Licella announce senior leadership changes to support global commercialisation

• Current CEO and Co-Founder, Dr Len Humphreys, appointed Executive Chairman
• Mr Alan Nicholl, current Managing Director and former Arbios Biotech CEO, to assume role of CEO
• Additional Board and senior leadership appointments to support rapid commercial growth phase.

Australia, Sydney – August 16, 2023. Licella Holdings Limited (Licella, the Company) today announced changes to strengthen and expand its senior leadership team and Board, as it focuses on the Global commercialisation of its pioneering Catalytic Hydrothermal Reactor (Cat-HTR™) advanced recycling technology.

Leadership Transition – Dr Len Humphreys as Executive Chairman, Alan Nicholl as CEO

After 16 years as Chief Executive Officer (CEO) of Licella, Dr Len Humphreys, who is also company Co-Founder and Co-Inventor of the Cat-HTR™ platform, will move to the role of Executive Chairman. Alan Nicholl, who is currently Managing Director (MD) of Licella, will assume the role of CEO, effective from 1 September 2023. Mr Nicholl joined Licella in April 2022 and recently vacated his position of President and CEO of Arbios Biotech, Licella’s joint venture with Canfor, one of the world’s largest forestry producers.

Alongside his new role as Executive Chairman, Dr Humphreys will drive pre-commercial technology innovation for Licella, including advanced biofuels and the development of high-value biomaterial product applications.

In welcoming the changes, Dr Humphreys said they marked a watershed moment for the Company. “We have seen the interest in our Cat-HTR platform surge in the last 18 months, and this reflects the significant technological advances Licella have made.”

“I’m delighted to step into the role of Executive Chairman at a time when both the Arbios plant in Canada and Mura plant in the UK are approaching construction completion, while welcoming Alan to take the lead on the commercial strategy.”

“Alan and I will continue to work together closely to capitalize on this extraordinary opportunity for Licella,” explained Dr Humphreys.

Mr Nicholl added that the new structure allowed Licella to fully realise the immense market opportunities for its technology. “As the world drives towards net zero carbon, we continue to be excited about the unprecedented opportunity for our proprietary Cat-HTR platform to deliver global impact particularly for bio-based product applications producing such upgraded products as sustainable aviation fuel (SAF).”

The Company continues to progress planning for the first of what it expects will be several advanced recycling plants in ANZ, at Altona, Victoria. The Company has also developed a high-quality, stable biocrude from post-consumer biomass which lends itself via upgrading to high-value and sought-after renewable transportation fuel and biochemical applications.

Board Changes

Licella is also pleased to announce the appointment of Don DeFosset to its Board as a Non-Executive Director. Mr DeFosset is a seasoned executive who also currently serves on the Executive Board of ATL Partners/MidOcean Partners, a New York based private equity firm focused on the aviation and transportation industries, as well as ITT Corporation and Terex Corporation, both publicly traded companies.

As Dr Humphreys steps into the role of Executive Chairman, the Company would like to acknowledge the continued and valuable contribution of outgoing Chairman, Larry Ciccarelli, who joined Licella in 2010. Mr Ciccarelli has played a pivotal role over the past 13 years in Licella’s growth journey, and the Company extends its gratitude for his service.

Strengthening the Executive Team

In addition, the Company is happy to share the appointment of Victoria Sherwood into the newly created role of Executive General Manager – Asia & Australasia. Ms Sherwood brings a wealth of experience in senior leadership roles across engineering and manufacturing based companies, most recently at iQ Renew and Boral, that will be essential for Licella to commercialise its Cat-HTR™ platform for plastic and biomass across this key region.

Victoria’s appointment follows the appointment of Richard Pillinger to the role of Chief Financial Officer (CFO) earlier this year. Mr Pillinger is a highly experienced finance professional and has held CFO positions within Australian and US publicly listed companies over the past 15 years.

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