SC BIO Announces New CEO

January 23, 2009

GREENWOOD, SC- The Board of Governors of SC BIO announced today that Ambrose Schwallie will join the organization as its new CEO. Mr. Schwallie has worked in the technology sector for many years in an executive and consulting capacity.

Chairman of the Board Stephen Jones stated, “On behalf of the board, we would like to welcome Mr. Schwallie. We look forward to his leadership and vision for the organization. Ambrose will bring executive leadership skills, knowledge of moving technologies into the market, and consulting experience to this organization. He will be a wonderful addition to the program as SC BIO continues to add quality, high-tech jobs to the state’s economy.”

Mr. Schwallie is an experienced executive, serving as President/CEO of Westinghouse Savannah River Company, President of the Government Business Unit and President of the Defense Business Unit at Washington Group International, and most recently as CEO of Distributed Energy Systems Corp. In recent years, he has done business consulting for biotechnology-based companies in the United States. He has spent his career working with clean fossil, nuclear, and alternative fuels, as well as bio-remediation and environmental science technologies in various capacities.

“I am pleased to be a part of SC BIO and the efforts to improve South Carolina’s economy,” said CEO Ambrose Schwallie. “The bioscience industry continues to grow and promises new technologies that will improve the lives of South Carolina citizens as well as provide higher income jobs. I look forward to working with the leadership of South Carolina to continue the efforts to expand this important technology sector.”

Currently working with over seventy emerging life science technologies and companies, SC BIO was formed to grow the biotechnology industry in South Carolina. The organization is headquartered in Greenwood and also has offices in Charleston and Aiken areas.

SC BIO works with research centers such as the Greenwood Genetic Center, the research universities, Savannah River National Laboratory, and NOAA/Hollings Marine Complex to commercialize promising technologies and form new companies. The organization performs technology reviews, market evaluations, and other support activities for early stage companies- bringing biotechnology into the state’s economy.

SC BIO (The South Carolina Biotechnology Incubation Program) is a public/private, not-for-profit organization composed of industry, university, and private entities collaborating to develop new life science companies in South Carolina. SC BIO is a catalyst that aids in commercialization supporting financial growth, process development, and marketing for emerging life science companies.

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