BayoTech Appoints Jeff Wood as Chief Financial Officer to Drive Growth and Financial Performance

ALBUQUERQUE, N.M., April 17, 2023 /PRNewswire/ -- BayoTech, Inc. ("BayoTech"), an innovator in hydrogen production and transportation solutions, is proud to announce the appointment of Jeff Wood as its new Chief Financial Officer (CFO). With a wealth of experience spanning 25 years in the energy value chain, Jeff is a highly skilled finance executive who brings to the role vast expertise in strategic planning, financial analysis, and capital raising.

Jeff has an impressive track record, having served as CFO for three public companies over a decade, including his most recent role as President and CFO of Black Stone Minerals, the largest publicly traded mineral and royalty company in the US. Prior to that, Jeff was the SVP and CFO of Eagle Rock Energy Partners until its acquisition, and served as a private company CFO for Siluria Technologies, a technology company that produces fuels and chemicals from natural gas.

Earlier in his career, Jeff was SVP and Portfolio Manager for Lehman Brothers Investment Management division, where he managed over a billion dollars and raised over $400MM in capital. Before that, he was in Lehman Brothers' Investment Banking division, where he led the execution of numerous initial public offerings, follow-on equity offerings, and debt issuances. Jeff started his career with PricewaterhouseCoopers in the audit and compliance advisory practice.

"I'm delighted to welcome Jeff Wood into BayoTech's executive leadership team," said BayoTech President and CEO Mo Vargas. "Jeff is an experienced leader in the energy sector who will bring strategic depth and strong oversite to BayoTech as the organization fully commercializes the deployment of BayoTech Hydrogen Hubs. He is a fantastic leader and person and will be a great cultural fit for BayoTech."

"I am excited to be part of such a dynamic and innovative company," Jeff Wood adds. "As the market for hydrogen expands, investor interest in hydrogen-related projects is rapidly increasing. I look forward to working with the team to drive growth and create value for BayoTech's stakeholders."

Jeff Wood holds a Master of Business Administration with honors from the University of Chicago Booth School of Business and a Bachelor of Arts, Business Administration from Baylor University.

BayoTech's current CFO, Wendy Rollstin, is retiring but will remain available until year-end to ensure a smooth transition. During her five-year tenure as CFO, Wendy was instrumental in shaping BayoTech's go-to-market strategy, building scale, and accelerating growth by securing more than $160 million in equity investments. 

"I want to thank Wendy for her dedication to BayoTech as not only CFO but a great business partner who leaves a strong impact on the company," said Mo Vargas. "On a personal note, she's been a trusted adviser to the Board and me; we will miss her partnership and wish her all the best in what will be an exciting and active retirement."

About BayoTech

BayoTech, an innovator in hydrogen solutions, is committed to addressing the global need for reliable, cost-effective, and low-carbon hydrogen. BayoTech sites hydrogen production close to demand and distributes it to nearby consumers via high-pressure gas transport and storage equipment. Customers are accelerating the decarbonization of their energy and transportation systems through BayoTech's supply of hydrogen molecules and equipment. Learn more at www.bayotech.us

Forward-Looking Statements

This release contains forward-looking statements concerning anticipated product deployments. These forward-looking statements reflect BayoTech's current expectations. Any such forward-looking statements are based on BayoTech's assumptions relating to its financial forecasts and expectations regarding its program development efforts, siting permits and market demand.

These statements involve risks and uncertainties that may cause BayoTech's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. Readers should not place undue reliance on BayoTech's forward-looking statements and BayoTech assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

SOURCE BayoTech