ThermaSource –
A sentence from a Montserrat Government press release published in The Montserrat Reporter:
A tremendous breakthrough has been achieved with the signing of a contract on Wednesday June 10, 2009, between the Government of Montserrat and EGS, Inc an American firm for Phase 2 of geothermal exploration on Island.(1)
A paragraph from a Reuters article:
EGS, Inc. provides a full range of geothermal exploration and development
services worldwide. With experience in water resources, hazardous waste, air
quality management, and renewable energy project development, EGS, Inc. is well
situated to assist with any geothermal needs. EGS, Inc. geologists have
extensive geothermal field experience, both domestically and internationally,
making EGS, Inc. the leading geothermal exploration services provider in the
United States. In April 2008, EGS, Inc. became a subsidiary of ThermaSource LLC,
a Santa Rosa, Calif. based geothermal drilling company. For more information,
please visit: www.thermasource.com. (2)
Three paragraphs from the ThermaSource company website:
http://www.thermasource.com/
“ThermaSource, LLC Completes $41.5 Million Private Equity Financing
ThermaSource LLC, one of the fastest growing providers of drilling, engineering and consulting services to the renewable geothermal energy sector, is pleased to report the completion of a new round of private equity financing, raising $41.5 million from Riverstone Holdings LLC, US Renewables Group, and Rustic Canyon Partners. ThermaSource is using these resources to finance the acquisition of geothermal drilling rigs and to develop the associated drilling services including engineering, mud-logging, cementing and exploration. The initial equity investment in February of 2007 by Riverstone and US Renewables Group was $20 million. To date, ThermaSource has raised $93 million of equity and debt over the past two years. The company expects to double employment, from 210 currently to more than 420 by the end of the year, as it expands operations domestically and internationally. “This equity investment represents a solid endorsement of our business strategy, which indicates we are delivering on our business plan and have established a platform for long term, sustained growth,” said Louis E. Capuano, Jr., president and CEO of ThermaSource LLC. For more information about ThermaSource, visit www.thermasource.com
About Riverstone Holdings LLC
Riverstone Holdings LLC and The Carlyle Group jointly sponsor the Riverstone/Carlyle energy funds. Riverstone, a New York-based energy and power-focused private equity firm founded in 2000, has approximately $13.7 billion under management. Riverstone conducts buyout and growth capital investments in the midstream, upstream, power, oilfield service, and renewable sectors of the energy industry. To date, the firm has committed $8.5 billion to more than 51 investments across each of these five sectors, involving $70 billion of assets.
The Carlyle Group is one of the world’s largest private equity firms, with over 60 funds across four investment disciplines (buyouts, venture & growth capital, real estate and leveraged finance) totaling more than $81.1 billion under management. Carlyle’s more than 575 investment professionals operate out of offices in 21 countries in North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America, covering a wide range of industries (aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, infrastructure, real estate, technology & business services and telecommunications & media).” (3)
Sources:
(1) http://www.themontserratreporter.com/index.pl/article_local?id=3235895
(2) http://www.reuters.com/article/pressRelease/idUS73827+04-May-2009+BW20090504
