Energy Capital Partners Completes Acquisition of Coalogix
Aug 31, 2011
August 31, 2011 (Short Hills, NJ) – A subsidiary of Energy Capital Partners II, LP has completed the acquisition of 100% of the outstanding shares of CoaLogix, Inc. from Acorn Energy and EnerTech Capital Partners for a total consideration of $101 million.
Headquartered in Charlotte, North Carolina, CoaLogix is the established leader in selective catalytic reduction (“SCR”) management services and catalyst regeneration technologies used by coal-fired power plants to reduce nitrogen oxide (“NOx”) emissions. CoaLogix provides innovative, cost-effective solutions that help utility customers achieve and maintain compliance with increasingly stringent environmental regulations.
NOx emissions produced during fossil fuel power plant operations contribute to the formation of acid rain and smog in the atmosphere. SCR is the leading control technology for reducing NOx emissions from coal-fired power plants worldwide. Within an SCR system, power plant flue gas (or exhaust) reacts with a catalyst enabling a chemical reaction to transform NOx emissions in the exhaust stream into environmentally friendly, nitrogen and water vapor. Over time, catalysts in the SCR system must be replaced or regenerated to maintain effective NOx reduction. Through its proprietary process, CoaLogix regenerates deactivated catalysts to like new condition at a substantial discount relative to the cost of new replacement catalysts, while also eliminating the need for catalyst disposal and catalyst inventory storage for its customers.
“We are excited to partner with CoaLogix’s talented and experienced management team, which has established itself as the undisputed market leader for SCR catalyst regeneration in North America,” said Energy Capital Partner’s Schuyler Coppedge. “CoaLogix expands ECP’s participation in the environmental services business and commitment to clean and efficient energy production.”
CoaLogix CEO Bill McMahon said, “We look forward to joining forces with Energy Capital Partners whose substantial resources, sector expertise and power industry relationships will enable CoaLogix to continue to execute its expansion plans going forward.”
CoaLogix Inc. is focused on providing innovative services to fossil fuel-fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix is the leading provider of SCR management services and catalyst regeneration technologies used by fossil fuel-fired power plants to reduce NOx emissions. CoaLogix integrates leading-edge environmental controls, a highly skilled workforce, and more than 160 years of combined senior management experience in the environmental and power generation industries to provide innovative, cost-effective solutions that help its customers achieve and maintain compliance with increasingly stringent environmental regulations. For
more information, visit www.coalogix.com.
About Energy Capital Partners
Energy Capital Partners is a private equity firm with offices in Short Hills, New Jersey and San Diego, California. ECP has approximately $7 billion under management and is focused on investing in the power generation, electric transmission, midstream gas, renewable energy and environmental services sectors of North America's energy infrastructure. The fund's management has substantial experience leading successful energy companies and energy infrastructure
investments. For more information, visit www.ecpartners.com.