HR Biopetroleum Changes Name and CEO
HR Biopetroleum Inc. (HRBP), an algae fuel company, has changed its name to Cellana Inc. and has appointed Martin Sabarsky as its new CEO.
HR Biopetroleum and Royal Dutch Shell PLC formed the joint venture called Cellana in 2007 to build and operate a demonstration facility to grow marine algae and produce vegetable oil for conversion into biofuel. In January 2011, HRBP bought Shell’s stake and became the sole owner of Cellana.
Sabarsky, Cellana’s new CEO, has previously served as chief financial officer and chief operating officer of HRBP. Former CEO Ed Shonsey, will remain as a member in the board of directors.