SOURCE: SG Biofuels

SG Biofuels

May 30, 2012 06:00 ET

SG Biofuels Ramps Seed Production and Corporate Development With Key Hires

SAN DIEGO, CA--(Marketwire - May 30, 2012) - SG Biofuels, Inc. (SGB), an energy crop company delivering high performance bioenergy solutions for the renewable fuel, biomass and chemical markets, has expanded its seed production and corporate development units with the addition of Michael Pereira as director of seed supply chain and Andre Basbaum as director of corporate development.

Pereira will drive a significant expansion of SGB's global seed production capabilities for advanced hybrid varieties of Jatropha as a non-food energy crop. Basbaum will direct SGB's global corporate and new business development activities with an emphasis on the energy, aviation and agricultural sectors.

Michael Pereira brings to SGB more than 30 years of quality and production experience for energy and vegetable crops, previously serving as global head of small seed vegetable production for Syngenta, global head of production for HM-Clause and vice president of production and quality assurance for Harris Moran Seed Company. He most recently served as director of production and quality for Mendel Biotechnology, where he established seed production, quality and seed technology functions to bring miscanthus to market as a seeded product for biofuels.

Andre Basbaum has 15 years of experience leading corporate and business development for companies in the United States, Brazil and Asia. He has identified and closed business transactions totaling more than $300 million including corporate fund raising, licensing deals, product acquisitions, mergers and acquisitions and research collaborations. He most recently served as director of business development for Ventirx Pharmaceuticals where he raised more than $50 million in venture funding.

In January 2012, SGB completed a $17 million Series B financing led by Thomas, McNerney & Partners with participation from Finistere Ventures and current investors Flint Hills Resources, LLC and Life Technologies Corporation. With a crop improvement program focused on the development and deployment of elite hybrid varieties of Jatropha, SGB now has operations in the United States, Central America, Brazil and India and a global team of more than 70 employees focused on breeding, plant genomics, agronomy, seed production and corporate and business development.

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