ReGen III promotes Redcliffe following departure of Driedger
ReGen III Corp., based in Vancouver, Canada, announced the promotion of Mark Redcliffe as president, following the immediate departure of Gordon Driedger for health reasons.
“We are saddened to see a senior executive of Gordon’s caliber leave our team due to unforeseen circumstances. Gord joined ReGen III in January 2018 as COO, was promoted to president, and ultimately helped the company navigate and deliver early project milestones in both Alberta and Texas. We support and fully appreciate Gord’s decision to resign and we wish him and his family nothing but the best,” said Greg Clarkes, chairman and CEO of ReGen III.
Driedger will remain available to the company on an as-needed basis.
Redcliffe, who was executive vice president, Corporate Finance, before his promotion, has been with ReGen III since April 2018. He has a BA in Southeast Asian Studies from the University of British Columbia and and MBA in Accounting and Finance from Queen’s University. He has been involved in almost every facet of the company’s business, from sourcing used motor oil feedstock, to preparing marketing and ESG materials, securing our three American Petroleum Institute licensed formulations, liaising with public market regulators and bankers and helping secure key agreements.
“First, let me thank Gord for his contributions to ReGen III over the past four years. Gord oversaw the establishment of a solid technical foundation from which Tom will continue to build. Second, I appreciate the opportunity afforded me through the ongoing mentorship and trust conferred by Greg and the ReGen III Board of Directors. I look forward to continuing to work with our entire team to close project financing, commence construction of our recycling project in Texas and complete additional environmentally progressive projects on behalf of our shareholders,” said Redcliffe.
In May 2021, ReGen III signed a definitive offtake agreement with bp to purchase 100% of the company’s base oils produced at its proposed 5,600 barrel-per-day (bpd) Texas recycling facility. The facility, which will process used motor oil (UMO) into Group III and Group II+ base oils and other products, will be built on Oiltanking’s brownfield terminal site in Texas City, thereby taking advantage of the extensive storage and logistics infrastructure already in place. Last year, ReGen III engaged Koch Project Solutions, LLC (KPS) to provide project execution management services leading up to the turnkey delivery of its new facility in Texas.
Alberta, Canada, is the proposed location for ReGen III’s secondary project. The proposed facility will process 2,800 bpd of used motor oil into Group III and Group II+ base oils.