Executive Officers

Jonathan M. Silver, 63
Chief Executive Officer and Chairman

Mr. Silver is one of the nation’s known clean economy investors and advisors. He led the Loan Program Office at the U.S. Department of Energy, the federal government’s $40 billion clean energy investment fund, during the Obama administration. That fund, which underwrote and invested in a wide range of technologies, including, solar, wind, geothermal, biofuels and nuclear power and advanced automotive technology, was, and remains today, the largest fund of its kind in the world. Many of these investments were first-of-a-kind transactions. As an example, the fund provided the first debt capital to Tesla. Several transactions were named Deal of the Year by leading trade publications, and one was named Deal of the Decade. Mr. Silver is currently a Senior Advisor at Guggenheim Securities, where he has worked with a number of clean economy companies. Mr. Silver is a member of the boards of National Grid (NYSE: NGG), one the world’s largest publicly owned utilities, and Plug Power (NASDAQ: PLUG), one of the country’s leading hydrogen fuel cell manufacturers. He also sits on several private clean-tech company boards in water management and sustainable packaging. He has served as a senior advisor to numerous clean-tech and clean energy companies, including NextEra, one of the largest U.S. energy companies, and ICF, a leading energy technology consulting firm. Previously, Mr. Silver served as senior policy advisor to the U.S. Secretaries of Commerce and Interior during the Clinton administration. Earlier in his career, Mr. Silver was Managing Partner of Core Capital Partners, a top-tier venture capital firm, and was a Managing Director, and the Chief Operating Officer, of Tiger Management, then one of the largest hedge funds in the world. He began his business career in the financial institutions practice at McKinsey & Company. Mr. Silver is, or has been, on numerous non-profit boards, including several industry-relevant organizations, including Resources for the Future, the Federation of American Scientists and American Forests, the nation’s oldest forest conservation organization, where he served as Chairman. For several years, Mr. Silver taught the second-year MBA course on entrepreneurship at the business school at Georgetown University. Mr. Silver is a graduate of Harvard University and did graduate work at the Institute for Political Studies in Paris and the Graduate Institute of International Affairs in Geneva, while on Rotary and Fulbright Fellowships, respectively.

Michael W. Allman, 60
Chief Financial Officer and Director

Mr. Allman has over 20 years of experience in the energy, sustainability, and technology industries in the United States and internationally. Mr. Allman spent 14 years as an executive with Sempra Energy in a number of senior management roles, including chief strategy and development officer, head of mergers and acquisitions, Chief Audit Executive and Chief Financial Officer of Sempra Energy’s global business operations. As the President and Chief Executive Officer of Sempra Generation, Mr. Allman developed and executed a business plan focusing on renewable power and created a multi-billion dollar renewable energy business in less than four years. He pioneered the utility-scale solar market by developing and building the first large utility-connected solar photovoltaic power plants in the world, helping launch an industry that has since attracted substantial interest and investments. Sempra Generation also developed the first major installation of battery storage connected to renewable power production, thereby allowing for increased renewable energy penetration in local power markets. In 2010, Mr. Allman became Chairman, President, and Chief Executive Officer of the Southern California Gas Company, the largest natural gas distribution company in the country that serves over 20 million consumers. As Chief Executive Officer, he achieved record profits, improved safety performance and launched initiatives to integrate biogas and other renewable gas into the natural gas grid. In 2012, Mr. Allman became an investor and entrepreneur in the energy and technology sectors. He was an early investor and advisor to Stem, Inc., a battery storage and artificial intelligence software company acquired by Star Peak Energy in April 2021. In 2015, Mr. Allman became the President of Bit Stew Systems, a start-up company building a software platform for data analysis and analytics for large industrial systems in support of the “Industrial Internet of Things.” Mr. Allman led the sale of Bit Stew to GE in November 2016 in what the Canadian Venture Capital & Private Equity Association named the venture capital “Deal of the Year”. Mr. Allman currently serves as the Chairman of H2scan, a leading provider of hydrogen detection and measurement solutions to support the burgeoning hydrogen economy. He also serves on other corporate boards in the software, artificial intelligence, and asset management industries, with a focus on the intersection of technology with clean-tech and energy. For nearly a decade before joining Sempra Energy, Mr. Allman was a management consultant with LEK Consulting, working globally in Chicago, Johannesburg, London, and Los Angeles. Mr. Allman received an MBA with a Finance specialization from The University of Chicago Booth School of Business, and a Bachelor of Science in Engineering from Michigan State University.

