Renegy Retains Genesis Select to Broaden Its Visibility in the Financial Community
25 Febrero 2008 - 9:00AM
Marketwired
TEMPE, AZ (NASDAQ: RNGY), a pure play renewable energy company
focused on acquiring, developing and operating biomass to
electricity power generation facilities, has retained Genesis
Select Corporation to initiate a comprehensive institutional
investor relations program. Genesis Select will assist Renegy in
building long term relationships with portfolio managers, buy- and
sell-side analysts, and the investment community at large; and
educate Wall Street on the investment merits of Renegy and its
vision to become a leading biomass to electricity independent power
producer in North America utilizing wood waste as a primary fuel
source.
"Genesis Select has a 10-year history of broadening awareness of
and generating significant investor interest in emerging growth
microcap companies as measured by both increased institutional
ownership and sell-side research coverage," said Bob Worsley,
chairman and CEO of Renegy. "I previously worked with Genesis
Select and was impressed with their established relationships
within the financial community and their ability to deliver solid
results."
Budd Zuckerman, president of Genesis Select, stated, "Renegy is
well positioned to address a growing demand for clean, sustainable
power, and to lead the biomass to electricity segment of the
renewable energy industry in North America. Its first biomass plant
is scheduled to come online in the second quarter of 2008 to supply
electrical power to Arizona's two leading utility companies. Renegy
has also identified and begun to explore multiple additional
biomass to electricity project opportunities totaling more than one
gigawatt (GW) of power output. In addition to operating a growing
portfolio of renewable energy facilities that convert organic waste
into electrical power, Renegy has built a world-class fuel
aggregation infrastructure and a solid fuel procurement strategy to
harvest, collect and transport wood waste material to power
existing and future biomass plants. Renegy's business model,
including stable, predictable revenues and cash flows derived from
long-term power purchase agreements with utilities, reinforces the
compelling investment proposition. These returns are further
boosted by government policies driving increased adoption of
renewable energy sources, including federal production tax credits,
state-mandated Renewable Portfolio Standards (RPS), and other
incentives.
"We have a long history with Bob Worsley who has proven himself
as a successful entrepreneur and visionary in past endeavors,"
added Zuckerman. "We are confident in his ability to execute on his
vision for Renegy, and look forward to assisting the Company with
garnering additional support from an expanded investor base."
About Renegy
Renegy, based in Tempe, Arizona, is a green energy company
focused on acquiring, developing and operating a growing portfolio
of biomass to electricity power generation facilities. Renegy seeks
to rapidly grow its renewable energy assets with the goal of
becoming the leading independent power producer (IPP) of biomass
electricity in North America. Its first project is Snowflake White
Mountain Power (Snowflake), a 24 megawatt (MW) biomass facility
under construction near Snowflake, Arizona. This facility is
scheduled to begin supplying electrical power to Arizona's two
leading utility companies in the second quarter of 2008, and serves
as a solid foundation for the Company's growth. Find Renegy on the
Worldwide Web at www.Renegy.com.
About Genesis Select
Genesis Select Corporation is an independent investment advisory
and financial communications firm that specializes in micro through
mid-capital public companies. The firm's senior professionals
integrate knowledge and expertise gained over 50 years at prominent
Wall Street firms. Genesis Select works closely with clients to
maximize shareholder value through strategic institutional investor
relations and financial communications programs. Find Genesis
Select on the Worldwide Web at www.genesisselect.com.
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933, as amended, and the
Securities Exchange Act of 1934, as amended, and is subject to the
safe harbors created therein. These statements include, but are not
limited to, those regarding Renegy's ability to expand its
institutional investor base and secure sell-side research coverage;
the Company's growth strategy, prospects and future opportunities
for its business; Renegy's ability to capitalize on such growth
opportunities; the prospects and timing associated with commencing
commercial operation of the Company's first biomass plant; and the
financial projections for its business, including its ability to
deliver stable, predictable revenues and cash flows derived from
long-term power purchase agreements with utilities. These
statements are subject to risks and uncertainties that could cause
actual results and events to differ materially from those expressed
in the forward-looking statements. These risks and uncertainties
include, among others: the risks associated with the development,
generally, of the Company's overall strategic objectives;
successful management of Renegy's business; that the Company may
not be able to accurately predict future market opportunities and
growth prospects for its business; the existence of unanticipated
technical, commercial or other setbacks related to the Company's
power facilities, including construction delays or cost overruns;
that the Company will not be able to secure the necessary
financing, permits, power purchase agreements or an adequate,
low-cost supply of fuel for its biomass plants; changes in the
environmental requirements relating to certain emissions; possible
fluctuations in economic conditions affecting the markets for
Renegy's product and service offerings; the risk that a market may
not develop or be maintained for Renegy's product and service
offerings; that there may be unanticipated events that could impact
the Company's ability to successfully manage its business; that
Renegy may be unable to maintain current or develop future
strategic or customer relationships for its electricity output,
fuel supply, or other products and services, including with utility
customers; and the other risks set forth in the Company's most
recent Form 10-QSB filed with the Securities and Exchange
Commission. The Company undertakes no obligation to update any
forward-looking statements to reflect new information, events, or
circumstances occurring after the date of this release.
CONTACT: Megan Meloni Investor Relations (650) 631-2847
Renegy Holdings (MM) (NASDAQ:RNGY)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Renegy Holdings (MM) (NASDAQ:RNGY)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024