Press releases
August 1, 2008, Gilman, VT: Subject to state and Federal regulatory approvals, Ampersand Gilman Energy LLC (AGE) today acquired the Gilman mill assets located on the Vermont-New Hampshire border between Gilman, Vermont and Dalton, New Hampshire. The assets consist of a former paper mill, a hydro-electric generating station, and a steam turbine, as well as over 260 acres of land. AGE is controlled by Boston-based Ampersand Energy Partners LLC and includes a number of local investors as well. The firm focuses on investments in small, renewable energy production facilities in the US and Canada. Ampersand expects to be able to capitalize on its existing relationships with local utilities and the development team already in place to pursue the project to successful completion. The project is expected to be completed in stages during 2008 and 2009. Ampersand Energy Partners is a Boston-based private equity fund specializing in late stage development and acquisition of small renewable power projects.
"We're pleased to have the opportunity to work closely with the people of Gilman and Dalton to maximize opportunities at the site," said Ampersand Vice President Keiko Nomura. Ms. Nomura emphasized that Ampersand is a long term investor, and prides itself on being a good corporate citizen. Ampersand expects to coordinate its activities with the state of Vermont so as to contribute to the overall economic development of the region.
Ampersand emphasizes the importance of proceeding on a sound economic foundation when pursuing activities at the site. According to Nomura, the firm will start by optimizing the hydro-electric operations, followed by an assessment of the potential for biomass generation at the site. Simultaneously, Ampersand will actively solicit proposals for sustainable long term usage of the other facilities at the site, including the paper mill. Nomura notes that Ampersand is open-minded about the activities at the site, provided that they are compatible with the firm's electricity production plans. Nothing has been ruled out, she notes, though she also cautioned that it will take some time before additional employment posts will be created at the site.
December 17th, 2007 Boston, MA: Ampersand Energy Partners today launched the continued sale of units of its Ampersand North American Hydro Fund II ("Fund II").
Fund II has the potential to provide investors with growth with income through its acquisition and development of small hydro facilities. These environmentally friendly facilities benefit from low marginal operating costs, well understood technology, and the potential for additional revenues from the sale of renewable energy credits.
Ampersand emphasizes that the units have not been registered or approved by any government authority, and should only be considered for purchase by experienced investors who can afford to lose their entire investment. Investors will be required to fill out an accredited investor questionnaire and to review detailed offering information prior to investing.
December 4th, 2007, Boston, Massachusetts: Ampersand Energy Partners today added to its growing portfolio of renewable energy facilities with the purchase of a small hydro station.
The facility, located in Maine, was purchased by a subsidiary of Ampersand North American Hydro Fund II. Ampersand Fund II focuses on the acquisition of existing small hydro stations and the licensing and construction of new small hydro stations. "We're very pleased to add this generating station to our fleet," said Ampersand president A.J. Goulding. "Ampersand officers Gilan Sabatier and Keiko Nomura have been working diligently on this transaction for several months." Goulding noted that Ampersand is actively pursuing additional small hydro acquisitions in the Northeast.
Ampersand expects that with its superior market knowledge, it will be able to fully optimize revenues from these plants by selling forward energy, capacity, and renewable energy certificates when appropriate. Ampersand Energy Partners is a growing Boston-based private equity fund manager focused on small capitalization power sector projects.
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