Xg Sciences Inc
Officers & Directors
Philip L. Rose, Ph.D.
Dr. Rose joined the Company in January 2014 and currently serves as our Chief
Executive Officer, President, Secretary, Treasurer and is a Director of the Company.
Dr. Rose has extensive international business management experience in the electronic
and specialty materials markets. Prior to joining XG Sciences, he spent 4 years
as President of SAFC Hitech, a $100 million division of Sigma-Aldrich that makes
precursors and performance materials for the LED, energy and display, and semiconductor
markets. He also served concurrently for a period of time as CEO of Soulbrain-Sigma
Aldrich based in South Korea and as an independent Director for Pixtronix, a company
based in the Boston area. Before joining Sigma Aldrich, Dr. Rose spent almost
20 years with Rohm and Haas in various leadership positions in the semiconductor
and flat panel display industries that include general management, mergers and
acquisitions, business development and marketing. Dr. Rose has 7 years of experience
living in Japan and South Korea and has travelled extensively in Asia over the
past 15 years. Dr. Rose earned his Ph.D. in Physical Chemistry from Duke University
and holds a B.S. in Chemistry from the University of Southern California and a
certificate in Business Management from The Wharton School at the University of
Pennsylvania. In light of the aforementioned experience qualifications, attributes
and skills, we believe Dr. Rose is qualified to serve as a director.
Arnold A. Allemang
Mr. Allemang has served as a Director of XG Sciences since March 2010 and Chairman
of the Board since January 2016. Mr. Allemang was employed by Dow, headquartered
in Midland, Michigan for 43 years. Mr. Allemang joined Dow in 1965 in Freeport,
Texas. After five years in the Solvents Development Lab, he transferred to Stade,
Germany. In 1972, he returned to the United States for various technical and managerial
assignments. Mr. Allemang was named unit manager for Freeport’s Chlorinated
Ethanes in 1981, and two years later assumed the same role for Light Hydrocarbons
and Acetylene. He transferred to Terneuzen, The Netherlands, in 1984 to become
production manager for Light Hydrocarbons I, and in 1986 became responsible for
process control and engineering functions. In 1988, he returned to Freeport to
manage the site’s hydrocarbons production, and moved to Midland in 1989
as Director of Technology Centers. Mr. Allemang was named Manufacturing General
Manager for Dow Benelux in 1992, and in early 1993 was named regional vice president,
Manufacturing and Administration, Dow Benelux. He was named vice president, Manufacturing
Operations Dow Europe in late 1993. In August 1995, Mr. Allemang was named vice
president, Operations, which included global manufacturing and engineering activities.
He then became executive vice president of Dow in 2000, and was named senior advisor
in 2004. In March 2008, he retired as a Dow employee Mr. Allemang was elected
to the Dow Board of Directors in July 1996 and served until May 2015. Mr. Allemang
received a bachelor’s degree in chemistry from Sam Houston State University
in Huntsville, Texas. In light of the aforementioned experience qualifications,
attributes and skills, we believe Mr. Allemang is qualified to serve as a director.
Ravi Shanker, Ph.D.
Dr. Shanker has served as a Director of XG Sciences since March 2014. Since 1991,
Dr. Shanker has been employed by Dow in various capacities. Dr. Shanker is currently
the General Manager of the Lightweighting Platform, a position he has held since
March 2015. From March 2013 until March 2015, Dr. Shanker was the Global Business
Advisor at Dow. In this role, Dr. Shanker provided strategic insight into the
portfolio of businesses that include Dow Epoxy Intermediates, Polymers and Systems.
Previous to this role, he served as the president and CEO of Dow Kokam. Dr. Shanker
led the team that created the Dow Kokam joint venture, an advanced battery manufacturing
business, and has many years of experience building, growing and running businesses
with Dow. Dr. Shanker first joined Dow in 1991 and has grown Dow’s business
via new product and new business development. Starting in the research department,
he focused on developing new manufacturing processes. Dr. Shanker also supported
the office of the CEO in strategy development for near- and long-term business
opportunities in emerging geographies. He was then appointed Global Business Director
of Specialty Plastics in the Performance Products Portfolio. Before assuming his
role with Dow Kokam, Dr. Shanker served as Corporate Director of Ventures and
Business Development, where he incubated a portfolio of innovative business opportunities
for Dow, driving many to commercialization. Dr. Shanker holds a Ph.D. in Mechanical
Engineering from the University of Delaware and B. Tech in Mechanical Engineering
from B.I.T. Sindri, in India. He also has an MBA from the University of Houston.
In light of the aforementioned experience qualifications, attributes and skills,
we believe Dr. Shanker is qualified to serve as a director.
