Thomas J. Stephenson

CEO & Chairman

Prior to co-founding Pajarito Powder in the Spring of 2012, Mr. Stephenson was a co-founder of the Verge Fund in 2003, and currently serves as Managing General Partner in addition to his responsibilities with Pajarito Powder. Mr. Stephenson has worked with a number of current and past Verge portfolio companies, including Altela and Wellkeeper, and was previously on the Board of Directors of LabStart, a joint-venture entity created to assist in commercialization of technologies from Los Alamos National Laboratory, one of the sources of technology for Pajarito Powder. He previously served as a director and the lead investor for Mesofuel, a start-up company commercializing novel hydrogen reforming technologies for the fuel cell industry.

Dr. Barr Zulevi

Dr. Barr Zulevi

CTO & President

Dr. Barr Zulevi has extensive experience in materials science, both from his academic career and commercialization experience since co-founding Pajarito Powder in 2012. Dr. Zulevi has overseen and led the Pajarito Powder team in developing the world-class VariPoreTM manufacturing platform and VariPoreTM line of Engineered Catalysts and Catalysts Supports. Under his leadership, Pajarito Powder has licensed, scaled-up, and re-engineered catalytically relevant materials, including catalyst technologies from Los Alamos National Laboratories, University of New Mexico, INRS, and Northeastern University. A team of scientists and technicians supports him with extensive expertise in developing catalysts, technology-transfer, scale-up, and manufacturing of electrocatalysts for fuel cell and electrolyzer applications.

Alexey Serov

Dr. Alexey Serov

Chief Scientist

Dr. Alexey Serov’s technical research began with the Samsung SDI R&D Center, before joining the Dept. of Chemical and Biological Engineering at the University of New Mexico in 2010, as a Postdoctoral Fellow. Dr. Serov was later promoted to Research Assistant Professor in 2013 and Research Associate Professor in 2015.

In his research, Dr. Serov has published more than 260 peer-reviewed articles. His IP portfolio consists of 74 issued patents and more than 120 patent applications. His primary research interests include synthesis and characterization of new materials for clean energy technologies, such as fuel cells, electrolyzers and the synthesis of “electrofuels”. Dr. Serov collaborates with multiple research groups around the globe, including academic and industrial partners. He also developed a new generation of catalysts for oxygen reduction reactions that were successfully integrated into the Daihatsu FC ShoCase prototype, introduced at the Tokyo Motor Show in 2013.

Dr. Serov began consulting with Pajarito Powder in 2013, where he shared his expertise in the field of PGM-free electrocatalysis for fuel cell applications. He began his full-time position with Pajarito Powder in 2016 as Chief Scientist, where he manages projects related to the design and manufacturing of electrocatalysts and supports for energy-related applications.

Dr. Alia Lubers

Catalyst Manufacturing Manager

Dr. Alia Lubers began her research at the Naval Research Lab in Washington D.C., where she investigated ruthenium oxide for battery materials. Dr. Lubers is a recipient of the National Science Foundation Graduate Research Fellowship, and her Ph.D. research sought to scale platinum deposition onto carbon, via atomic layer deposition in a fluidized bed. In her time at C.U., Boulder, Dr. Lubers gained managerial experience in a research environment, and completed a short Postdoctoral Fellowship in 2015.

Dr. Lubers joined Pajarito Powder in September 2015 as the Plant Manager, before becoming the Catalyst Manufacturing Manager in early 2016. She is head of the Manufacturing and Quality Assurance departments, and her main objectives are to bring consistency to plant operations, holistic manufacturing planning and safety accountability. Dr. Lubers assists with logistics for shipping orders, and has developed systems for executing most projects associated with manufacturing PMF and ECS products, including coordinating analysis, synthesis, quality assurance, and archival documentation. She is author or co-author on 33 papers and presentations.



Douglas Penner, CPA CMA


Mr. Penner is an accounting professional with more than 25 years of experience. He began his career in public accounting, and has earned his CPA and CMA designations. Mr. Penner has 11 years of managerial experience in startups, and is experienced as a CFO and Controller.