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The managing partners of Claeris bring more than 80 years of professional
experience to creating businesses focused on the development and
operation of environmentally-responsible production facilities.
They have compiled an unmatched track record of success, including
the world’s largest project financed ethanol development, a highly
successful MLP, and the world’s first commercial-scale renewable
chemical and advanced biofuels production facility. |
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David N. Black is a founder
and managing partner of Claeris Development, LP (“Claeris”),
a project development company based in Dallas, Texas focused
exclusively on the production of ultra-clean lubes, chemicals,
and fuels. Mr. Black, together with Michael Slaney, is a co-founder
of several successful platform companies in the cleantech
industry. Mr. Black is responsible for corporate development,
strategic planning, corporate finance and capital investment
at Claeris and has also performed these functions at each
of the platform companies. Mr. Black has over 25 years of
business and project development, consulting, and investment
banking experience, both as a principal and as an adviser.
Prior to entering industrial development in 2004, Mr. Black
was a partner with Deloitte & Touche for eight years and
served as the co-head of the national corporate finance management
consulting practice. At Deloitte, Mr. Black lead numerous
acquisition, divestiture, and capital raise assignments and
served on several national committees including strategic
planning, partner selection, and management training. Mr.
Black has extensive international experience across Mexico
and Latin America, Canada, China, Former Soviet Union, Western
Europe, Eastern and Central Europe. Mr. Black has worked with
the World Bank and the US Agency for International Development
to advise government agencies and officials on the restructuring
and capitalization process internationally.
Mr. Black was a chartered financial analyst, a certified
public accountant, and was registered with the NASD with series
7, 63, and 24 security licenses. Mr. Black received a Bachelor
of Science degree in finance from Arizona State University,
where he was an All-American collegiate swimmer, and completed
his Master of Business Administration at Southern Methodist
University.
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Michael A. Slaney is a
founder and managing partner of Claeris Development, LP (“Claeris”),
a project development company based in Dallas, Texas focused
exclusively on the production of ultra-clean lubes, chemicals,
and fuels. Mr. Slaney, together with David Black, is a co-founder
of several successful platform companies in the cleantech
industry. Mr. Slaney is responsible for transaction structuring,
corporate strategy, strategic partner alliances, and contract
negotiations at Claeris and has also performed these functions
at each of the platform companies. Mr. Slaney has over 25
years of business and project development, legal, and investment
banking experience.
Prior to entering industrial development in 2004, Mr. Slaney
was a partner in the mergers and acquisitions and corporate
finance sections of Akin Gump Strauss Hauer & Feld LLP,
one of the largest law firms in the world. Mr. Slaney has
managed all aspects of more than 55 completed transactions
valued in excess of $23 billion, and has participated in varying
degrees in more than 80 additional completed transactions.
Mr. Slaney has structured, negotiated, managed, and consummated
nearly every form of corporate transaction, including leveraged
and management buyouts, mergers-of-equals, tender offers,
leveraged recapitalizations, joint ventures, going private
acquisitions, PIPEs, and public offerings of debt and equity
securities. Prior to practicing law, Mr. Slaney was an analyst
in the capital markets group at the investment banking firm
of Kidder, Peabody & Co. and was an accountant in the
audit and tax groups at KPMG LLP, earning his Certified Public
Accountant designation in 1988.
Mr. Slaney received a Bachelor of Science degree in both
Accounting and Business Administration in 1986 from the University
of Kansas, where he served as the student body senior class
president. Mr. Slaney received his Jurist Doctorate, with
honors, from Indiana University in 1992.
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Jason S. Jones is an operating partner of
Claeris Development, LP (“Claeris”), a project development company,
and is based in Singapore focused exclusively on the production
of ultra-clean lubes, chemicals, and fuels. Mr. Jones is a founder
of several successful private equity and operational services
companies in Asia and is responsible for technology sourcing,
corporate development and project development in Southeast Asia
on behalf of Claeris. Mr. Jones has over 25 years of corporate
and project development, investment and deal structuring experience,
both as an owner and operator.
Prior to entering private equity
and industrial development in 2005, Mr. Jones was a global
supply chain and operations executive with GE for over 14
years, which included full P&L responsibility as a president
& general manager. In addition, Mr. Jones was director
of corporate initiatives and product development for Motorola.
