Hong Kong, 15 January 2025 - EcoCeres Inc., a leading pure-play renewable fuel producer, today announced a significant leadership transition, effective 15 January 2025.

Mr. Matti Lievonen, with a distinguished background in leadership and strategic vision, will assume the role of Chief Executive Officer of the Group at EcoCeres. His previous position as Executive Chairman will be restructured to Director, where he will continue to provide valuable insights and guidance to the company's Board of Directors.

As part of this transition, current CEO Mr. James Ni will be departing from the company. EcoCeres extends its gratitude to Mr. Ni for his contributions and wishes him success in his future endeavors. Additionally, effective January 14, 2025, Mr. Philip Siu will retire from his role as Vice-Chairman and Director of the company's Board of Directors. EcoCeres acknowledges Mr. Siu's dedication and service to the company and wishes him a fulfilling retirement.

In light of these changes, EcoCeres is pleased to announce the appointment of Mr. Alan Chan and Mr. James Tam as Co-Chairmen of the Board of Directors. Mr. Chan and Mr. Tam will represent the company's major shareholders, Towngas and Bain Capital, respectively. Their wealth of experience and strategic insights will further strengthen EcoCeres' governance and strategic direction.

In their new roles as Co-Chairmen of the Board, Mr. Alan Chan and Mr. James Tam will work closely with Mr. Lievonen and the executive team to provide guidance and strategic oversight as EcoCeres continues to innovate and expand its impact in the industry.

"I would like to extend my heartfelt thanks to Philip and James (Ni) for their dedication and leadership. As we embark on this new leadership structure, I look forward to working with Matti, Alan and James (Tam). Together, we shall elevate EcoCeres to new heights of success," Remarked Dr. Peter Lee Ka-kit, Chairman of Towngas.

"On behalf of EcoCeres, I want to thank Philip and James (Ni) for their invaluable contributions to the company. Looking ahead, we are eager to work alongside Matti, Alan and James (Tam) in our new leadership framework to achieve our goals and enhance our impact as a strong player in the industry," echoed by Jonathan Zhu, Partner of Bain Capital and Director of EcoCeres.

Matti expressed that "EcoCeres is one of the most exciting players in the renewable fuels industry globally. In the two years I have been with the Company as Director then Executive Chairman, I have felt the passion and dedication of our EcoCeres team in creating great wonders together. I look forward to working with Alan and James (Tam) in their Co-Chairmen capacity to build this Company to greater success.".

The entire EcoCeres team is excited about the future under this new leadership structure and remains committed to advancing the company's mission of creating a more sustainable world for future generations.

About EcoCeres

EcoCeres is a pure-play renewable fuel producer, with over a decade of experience in biomass utilisation, incubated by Towngas and backed by international investors Bain Capital and Kerogen Capital. Founded with a mission to address the challenges of climate change, EcoCeres has earned a reputation as a global innovator in the conversion of waste into renewable fuels, renewable chemicals and materials. As an ISCC-certified decarbonisation solution provider, the company produces industrial scale sustainable aviation fuel (SAF), hydrotreated vegetable oil (HVO), renewable naphtha and cellulosic ethanol (CE) through its proprietary processes.

For more information about EcoCeres, please visit https://www.ecoceres.com/ and follow us at linkedin.com/company/ecoceres-inc/.