Denham Capital, a leading energy-focused global private equity firm, announced today that it will invest equity of up to R1,5 billion (US $150 million, 95 million pounds Sterling) in BioTherm Energy, a South African developer, owner and operator of renewable and clean energy generation projects. Commenting on Denham Capital’s investment, Buyelwa Sonjica, South Africa Minister of Minerals and Energy said, “Having opened BioTherm’s... Read more..
Raser Technologies, Inc. announced that Prudential Capital Group, an institutional investment division of Prudential Financial, Inc., purchased the permanent debt financing for Raser’s 10 megawatt (MW) Thermo geothermal power project near Beaver, Utah, from the original project financier. The approximately $31 million of non-recourse debt financing helped construct the Thermo geothermal power plant which completed major construction elements last... Read more..
Inergy, L.P. announced that The National Association of Small Business Investment Companies (NASBIC) has named Inergy a recipient of its 50th Anniversary “Impact Awards.” Inergy is being honored at a luncheon presentation today during the NASBIC’s 50th Annual Meeting & Private Equity Conference. Inergy – along with Intel, the world’s largest semiconductor company, and Quiznos, a national franchise company with over 5,000 restaurants... Read more..
Synthesis Energy Systems, Inc., a global industrial gasification company, today announced that due to the difficult financial environment, SES and CONSOL Energy (“CONSOL”) will cease funding of the front-end engineering design package for the Benwood, West Virginia synthetic gasoline project. With the lack of advancement of the project, the joint development agreement (“JDA”) between SES and CONSOL expired according to its... Read more..
Odyne Corporation, a clean technology company that develops advanced hybrid electric vehicle propulsion systems, announced today that the Company has retained Matrix USA, LLC as its financial advisor to evaluate the company’s strategic alternatives, including a possible sale of the company, a strategic partnership, a technology licensing agreement, or an additional raise of equity capital. The Company said there can be no assurance that any transaction... Read more..
Cano Petroleum, Inc. announced that on October 1, 2008 it completed the previously announced sale of its subsidiary, Pantwist, LLC, to Legacy Reserves Operating L.P. for $42.7 million. Net proceeds to Cano, after expenses and other customary adjustments, were $41.7 million. Net proceeds were used to pay off all the senior debt of Cano. Cano’s Senior Credit facility borrowing base will not be reduced as a result of the transaction. Jeff Johnson,... Read more..
Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle-market specialty industrial, healthcare, and financial services companies, today announced that it has signed a definitive agreement to acquire Ferro Corporation’s Fine Chemicals business, a leading manufacturer of electrolytes used in the manufacture of lithium ion batteries, as well as high performance intermediates for other key end products, for... Read more..
Lineage Power Corporation, a Gores Group affiliate and a trusted provider of energy-efficient AC/DC and DC/DC switching technologies, announced today that Greg Fasullo has been named vice president and general manager of the Energy Systems business unit. Fasullo will be based at the company’s Dallas headquarters and will be responsible for leading product strategy and growth opportunities for the Energy Systems business. “Fasullo has an extensive... Read more..