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NEWPORT BEACH, CA - December 2006 - The Courtney Group, Incorporated is pleased to announce the expansion of its private equity and investment banking practice to renewable energy and waste management technologies. The renewable energy private equity investments will made through a newly formed company, Nautilus Renewables LLC.
As part of the expansion, The Courtney Group will bring on board Rohn Crabtree, Eric Knight and Bruce Matheson, executives with experience as both operators and advisors in energy and renewables.
"We plan to work with companies in the rapidly changing sectors of energy, power, and waste management including renewable energy, waste fuel such as municipal solid waste, chemical waste processing, and electronic waste, biofuels, and agriculture-based or cellulose-based ethanol." Thomas W. Courtney, Jr., President of The Courtney Group, said.
Rohn Crabtree is an experienced operating executive who has led dozens of financings totaling over $3 billion. His areas of experience include solar, wind, biomass, geothermal, and energy projects fueled by coal and gas. Eric Knight and Bruce Matheson are project finance and corporate finance experts formerly with Bear Stearns and Scotia Capital respectively who had worked with Mr. Crabtree for over 10 years. Together the expanded team has done over 300 transactions representing about $7 billion in value including experience at prior firms.
"In 1999 and 2000 Rohn and Bruce shared awards for 'Deal of the Year' for innovative financings they created in the energy and power industry, and our team already has some exciting projects underway," said Mr. Courtney. "We're working on developing a fleet of ethanol plants. We're working with a business that prevents hazardous waste from going to landfills by converting ash from steel mills into useful products such as abrasives and building materials. We're doing a technology roll-out of plants that convert municipal solid waste into energy, avoiding landfills and creating a much better carbon footprint. Chemical waste processing, and electronic waste disposal that creates useful industrial gases round out our initial activities in this area."
The following are some factors driving increasing interest in commercial technologies that produce renewable fuels and other valuable commodities as by-products of waste management:
- Increasing pressure to reduce green house gases;
- High fossil fuel prices;
- Limited range of fuel alternatives that are reliable, can be produced in significant volumes, and are cost-effective;
- Mandates for renewable energy from Kyoto and major corporations, as well as voluntary U.S. and Canadian standards being established;
- Progressively higher waste disposal costs faced by municipalities and corporations near high density population areas;
- Population growth and per capita waste disposal growth trends that make energy supply and waste treatment increasing areas of concern and which can be addressed by investment in today's more effective technologies.
With Nautilus Renewables LLC The Courtney Group expects to work with companies that have commercially proven technologies to provide financing and technical support in rolling out their business model. The ideal situation is a company that wants to build 10 to 50 units or more of the same kind of plant. Especially in light of a rapidly changing business climate, the team brings the contacts and in-depth expertise to roll-out multiple plants in a 'cookie cutter' fashion, on time, on budget, and on track with the expected performance.
Many technology companies have breakthrough technology but not the skill set to design, finance and build multiple plants in rapid succession. That is part of the value The Courtney Group and Nautilus Renewables can add. They also see opportunities to connect different technologies together.
"In some cases we will work as advisors, helping companies raise debt and equity capital, or negotiate contracts," explained Mr. Courtney. "In other cases we will act as principals, for instance, building and operating a plant that processes chemical by-products into useful products. Because of our deep knowledge of the industry and the players, we can see opportunities to improve processes and create efficiencies that others with less experience don't see."
About The Courtney Group
The Courtney Group, Incorporated is a merchant banking firm, working with companies in some cases as an advisor on capital raising and M&A assignments and in other cases as principal, investing for its own account. Formed in 1995 The Courtney Group specializes in working with middle market companies with revenues of $5 million to $500 million in the following industries: renewable energy, environmental services, manufacturing, technology, health care, and financial services. Investment banking activities are carried out by The Courtney Group, LLC, member NASD and SIPC. For further information please see: www.thecourtneygroup.com
For additional information contact:
Ms. Rachel Runion
The Courtney Group, Incorporated
500 Newport Center Drive, Suite 580 | Newport Beach | California 92660
949-706-3600 Tel
949-625-7900 Fax
http://www.thecourtneygroup.com
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