Friday, March 20, 2009

The Pitch

Clean Power Development to sell biomass-fueled energy

By Mass High Tech staff

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Clean Power Development LLC
Headquarters: Concord, N.H.
Employees: 3
Founded: 2006
Web: www.cleanpowerdevelopment.us
E-mail: mel@cleanpowerdevelopment.us
Phone: 603-224-1317
The Pitch: The company is seeking funding to accelerate biomass-fueled electric co-generation projects in New England.

PITCHING THE TECHNOLOGY
Clean Power Development develops wood-fueled biomass-energy facilities. Clean Power says it plans to generate revenue by producing electricity, steam and hot water for sale. Additional sources of revenue include sale of renewable energy credits.

PITCHING THE PEOPLE
Who is on the management team? Mel Liston, president; Peter Bloomfield, vice president; Alex Driessen, treasurer; Bill Gabler, project manager and government relations manager.

Have executives been involved in a cashout prior to this venture? Liston was involved in selling the Pinetree Power Inc. biomass energy projects in Bethlehem and Tamworth, N.H., to Westinghouse Electric Corp.

Who is on the board of advisers? The company has not yet formed a board.

PITCHING THE BUSINESS
How much money is being sought? Clean Power Development is seeking $3 million.

What partnerships, collaborations or affiliations are already in place? The company says it has partnerships with Three C Electric Co. in Ashland, and Energy Resources Group Inc. in Farmington, N.H.

List any federal or state grants, contracts or awards received: None.

What’s the market size being pursued? New Hampshire has committed to generating 25 percent of its electricity from renewables by 2025, and to do that, it will need to use biomass as an energy source.

Who are the likely competitors, direct or indirect? The company says its competition comes from other renewable energy companies.

Is the company profitable? No.