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 Tarrytown, NY - Environmental Power Corporation (NASDAQ:EPG), a leader in the renewable bioenergy industry, announced that it has completed its move to its new corporate headquarters in Tarrytown, NY.
The company’s relocation from its previous headquarters in Portsmouth, New Hampshire, positions Environmental Power to execute on a deep pipeline of renewable energy facilities through greater access to the region’s financial community.
“We have a strong array of renewable energy projects across the country, both under construction and under development,” said Rich Kessel, President and Chief Executive Officer of Environmental Power. “With the company poised for significant growth in the coming years, it is more important than ever for us to have a close connection to the financial community in the New York region where many of our largest investors are located. In addition, we are encouraged by the forward-looking positions that state and Federal elected officials in New York and nearby states place on renewable energy and by the diversified pool of talent in the metropolitan New York area, especially candidates with expertise in engineering and the energy industry.”
The company will initially employ approximately 20 people at the headquarters but expects to grow to 30 full-time employees over the next year.
Environmental Power’s wholly owned subsidiary, Microgy, Inc., develops renewable energy facilities that generate methane-rich biogas from agricultural and food industry waste. This biogas can be conditioned to natural gas standards and distributed via a commercial pipeline as renewable natural gas (RNG®).
Microgy currently operates four facilities, including Huckabay Ridge, the largest RNG facility in North America, which produces an annual 635,000 MMBtu of RNG – the energy equivalent of 4.5 million gallons of heating oil. The company’s project pipeline includes a number of large-scale facilities under active development in California, Texas, Nebraska and early-stage projects being developed with the assistance of Cargill, Incorporated.
“We are in a prime position to capitalize on the growing need for green, cost-effective, domestically-produced energy,” said Kessel. “Our RNG is fully compatible with existing transportation and generation infrastructure and can help utilities work towards state Renewable Portfolio Standards. In addition, our facilities prevent methane emissions and therefore generate a significant amount of greenhouse gas offset credits.
“As we complete this move, we are also very mindful -- and appreciative -- of the support that the Portsmouth community has offered Environmental Power and its employees throughout our growth and evolution,” Kessel concluded.
ABOUT ENVIRONMENTAL POWER CORPORATION
Environmental Power Corporation is a developer, owner and operator of renewable energy production facilities. Its principal operating subsidiary, Microgy, Inc., holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology for the extraction of methane gas from animal wastes and other organic waste for its use to generate energy. For more information visit the Company's web site at www.environmentalpower.com.
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