Renegy Holdings, Inc. (RNGY) is scheduled to commence trading today on the NASDAQ Capital Market.
The company was formed from a merger between Catalytica Energy Systems, Inc. (formerly (NasdaqGM:CESI) and the renewable energy divisions of NZ Legacy, LLC.
Bob Worsley, chairman and CEO of Renegy, stated, “The closing of this transaction paves the way for us to execute a rapid growth strategy towards our goal of becoming the leading biomass energy provider in North America and a premiere provider of cost-effective emissions compliance solutions for the coal-fired power industry.”
Renegy, based in Tempe, Arizona, is focused on acquiring, developing and operating renewable energy facilities and providing emissions compliance solutions for the coal-fired power generation industry. Its first project is Snowflake White Mountain Power, a 24 megawatt biomass facility
The facility is scheduled to begin supplying electrical power to Arizona’s two leading utility companies in the first half of 2008.
Renegy also offers a variety of services for coal-fired power plants that use selective catalytic reduction (SCR) systems to reduce nitrogen oxides (NOx) emissions. These services are offered through our SCR-Tech subsidiary and include SCR catalyst management, cleaning and regeneration, as well as consulting services to help power plant operators optimize efficiency and reduce overall NOx compliance costs.
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