Laidlaw Energy to Acquire California Biomass Plant

Laidlaw Energy Group, New York, N.Y., USA, reported this week that it intends to acquire a 14 MW biomass-energy power plant from California-based Renegy Holdings Inc. and certain other affiliated shareholders. Laidlaw noted that the acquisition is part of a larger growth and diversification strategy it has been working on for some time. The company does not anticipate any significant complexity with this transaction and anticipates closing on the acquisition within 45 – 60 days.

Laidlaw added that it shortly expects to announce another major acquisition. In addition, President and CEO Michael B. Bartoszek said that the company has "been working to add highly qualified project management personnel to our team so that we have the necessary resources in place to manage multiple projects across the U.S."

Bartoszek further stated that "we are very pleased to be moving forward with the expansion of our business model to the West Coast. We are very excited about the California market for alternative energy and the opportunities it presents. We are also excited about the prospect of a close working relationship with Bob Worsley and his team." Worsley is the president and CEO of Renegy as well as the founder and former president and CEO of Skymall Inc.

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