Our Team

APT is recognized by the worldwide scientific community as leaders in emulsions, stemming from our extensive experience in a wide variety of industries, environmental technologies and emulsified fuels.

Our core management and scientist team has many years of general industry and emulsified fuels experience.

Board of Directors

Paul Alar

Since October of 2002, Mr. Alar, as the principal of West Mountain, LLC, has been managing West Mountain Partners, L.P. an Atlanta based multi-strategy, multi-manager, fund-of-funds. He also manages West Mountain, Ltd., a British Virgin Islands corporation, which serves as an offshore fund for non-US investors and retirement plans and is a sister fund to West Mountain Partners, L.P. Twice in the last eight years, West Mountain Partners, LP was ranked the best performing fund of funds in the world in its category. West Mountain’s most recent offering is the West Mountain Tactical European Finance, SPV which invests solely into Interritus Limited, a London-based company that invests in and restructures troubled Eurozone financial companies, particularly banks.

Mr. Alar has been in the investment business since 1982. He was employed by Bear Stearns & Co. for twelve years where he managed risk arbitrage portfolios for institutional and private clients and was appointed Senior Managing Director in 1993. Mr. Alar was also a Senior Vice President at Oppenheimer & Co. where he worked extensively with the firm’s Alternative Asset Group and served on the firm’s Broker Advisory Board. In 1999, he joined Deutsche Banc as a Director and was responsible for introducing Domestic Private Placement Insurance to the firm as a strategy for making hedge fund investments more tax efficient.

Mr. Alar is a graduate of East Carolina University, and previously served on the Advisory Counsel of its School of Business. Mr. Alar also studied Advance Portfolio Management at the Wharton School of Business.

Dr. Fred P. Buckingham, P.E.

Dr. Buckingham has over thirty five years experience as an engineer; his assignments have included Design Engineer, Project Manager, Vice President and Director of corporations engaged in development, design and deployment of high technology equipment and systems.  Dr. Buckingham was a Director for Electric Power Technologies, Inc.  Dr. Buckingham has extensive experience developing and deploying hybrid liquid fuel technology including liquid slurries and emulsions.  Dr. Buckingham has authored numerous technical publications on preparation and combustion of liquid fuels.  Dr. Buckingham has extensive experience evaluating energy systems for power production and industrial processes.  Dr. Buckingham joined MPR Associates, Inc. in 2001 and is currently a consulting engineer.  Dr. Buckingham received his undergraduate degree in Mechanical Engineering from the University of Texas at Austin in 1975.  He received a Master of Science degree in Mechanical Engineering in 1980 and earned a Ph.D. in 1993 from the University of Texas at Arlington.  Dr. Buckingham is a Registered Professional Engineer in the State of Texas.

Mr. John W. “Jack” Carter, Director

Mr. Carter has been on the Board of Directors of APT since 2007. He brings his multinational, geopolitical experience to APT as it expands worldwide. Since 2007, he has served in various capacities, primarily focused on international opportunities, with SGS Asset Management including as Vice-Chairman. In 1998, Mr. Carter along with his wife, Elizabeth, co-founded an investment company which introduced multinational corporations to premier private equity investment firms; that formation led to their development of a global network. Later, they co-founded Carter Global LLC which they currently own and operate. Mr. Carter entered the commodities markets in 1977 and has experience in farming and grain markets; he ran the financial futures desks for both Continental Bank and Archer Daniels Midland at the Chicago Board of Trade; and he was a foreign exchange dealer with Citibank and the Bank of Bermuda (now, HSBC) where he was also Director of Research and Product Development for Global Treasury. In that position he developed a “Currency Overlay Product” for the bank, a hedging vehicle for persistent currency exposure. In the mid-1990s he worked with Invesco Capital Management as their representative to Bermuda’s international community of banks, captive insurers, and reinsurers and was the Secretary of the Global Asset Allocation Committee. In 2006, Mr. Carter was the Democratic Nominee for the U.S. Senate in Nevada. He also campaigned extensively in 1975-6 for his father, Jimmy Carter, for President. He is currently a Senior Advisor to Brown Gibbons Lang & Company, an independent investment banking firm in Cleveland, OH, and a Director of Skyworks Global, a gyroplane developer specializing in autorotative flight.. Mr. Carter has a BS in Physics from Georgia Tech and a JD from the Lumpkin School of Law at the University of Georgia where he is a member of the Bar. From 1968-1970, Mr. Carter was an Electronics Technician in the United States Navy with a tour in Vietnam.

