Date: January 14, 2008
Source: Lakeside Energy, LLC.
Lakeside Energy Announces Entry Into North American Renewable Energy Partnership
Lakeside Energy LLC (Lakeside), a Chicago-based energy company, today announced that it has made a significant investment in a North American renewable energy partnership, Dongara Pellet Plant LP (Dongara). The business of Dongara will be to develop, own and operate renewable energy facilities in North America. Lakeside's partners in this venture are affiliates of Borealis Infrastructure, the infrastructure investment entity of Ontario Municipal Employees Retirement System (OMERS), one of Canada's largest pension plans with over Cdn$50 billion in assets, Toronto-based Strada Group and Marel Group and an affiliate of U.S. based Nautilus Renewables LLC. Lakeside's equity sponsor is American Securities Capital Partners, LLC.
Dongara will manufacture a clean and renewable engineered fuel product from municipal solid waste. A process patent has been issued in the U.S. and others are pending in Canada and Europe. Benefits of such a proprietary process include reduction in the need for landfills and landfill space, reduction of methane emissions from landfills (methane is a greenhouse gas with 21 times the potency of CO2), as well as reduced truck emissions due to the streamlining of waste pick up and ultimate waste drop off. The engineered fuel produced will be designed and manufactured to be a competitive substitute for fossil fuels and traditional biomass. It will have a heat content of 10,000 to 12,000 btu/lb, which is consistent with the heat content of typical steam coals, but will have a significantly cleaner emission profile.
The partnership currently has one 200,000 ton per year facility under construction in Canada that will begin operating in the second half of 2008. The engineered fuel produced will be capable of making 80 -100 MW of renewable energy. Construction of two additional facilities is anticipated in 2009. Long-term plans are to build as many as 20 plants in North America over the next 10 years.
Lakeside's CEO Bill Johnson stated, "We are excited to be involved with our new partners in this important energy platform and look forward to applying our capital and operating expertise to help assure its success."
Lakeside Energy, LLC
Lakeside is an acquisition focused energy company with readily available equity from American Securities Capital Partners (ASCP), a New York based private equity firm. Headquartered in Chicago, Lakeside targets power generation and related renewable energy businesses in North America requiring equity investments of $25 million to $200 million. Lakeside looks for companies with sustainable market positions, predictable cash flows, growth opportunities and reasonable risk management of fuel cost. Its business model is to create additional value in companies and assets through the implementation of operational and commercial improvements and support of the associated management teams. More information on Lakeside Energy LLC can be found at www.lakesideenergy.com.
American Securities Capital Partners, LLC
ASCP is a New York based private equity firm that invests in market- leading companies in North America with annual revenues generally ranging between $100 million and $500 million. Investments are funded from $4 billion of committed that ASCP manages on a discretionary basis for its investors. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune. ASCP has offices in New York and Shanghai. More information on American Securities can be found at www.american-securities.com.
Contact for Lakeside Energy LLC and American Securities Capital Partners Laura Brightsen lbrightsen@american-securities.com 212-476-4967 SOURCE Lakeside Energy LLC
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