Alder Renewables appoint CEO Obitts, Dr. Kravchenko on company board

Alder Renewables on Monday appointed chief executive officer Tim Obitts and former Boeing vice president Dr. Sergey V. Kravchenko as board members, the company said in a press release.  

The two new members join current board appointees Ray Mabus and Xavier Adserà.

“Throughout 2023, under Tim’s leadership, the Alder Renewables team has put in place the governance structure and financial strategy that bends the curve from start-up to scale-up … We are ready to take this proven technology to market, and bringing Dr. Sergey onboard is an integral part of that vision,” said Xavier Adsera.

Commenting on the membership of Dr. Sergey on the board, CEO Obitts said that “I am delighted to welcome such a respected and world-leading aviation leader to the Alder Renewables Board. As we embark on our commercialization journey, Sergey’s depth of experience will be priceless.”

Dr. Sergey has over 30 years of experience at Boeing in areas including engineering, aviation services, airport technologies, global talent and innovation, and international strategies. He has actively participated in the development of fuel-efficient and environmentally friendly airplanes 777 and 787 commercial aircraft at Boeing.

Alder Renewables is working on the technology to utilise biomass power to create a low-carbon to carbon-negative renewable platform, called the Alder Renewable Crude (ARC). The ARC can be converted into sustainable aviation fuel (SAF), low-carbon marine and transport fuels, and bio-based chemicals.