Tomas Ackerman has been the Chairman of our board of directors since March 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. In addition, Mr. Ackerman previously served as a director of PDAC from August 2020 to January 2021, and currently serves as Chairman of the board of directors of PDOT. 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 a member of our board of directors since March 2021. Mr. Powell is currently an Operating Partner for Carnelian and will lead the sourcing, diligence and other efforts in connection with evaluating a busines combination for the company. Mr. Powell currently serves as a member of the board of director of PDAC and serves as the Chief Executive Officer and member of the board of directors of PDOT. Previously, 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, our Director , has been our Chief Financial Officer since March 2021. Mr. Wedemeyer is the Chief Financial Officer of Carnelian, where he oversees Carnelian’s accounting, finance and reporting functions. Mr. Wedemeyer currently serves as the Chief Financial Officer of PDOT. 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 B.B.A. in Finance with honors from The University of St. Thomas and a Master of Science in Accountancy from The University of Houston. We believe Mr. Wedemeyer’s extensive background in capital finance, accounting and professional history in the energy industry make him well qualified to serve on our board of directors.

Alan Levande will be the Vice Chairman of our board of directors . Mr. Levande is a career energy executive with broad experience across the power, utilities, renewables, midstream and upstream value chains. Mr. Levande is currently the Chief Executive Officer and Chairman of the board of directors of PDAC since August 2020 and Vice Chairman of the board of directors of PDOT since March 2021. Prior to joining PDAC and PDOT, Mr. Levande was Co-Chief Executive Officer of Covey Park Energy LLC, a natural gas company that was acquired for $2.2 billion in 2019 by a public company. Previously, Mr. Levande was a Co-Founder and Senior Managing Director at Tenaska Capital Management LLC, a $4 billion private equity manager focused on investments in the power and energy sectors. Mr. Levande began his career in energy investment banking, where he spent 20 years with Goldman Sachs and Salomon Brothers covering power, utilities, renewables and natural resources. In all of Mr. Levande’s prior roles, Mr. Levande was actively involved in sourcing and executing large-scale, complex mergers and acquisitions. Mr. Levande received his B.S. and M.B.A. from The Wharton School of The University of Pennsylvania. We believe that Mr. Levande’s significant experience as an energy executive, including his experience with PDAC and PDOT, make him well qualified to serve on our board of directors.

Edgar R. Giesinger, our Director , has more than 35 years of public accounting experience, all with KPMG LLP (“KPMG”). From 1999 until his retirement in September 2015, Mr. Giesinger served as Managing Partner for the firm’s Houston office. In this role, Mr. Giesinger was responsible for overseeing strategic direction, partner compensation, human resources and legal and regulatory affairs. Mr. Giesinger also served on the nominating committee of KPMG’s board of directors and as an audit engagement partner. During his tenure with KPMG, he advised a number of the firm’s clients in accounting and financial matters, on raising capital and international expansions, and in dealings with the SEC. While working with companies in a variety of industries, his primary focus has been energy and manufacturing clients. Mr. Giesinger is a Certified Public Accountant in the State of Texas and is a member and the former Chairman of the Texas Tri-Cities Chapter of the National Association of Corporate Directors. Mr. Giesinger previously served on the board of directors of Newfield Exploration Company, a publicly traded crude oil and natural gas exploration and production company, from August 2017 until February 2019 when it was sold to Encana Corporation. Mr. Giesinger currently serves on the board of directors of Geospace Technologies Corporation, a publicly traded company primarily involved in the design and manufacture of instruments and equipment utilized in oil and gas industries, in addition to serving on the audit committee and board of directors of Solaris Oilfield Infrastructure, Inc. (NYSE: SOI), a NYSE listed manufacturer and provider of proppant management systems for oil and gas well sites. We believe that Mr. Giesinger’s extensive financial and accounting experience, including that related to the energy and manufacturing industries, make him well qualified to serve on our board of directors.

Michele J. Everard, our Director , was previously employed by the University of Michigan’s Investment Office for 38 years, serving as Director and, most recently as, Managing Director, until her retirement in December of 2019. Ms. Everard was primarily responsible for investment strategy, recommendation of new investment opportunities and monitoring of the University of Michigan’s Endowment’s Real Estate and Natural Resources portfolios. Ms. Everard was a member of the University of Michigan’s Investment Committee and participated in the management of all of the University of the Michigan’s investment programs, including the Endowment Fund which ranks in the top ten among institutions of higher education. Ms. Everard received her B.B.A. in Finance from Eastern Michigan University and is a Chartered Financial Analyst charter holder. We believe that Ms. Everard’s experience in investments, including investment strategies and new investment opportunities, makes her well qualified to serve on our board of directors.

Cheryl Lipshutz, our Director , is a career energy and banking executive with experience in the power sector, both domestically and internationally. Ms. Lipshutz most recently served as Vice President, Portfolio Management and Strategic Planning at Duke Energy International, a $2.4 billion power company with operations across Latin America, with responsibility for all Joint Venture investments, mergers and acquisitions, power project development, valuation, market analysis and strategic planning, from 2009 until her retirement in 2016. From 2005 to 2009, Ms. Lipshutz served as a member of the board of directors of Attiki Gas Company, the local gas distribution company in Athens, Greece. Ms. Lipshutz’s career in Energy Banking additionally includes previous experience at both ABN AMRO Bank and JP Morgan Chase covering global energy, power and oilfield services companies. In all cases, Ms. Lipshutz was responsible for sourcing and negotiating complex mergers and acquisitions along with creating debt and equity solutions. Ms. Lipshutz received her B.B.A. from The University of Texas at Austin and received her M.B.A from Southern Methodist University. We believe that Ms. Lipshutz’s experience as an energy and banking executive in the domestic and international power sector, makes her well qualified to serve on our board of directors.