Ireland-based Imperative Energy forms partnership with biomass combustion systems supplier Northline Energy of Lynnwood, Washington, to expand U.S. presence; proposes development of Bio-Park in Taunton, Massachusetts
WASHINGTON, D.C. and DUBLIN, Ireland
March 20, 2012
– Imperative Energy Ltd (Imperative), a leading provider of biomass heat and power solutions in the UK and Ireland, today announced two corporate milestones that will substantially expand its presence in the U.S. market and bring novel new biomass energy options to industrial and commercial customers. The first is a partnership with Northline Energy, a Lynnwood, WA-based provider of biomass combustion systems. The collaboration blends Imperative's project finance and project development expertise with Northline's U.S.-based technical team to offer fully financed biomass solutions to users under long-term Energy Supply Agreements. A project pipeline with a capital expenditure of over $100 million in the next few years is already planned.
The second corporate development is a proposed Bio-Park in Taunton, MA. The park is modeled on a similar campus in Co. Mayo, Ireland designed by Imperative and partner, J.P. Prendergast. The MA Bio-Park will incorporate a biomass-fired CHP plant, wood pellet production facility and biopharma facility. A planning application for the Irish campus was recently submitted, while a detailed feasibility study has already been initiated for a $10+ million Taunton project.
The announcements were made following a business networking lunch in Washington, DC hosted by Enterprise Ireland. Attending the lunch was Ireland's Prime Minister Enda Kenny. The Prime Minister is in town with a trade mission and for official meetings to celebrate St. Patrick's Day. Enterprise Ireland is the Government agency responsible for the growth and development of Irish companies in international markets.
Imperative and Northline are connected through a Swiss-based manufacturer of bioenergy technology, Schmid AG. According to Northline's CEO Ron Kirkendorfer, "Formalizing the relationship with Imperative Energy is one of the easiest business decisions we have made in some time. Both of our teams share access to best-in-class Swiss technology, we are similar in size and background, and we share a common vision on how to develop the biomass sector in the U.S. through Energy Contracting."
Joe O'Carroll, Managing Director at Imperative Energy, said, "The fundamentals for growing the biomass opportunity are: availability of sustainable biomass resources, rising fossil fuel prices, increasing energy demand, and strong policy and regulatory support for renewable energy. All of these factors are in play in many regions across the U.S., particularly in New England and the Pacific Northwest. While our initial focus will be in these locations, our partnership with Northline broadens our reach to all parts of the U.S."
O'Carroll cited the role that the Global Cleantech Cluster Association Awards had in Imperative's recent acceleration of the business in international markets, "In November 2011, following a nomination by The Green Way, Ireland's Cleantech Cluster, Imperative won the Best in Bioenergy category at the GCCA* Later Stage Awards. This accelerated our expansion into overseas markets, especially the U.S. and the Caribbean."
Imperative Energy, which was founded in 2007 in Co. Kildare, Ireland, is a leading supplier of bioenergy solutions (heat, steam and power) to the industrial, commercial and public sectors across the UK and Ireland. The company recently closed a round of fundraising, taking in investment from the Northwest Fund for Energy & Environment (NWF4EE) which is managed by CT Investment Partners and is part of the £185m North West Fund, which is provided jointly by the European Investment Bank (EIB) and European Regional Development Fund (ERDF). CT Investment Partners also advises the Carbon Trust on its venture capital activities and is one of the most experienced investors in this space.
With rising fuel costs and increasing demand for clean technology, Imperative Energy is perfectly placed to take advantage of the opportunities that a growing alternative energy market presents.
About Imperative Energy:
Imperative Energy offers a full turnkey service to customers, from feasibility, design and equipment supply and installation through to full financing, fuel supply, operation and maintenance of plant. This provides customers the option of owning and operating biomass energy plants themselves or of having the plants built on-site for them to benefit from the renewable energy without having the capital expense of owning the plant or the need to operate it themselves. Projects financed by Imperative for customers are called ESCOs and they represent a highly attractive investment class whilst also being a long term provider of sustainable base-load energy.
For information on Imperative Energy, please visit www.imperativeenergy.com
Northline Energy, a leader in renewable biomass technologies, provides cost-efficient systems and equipment to organizations and companies seeking the benefits of local, sustainable, and economically stable fuel sources. Established in 1994, Northline Energy has completed public, industrial and distributed heating projects including K-12 schools, universities, hospitals, and municipal buildings ranging from 80kW to 25 MW steam plants.
Northline Energy's recent execution of an exclusive distribution agreement with Schmid AG for the USA and Canada represents the commitment to best of class equipment and dedication to service. Through productive partnerships, Northline continues to support a full range of equipment and turn-key biomass energy solutions.
For information on Northline Energy, please visit www.northlineenergy.com
The Global Cleantech Cluster Association creates conduits for companies to harness the tremendous benefits of international cleantech cluster collaboration in an efficient, affordable, and structured way. Global Cleantech provides a gateway for established and emerging cleantech companies to gain exposure to potential investors, new markets, influential networks, innovative technologies and best practices. GCCA was founded by swisscleantech, the Finnish Cleantech Cluster, and Watershed Capital Group. The GCCA Later Stage Award is sponsored by Grant Thornton International. For more information about Global Cleantech, please visit www.globalcleantech.org.