Mr Binninger was appointed as interim CEO in July 2007 and has served on the board of the company and its predecessor, Kreido Laboratories, since 2004. He has hands-on experience leading technologically sophisticated global process and service businesses up to $1 billion with Atlantic Richfield Company, Rio Tinto Borax, Exxon and Hercules.

Betsy Knapp, chairman of Kreido Biofuels, said: During the course of Ben’s involvement with Kreido, he has provided an extraordinary range of experience in the fuels and chemicals industries.