GERMANTOWN, Md., Sept. 26, 2019 /PRNewswire/ -- Intrexon Corporation (NASDAQ: XON), a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced David H. Witte's acceptance as Chief Executive Officer designate of MBP Titan LLC.
MBP Titan LLC will be a standalone subsidiary company of Intrexon comprising Intrexon's Methane Bioconversion Platform (MBP) with its associated technologies, personnel, and facilities. Intrexon's MBP is designed to turn natural gas into more valuable and usable energy and chemical products via microbial fermentation. Traditional methods of feedstock conversion for fuel production and other materials are costly, wasteful and often come with significant environmental impact. The MBP production method has the potential to transform the generation of drop-in fuels, synthetic rubber, and plastic materials through less resource intensive and more sustainable approaches than conventional methods. Governor David Dewhurst will be Chairman designate of the new entity.
"Dave Witte, as leader of the most successful consultancy in the energy and chemicals industries and as a highly prominent and influential personality, will be the ideal CEO to bring forward our Methane Bioconversion Platform and to lead MBP Titan into a significant force in the world to exploit the abundance and low cost of natural gas as the world's least expensive carbon feedstock, while improving the environmental footprint of these industries," Governor Dewhurst stated.
Mr. Witte brings to Intrexon nearly 35 years experience in the energy value chain through financial, strategic, technical and functional assignments. Most recently he was Executive Vice President and Division Head, responsible for the overall commercial and operating aspects of IHS Markit's Energy, Chemicals and Agribusiness Division. Prior to his appointment to head the Energy Division, Mr. Witte served as Senior Vice President and Global Head of IHS' Oil Markets, Midstream, Downstream and Chemical Businesses overseeing the full spectrum of IHS' data, analytics, insight and consulting services globally.
"I am pleased to join Intrexon to help realize its vision of transforming the energy and chemical value chain through biologically-based approaches," commented Mr. Witte. "Intrexon's talented team has built a unique platform for gas to liquids conversion with significant potential to advance the industry, and I look forward to working with them as we progress program operations toward the next exciting stage and ultimately toward the market."
About Intrexon Corporation
Intrexon Corporation (NASDAQ: XON) is Powering the Bioindustrial Revolution with Better DNA™ to create biologically-based products that improve the quality of life and the health of the planet through two operating units – Intrexon Health and Intrexon Bioengineering. Intrexon Health is focused on addressing unmet medical needs through a diverse spectrum of therapeutic modalities, including gene and cell therapies, microbial bioproduction, and regenerative medicine. Intrexon Bioengineering seeks to address global challenges across food, agriculture, environmental, energy, and industrial fields by advancing biologically engineered solutions to improve sustainability and efficiency. Our integrated technology suite provides industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells. We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon, on Facebook, and LinkedIn.
Intrexon, Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information regarding Intrexon Corporation, contact:
Vice President, Investor Relations
Tel: +1 (301) 556-9850
Marie Rossi, PhD
Vice President, Communications
Tel: +1 (301) 556-9850
SOURCE Intrexon Corporation