Knickerbocker Affiliate, Pure Energy, Hires President
L.L. Knickerbocker Co., a marketer of collectible dolls and teddy bears, said its affiliate, Pure Energy Corp., has hired Merrick Andlinger, an investment banker in New York City, to be president and chief executive.
Andlinger will work for the Rancho Santa Margarita firm from a New York office. Pure Energy, with seven employees, is developing a low-cost alternative fuel source made from “societal waste.”
Andlinger, 38, will be leaving his job as a corporate finance managing director at Smith Barney Inc., a unit of Travelers Group Inc. He is co-leader of its Global Energy and Power Group.
“We’ll keep a California office, but we will have a new office in New York,” said Scott Dunlop, Pure Energy’s co-founder. “An energy company needs to have a presence in New York.”
Dunlop praised Andlinger’s sense of vision and 15 years of experience in the petroleum industry. “Yes, he comes from the financing side,” Dunlop said. “But he also knows this energy business.”
Privately held Pure Energy has an exclusive license from Princeton University for rights to a non-petroleum alternative to gasoline. The fuel is designed to produce low emissions. In March, Knickerbocker agreed to acquire 40% of Pure Energy in exchange for 400,000 stock options and a commitment to provide up to $1 million for research and marketing.
Knickerbocker markets celebrity-endorsed products, such as Marie Osmond collectible dolls, through home-shopping channels. Knickerbocker shares were up 12.5 cents to close at $12.12 in heavy trading.