Having significant leadership experience and proven track
record across industrial equipment, power generation, oil
& gas, renewables and technology segments, Mr. Jones has
also demonstrated ability to identify, recruit and develop
talent into strong management teams with extensive Asia Pacific
operating experience, including mainland China and Southeast
Asia since 1995.
Mr. Jones received a Bachelor of Science degree, with honors,
from Texas A&M University’s College of Engineering. He
was also a graduate of General Electric’s Technical Leadership
(TLP) and Corporate Audit Staff (CAS) leadership development
programs.
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ASAB was formed in 2005 by the predecessor entity to Claeris (also founded by Messrs. Black and Slaney) to develop, construct, and operate three large-scale ethanol production facilities with an aggregate production capacity of more than 330 million gallons per year. ASAB was initially capitalized with $432 million in February 2006 (Mr. Davis was engaged by ASAB as a financial advisor in this transaction) and was sold to Verasun Energy Corporation (“VSE”) for $725 million in August 2007. The initial capitalization of ASAB was awarded the Project Finance Institute 2006 Environmental Deal-of-the-Year and remains the largest project financing ever consummated in the ethanol industry. In addition, the sale of ASAB to VSE represents the largest M&A transaction ever consummated in the ethanol industry.
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In eighteen months the ASAB investment realized:
• Invested equity IRR of: 410%
• Committed common equity IRR of: 270% |
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| Messrs, Black and Slaney were responsible for all aspects of the formation, strategic partner alliances, and capitalization of ASAB, together with all aspects of site selection and development, construction, and operation of the ethanol facilities. Post financial closing, Messrs. Black and Slaney (i) served as the interim CEO and COO of ASAB, (ii) They have compiled an unmatched track record of success, including the world’s largest project financed ethanol development, a highly successful publicly-traded MLP, and the world’s first commercial-scale renewable chemical and advanced biofuels production facility. (iii) led the development efforts for three additional facilities, (iv) helped establish financial reporting systems and senior lending compliance, (v) assembled a world-class management team, (vi) maintained the alliance relationship with our strategic partner Cargill, (vii) completed the registration statement on Form S-1 filed with the SEC, and (viii) assisted in the sale to Verasun. |
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Gevo Development was formed in 2009 by the predacessor entity to Claeris (also founded by Messrs, Black and Slaney) and Gevo, Inc. to commercialize Gevo’s proprietary technology to produce isobutanol based on retrofitting existing ethanol plants. Gevo Development successfully assembled a fleet of ethanol production assets with more than 300 million gallons per year of production capacity and raised the debt financing necessary to fund the first retrofit project. In large part to Gevo Development’s success, Gevo consummated an initial public offering of its common stock in February 2011, raising over $120 million with a market capitalization over $400 million. |
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In seventeen months, from the formation of Gevo Development to the IPO, Gevo realized an:
• Common equity value increase of: 460%
• Total equity value increase of: 330% |
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| Messrs. Black and Slaney served on the initial board of directors and were the managing directors of Gevo Development becoming Executive Vice Presidents of Gevo prior to the IPO. They were responsible for strategy, corporate development, capital formation, and all transactions executed by Gevo Development. |
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Claeris Development was formed in 2012 by Messrs, Black and Slaney
to build an industry-transforming company focused exclusively on developing
and operating industrial facilities for the production of ultra-clean
lubes, chemicals, and fuels from environmentally-responsible sources
such as natural gas and other carbonaceous feedstocks. Messrs. Black,
Davis, and Slaney are board members and serve as the managing partners
of Claeris responsible for all development and operational functions
of the business. |
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| Solusyn was formed in 2014 by Claeris and Emerging Fuels Technology
to develop, construct, and operate a series of natural gas/ethane-to-specialty
products (e.g. ultra-clean lubes, drilling fluids, and solvents).
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Leaf Development, LLC (“Leaf”) was formed in 2016 by Claeris and Leaf
Resources Limited. to develop, construct, and operate a series of
residual biomass to high value specialty chemical facilities.
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Vertoil Holdings, LLC ("Vertoil") was formed in 2019 by Claeris and Modern Fuels, LLC. to develop, construct, and operate for used industrial and motor lubricating oil (waste oil) into clean marine fuel.
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