Kreido Biofuels, Inc. (OTCBB:KRBF) today announced the election of David Nazarian, 45, and David Mandel, 41, to the company’s Board of Directors.
Betsy Wood Knapp, Kreido’s Chair of the Board, stated, “David Nazarian and David Mandel have been instrumental in promoting and supporting the development and application of Kreido’s innovative technology for improving the biodiesel production process and they bring a wealth of additional insight and experience to the board.”
David Nazarian is the founding member of Smart Technology Ventures. Mr. Nazarian is a successful entrepreneur who has funded and built a number of technology companies in his nearly 20 years of operational and investment activities. Mr. Nazarian serves on the board of directors for Poseidon, FutureTrade Technologies, Lucix and Allard Industries. He is a member of the board of governors and the investment committee for both Cedars-Sinai Medical Center and the UCLA Foundation. He received his MBA from the University of Southern California.
“I look forward to working more closely with the Kreido team to commercialize the company’s proprietary STT system,” said Nazarian. “The company has tremendous technology that could transform this rapidly developing biodiesel production industry.”
David Mandel is an established private venture capital investor focusing on early-stage technology companies based in Southern California. He was a seed investor in Broadcom, Innovent Systems (acquired by Broadcom) and Access360 (acquired by IBM), and has co-invested with established venture capital firms including Crosspoint Venture Partners, New Enterprise Associates, SunAmerica Ventures and Constellation Ventures, which is a division of Bear Sterns. Prior to becoming active in venture capital, he served on the research staff at the University of Toronto, Department of Biophysics, where he focused on molecular simulations. Mr. Mandel received his Bachelor's Degree in Mathematics from the University of Pennsylvania.
“I have been working closely with the company as Advisor to the Board, and know firsthand the potential for Kreido’s technology,” said Mr. Mandel. “The global need for alternative fuel solutions is growing and I welcome the opportunity to further contribute as a board member toward the goal of bringing Kreido’s initiatives to fruition.”
Ben Binninger, Chief Executive Officer of Kreido Biofuels, Inc., stated, “We are delighted to add the expertise and commitment of both David Nazarian and David Mandel to our board of directors. Companies such as Kreido in their early stages of development benefit greatly from the capabilities of its board members. To have David Mandel and David Nazarian bring their talents to bear on our development and expansion plans will be of great value to the company and its shareholders.”
About Kreido Biofuels
Kreido Biofuels, Inc. is providing renewable energy innovation through its proprietary process intensification technology – the STT® system. The company is currently developing biodiesel plants in the U.S. with an anticipated capacity of 100 million gallons per year. Kreido’s plants are built around its STT® 30G biodiesel production unit, a complete modular biodiesel production system. Kreido Biofuels’ plants are designed to improve production efficiency and flexibility, while using less equipment and infrastructure to produce quality biodiesel. The company plans to license its biodiesel technology worldwide. STT is a registered USPTO trademark of Kreido Biofuels, all rights reserved. For more information about Kreido Biofuels, visit www.kreido.com.
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