Game changing bio-based ingredients company increases executive leadership and adds an independent board member
BRYAN, TX – December 18, 2023 – BioVeritas, LLC, a bio-based ingredients company pioneering a proprietary upcycling process, today announced the appointment of Jeremy Smith as their chief financial officer and Jan Koninckx as the newest member of its board of directors. Smith joins the executive leadership team to further support BioVeritas’ ambitious growth plans and is expected to make an immediate impact leading a funding round for the company’s first commercial plant. Koninckx will bring his extensive expertise in business development, commercialization, and operations, coupled with deep technical knowledge in the chemicals industry, to bolster BioVeritas’ overall go-to-market strategy.
Smith comes with a wealth of corporate finance knowledge and leadership experience, most notably in fundraising and financial operations. He has more than 20 years of experience in capital raising and financial structuring, including 13 years at Anadarko Petroleum with leadership roles in corporate finance, corporate development, investor relations, and project finance. He has a strong track record of executing corporate and project financing, raising over $40 billion in proceeds from various transactions.
As a member of the board of directors, Koninckx will provide strategic guidance to the BioVeritas leadership team. He offers more than 30 years of relevant industry experience, with a decade playing a leading role in the development of DuPont’s industrial biotechnology business where he led DuPont’s BioFuels commercialization efforts from lab to full industrial scale. Koninckx has served as CEO and board member of Butamax, a DuPont / BP joint venture, and is currently on the board of CovationBio PDO, a bio-materials company formerly called DuPont Tate & Lyle LLC.
“Everything we do at BioVeritas is rooted in the ability to grow smart and fast, ensuring the rapid commercialization of our disruptive, bio-based process,” stated David Austgen, chief executive officer of BioVeritas. “As we start a new round of funding, it’s imperative that we have the best people on the team and both Jeremy and Jan bring the exact experience and expertise required to support our continued progress towards commercializing our revolutionary technology.”
BioVeritas, LLC, is a portfolio company of Ara Partners, a private equity firm specializing in industrial decarbonization investments.
About BioVeritas, LLC
BioVeritas, LLC, headquartered in Bryan, Texas, is a bio-based ingredients company that is commercializing a proprietary upcycling process. BioVeritas’ products have industry-leading efficacy and quality intended for innovative companies seeking natural solutions for food preservation, human and animal health, and industrial materials.
For more information on BioVeritas products, please visit www.bioveritas.com.
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Houston, and Dublin. As of June 30, 2023, Ara Partners had approximately $4.4 billion of assets under management.
For more information on Ara Partners, please visit www.arapartners.com.