For Immediate Release
November 24, 2009
Ewing Bemiss & Co. Announces that New Energy Capital, LLC has sold Greenville Steam Company to Gallop Power Greenville, LLC
Richmond, Virginia – Ewing Bemiss & Co. is pleased to announce that New Energy Capital, LLC (“NEC”) has sold Greenville Steam Company (“GSC”) to Gallop Power Greenville, LLC. Ewing Bemiss & Co. served as the exclusive financial advisor to NEC in this transaction. The terms of the transaction were not disclosed.
GSC operates a 19 megawatt wood-fired renewable energy power plant (the “Facility”) located in Greenville, Maine. The Facility was originally built in 1987, and was purchased by NEC in 2005. NEC performed an extensive refurbishment to the Facility, installing a bubbling fluidized bed boiler and state of the art emissions control systems. This renovation turned GSC into one of the cleanest and most optimally-tuned biomass facilities in the country, and qualified the Facility to sell renewable energy certificates in the Commonwealth of Massachusetts.
Ewing Bemiss & Co. is an investment bank focused on delivering superior service and optimal results to middle market companies. The GSC transaction adds to Ewing Bemiss & Co.’s strong experience in the Alternative/Renewable Energy and Environmental Services sectors.
Founded in 1992, Ewing Bemiss & Co. provides merger and acquisition advisory, private capital formation, financial restructuring and strategic advisory services. Ewing Bemiss & Co. provides extensive transaction experience and a strong relationship orientation to clients and is widely recognized for in-depth sector knowledge and expertise in several industries, including Alternative/Renewable Energy and Environmental Services, Healthcare and Business & Technology Services.
For more information, please visit www.ewingbemiss.com, or contact:
Mary Bacon, Managing Director, (804) 780-1912, m.bacon@ewingbemiss.com
Brent Belding, Vice President, (804) 780-1914, b.belding@ewingbemiss.com