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Press Release

Carbon America Welcomes Chief Commercial and Financial Officer Cruz Gamboa and COO Craig Spreadbury, As the Company Continues Growth

Published by Todd Bush on January 25, 2023

January 24, 2023 08:00 AM Eastern Standard Time ARVADA, Colo.--(BUSINESS WIRE)--Carbon America, a fully integrated carbon capture and sequestration (CCS) developer, welcomed two senior executives with four decades of industry experience as the company scales operations and develops new projects across the United States. In December, Cruz Gamboa was named Chief Commercial and Financial Officer, and Craig Spreadbury started as Chief Operating Officer.

'We are very excited to welcome Cruz and Craig to Carbon America at this important time of growth for us,' said Brent Lewis, CEO at Carbon America. 'These two industry veterans bring valuable knowledge and expertise in helping our clients responsibly decarbonize energy and industrial emissions to accelerate their net-zero goals.'

Gamboa has more than 20 years of experience in leadership positions at General Electric in corporate finance, debt and capital markets, and sales. He brings deep expertise in originating, structuring, and executing complex project finance transactions in the power generation sector.

Prior to joining Carbon America, Gamboa was the Decarbonization leader for the Americas at GE Vernova in the Gas Power division, where he deployed GE's carbon capture technologies with customers and partners. At Carbon America, Gamboa is responsible for directing Carbon America's project origination and development activities, developing strategic alliances and end-to-end commercial solutions across the CCS value chain, from capture to transport to storage. He will also lead Carbon America's capital formation and structured project finance activities.

'The opportunities in Carbon Capture and Sequestration are rapidly expanding and Carbon America is uniquely positioned to lead this space,' Gamboa said. 'I am excited about Carbon America's conviction to responsible development in CCS with the planet and communities in mind. We are a focused team with deep expertise in all aspects of project development, and as such we are working on solutions that maximize environmental and financial benefits.'

Spreadbury's 22 years in the oil and gas industry includes experience in operations, midstream, reservoir engineering and finance. Most recently, he served 10 years as Chief Operating Officer at Four Corners Petroleum, where he managed 65,000 acres of leases, a 300 million cubic feet-per-day CO2 recycling plant, and 250 miles of pipelines in Texas' Permian Basin. At Carbon America, Spreadbury will be responsible for the safe construction, operation and regulatory compliance of carbon capture, pipeline transport and geologic CO2 storage facilities.

'I look forward to applying my engineering and subsurface experience operating CO2 facilities and pipelines to help Carbon America clients efficiently and securely decarbonize their industrial processes,' Spreadbury said.

In 2022, Carbon America announced its first agreements to finance, build, own and operate carbon capture and sequestration systems. Projects expected to break ground in 2023 include ethanol facilities in Sterling and Yuma, Colorado, and in Bridgeport, Nebraska.

About Carbon America

Carbon America is a fully integrated carbon capture and sequestration (CCS) developer with a mission to decarbonize energy and industrial value chains and accelerate net-zero goals. For more information, visit www.carbonamerica.com/.

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