Twenty-five years ago, gasoline was a dollar a gallon, and the most advanced cell phone couldn't fit in a briefcase. Today, five-ounce smart phones can predict the weather while they sit in our pockets, yet we still rely on oil to fuel our cars, coal for electricity to power our computers, and natural gas to heat our homes. The evening news is rife with claims of peak oil, global warming, and dwindling energy supplies. The world's energy demands are getting bigger, not smaller, and we are headed for a crisis unless we act. While alternative, renewable and on-demand energy sources have been developed, a comprehensive solution to harness this energy has been missing from the market.
But now there is sPower.
At sPower, we bring the skills and resources to plan, fund, build and manage complex energy installations to meet the world's demands. With a management team that's proven its ability to think globally and manage complex organizations - both public and private, from start-up to IPO - sPower is uniquely qualified to develop a new future of energy independence.
Whether it is hydro, wind, solar, nuclear, or even technologies yet to be invented, sPower is ready to take on the world's energy challenges. At sPower, wherever we look, we see sustainable energy opportunities.
sPower's distributed generation facilities can offset peak power demands, while simultaneously helping utilities meet state-mandated Feed in Tariff (FiT) regulations.
Commercial energy clients include governmental entities such as cities, counties, school districts, universities and colleges; private facilities like large warehouses, distribution centers and manufacturing facilities; and private/public partnerships such as hospitals and sports arenas.
Steve at sPower is responsible for the development business strategy. He retired from EnergySolutions, Inc., a global nuclear services company (NYSE:ES) as Chairman and Chief Executive Officer early in 2010. Mr. Creamer co-founded EnergySolutions with other senior management and with a consortium of private equity firms in early 2005. In 1997, Mr. Creamer co-founded ISG Resources with private equity and served as its Chief Executive Officer from 1997 to 2002 when the company was sold to Headwaters, Inc. During those five years, ISG grew from a regional company to the largest marketer and manager of coal combustion products in the United States. From 2002 through 2003, Mr. Creamer served as an officer and a member of the Board of Directors for Headwaters, Inc. From 1990 to 1997, Mr. Creamer was the Chief Executive Officer and minority partner of ECDC Environmental, an industrial waste firm. From 1976 to 1991, he was the President of Creamer and Noble Engineers, a consulting engineering firm. Mr. Creamer began his career with the State of Utah as an engineer with the Department of Environmental Quality. Mr. Creamer holds a B.S. degree in Civil & Environmental Engineering from Utah State University. Currently, he serves on the board of Renewable Energy Development Corporation. Mr. Creamer also is a partner with Western Pacific Group, a small private equity fund focused on making long term investments in a wide cross section of companies.
Ryan at sPower is responsible for the daily operations and business development. He retired from EnergySolutions, Inc., a global nuclear services company (NYSE:ES) as Executive Vice President early in 2011. Mr. Creamer co-founded EnergySolutions with other senior management and with a consortium of private equity firms in early 2005. While at EnergySolutions Mr. Creamer was directly responsible for over two-thirds of the company operating income. In 2000, Mr. Creamer was the creator and developer of a light weight structural and insulated concrete know as Flexcrete for ISG Resources. He served as a project engineer and then Vice President of Flexcrete Building Systems, when the technology was later sold to Headwaters, Inc in their acquisition of ISG Resources. Prior to this Mr. Creamer worked as a project manager and project engineer on various infrastructure projects in the environmental and industrial industry. Mr. Creamer holds a B.S. degree in Civil & Environmental Engineering from the University of Utah. Mr. Creamer also is a partner with Western Pacific Group, a small private equity fund focused on making long term investments in a wide cross section of companies.
Chip at sPower is responsible for all of the accounting, financing, merger and acquisitions. Chip retired from EnergySolutions, Inc., a global nuclear services company (NYSE:ES) as Vice Chairman early in 2009 where he remains a member of the Board of Directors. He has served on the Board of Directors since July 2007. Mr. Everest has previously served on the Audit Committee and the Nominating Committees. He presently serves on the Corporate Responsibilities Committee. Mr. Everest served as its Executive Vice President and Chief Financial Officer from 2005 until August 2007. He currently serves as Chairman of the EnergySolutions Foundation. Mr. Everest co-founded EnergySolutions with other senior management and with a consortium of private equity firms. In 1997, Mr. Everest co-founded ISG Resources with private equity and served as its Chief Financial Officer from 1997 to 2002 when the company was sold to Headwaters, Inc. During those five years, ISG grew from a regional company to the largest marketer and manager of coal combustion products in the United States. From 2002 through 2003, Mr. Everest served as the Treasurer and Executive Vice President of Corporate Development for Headwaters, Inc. .Mr. Everest has held other senior financial management positions with various energy and environmental firms since 1989. Mr. Everest holds a B.B.A. degree from Southern Methodist University and an M.B.A. from the University of Texas. Mr. Everest is a member of the British-North American Committee of the Atlantic Council. Mr. Everest serves on several non-profit Boards including the National Cowboy and Western Heritage Museum in Oklahoma City and the Road Home (Utah's largest homeless shelter) and formally with Rowland Hall-St. Mark's School in Salt Lake City.
