CEO

Richard T. Penning

* *** **** *********, *******, IL 60614 . Home: 312-***-****

Cell: 310-***-****

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Multifaceted, innovative alternate energy industry executive with the

vision for the possibilities and the experience of the practical. Proven

record in a variety of key leadership positions, improving product line

performance and driving operational excellence in both professional /

technical services and manufacturing organizations. Experienced leader of

global operations and business innovation, delivering performance in

turnarounds, new business startups, organic growth and acquisitions.

Strategy Development Consistently sought out to lead development and delivery

of business strategies that grow profits through

improved quality, enhanced product positioning, and more

efficient operations. Strong communicator and

accomplished team builder.

Organizational Change Repeatedly selected to lead company-wide initiatives and

drive change through the organization. Change agent with

high personal credibility, clear vision of potential and

healthy respect for the achievable. Accomplished in

design and implementation of new systems, cultures, and

methodologies. Six Sigma Black Belt

Global Business Over 20 years of global experience with ventures,

Experience alliances, and customer relationships in Asia, Europe,

Middle East as well as North America.

Business Development Effective leader of marketing and business development

initiatives. Innovative in business model and technology

application creation. Winning combination of technical

understanding and business acumen has proven effective

in startups, acquisitions and alliances, and adjustments

to changing market conditions.

1 PROFESSIONAL EXPERIENCE

2 RTP Consulting

3 President 2010 - Present

Management consulting to the energy industry. Business strategy, fuels,

chemicals, and alternate energy industry experience. Intellectual property

and licensing expertise.

. Advisor to the C.E.O. of the National Institute of Clean, Low Carbon

Energy, China

> Strategy formulation

> Technology assessment and valuation

> Organizational and personnel development

4

5 Rentech, Inc. 2007-2010

Executive Vice President, Technology and Commercial Affairs

Appointed Executive Vice President of Commercial Affairs in January 2007and

assumed additional responsibility for Technology Development and

Engineering in August 2008. Responsible for all commercial activities

including project and product development, licensing as well as technology

development and engineering activities.

. Developed multi billion dollar alternate fuels project. Highlights

include:

> Secured 2.75 billion dollar industrial revenue bond inducement,

the largest ever granted in the state of Mississippi

> Negotiated and signed MOU for first of kind off take agreement

with 13 major airlines

> Negotiated the first CO2 off take agreement in the U. S. for a

synthetic fuels facility mitigating greenhouse gas emissions

. Conceived of and implemented renewable energy strategy resulting in

development of a $430 million renewable fuels project in California.

. Built global licensing business including alliances with industry

leaders, UOP and Jacobs Engineering.

. Secured sale of domestically produced synthetic fuels to the United

States Air Force

. Drove ASTM certification of first alternate jet fuel for commercial

aviation in the United States.

. Integrated acquisition of biomass technology into renewables business

and launched first pending sale.

. Actively recruited and hired staff and strategic Members for Board of

Directors

RTP Consulting

2005-2006

President

6 Consultant on fuels, energy, and chemical technologies.

7 Advised on licensing structure and business model to maximize return on

intellectual property.

. Targeted growth opportunities and formulated business models

. Identified new applications for existing technology and guided

technology developments to market needs

. Served on the Advisory Board of an engineering services company and

guided startups to achieve growth goals.

. Expert witness on technology and valuation

8 UOP, LLC, Des Plaines, Illinois 1977 - 2005

Leading billion dollar technology, professional services, and related

equipment and products provider to the refining and petrochemical

industries.

Vice President and General Manager, Ventures & Business Development (2004 -

2005)

Selected to reinvigorate growth activities for $1 billion corporation.

Reported to the CEO with P&L, cash (A/R, capital), corporate business

development and operational accountability for driving growth by

rationalizing and turning around current portfolio and filling the growth

pipeline. Served additionally as President of UOP Management Services and

Board Member of UOP India Private Limited.

. Turned around profitability of $50 MM/yr service business by focusing

offerings, driving efficiencies, and installing fundamental business

processes to elevate management effectiveness. Reduced fixed costs by

$14 MM in 6 months.

. Re-invigorated and re-launched technology licensing business,

leveraging existing technology and capabilities into new markets.

. Established company-wide growth process, leveraging resources across

SBUs and achieving a coordinated overall direction and methodology for

project identification and evaluation. Resulted in 2 new growth

opportunities from pilot program.

