Green Energy Renewable Solutions Merges with Cirque Energy II
ITHACA -- Ithaca-baesd Cirque Energy II LLC, a privately owned renewable energy development company based in Michigan, has merged with Detroit-based Green Energy Renewable Solutions Inc., LLC, developer and operator of municipal solid waste and construction and demolition waste processing and recycling facilities.
Cirque's executive management team, consisting of Tom Coté, Roger Silverthorn and Richard Fosgitt, will become officers of Green Energy. Silverthorn and Coté will also join the company's board of directors. Frank O'Donnell will continue as chairman of the board and Joe DuRant and Dan Garmin will continue as directors.
Green Energy will be the surviving corporation, although it intends to change its name to Cirque Energy Inc. and the surviving corporation intends to apply for a new trading symbol. The new Green Energy management team is comprised of O'Donnell, chairman of the board; DuRant, CEO; Roger Silverthorn, CFO; Tom Coté, COO; and Richard Fosgitt, design and development officer.
The company will remain based in Detroit. It currently has seven employees.
Cirque Energy has experience in the development, design, financing, construction, and operation of landfill operations, renewable energy and traditional distributed generation power projects. Green Energy says the addition of the Cirque management team provides Green Energy with capabilities that will enable the company to successfully transition from planning to operations in the near term. Cirque also brings project opportunities that are expected to rapidly mature and financing resources that will facilitate securing contracts and implementation.
"Our merger with Cirque came together as a result of our shared vision to create a unique energy development company that provides end-to-end expertise in the development, implementation and operation of renewable energy projects that conserve natural resources and minimize negative environmental impact," said CEO Joe DuRant. "Cirque's senior management team brings skills sets and expertise that are unparalled in the energy development industry and our combined strengths will enable Green Energy to successfully transition from a development stage company to a full operating company with the capability to execute and finance renewable energy projects. Cirque Energy has developed a diversified portfolio of potential renewable energy projects that are ready for implementation and which carry with them above-market return on investment."
Added Tom Coté, president and CEO of Cirque Energy: "By leveraging Green Energy's expertise in landfill operations and deploying processes and technologies that focus on converting materials typically considered waste into a fuel to create renewable energy, our environmentally sustainable projects will deliver positive results now and for the foreseeable future."
More at www.cirque-energy.com.
