of promise in a next-generation industry," said Mr. McLaughlin. "It's very exciting to join the company as it prepares for significant growth."
Mr. Lerner was most recently Vice President of Ventures and Business support for BP's chemicals business based in Shanghai, China, where he served on the Board of Directors and represented BP's shareholder interests in a large joint venture located outside of Shanghai. Prior to that role, he was based in the Chicago area, as general manager of a $600 million global chemical business with manufacturing facilities in the U.S., Canada, and Europe. Earlier in his career, he served as Vice President of Ventures and Development for BP Chemicals based in Hong Kong and Venture Development Manager for Amoco Corporation, as well as holding positions in finance and engineering.
"Throughout my career, I've led multi-functional teams that were focused on creating value through developing and implementing new strategies, projects, and commercial arrangements -- in businesses with a commodity focus and a global perspective," Lerner said. "Bringing that experience to Qteros, a cutting-edge energy company with national and international ties, allows me to apply my skills in one of today's most exciting industries."
Qteros is a venture-backed company committed to delivering innovative process technologies for clean transportation fuels that reduce greenhouse gas emissions at a price competitive with gasoline. The Qteros scientists and business team are dedicated to producing liquid fuels to achieve a sustainable solution to the world's growing energy needs.
See http://www.qteros.com for more information. Contact: Patricia Charles, 301-887-1060 x111
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