Disruptive bio-based ingredients company finalizes executive leadership team and continues rapid advancement toward market penetration
BRYAN, TEXAS, UNITED STATES, January 9, 2023 /EINPresswire.com/ -- BioVeritas, the only company to pioneer a proprietary upcycling process for bio-based ingredients, today announced the expansion of the core leadership team with the strategic appointments of Pareen Shah as senior vice president of business development and Stephen Toon, PhD as senior vice president of operations and engineering. These new executives will focus on rapidly commercializing BioVeritas’ bio-based ingredient product lines, building a strong customer and partnerships base, and expanding engineering operations needed for quick market penetration. The appointments highlight BioVeritas’ commitment to creating a world where ingredients are produced naturally – with net zero emissions and without harmful petrochemicals.
“The world needs better, cleaner and more sustainable ingredients for every aspect of our lives, both for human and animal use, and we need to start now,” stated David Austgen, chief executive officer of BioVeritas. "Our process is leading the industry in eliminating harsh petrochemicals from the food supply chain, greatly elevating global decarbonization and making clean label ingredients an easy and affordable option for innovative food manufacturers. We have the technology and now also have the funding and capabilities to make this a reality, and the additions of Pareen and Stephen to the team will accelerate our ability to execute on our vision.”
Pareen Shah brings extensive commercial experience over the past two decades. Prior to joining BioVeritas, Shah held senior positions that include leading product management for Impossible Foods’ US retail and food service businesses, head of food for Corbion’s Algae Ingredients unit, and director of marketing for Del Monte Foods. While at Corbion he grew the distribution footprint of Thrive Culinary Algae Oil 400%+, driving massive market impact, in addition to managing a joint development agreement with one of the world’s largest food companies for the creation of an algae-based protein. At Del Monte he had P&L and marketing responsibility for three of the company’s five divisions. He also brings a strong brand-building orientation to the categories where BioVeritas operates, which are traditionally dominated by commodity-oriented producers.
Stephen Toon, Ph.D. brings more than three decades of bioprocess industry experience with a demonstrated record of 29 product commercialization successes led at stages from conception to full-scale production, including six greenfield plant start-ups. His background includes executive and principal technical leadership positions at companies such as Cargill, National Renewable Energy Laboratory, Verenium, Gevo and OPX Bio. Steve has a comprehensive approach to commercial process execution that integrates technology, team building, safety and sustainability founded in diverse product and process experiences to deliver cost-effective quality products to the marketplace. This deep capability will benefit BioVeritas by focusing the company on process design, technology transfer, operations execution, and commercial process implementation.
BioVeritas is a portfolio company of Ara Partners, a private equity firm specializing in industrial decarbonization investments.
For more information on BioVeritas’ solutions and service details, visit www.bioveritas.com
BioVeritas, 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, 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. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021. For more information on Ara Partners, please visit www.arapartners.com.