Kimberly Heimert
About Kimberly Heimert
Kimberly Heimert, 55, has served as an independent director of AltEnergy Acquisition Corp. (AEAE) since April 2022. She is the Founder and CEO of Energy Transition Advisory Group LLC and previously held senior legal roles including General Counsel of Africa50 and the U.S. Overseas Private Investment Corporation (OPIC, now DFC), and Deputy Chief Counsel of the U.S. Department of Energy’s Loan Program Office, with earlier experience at Shearman & Sterling, Chadbourne & Parke, and White & Case . She currently serves on AEAE’s Compensation Committee and Nominating & Corporate Governance Committee; the company identifies her as independent under Nasdaq listing standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Africa50 | General Counsel | Not disclosed | Senior legal leadership for infrastructure investing |
| U.S. Overseas Private Investment Corporation (OPIC, now DFC) | General Counsel | Not disclosed | Led legal function at U.S. development finance institution |
| U.S. Department of Energy – Loan Programs Office | Deputy Chief Counsel | Not disclosed | Legal oversight of energy/industrial loan programs |
| Shearman & Sterling | Attorney | Not disclosed | Private practice in energy/infrastructure law |
| Chadbourne & Parke | Attorney | Not disclosed | Private practice in energy/infrastructure law |
| White & Case | Attorney | Not disclosed | Private practice in energy/infrastructure law |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Energy Transition Advisory Group LLC | Founder & CEO | Not disclosed | Strategic advisory on energy transition and financing |
| Wahba Institute for Strategic Competition (Wilson Center) | Advisor/Contributor | Not disclosed | Supports U.S. role in global infrastructure |
Board Governance
- Board structure: 5 directors; classified board. Heimert is in the first class; her term expires at AEAE’s first annual meeting of stockholders .
- Committees:
- Compensation Committee: Members – William Campbell, Michael Salvator (Chair), Kimberly Heimert; all independent under Nasdaq and SEC rules .
- Nominating & Corporate Governance Committee: Members – William Campbell (Chair), Daniel Shribman, Kimberly Heimert; all independent .
- Audit Committee: Members – Daniel Shribman (Chair), Michael Salvator, William Campbell; Heimert is not on Audit; Salvator designated “audit committee financial expert” .
- Attendance/Engagement: Nominating & Corporate Governance Committee “has not met” to date; no specific board meeting attendance rates disclosed .
- Independence: AEAE identifies Heimert as independent for committee service .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Director Cash Retainer | None paid (pre-business combination) | Company states officers and directors have not received cash compensation; may receive compensation following a business combination . |
| Committee Membership Fees | Not disclosed | No director cash compensation disclosed pre-business combination . |
| Committee Chair Fees | Not disclosed | No director cash compensation disclosed pre-business combination . |
| Meeting Fees | Not disclosed | No director cash compensation disclosed pre-business combination . |
AEAE disclosed CFO consulting fees; these do not apply to Heimert’s director compensation .
Performance Compensation
| Source | Award Type | Shares/Value | Vesting/Conditions | Notes |
|---|---|---|---|---|
| Sponsor (AltEnergy Acquisition Sponsor LLC) | Contingent equity (from Sponsor-owned shares) | 26,000 shares | Only upon completion of initial business combination; after lock-up provisions lapse; subject to forfeiture provisions | Allocation from Sponsor’s shares; not a company RSU/option grant . |
- AEAE disclosed that each officer and director owns interests in the Sponsor entitling them, under certain circumstances, to receive shares after lock-up lapses; Heimert specifically “will be entitled to acquire 26,000 shares” if a business combination is completed .
- No director RSUs/PSUs/options, performance metric frameworks (TSR, EBITDA, ESG), or grant dates are disclosed for Heimert .
Other Directorships & Interlocks
| Company/Organization | Role | Committee Roles | Potential Interlock/Conflict |
|---|---|---|---|
| Public company boards | None disclosed | N/A | No public company directorships disclosed for Heimert . |
| Energy Transition Advisory Group LLC | CEO | N/A | Fiduciary duty to ETAG disclosed; potential pipeline overlap managed via AEAE’s conflict policy . |
| Wahba Institute (Wilson Center) | Advisor/Contributor | N/A | Policy/think-tank engagement; not a commercial interlock . |
- AEAE lists fiduciary/contractual obligations for all officers/directors; for Heimert, ETAG is the only listed entity, with AEAE’s policy that such opportunities must be presented first to the applicable entity before AEAE, and affiliate deals require an independent fairness opinion .
Expertise & Qualifications
- Senior legal executive across energy/infrastructure finance with government and private equity exposure (Africa50, OPIC/DFC, DOE LPO) .
- Founder/operator experience in energy transition advisory and policy engagement (ETAG; Wahba Institute at Wilson Center) .
- Not designated as AEAE’s audit committee financial expert; brings governance/compensation and nominating expertise via committee memberships .
Equity Ownership
| Item | Amount | As-of Date |
|---|---|---|
| AEAE shares outstanding (Class A + Class B) | 6,488,146 (6,238,146 Class A; 250,000 Class B) | March 20–24, 2025 |
| Heimert – direct beneficial ownership | Not disclosed/none indicated in tables | March 20–24, 2025 |
| Contingent equity via Sponsor allocation | 26,000 shares (post-Business Combination) | Contingent, timing per lock-up lapse |
- Sponsor beneficial ownership: AltEnergy Acquisition Sponsor LLC holds 5,750,000 shares; control attributed to CEO Russell Stidolph as Sponsor manager (Heimert has an interest but direct beneficial share count for Heimert is not listed) .
Governance Assessment
- Strengths:
- Independence and active committee roles (Compensation; Nominating & Corporate Governance) support governance oversight and board self-evaluation functions .
- Deep energy/infrastructure legal and financing background aligns with AEAE’s alternative energy focus and potential target evaluation .
- Audit committee “financial expert” designated within board (Salvator), and clear audit/related-party review processes; Heimert’s roles complement governance rather than audit .
- Risks/Red Flags:
- Sponsor-linked equity economics: Heimert’s entitlement to Sponsor shares (26,000) contingent on completing a business combination may bias decision-making toward consummation, though AEAE requires an independent fairness opinion for affiliate transactions and discloses voting agreements for founder/public shares .
- Engagement signal: Nominating & Corporate Governance Committee “has not met” to date, which may indicate limited formal activity prior to the business combination; investors should monitor committee engagement as AEAE approaches or completes a transaction .
- Ownership concentration: Sponsor controls 5,750,000 shares (~78–78.5% of outstanding), which can dominate governance outcomes and reduce minority influence pre-business combination .
Overall, Heimert’s independence, relevant sector expertise, and committee roles are positives for governance effectiveness; however, SPAC-specific incentives (Sponsor share entitlements and voting agreements) and limited committee activity to date are notable governance risk factors that could affect investor confidence around transaction decisions .