Mr. Steve G. Stevanovich, Director

Mr. Steve Stevanovich is the Chairman and CEO of SGS Global Holdings which holds control investments in a number of technology companies in various industries. He has over 30 years of experience in international investing and has been involved with Alternative Petroleum Technologies and its predecessor companies since 2001. Mr. Stevanovich is a member of the Board of Governors of the U.S. Department of Energy’s Argonne National Laboratory, the oldest and largest of the U.S. national labs. He is a member of the University of Chicago Board of Trustees where he sits on a number of committees, including the University’s Audit Committee. He serves on the Board of Advisors to the University’s Master of Science Program in Financial Mathematics and on the Council of the Booth School of Business. Prior to founding his own firm in 1997, Mr. Stevanovich was the Executive Vice President of Everest Capital Limited, a $1.4 billion fund management firm. During his five years at Everest Capital, the firm’s funds specialized in investments in distressed companies and restructurings. Prior to joining Everest Capital, he had more than seven years of experience in corporate finance and investment banking, most recently at Ingoldsby, O’Connor, Altwell & Company, a leveraged buyout firm in Boston, Massachusetts, where he was involved in analyzing and valuing companies in various industries and negotiating the capital structure and pricing of various transactions. In 2007 he endowed the Stevanovich Center for Financial Mathematics, and in 2015 he endowed the Stevanovich Institute on the Formation of Knowledge. Mr. Stevanovich holds an AB in Economics from the University of Chicago as well as an MBA from the University’s Booth School of Business.


Mr. Jack Waldron, Vice President of Engineering

Mr. Waldron has nearly 30 years of experience primarily in the Minerals and Mining sector. He has been working with emulsified fuels since 2001 in a variety of capacities that included engineering studies, which led to the invention of several emulsified fuel manufacturing procedures and several patents.

Mr. Waldron was responsible for the design, fabrication, research, and development of APT’s entire line of blending units. He has participated in demonstrations for each of APT’s emulsified fuel product lines in a variety of applications and locations around the world. Mr. Waldron was also intimately involved in the legal procedures which helped secure APT’s international patent portfolio.

Prior to working with emulsified fuels, Mr. Waldron held senior metallurgical engineering positions with international companies such as Barrick Goldstrike, Newmount Mining Company and Echo Bay Mining Company where he focused on plant design, optimization of operations and economic analyses. Early in his career, he was an officer in the US Navy involved with nuclear propulsion.

Mr. Waldron received his advanced degree from New Mexico Institute of Mining and Technology.

Mr. Neal Patel, Director of Business Development

Mr. Patel worked at a pre-revenue Fischer-Tropsch fuel conversion company called Velocys where he helped the Company’s management and Board identify growth opportunities even against the backdrop of a global oil downturn. The technology is designed to convert low-value feed stock such as natural gas or solid waste into high-value fuels such as ultra-low sulfur diesel and high quality base oils. There he spotted trends, identified new markets, and created financing/business opportunities among various producers and/or consumers of fuel.

He started his career as an investment banker at Lazard where he worked on multiple deal teams for major companies with transactions totaling over $30 billion. Subsequently, he held multiple roles for a publicly-traded midstream partnership, Plains All American Pipeline, where he helped management assess the North American oil market, analyze investment opportunities, and grow its pipeline system volumes. Mr. Patel has over a decade in the oil & gas industry and is highly acquainted with the industry landscape. He holds a Bachelors in Finance from the University of Texas at Austin.


Dr. Richard Ellis, Regulatory Affairs & Research

Dr. Ellis has nearly 40 years of industrial experience in primarily the Pulp and Paper sector. Dr. Ellis has been working with emulsified fuels since 2000, in a variety of capacities that included the invention of various new products for the transportation and industrial fuel markets, and expanding this core technology into new areas and applications.

