OSLO, Norway, April 29, 2021 (Press Release) -Circa Group AS today announced that Trond Stangeby and Greg Court have formally joined its Board of Directors. Together, they hold significant experience from industry, executive management, corporate governance and public listings.
The appointments to the Board follow a resolution made by the EGM on 9 February 2021 to strengthen the Board following a listing on the Euronext Growth Oslo. The appointments were further detailed in the Information Document issued on 1 March 2021. Following the appointments, the Board will comprise of Lars P. S. Sperre (Chair), James A. Henneberry (Director), Gregory R. Court (Director), Rune Sollie (Director) and Trond Stangeby (Director). In aggregate, the Board holds approximately 8.4 million shares, representing approximately 7% of the shares outstanding. In addition, Lars Sperre and Rune Sollie represent Norske Skog, the largest shareholder, holding approximately 26% of the shares outstanding.
Trond Stangeby has previously held several management and executive positions in Norsk Hydro, Yara International and other Norwegian industrial companies. Furthermore, he held a Director position in Moelven Industrier until recently.
Greg Court is co-founder of Circa and has served as a Director of Circa Group Limited since 2005 and up until the re-organisation executed as part of the listing process in Oslo. He has over 30 years’ experience in the pulp and paper industry in Australia and the US, including positions like Executive General Manager (Australian Paper), General Manager Functional Coatings (Amcor) and senior strategy roles within Amcor.
“We are very pleased to bring Greg and Trond onto the Circa Board, providing relevant and useful experience and insight as we enter into the scale-up phase as a listed company. Greg is a co-founder of Circa and has been deeply involved with the company for the past 15 years. Trond holds experience from some of the largest Norwegian industrial companies and is familiar with the local industry and financial environment. We are fully focussed on delivering on our ambition of producing valuable biochemicals at scale, initially through the ReSolute project, and welcome both Greg and Trond to exciting years ahead”, said Tony Duncan, CEO and co-founder of Circa.
Established in 2006, Circa Group converts waste, non-food biomass into advanced bio-based chemicals with its proprietary Furacell process. Its developing product portfolio includes flavours, biopolymers, and bio-solvents including Cyrene, an alternative to traditional polar aprotic solvents, which is produced in one step from platform biomolecule Levoglucosenone. By creating renewable chemicals from cellulose, Circa is extracting value from non-food, waste biomass and addressing a gap in the market by providing bio-based alternatives contributing to a more circular economy.