. Set business direction for new area investments in exploratory

research to develop future growth platforms.

. Discontinued unsuccessful combinatorial chemistry equipment and

services business, minimizing expense and preserving / redeploying

scarce resources.

Vice President, Six Sigma and Supply Chain (2002 - 2003)

Reported to the CEO in a newly created position with dual accountability

for (a) driving operational excellence company-wide and achieving

sustainable fixed cost reduction of $40 MM by leading work process

improvements and introducing new methodologies, as well as (b) providing

innovative leadership to the $400 MM company-wide procurement operations.

. Introduced rigorous project management process and financial metrics

that delivered the following in directly quantifiable benefits:

> Achieved cost savings of $13 MM

> Increased cash flow by $28 MM

> Grew revenues by $4 MM

. Championed new and sustainable work processes for forecasting,

planning, budgeting, staffing, and service delivery to insure ongoing

benefit from fixed cost reductions.

. Implemented new Sales, Inventory, and Operations Planning processes

for newly-formed catalyst SBU, realizing $7 MM reduction in inventory

and 50% improvement in forecast accuracy.

. First executive to achieve Six Sigma Black Belt certification.

Achieved target of 50% training of exempt staff.

. Achieved $10.5 MM in purchasing savings through data sharing,

consolidation and business partnering.

. Implemented commodity risk management, reducing purchase price risk by

$2 MM.

General Manager, Catalysts and Adsorbents (2001 - 2002)

Accountable for strategy, consolidation and growth of $300 million catalyst

and adsorbent business. Led a core team to address production decision

making, inventory, and capital management improving return on capital from

12% to 20%, and accelerating the commercialization of new materials &

products in existing and new markets.

. Implemented manufacturing and sales alliance with largest local

producer in China. Included design and license of new manufacturing

plant and achieved penetration of closed market (5% of world), $2.5 MM

in initial fees and $8-10 MM/yr in future revenues.

. Implemented inventory management process that reduced inventory by 14%

in 2001 with additional 14% in 2002. Reduced safety stocks by 40% and

met obsolescence and trial run expense targets.

. Reduced manufacturing fixed costs by 20% through site rationalization

and variable costs by 5% through improvement programs.

. Implemented revenue management and forecasting processes.

Director of Marketing & Business Development, Refining SBU (1996 - 2000)

Promoted to newly-created marketing function with $2 MM expense budget,

staff of 5, and accountability for developing business strategies, market

research, promotion, and leadership of $300 MM SBU. Selected and developed

staff and roles from scratch.

. Created a fuel processor business that was spun off as industry-

leading company.

. Led cross-functional team to identify growth opportunities and M&A

targets for catalyst business.

. Negotiated and executed acquisition of $2 MM/yr software business, as

well as a $10 MM/yr joint venture in software services.

. Developed merger plan in technical services to deliver $100 MM in

revenues.

. Led execution of promotional activities achieving enhanced brand

image. Recognized by Silver Quill award for Marketing Communications

from International Association of Business Communicators (1999).

Manager, Strategic Planning, Products Group (1994 - 1996)

Responsible for strategic plan development for $250 MM catalyst and

adsorbents business, while also selected to lead the reengineering of

several core business processes including the reorganization of the

Refining & Petrochemical Sales, Marketing, and Business areas.

. Designed and implemented new organization based on Rummler Brache

business process reengineering and survey of customers and employees.

Led reorganization of 300 employees, transforming the organization

from technology push to market pull.

. Designed new capital planning process that improved effectiveness of

capital planning and spending.

Marketing Manager, Hydroprocessing Catalysts Products Group (1990 - 1994)

Product Manager, Hydroprocessing Catalysts (1985 - 1990)

Process Development, Residual Oil Processing, Petrochemical Adsorption

Technology (1981 - 1985)

Group Leader, Residual Oil Processes, Experimental Development Department

(1979 - 1981)

Development Engineer, Experimental Development Department (1977 - 1979)

EDUCATION

The University of Chicago, The Graduate School of Business, Chicago,

Illinois

MBA (Finance), 1986

With concentrations in Marketing and International Business

Case Institute of Technology, Case Western Reserve University, Cleveland,

Ohio

BS Engineering (Chemical Engineering) with Honors, 1977

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