Arun Majumdar, 58
Chief Technology Officer, Secretary and Director

Dr. Majumdar has been the Jay Precourt Provostial Chair Professor at Stanford University since August 2014 and a Senior Fellow, and the former Director of the Stanford Precourt Institute for Energy since September 2015. Since December 2019, he has been a member of the advisory committee helping Stanford University launch a new School of Climate and Sustainability and Dr. Majumdar currently serves as the Chair of the Advisory Board for Secretary of Energy (SEAB), Jennifer Granholm. In October 2009, Dr. Majumdar was nominated by President Obama and confirmed by the United States Senate as the Founding Director of the Advanced Research Projects Agency-Energy (“ARPA-E”), where he served until June 2012. Under Dr. Majumdar’s leadership, ARPA-E became one of the largest investors in clean energy technologies. During his tenure, the agency made early investments in such technologies as renewable power, zero-carbon fuels, storage, grid management, biotechnology in energy and agriculture, and energy efficiency. In 2010, Dr. Majumdar created and launched the U.S. Department of Energy’s Sunshot initiative, with the goal of reducing the nation’s cost of solar electricity below that of electricity from natural gas by 2020, a milestone that was met in 2017. Between March 2011 and June 2012, Dr. Majumdar also served as the Acting Undersecretary of Energy and a Senior Advisor to the Secretary of Energy, Dr. Steven Chu. There, Dr. Majumdar’s work focused on the innovation value chain, from research and development to deployment and involved markets, policy and finance. Between 2012 and 2014, Dr. Majumdar was the Vice President—Energy at Google Inc., where he led multiple projects focused on the nation’s grid system. From June 2014 to January 2017, Dr. Majumdar also served as the Vice Chair of the Advisory Board for Secretary of Energy, Dr. Ernest Moniz, advising him on numerous efforts within the U.S. Department of Energy and on the global energy landscape. Dr. Majumdar is, or has been, on the advisory boards of numerous companies and clean energy focused investment firms, including Breakthrough Energy Ventures and Lime Rock New Energy, as well as the advisory boards or boards of non-profit organizations, including the Bezos Earth Fund and the Electric Power Research Institute (“EPRI”). Prior to joining the U.S. Department of Energy in October 2009, Dr. Majumdar was the Almy & Agnes Maynard Chair Professor of Mechanical Engineering and Materials Science & Engineering at the University of California—Berkeley from 1997 to 2009 and the Associate Laboratory Director for energy and environment at Lawrence Berkeley National Laboratory from 2007 to 2009. He also spent the early part of his professional career from 1989 to 1996 at Arizona State University and University of California, Santa Barbara. Dr. Majumdar received his bachelor’s degree in Mechanical Engineering at the Indian Institute of Technology, Bombay in 1985 and his Ph.D. from the University of California, Berkeley in 1989. He is also an elected member of the U.S. National Academy of Sciences, the U.S. National Academy of Engineering, and the American Academy of Arts and Sciences.

Board of Directors

John Larkin, 61
Director Nominee

Mr. Larkin currently serves as the Head of Impact Investments at Avenue Capital Group, where he is responsible for the direction of the Avenue Sustainable Solutions Strategy, serving on its investment committee as well as sourcing key relationships and advising on investment opportunities. He also currently holds a seat on Avenue Capital Group’s Management Committee. Prior to the creation of the Avenue Sustainable Solutions Strategy in 2017, Mr. Larkin served Avenue Capital Group as a Senior Managing Director in various roles, beginning in 2010. From 2005 to 2009, Mr. Larkin was Head of Alternative Investments—Americas at Deutsche Bank where he managed the private asset platform that included private equity, hedge funds and real estate investments. While at Deutsche Bank, he served as a board member to various investment funds with fiduciary oversight and as a speaker on the topic of climate change. Previously, Mr. Larkin held leadership roles with HFR Asset Management, Citigroup and Merrill Lynch, where he was Head of the Private Investments Group from 2000 to 2002. Mr. Larkin has also served on the boards of Cogent Energy Systems, North American Biofuels Co. and has served as senior advisor to Amelio Solar. These firms focused on innovative technology in the cleantech sector, where he has been an avid personal investor and spokesman for the past 18 years. Mr. Larkin is a retired Navy Commander/Aviator and holds a B.S. in Mechanical Engineering from the New Jersey Institute of Technology (1984).

Ron Gonen, 46
Director Nominee

Mr. Gonen is the Founder and Chief Executive Officer of Closed Loop Partners, a New York-based investment firm founded in January 2014, which manages venture capital, growth equity, private equity, project finance funds and an innovation center all focused on building the circular economy. From 2012 to 2014, Mr. Gonen was the Deputy Commissioner of Sanitation, Recycling and Sustainability for New York City. He oversaw the collection and processing of NYC’s paper, metal, glass, plastic, textile waste, electronic waste, organics, and hazardous waste and played an important role in creating policy around recycling. In 2013, the National Resources Defense Council (“NRDC”) and Earth Day New York named Mr. Gonen the Public Official of the Year in New York City. Previously, from 2004 to 2010, Mr. Gonen was the CEO of Recycle Bank, an early mover in sustainable business. The company was named Public/Private Partnership of the Year by the U.S. conference of Mayors, a Technology Pioneer by the World Economic Forum and the Wall Street Journal’s #1 Venture Backed Cleantech Company of The Year. During his career, Mr. Gonen has been recognized with a number of business and environmental awards, including recognition as a “Champion of the Earth” by the United Nations Environment Program, the highest distinction for environmental protection given by the United Nations. In 2021, Mr. Gonen published The Waste Free World: How the Circular Economy Will Take Less, Make More, and Save the Planet, (Penguin Random House), highlighting how companies that utilize circular economy business models will generate the most value and lead their industries. Mr. Gonen received his MBA from Columbia Business School and served as an Adjunct Professor there from 2010 to 2018.