Steven C. Jones
Mr. Jones has served as a Director of XG Sciences since March 2014. Mr. Jones
is the Chairman of Aspen Capital Group, LLC, a private equity firm headquartered
in Naples, FL, which manages private equity funds. Mr. Jones also serves as the
President of Aspen Capital Advisors, LLC, which is Aspen Capital Group’s
investment management subsidiary. Aspen believes its highest value is to be a
“hands on” partner with the management teams of portfolio investments
to help them achieve their growth objectives by bringing capital, strategic partners,
customers, additional management and other business advice. Mr. Jones has substantial
expertise in developing and financing emerging growth companies. In addition to
his involvement with XG Sciences, Mr. Jones serves on the Boards of NeoGenomics,
Inc. (NASDAQ: NEO) (“NEO”) and T3 Communications, Inc., a business
communications company. Mr. Jones has also served as Executive Vice President
of Finance and Chief Compliance Officer of NEO since November 2009 and February
2013, respectively, and previously served as Chief Financial Officer from October
2003 until November 2009. In December 2014, he was appointed to serve as a Director
of XG Sciences by the Aspen Advanced Opportunity Fund, LP in connection with their
investment in XGS. Prior to his career in structured private equity, among other
positions, Mr. Jones was a Vice President in the Telecommunications, Media and
Technology Investment Banking Group of Merrill Lynch & Co in New York and
was the chief executive officer or chief financial officer of various public and
private companies. Mr. Jones has a BS degree in Computer Engineering from the
University of Michigan and an MBA from the Wharton School of the University of
Pennsylvania. In light of the aforementioned experience qualifications, attributes
and skills, we believe Mr. Jones is qualified to serve as a director.
Michael Pachos
Michael Pachos is a Principal at Samsung Ventures. He joined Samsung in 2008,
first working out of the Seoul headquarters, and then transferring to their Silicon
Valley offices in 2012, and has been a director at Samsung since early 2015. He
focuses on Consumer, Display and Energy related investments. Prior to joining
Samsung Ventures, Mr. Pachos worked in the Samsung Group’s Global Strategy
Group (“GSG”). GSG was established under the Chairman’s Office
to address strategic and operational issues at the CEO level of Group companies.
He has worked on projects involving M&A, convergence and digital media, and
channel strategy. Before joining Samsung, Mr. Pachos was a CPU architect at DEC,
Compaq/HQ and Intel. He is also a co-founder of Global Velocity; an enterprise
security related Hardware Company. Mr. Pachos earned his MBA at the Wharton School
and completed law related coursework. He holds his B.S. degree in Computer Engineering
from Washington University in St. Louis. In light of the aforementioned experience
qualifications, attributes and skills, we believe Mr. Pachos is qualified to serve
as a director.
Dave Pendell
David Pendell is a principal of the Aspen Advanced Opportunity Fund. From June,
2009, Mr. Pendell has served as General Partner and Officer of AdvancedStage Capital
LLC, which he owns and operates. Since January, 2011 Mr. Pendell has served as
General Partner and Officer of ASC Lease Income LLC. From May of 2013 until February
2016, Mr. Pendell served as a Board Observer of the Company until he was appointed
to the board of directors in February 2016. In addition, Mr. Pendell has served
and continues to serve on the board of directors of ERP Maestro (since June of
2013) and the board of directors of Strategic Health Services Inc. (since April
of 2015) and has worked with Aspen Advanced Opportunity Fund and Veterans Capital
Fund. Mr. Pendell was responsible for the successful launch and subsequent profitable
sale of five start-up entities in which he was the lead entrepreneur and numerous
other investments where he served as a lead investor/mentor/coach. Predominantly,
Mr. Pendell led the growth of Pendell Printing, Inc. from a small print firm of
less than $1MM in sales in 1971 to over $85MM in 1998 when the sale of the business
was completed. Past management roles include Chairman of the Board/President of
Pendell Printing Inc.; co-founder of Envision Inc., a graphic solutions enterprise;
President and CEO of Baustert Engineering, Inc., a software business; co-founder
of Ecoland, a timber/real estate development company; founder of The Earth Generation,
an environmental education publisher; and co- Founder of Fuel Oil News, a publication
for the home heating industry. Mr. Pendell also actively participates in the Michigan
Angel Fund and Tamiami Angel Fund I and II. He received his BS in Psychology from
Central Michigan University in 1969. In light of the aforementioned experience
qualifications, attributes and skills, we believe Mr. Pendell is qualified to
serve as a director.
