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lilpuppy6

12/20/10 8:22 AM

#82692 RE: powerofthepenny #82682

American Renewables was founded in 2008 when its three partners -- BayCorp Holdings, Energy Management, Inc. (EMI) and Tyr Energy created the company to handle development of new renewable energy projects.

The partnership began in 2005, when BayCorp and EMI joined forces to develop utility-scale biomass projects. They purchased the Nacogdoches Power site (originally a natural-gas development project), acquired required easements, completed permitting for a biomass facility and signed a long-term power purchase agreement. In addition, they began developing two additional projects.

Then in August 2008, Tyr Energy joined BayCorp and EMI to provide additional development capital and asset management expertise to the partnership. American Renewables was founded in 2008, and joined BayCorp, EMI and Tyr Energy, who all have ownership in American Renewables.

A. BayCorp is a holding company incorporated in Delaware in 1996. In 2005 BayCorp became part of the Tavistock Group of companies -

B. Energy Management, Inc. is a privately-held energy company with more than 30 years of experience in energy conservation and energy development.

C. Tyr Energy, Inc ,Owned by ITOCHU Corporation, a $51.6 billion international trading conglomerate and its U.S. based subsidiary, ITOCHU International, Inc., Tyr Energy acquires and owns equity interests in North American independent power assets and provides asset management services to facilities it owns