Next Renewable Fuels adds Trauber, former Citigroup vice chairman, to board of directors

Next Renewable Fuels announced Stephen Trauber has been appointed to its board of directors ahead of the company’s anticipated listing on the Nasdaq Capital Market.

Trauber

Next is a next-generation fuels company dedicated to sustainably producing clean, low-carbon fuels from organic feedstock.

“Biofuels will play a significant role in advancing sustainable transportation,” Trauber said. “Next has positioned itself to be a transformational leader in the biofuels sector and it is a privilege to help guide the important and positive impact Next will have on implementing energy transitions. It’s an exciting time as we see federal and state climate policies reinforce strong market growth for clean fuels in the United States and around the world.”

Trauber is widely recognized as one of the most prominent energy-investment bankers in the world.

He was responsible for initiating and building the Global Clean Energy Transition Team at Citigroup while serving as its global head of natural resources and clean-energy transition.

He also played a key role in establishing Citi’s plan for decarbonizing its financed emissions.

Prior to his retirement in late 2022, Trauber played a key role in many of the energy industry’s flagship transactions while overseeing hundreds of financings, mergers and acquisitions.

Trauber began his career with Credit Suisse First Boston (1988-1995) and subsequently managed Morgan Stanley’s Energy Group in Houston (1995-2003).

He joined UBS Investment Bank in 2003 as a vice chairman and global head of energy and joined Citi in 2011 where he managed one of Wall Street’s largest global energy-investment banking practices.

“Steve is a recognized leader in business and the energy transition,” said Christopher Efird, CEO and chair of Next. “Next is extremely fortunate to have the comprehensive knowledge, insights and experience he brings to our board.”

Trauber has earned several recognitions for his community contributions and professional achievements over his 35-year career.

These include the inaugural Barbara Jordan Award for community service and support for children and charities, a Dealmaker magazine top 10 “Wall Street Rain Maker” ranking, and a Rice University Athletics Distinguished “R” award and induction to the Rice Athletics Hall of Fame.

Trauber graduated from Rice University with a bachelor’s degree in managerial studies and economics and earned a master’s degree in business administration from Northwestern University’s Kellogg Graduate School of Management.

Trauber serves several organizations in the Houston area, including as board chair for the Memorial Herman Hospital Foundation, a board of advisors’ member for Rice University’s Jones Graduate School of Business, and board member of Performing Arts Houston and Theatre Under the Stars.

Next’s first project is a renewable diesel and sustainable aviation fuel refinery in Oregon scaled to produce 750 million gallons per year with easy multimodal access to the West Coast demand markets.

The project is advancing through permitting and expects to begin construction upon completion of an environmental-impact statement currently underway with the U.S. Army Corps of Engineers.