Redcar-based EnviroTech Nova Pangaea Technologies has appointed experienced energy executive Stewart Stewart as its new CEO.
Stewart brings more than 30 years of experience commercialising breakthrough low-carbon technologies and scaling venture-backed businesses across the UK and the US.
In his new role, he will lead the business through its next phase of growth, including the development of its first commercial-scale plant, as the company works to decarbonise the aviation sector.
The firm, which was founded in 2008, is behind a novel process for producing sustainable aviation fuel from waste biomass.
The appointment comes as the business continues its work on Project Speedbird – a UK government-backed initiative focused on producing sustainable aviation fuel (SAF) domestically.
The company is collaborating on the project with LanzaJet and International Airlines Group, which is the parent company of British Airways.
Originally from Texas, Stewart joins Nova Pangaea from New York-based investment bank Javelin Capital, where he advised clients on green fuel and energy transition opportunities.
He has previously held senior leadership roles at companies including BayoTech and Concord Blue Energy in Los Angeles, and served as a senior advisor to Ikigai Energy in London, supporting UK infrastructure owners with decarbonisation strategies.
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Across his career, Stewart has helped raise more than £150 million in equity and project finance for energy and low-carbon technology ventures.
“Nova Pangaea has developed a truly differentiated platform to convert biomass into sustainable fuels at scale,” he said.
“I’m excited to work with the team and our strategic partners to accelerate commercialisation, develop projects in the UK and globally, and build a world-class company, delivering both climate impact and long-term value.”
Nova Pangaea’s proprietary REFNOVA technology aims to convert agricultural residues and woody biomass, such as wheat straw and wood chips, into bioethanol, which can then be upgraded into SAF.
The company currently operates a demonstration facility at its headquarters at Wilton International in Tees Valley and plans to deploy the technology at four production plants across the UK under Project Speedbird.
It also intends to license the technology internationally.
To date, the firm has raised more than £21m from investors including IAG, PXN Ventures, Mercia Ventures and the first Northern Powerhouse Investment Fund, alongside £7m in grant funding.
The Rt Hon Anna Turley MP, Member of Parliament for Redcar, added: “Nova Pangaea Technologies is something we can be genuinely proud of here in Redcar & Cleveland.
It’s a forward-looking business doing important work on low-carbon technologies, including projects with real carbon-capture benefits, while creating skilled jobs and investment locally.
“Wilton is a hugely important site for our area and for the country. It has the infrastructure, skills, and industrial heritage needed to lead the next generation of cleaner industry, and companies like Nova Pangaea show exactly what that future can look like.
“I welcome the appointment of the new CEO and wish them every success as the company moves into its next chapter.”