Paula Rosput Reynolds, 64
Director Nominee

Ms. Reynolds is currently Chairman of the Board of National Grid Group plc, where she has served since January 2021, and a board member of BP plc since 2015 and General Electric Co. since 2018. From 2006 to 2008, Ms. Reynolds served as the Chairman, President and Chief Executive Officer of Safeco Corporation, a Fortune 500 insurer that was acquired by Liberty Mutual Insurance Group in 2008. Upon the sale of Safeco, Ms. Reynolds served as Vice-Chairman and Chief Restructuring Officer at American International Group (“AIG”) from 2008 to 2009. Ms. Reynolds also served as Chairman, President and Chief Executive Officer of AGL Resources, a Fortune 1000 energy services holding company that was later acquired by Southern Company. Earlier in her career, Ms. Reynolds was an executive at Duke Energy Corporation and PG&E Corp. Ms. Reynolds has also served as a director of CBRE, Inc., Delta Airlines, Inc., TransCanada Corporation, Anadarko Petroleum Corporation, Coca-Cola Enterprises, Inc. and Air Products and Chemicals Inc. Ms. Reynolds is a recipient of the National Lifetime Achievement Award from the National Association of Corporate Directors. Ms. Reynolds graduated from Wellesley College.

Ray Rothrock, 66
Director Nominee

Mr. Rothrock is the founder of FiftySix Investments LLC, a seed stage investment fund founded in June 2020 that focuses on cyber, energy and sustainability. Mr. Rothrock also currently serves on the boards of Roku, Inc. (NASDAQ: ROKU) and Check Point Software Technology (NASDAQ: CHKP), as well as several other private companies, including Team8, Titaniam Labs, and TAE Technologies, a clean fusion energy company. Mr. Rothrock is also Executive Chairman of RedSeal, Inc. an enterprise cyber security company. Prior to founding FiftySix Investments LLC, Mr. Rothrock served from 2016 to 2020 as a member of Glilot Capital Partners’ Board of Experts, a venture capital firm focused on scaling enterprise software startups. From 1988 to 2013, Mr. Rothrock was a senior partner at Venrock, an early-stage tech investment partnership founded by the Rockefeller family. During his 25-year career at Venrock, Mr. Rothrock invested in over 50 early-stage technology companies, led the firm’s Internet and energy investment programs and was a member of the management committee. From 2012 to 2013, Mr. Rothrock also served as Chairman of the National Venture Capital Association. Earlier, Mr. Rothrock served on the Board of Trustees of the Texas A&M Foundation and chaired its Investment Committee. Mr. Rothrock has a Bachelor of Science degree from Texas A&M University, a Master of Science in Nuclear Engineering from Massachusetts Institute of Technology, and an MBA from Harvard Business School.

M. Rhem Wooten Jr., 62
Director Nominee

Mr. Wooten has been a Partner and the Chair of the Sustainability Committee at SER Capital Partners, a middle market private investment firm dedicated to North American industrial sustainability, since October 2019. From October 2010 to April 2018, Mr. Wooten worked for Hannon Armstrong Sustainable Infrastructure (NYSE: HASI), where he served in several senior management positions, including Executive Vice President and President of HASI Partners. HASI became the first U.S. public company solely dedicated to investments in climate solutions following its initial public offering in 2013. Mr. Wooten also served on the board of directors of Anaergia for two-and-a-half years leading up to its initial public offering in mid-2021. Mr. Wooten was the President of Allied Syngas Corporation from 2004 to 2010. Previously, Mr. Wooten was the President and Chief Executive Officer of Pradium, Inc., an electronic grain exchange sponsored by Cargill, Louis Dreyfus, ADM, Cenex Harvest States, DuPont and Crosspoint Venture Partners. Early in his career, Mr. Wooten served as President of Duke Energy Corporation’s independent power unit for eight years, and as Managing Director of Origination and Operations for Duke/Louis Dreyfus. Mr. Wooten was the President of Merchant Energy Group from 1997 to 2000. Mr. Wooten received a B.S. in business administration from the UNC Kenan-Flagler Business School.