CE&P Press Releases

California Ethanol & Power, LLC Announces Management Reorganization

News | November 5, 2013

For Immediate Release

 

Brawley, California – Nov 5, 2013 - California Ethanol & Power, LLC (CE&P) today announced that it has elevated Chief Operating Officer David R. Rubenstein to the positions of President and Chief Executive Officer.  Current President, Jeffrey F. Lee, will assume the position of Manager Project Development/General Counsel. 

“We are very appreciative of the great work that Jeff has done in shepherding the company from inception to the brink of great success, and will be relying on his unique skill set going forward,” stated CE&P Management Committee member Alexander L. Cappello, who is the Chairman and CEO of Cappello Capital Corp.  Added Mr. Rubenstein, “I have come to rely on Jeff’s expertise and experience over the past several years, and look forward to that support as the company moves toward the implementation of its initial sugarcane and sweet sorghum-to-ethanol, electricity and bio-methane plant in California’s Imperial Valley.” 

Mr. Cappello further stated, “The entire CE&P team and its stakeholders have full confidence that putting Dave in charge will greatly enhance the company’s chances of success, given his prior track record of building and selling his former company to a Fortune 600 company, and the leadership that he has shown at the company to date.” Mr. Lee added, “I fully concur, and look forward to working with Dave and the team to make CE&P a resounding success.”        

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California Ethanol & Power, LLC (www.CaliforniaEthanolPower.com) intends to produce sustainable low-carbon energy in California for use in California from sugarcane, the right renewable resource. CE&P intends to develop, finance, install, own and operate a series of Projects in the Imperial and Palo Verde Valleys that grow sugarcane, extract and ferment the juice into fuel-grade ethanol, convert the remaining biomass into electricity, produce biomethane and fertilizer feedstock from the fermentation process residue, and sell the field residue for forage or electricity generation. For more information, contact VP Marketing and Public/Investor Relations Camille Soriano at csoriano@CaliforniaEthanolPower.com.

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This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof, or other variations thereof.  Each forward-looking statement, including, without limitation, any financial projections, speaks only as of the date on which it is made, and CE&P does not undertake an obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made, or to reflect the occurrence of anticipated or unanticipated events or circumstances.  The forward-looking statements are necessarily based on assumptions and estimates, and are inherently subject to various risks and uncertainties.  Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies.  Performance is subject to numerous factors, including demand for renewable fuels and the availability of, private and public sector funding. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives.

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