Avetta names new president and CEO
Orem-based Avetta, a company which provides cloud-based supply chain risk management solutions, announced Monday that its board of directors has appointed Arshad Matin as president and CEO. Matin succeeds John Herr, who is stepping down as CEO, effective immediately. According to a press release, Matin will also become a member of the company’s board of directors. Herr will continue to serve as a strategic advisor to the board to ensure a smooth transition.
The press release states Matin has over 25 years of experience in successfully leading high-technology and software companies. Most recently, Matin served as president, CEO and board member of Paradigm Ltd., a developer of software solutions for the global oil and gas industry. Matin has also held senior leadership roles at IHS Markit, Seismic Micro-Technology, Inc., Symantec Corporation and BindView Corporation.
Matin joins Avetta after the company recently acquired eWebOQ and BROWZ, as well as launched its new platform, Connect, and its Supplier Marketplace.
“We are pleased to welcome Arshad Matin at this exciting time for the Company. Avetta is accelerating growth and capitalizing on the opportunity to utilize software to enhance safety, sustainability and regulatory compliance outcomes for clients and their suppliers — in North America and internationally,” said Christopher J. Hooper, Lead Director of the Board of Avetta. “We believe Arshad’s extensive experience scaling software businesses will be invaluable as the Company executes the next phase of its growth strategy.”
Hooper also thanked former CEO John Herr for his contributions and leadership over the past five years.
“It’s been a privilege to lead Avetta from its founder-owned phase through the substantial growth we have achieved over the past five years,” Herr said. “I am proud of our accomplishments and the Company is in excellent shape to continue to grow and serve our customers and suppliers around the world. I am confident that Avetta is well positioned for the future.”
Matin said he is excited to join the company and its talented team, complimenting the company for its “clear competitive advantages on which to build a highly attractive and growing industry.”
Dominion Energy, Smithfield Foods invest $500M in renewable energy
Dominion Energy and Smithfield Foods announced Wednesday the companies are doubling their investment in renewable gas projects across the U.S. to $500 million through 2028. According to a press release, this additional investment will expand their Align Renewable Natural Gas joint venture beyond its initial projects in North Carolina, Virginia and Utah to pursue new projects across the country, including in Arizona and California.
Align Renewable Natural Gas was first formed in November 2018, and at the time, Dominion Energy and Smithfield Foods committed over $250 million over 10 years to capture methane from Smithfield’s company-owned and contract hog farms to convert it into clean, renewable natural gas. With Wednesday’s announcement of the additional $250 million invested, the press release states Dominion Energy and Smithfield Foods will produces enough renewable natural gas to power more than 70,000 homes and businesses by 2020.
The first Align Renewable Natural Gas project in Milford will be operational this year and will produce enough energy to power more than 3,00 local homes and businesses at full capacity, according to the press release.
“Last year, we joined forces with Dominion Energy in a historic initiative to transform the future of sustainable energy and agriculture,” said Kenneth M. Sullivan, President and CEO of Smithfield Foods. “This substantial extension of our ‘manure-to-energy’ efforts will help us achieve our ambitious goal to reduce greenhouse gas emissions 25% by 2025 across our entire supply chain, while creating additional value for local family farmers and providing communities with clean energy.”
When fully implemented, the press release states that this partnership will prevent more than 2.5 million metric tons of greenhouse gases from entering the atmosphere — the equivalent of taking more than 500,000 cars off the road or planting over 50 million new trees.