Laurus Energy Names Rebecca McDonald CEO

December 15, 2008

HOUSTON, Dec. 16 /PRNewswire/ — Laurus Energy, the North American leader
in Underground Coal Gasification (UCG) project development, today announced
that top energy executive Rebecca McDonald has joined as CEO.

McDonald brings more than 25 years experience in the energy industry. She
has been responsible for the development, construction and operation of
natural gas and liquids pipelines, gas and electricity distribution companies,
as well as power plant and gas processing facilities in North America, Asia,
Africa and South America.

“Rebecca not only has a world view of energy development and the
challenges inherent in meeting energy demand, she also understands what’s
required to put new technology to work and scale it,” said Erik Straser,
MDV-Mohr Davidow Ventures General Partner and Laurus board member. “She brings
an entrepreneurial mindset to a complex industry.”

Laurus Energy was founded by Simon Maev and Michael Blinderman, each of
whom have 30 years experience in commercial UCG application. The company
applies a proprietary gasification process to un-mineable coal seams. This in
turn enables coal to be converted, in situ, into syngas. The company’s unique
process can produce commercial quantities of gas for both power generation and
chemical processes. Laurus’ initial market is to provide syngas for power
plants. The company leverages an exclusive relationship in North America with
the only successful global developer of UCG projects, Ergo Exergy.

“With Laurus’ differentiated technology we can address one of the biggest
challenges facing our generation — leveraging our vast coal reserves to
derive lower-cost power in a way that minimizes emissions, reduces
environmental impact and leads us to greater energy independence and energy
supply security,” McDonald said.

About Laurus Energy

Laurus Energy is the North American leader in Underground Coal
Gasification (UCG) project development. The company’s proprietary UCG process
coverts un-mineable coal reserves to syngas, providing cleaner, lower cost
energy to power plants as well as meeting other natural gas needs. A
privately-held company, Laurus Energy is backed by top Silicon Valley venture
capital firm MDV-Mohr Davidow Ventures. The company is headquartered in
Houston and also has operations in Alberta, Canada.

About MDV-Mohr Davidow Ventures

MDV is a leading Silicon Valley-based venture capital firm that partners
with exceptional entrepreneurs building breakthrough companies creating new
markets or disrupting incumbents, principally through technology innovation.
The firm invests in the areas of Cleantech, Information Technology, and Human
Health. Since its inception in 1983 the firm has taken a hands-on approach to
investments and working closely with entrepreneurs to reduce time to market
and build successful companies. Cleantech companies funded by MDV include:
Catilin; Genomatica; Gordon Murray Design; Hycrete; Laurus Energy; Nanosolar;
OPX Biotechnologies; Simbol Mining; and ZeaChem. MDV has $2 billion under
management. For more information, visit http://www.mdv.com.

SOURCE Laurus Energy

Source: newswire

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