Scott Murray
Scott Murray has extensive experience as a senior operations executive and is
skilled in business management, product and process development, and strategic
leadership of growth of businesses. These experiences ranged from small, privately
owned companies to Fortune 500 Companies. Mr. Murray has been the Vice President
of Operations of the Company since October 2007. Prior to his tenure with the
Company, Mr. Murray was with Motor Wheel Corporation for 17 years having held
positions in engineering, marketing, and plant management. He served in the positions
of Chief Engineer and Director of Manufacturing prior to the leaving to form a
new company. Mr. Murray founded and was CEO of Uretech International Inc. from
1995 through 2004. He directed all process, product, marketing, and commercial
activities for that company. As a manufacturer of specialty chemicals and urethane
products, Uretech International supplied products to many markets including the
automotive, medical, and office furniture industries as well as a variety of industrial
applications. Most recently, as Director of Development for McKechnie Automotive,
Mr. Murray was responsible for the technical and market introduction of a new
product line and the startup of a manufacturing operation for that product line
in Kentucky. Mr. Murray is a graduate of Michigan Tech University, where he earned
a degree in Metallurgical Engineering. As a member of the Society of Automotive
Engineers and the American Iron and Steel Institute served on numerous task forces
and technical committees for professional organizations in the automotive industry.
He is a past Committee Chairman for the American Society of Non-Destructive Testing.
Mr. Murray is a registered Professional Engineer and holds a Six Sigma Black Belt
certification.
Robert Privette
Robert Privette is a technical business executive with more than 25 years of hands-on
experience in technology development and commercialization related to fuel cells,
batteries and other energy related devices. He has experience in managing large,
complex programs with the US Department of Energy, DARPA, the US Army and the
US Navy focusing on technology development, product design, new manufacturing
process, and market-based product qualification testing with multiple corporate,
university and laboratory partners. Mr. Privette was hired as the Vice President,
Energy Markets for the Company in May 2011. In his current role as Vice President,
Energy Markets, he is responsible for developing product markets and sales of
graphene nanoplatelets and associated value-added XGS products for energy storage
and conversion applications. Prior to joining XGS he was Director for Product
Development at Energy Conversion Device (ECD) - Ovonic Fuel Cell Company. In this
role, he led the development and execution of the company business plan and technology
roadmap for a 5 kW fuel cell product for stationary and portable power applications.
Before joining ECD in 2006, he worked for Degussa, a large German materials and
specialty chemicals supplier where he led customer product qualification programs
developed for North American customers focused on accelerating market introduction
and commercialization of state-of-the-art fuel cell membrane electrode assemblies
and fuel processing catalysts for automotive and stationary fuel cell power applications.
During 1989 through 2000 he worked for Babcock & Wilcox where he led a US
Department of Energy development program for a 50 kW on-board gasoline fuel processor
prototype for fuel cell vehicles. He received his MS degree in Mechanical Engineering
from Purdue University in 1986 and has completed MBA coursework.
Liya Wang, Ph.D.
Dr. Liya Wang leads the research and development activities of the Company for
a variety of applications. Previously, Dr. Wang was Principal Scientific Director
at CIC Energigune in Spain from 2010 to 2012. There he helped build a world-class
new energy research center and led the development of advanced batteries and capacitors.
Prior to arriving at CIC Energigune, Dr. Wang was Director of Emerging Technologies
from 2006 to 2010 at A123 Systems, a global Li-ion battery manufacturer based
in US. He led the development of new generations of Li-ion battery cathodes and
the transition of technologies into production. From 2003 to 2006, Dr. Wang worked
as R&D Director at Pacific Industrial Development Corp and coordinated the
development of nano materials for catalysis and luminescence applications. From
1999 to 2003, he was Manager of Materials Development and Vice President at T/J
technologies where he built and led a multi-million dollar battery research program.
From 1994 to 1999, he worked at IMRA America as a Researcher on electrochemical
capacitors and high power lithium ion batteries. Dr. Wang received a Bachelor’s
and a Master’s degree in Metallurgy from Beijing University of Science and
Technology in China, and a Master’s and a PhD degree in Materials Science
from University of Michigan in US. He is a Guest Professor at University of Electronic
Science and Technology in China and an Adjunct Associate Professor at University
of Michigan in USA.
Legal Proceedings
Beginning in 2014, POSCO, one of our licensees and a shareholder, has had a contractual
obligation to pay us a minimum fee of $100,000 per year to license certain technologies.
This obligation is due annually on February 28 commencing in 2015. We record this
license revenue at a rate of $25,000 per quarter. POSCO is disputing that they
are obligated to pay the royalties. A petition for arbitration has been filed
for this matter by the Company on March 9, 2016. On July 7, 2016, we received
a letter from the International Court of Arbitration and they have assigned an
arbitrator to the case. No assessment or decision has made by the arbitrator as
of December 31, 2016. Except as set forth above, to our knowledge, neither we
nor any of our officers or directors is a party to any material legal proceeding
or litigation and such persons know of no material legal proceeding or contemplated
or threatened litigation. There are no judgments against us or our officers or
directors. None of our officers or directors, promoters or control persons has
been convicted of a felony or misdemeanor relating to securities or performance
in corporate office.
Xg Sciences Inc currently has 22 employees.
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