Nova Pangaea appoints new CEO

Nova Pangaea Technologies, the Tees Valley-based company behind a novel technology to produce sustainable aviation fuel from waste biomass, has appointed cleantech veteran Stewart Stewart as its new chief executive.

Stewart brings more than 30 years’ experience commercialising breakthrough energy and low-carbon technologies and scaling venture-backed businesses in the UK and US. As chief executive, he will lead Nova Pangaea’s next phase of growth, including the development of its first commercial-scale production plant, as the company works to decarbonise aviation.

The company is backed by International Airlines Group and is currently working with British Airways and LanzaJet on Project Speedbird, a Government-supported collaboration to produce sustainable aviation fuel (SAF) in the UK.

Stewart joins from New York-based investment bank Javelin Capital, where he advised on green fuel opportunities. 

Previously, he held executive leadership roles at cleantech companies BayoTech and Concord Blue Energy in the US and served as a senior advisor to London-based Ikigai Energy, supporting UK infrastructure owners on decarbonisation strategies. 

Across his career, he has helped raise more than £150 million in equity and project capital for energy technologies.

Stewart said: “Nova Pangaea has developed a truly differentiated platform to convert biomass into sustainable fuels at scale. 

“I’m excited to work with the team and our strategic partners to accelerate commercialisation, develop projects in the UK and globally, and build a world-class company, delivering both climate impact and long-term value.”

Nova Pangaea’s proprietary REFNOVA technology converts agricultural and wood residues, including wheat straw and wood chips, into bioethanol, which can then be processed into SAF. 

The company operates a demonstration plant at its headquarters at Wilton International and plans to deploy its technology across four UK production plants as part of Project Speedbird, alongside international licensing opportunities.

To date, the company has raised more than £21 million from investors including IAG, PXN Ventures, Mercia Ventures and the Northern Powerhouse Investment Fund, alongside £7 million in grant funding.

Gerald Koch, chairman of the board, added: “It’s great to have Stewart with his experience, network and personal energy on board to deliver the next important milestones in the technology and the first commercial-scale plant.”

Anna Turley, MP for Redcar, added: “Nova Pangaea Technologies is something we can be genuinely proud of here in Redcar & Cleveland. 

“It’s a forward-looking business doing important work on low-carbon technologies, including projects with real carbon-capture benefits, while creating skilled jobs and investment locally.

“Wilton is a hugely important site for our area and for the country. 

“It has the infrastructure, skills, and industrial heritage needed to lead the next generation of cleaner industry, and companies like Nova Pangaea show exactly what that future can look like. 

“I welcome the appointment of the new chief executive and wish them every success as the company moves into its next chapter.”

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