Since the early seventies, Dr. Ellis has held senior management positions relating to environment and research matters with Mactec Engineering and Consulting, Inc., St. Laurent Paperboard, Inland Paperboard and Packaging Inc. and Union Camp. Dr. Ellis was responsible for a broad range of technology and environmental issues that included navigating his companies through the evolution of the Environmental Protection Agency environmental policies for Pulp and Paper Sector and issues with Greenfield and major rebuilds of multi-billion dollar plants. Dr. Ellis’ expertise in the Pulp and Paper sector have enabled APT to incorporate cost-effective components into its technology and facilitated the smooth navigation of complicated regulatory landscapes around the world.

He has published over a dozen papers, co-authored several books and supervised development efforts that led to hundreds of patents. Dr. Ellis received his doctorate in Physical Chemistry from University of Cincinnati.


Mr. Kylen Smith

Mr. Smith’s specialties are in waste water recycle, chemical process design, and instrumental analysis. Early in his career he worked as a Project Engineer in a casting facility and oversaw the fabrication and quality assurance of single crystal and columnar high temperature turbine parts, specializing in grain analysis. He then moved to a facility that leached and recovered Tantalum for use in computer components.  At this facility, he started off as the head of acid leaching and later became head of water treatment and also the lab manager.  During this period he spent three months in South Africa where he was a major asset in assisting in the building and commissioning of a chemical plant.

Mr. Smith graduated with a degree in Chemical Engineering with emphasis in Material Science from the University of Nevada.

Dr. Thomas Houlihan, Mechanical Engineering and Combustion

Dr. Houlihan has over 30 years of industrial experience in environmental sciences and maritime technologies. Dr. Houlihan has been working with emulsified fuels since 1997 in a variety of capacities that include demonstrations all over the world for industrial and electrical power plants.

He was introduced to the APT Technology while working as an Executive Fellow for the American Society of Mechanical Engineers with the United States White House Science Office where he was focused on alternative energy policy issues. Previously, he spent nearly 20 years working in the US Navy Phased Maintenance Program managing major ship alteration and repair activities involving heavy-duty diesel engines, combustion turbines and propulsion boilers. During this time, he led industry efforts to introduce Computer Aided Design (CAD) technology into ship design programs. Dr. Houlihan began his career at the Naval Post Graduate School where he served as a tenured associate professor and taught a full-spectrum of mechanical engineering courses. His practical and academic expertise in combustion principles enable APT to optimize its fuel emulsions for the targeted balance between power, emissions and cost as well as to ensure that its engineering partners are suitably qualified for manufacturing blending units.

Dr. Houlihan has delivered over 50 presentations globally and authored or co-authored dozens of publications. Dr. Houlihan received his doctorate in Mechanical Engineering from Syracuse University.

Mr. Satish Makhija, Refinery and Indian Expertise

Mr. Makhija has over 30 years of industrial experience in petroleum refining and transportation R&D. He has been working with emulsified fuels since 2008, with the principle task of establishing the emulsified fuel business in India.

Mr. Makhija was introduced to the APT Technology shortly after retiring from the Indian Oil Corporation Ltd. (India’s largest petroleum marketing and refining company) Research and Development Center as its Executive Director-Incharge. While at Indian Oil Corporation Ltd., he spent over 20 years working with the development of Instrumented Pigs for inspection of buried cross-country pipelines and crude oil rheology, process and catalyst development for various refining operations such as FCC, reforming, isomerization, etc. Mr. Makhija also lead efforts related to applied metallurgy, engineering projects and services, analytical instruments division/MIS, safety, Hindi implementation and quality/environment management system. He was also responsible for initiating and successfully conducting collaborative research with many leading Indian and international organizations.

Mr. Makhija began his career with Shriram Fertilizers, where he worked on operations of ammonia, urea and sulfuric acid production facilities, evaluation of manufacturing process and technologies, and techno-economic evaluations. His practical expertise in the Indian Oil sector enables APT to customize its technology portfolio for the Indian market.

Mr. Makhija co-authored dozens of publications and is listed as the inventor on 28 patents. He went on to get his Master’s degrees in Chemical and Metallurgical engineering from Ohio University and the University of Missouri.

Part-time Consultants

APT also engages a number of leading scientists and consultants from around the world on an exclusive part-time basis for its technology.  Several scientists are leading researchers working at Universities with whom APT conducts various research projects while others are leading consultants with entities such as engineering firms.

Our Strengths

Company Overview