Rob McCurdy, CEO of Pinnacle Renewable Energy, Announces Intention to Retire in 2020

Pinnacle Renewable Energy (“Pinnacle” or the “Company”) announced that Rob McCurdy has notified the Company’s Board of Directors of his intention to retire as the Chief Executive Officer of Pinnacle. McCurdy has served as Chief Executive Officer and as a member of Pinnacle’s Board of Directors since 2012. He will remain in his current role until his successor is appointed and will retire from Pinnacle on May 5, 2020. The Board has commenced a formal search process to identify and appoint his successor.

“The past eight years have been an exciting journey, with the addition of four pellet plants and one port, as well as expansion into Alberta and the US southeast,” said McCurdy. “I am proud of the team that we have built and am confident in their ability to continue to successfully lead Pinnacle in the future.”

Gregory Baylin, the Chairman of the Board of Directors of Pinnacle, said “On behalf of the Board, I would like to thank Rob for his contribution over his tenure at Pinnacle. Rob has demonstrated incredible dedication and integrity in his leadership and has played an integral role in transforming Pinnacle into one of the world’s leading manufacturers of wood pellets. We wish Rob all of the best in his upcoming retirement and look forward to continuing to work with him until a successor is in place.”

About Pinnacle Renewable Energy

Pinnacle is a rapidly growing industrial wood pellet manufacturer and distributor and the third largest wood pellet producer in the world. The company produces sustainable fuel for renewable electricity generation in the form of industrial wood pellets. This fuel is used by large-scale thermal power generators as a greener alternative to produce reliable baseload renewable power. Pinnacle is a trusted supplier to its customers, who require a reliable, high-quality fuel supply to maximize utilization of their facilities. Pinnacle takes pride in its industry-leading safety practices. The company operates eight industrial wood pellet production facilities in western Canada and one in Alabama and owns a port terminal in Prince Rupert, B.C. Pinnacle has entered into long-term take-or-pay contracts with utilities in the U.K., Europe, and Asia that represent 109% of its production capacity through 2021 and 109% of its production capacity through 2026.

Source: Pinnacle Renewable Energy Inc.