LAWRENCE, Kan. — PrairieFood, developer of an innovative approach to converting waste biomass into safe, valuable, high-carbon products for agriculture and other sectors, announces Thomas Hoenig, Distinguished Senior Fellow at the Mercatus Center and six-year President for District 10 of the FED, has joined its Board of Advisors.
In many of his prior roles Mr. Hoenig worked with agricultural banks throughout the country, which play a vital role in sustaining agriculture and supporting innovations that keep U.S. agriculture among the most productive in the world. Innovation relating to carbon and currency in Ag that will lead to a more circular economy has drawn Hoenig to view the future of sustainable agriculture through the lens of the farmer and rural lenders who must build strong relationships with industry-changing innovators like PrairieFood. Hoenig’s experience will lend support to PrairieFood by helping guide the strategic plan to bring the benefits of its patented technology to all aspects of rural America. This technology is a real solution positioned to accelerate global sustainability and reductions of fossil fuels by transforming waste biomasses into micro carbons to feed the microbiome that supports all plant life.
“PrairieFood is targeted to have an enormous impact on solving many of society’s environmental and economic challenges,” said Hoenig. “I am committed to providing support to Robert Herrington and the strong team he has assembled for the task of bringing PrairieFood to a global enterprise scale.”
“We are very pleased to have Tom Hoenig, a longtime internationally recognized FED banking leader, join PrairieFood’s strong Board of Advisors. His insight and industry leadership is confirmation that PrairieFood continues on the right path. Welcome to our team, Tom,” said PrairieFood CEO and Co-Founder, Robert Herrington.
Thomas Hoenig, Distinguished Senior Fellow, conducts research at Mercatus Center at George Mason University on the long-term impact of the politicization of financial services as well as the effects of government-granted privileges and market performance. Prior to joining the Mercatus Center, Mr. Hoenig served as the eighth chief executive of the Tenth District Federal Reserve Bank in Kansas City, and served as Vice Chairman of the Federal Deposit Insurance Corporation from 2012 until 2018. In that capacity, he oversaw FDIC operations and policy related to deposit insurance pricing, bank supervision, financial stability, and bank resolution. He served as Director of NeighborWorks America, which was established by Congress in 1978 to address housing issues nationwide. He also served as a member of the International Association of Deposit Insurers’ board and was its President and Chairman from October 2015 to October 2017.
About PrairieChar, Inc.
PrairieChar, Inc. d/b/a PrairieFood is the developer of an innovative approach to converting waste biomass into valuable carbon products in a way that overcomes the economic challenges of past biomass conversion efforts. The company provides an attractive cost-effective solution for the management of environmentally hazardous biomass such as feedlot manure and produces profitable, renewable products for the agricultural and energy markets that are cost-competitive without subsidy. Inquiries may be directed to Inquiry@PrairieFood.com. www.PrairieFood.com
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