EnerPure Announces Search for Chief Executive Officer, Todd Habicht to assume role of Executive Chair

/EIN News/ -- Winnipeg, MB, Jan. 22, 2025 (GLOBE NEWSWIRE) -- EnerPure Inc. (“EnerPure” or the “Company”), a recycling and energy transition company, is announcing as part of the Company’s leadership succession plan, and natural evolution of the Company, that its founder Todd Habicht in conjunction with the Board of Directors has engaged Heidrick & Struggles (“H&S”), an international executive search firm, to identify and search for the Company’s next Chief Executive Officer (“CEO”).

“As we enter the commercialization and deployment phase of the Company’s evolution, we need to ensure we have the best people in place to deliver into the tremendous opportunity we have identified, in processing Used Motor Oil (“UMO”) into a marine fuel with a lower carbon intensity. I have thoroughly enjoyed my journey to date with EnerPure and I am excited to be working with management, EnerPure’s Board, and H&S to find EnerPure’s next CEO. I am confident that with the accomplishments to date and the enormous opportunity that lies ahead, EnerPure will be able to attract a talented CEO to lead the Company through the next era,” commented Todd Habicht, CEO and Founder.

“A mark of a true leader is knowing what is required when and being able to identify the right time to hand over the reins. Todd was proactive in approaching the Board about identifying the need for a new CEO, while remaining very much vested in its future success by stepping into the Executive Chair role. On behalf of the Board of Directors, and all stakeholders I would like to take the opportunity to thank Todd for his immense contributions and dedication as CEO,” noted Albert Krahn, Lead Independent Director.

As Executive Chair, Todd will continue to be actively involved with the Company he has so successfully founded and developed. Todd will continue in the role of CEO until his successor is brought on board, which is expected to be in the first half of 2025.

Doug Kroeker, President and Chief Operating Officer, who joined EnerPure in 2014, and Damian Towns, Chief Financial Officer and Corporate Secretary, who joined in 2023, will remain in their respective roles reporting to the new CEO.

About Heidrick & Struggles - www.heidrick.com
“Helping our clients change the world, one leadership team at a time”

Founded in Chicago, Illinois in 1953, Heidrick & Struggles launched as one of the world’s first executive search firms. Today, Heidrick & Struggles is consistently included in the Forbes list of the World’s Best Management Consulting Firms and is best known as a premier provider of executive search, on-demand talent and leadership consulting services. Having served over 70% of the Fortune 1000 and numerous early-stage ventures, the firm brings global expertise and networks, coupled with local presence and knowledge through its over 50 offices on 6 continents, to every engagement. Heidrick & Struggles’ data-driven advisory approach and extensive global network identifies critical talent solutions to achieve the highest levels of profitability and performance.

About EnerPure – https://enerpure.tech 
“We recycle Used Motor Oil (UMO) to reduce GHG emissions while producing a lower carbon-intensive marine fuel.”

With an estimated 17 billion litres of UMO¹ burned or dumped (~70% of total UMO) around the world each year, the improper disposal of UMO is a growing environmental and societal problem. EnerPure sees a tremendous opportunity to solve this problem through the deployment of its micro-scale recycling plants using its patented technology to convert UMO into high-quality marine fuel.

Our micro-scale recycling plants have a significantly lower capex (US$14.9 million, approximately 5% of traditional solutions) which provides localized solutions for the recycling of UMO while significantly reducing the cost of collection.

Our technology has been proven via our pilot plant with 1.6 million litres processed and validated through fuel sales of over 1.2 million litres. Our marine fuel is in high demand in this growing market due to meeting and exceeding the exacting requirements of the ISO 8217:2017 marine fuel standard while delivering a 14.6% lower carbon intensity. Annually each recycling plant can reduce greenhouse gas (“GHG”) and criteria air containments (“CAC”) by 36,315 and 437 tonnes respectively.

With EnerPure’s solution, environmental need meets strong economic returns to enable regional recycling of the disseminated UMO problem; we believe that recycling will fuel the energy transition.

¹UMO is defined as any petroleum-based or synthetic lubricating oil that cannot be used for its original purpose due to contamination.

For more information, please contact:

EnerPure Inc. ‎www.enerpure.tech news@enerpure.tech

Disclosure and Caution

This press release may contain certain disclosures that may constitute "forward-looking statements" within the meaning of Canadian securities legislation. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors, including but not limited to economic, capital expenditures and engineering projections, that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

 

Travis Toet