Tomas Ackerman has been our Chairman since January 2021. Mr. Ackerman is a Co-Founder and a Partner of Carnelian, where he oversees Carnelian’s efforts in sourcing investments, transaction negotiation and execution, monitoring of portfolio companies and firm management and strategy. Prior to co-founding Carnelian, Mr. Ackerman was an energy investor at Natural Gas Partners from 2002 to 2015, most recently serving as a Managing Director and the head of the Houston office. Mr. Ackerman received a B.B.A. from the Business Honors Program at The University of Texas at Austin and an M.B.A. from Harvard Business School. We believe that Mr. Ackerman’s transactional experience, as well as a significant investing experience, in the energy sector make him well qualified to serve on our board of directors.

Preston Powell has been our Chief Executive Officer and one of our directors since January 2021. Mr. Powell is a Managing Director of Carnelian, where he is responsible for leading investment sourcing, transaction due diligence and execution and monitoring portfolio companies. Prior to joining Carnelian in November 2015, Mr. Powell was an energy investor at Denham Capital Management and KKR & Co. from 2011 to 2015. He began his career in investment banking at Greenhill & Co. and received a B.B.A. from the Business Honors Program from The University of Texas at Austin. We believe that Mr. Powell’s significant investment and financial experience make him well qualified to serve on our board of directors.

Stephen Wedemeyer has been our Chief Financial Officer since January 2021. Mr. Wedemeyer is the Chief Financial Officer of Carnelian, where he oversees Carnelian’s accounting, finance and reporting functions. Prior to joining Carnelian, from December 2013 to November 2016, Mr. Wedemeyer was the Manager of Finance and Operations of Stellus Capital Management, LLC, an investment firm with platforms focused on direct lending to middle market companies and energy private equity. Mr. Wedemeyer began his career in the Assurance Services practice of Ernst & Young, LLP. Mr. Wedemeyer received a Bachelor of Business Administration in Finance with honors from The University of St. Thomas and a Master of Science in Accountancy from The University of Houston.