Ryan is responsible for the business development of the Solar Portfolio. Ryan was Vice President of Business Development for a Utah-based renewable energy company where he executed over 6 MW of PPA's in 4 states. Prior to that, he was a Founder and Executive Vice President for Solar Nation, a large commercial solar integrator with offices in Oregon, New Jersey, Hawaii and Ontario, Canada. Solar Nation has installed over 15 MW of distributed (primarily rooftop and net metered ground mount) solar generation facilities. During his tenure, Ryan helped Solar Nation grow from the original 6 founders to over 50 employees in 3 states, including Oregon, Pennsylvania and New Jersey. Prior to founding Solar Nation, Ryan practiced law in the areas of corporate securities, mergers and acquisitions and litigation. He was active in all aspects of corporate law including corporate formations, corporate compliance, corporate finance, initial public offerings, secondary offerings, PIPE transactions, private placements and corporate restructuring. Ryan has also practiced in the areas of renewable energy finance, policy and both state and federal energy regulations. Ryan is the Vice President and Board Member of the Utah Solar Energy Association, a founding member and board member of the ReNew PAC, a founding member and board member of the Utah Power Producers (UPP) and former member of the Legislative Subcommittee for the Oregon Solar Energy Industry Association (OSEIA). Ryan has a B.A. from the University of Utah and a Juris Doctor from the Creighton University School of Law.
Sean handles all power purchase agreements, contract negotiation, project financing and other legal matters for Sustainable Power Group (S Power). Sean has a long history in the renewable energy space, acting as Vice President and General Counsel of a Utah-based renewable energy company prior to joining sPower and as Associate General Counsel for Raser Technologies prior to that. In these positions, Sean led all legal aspects of project development, project finance, power purchase agreement negotiation, long-term debt financing, and tax equity financing for renewable energy projects. Sean has drafted and negotiated power purchase agreements with investor-owned utilities, municipal utilities and corporate power purchasers. At Raser, Sean oversaw the project financing (both debt and tax equity) for the company's Thermo geothermal power plant as well as its successful $33 million 1603 Grant application. Sean also assisted in structuring several corporate level financings, including a $55 million convertible note financing, a $25 million ATM program, a $20 million private placement financing and a $25 million registered direct offering. Prior to entering the renewable energy space, Sean worked for the law firm of Ballard Spahr, a national law firm based in Philadelphia. At Ballard Spahr, Sean's focus was public finance and included the financing of over $1 billion in a variety of municipal and state bond offerings. Sean received his Juris Doctor from Arizona State University where he graduated summa cum laude.
At sPower Jason directs and oversees the day-to-day operational activities of the company. His role involves overseeing due diligence for project acquisition and financing. He is heavily involved in managing and vetting projects, strategic partnership and community outreach programs. Jason manages the companies information systems as well as all marketing efforts , including project proposals, and RFP responses. Prior to joining sPower, Jason was the Executive Director a Utah-based developer of large-scale solar and wind projects for two years. During that time, Jason directed both Operational and Business Development efforts of the company. Before joining the Energy Sector, Jason was the Director of Business Development for (MWCI) Midwest Commercial Interiors ($45 million in annual sales) where he directed all state and federal government sales. He was responsible for managing a portfolio of over $30 million. Prior to MWCI, Jason served as head of Business Development at CLEARLINK ($25 million in annual sales) where he was directed customer acquisitions for major media companies in television, radio, and satellite. Prior to CLEARLINK, Jason served as Business Operations Manager at Progrexion ($80 million in annual sales) where he managed all affiliate relationships as well as ran all operations for the companies marketing division. Jason is a graduate of the University of Utah where he earned two Bachelor of Science degrees in Business Management and Business Marketing. Jason is a 2013 Executive MBA candidate from University of Utah's David-Eccles School of Business.
Brent evaluates project economics and project feasibility and manages the finances for Sustainable Power Group (s Power). Previously, Brent worked as the director of finance for a Utah-based renewable energy company, where he developed financial models for capital raises and project finance. Brent earned his MBA from UCLA Anderson, where he focused on finance. While at UCLA, Brent supported Financial Access at Birth Campaign via a field study on financial inclusion in rural India, which included an analysis of a unique, universal ID program implementation and potential feasibility of a FAB pilot in India. Before this, Brent was a Manager for Bond Street Limited out of Dallas, Texas and worked on mergers and acquisitions in numerous market sectors. He managed a team of analysts to help acquire 6 companies with a cumulative value of over $50 million. Prior to Bond Street, Brent served as a Chief Analyst for Blackford Capital out of Los Angeles where conducted financial analysis and acquired financing for various deals for this private equity firm. Brent also served on the financial team for TACA International Airlines in El Salvador. Brent is a graduate of Brigham Young University with a degree in economics.
Rob is responsible for project management at sPower. Prior to joining sPower, Mr. Adams was responsible for project management and property leasing at a Utah-based renewable development firm. Prior to that Rob served as the Economic Development Director for Beaver County Utah, the center of most of Utah's renewable resources. While there he was at the forefront of recruiting over 400MW of renewable generation capacity in the form of wind and geothermal to the county. Previous to serving as economic development director, Mr. Adams was the general manager of Circle Four Farms, one of the largest integrated pork production facilities in the world with assets in excess of $300 million and annual sales of $200 million. Before Circle Four Farms, Rob was the Vice President of Operations for the Cattle Feeding Division of Continental Grain Company, the largest cattle feeder in the world with annual sales close to $1 billion. Rob holds a Bachelor of Science degree from Utah State University and an MBA from Brigham University
Josh is responsible for the wind development portfolio of sPower. For the last 6+ years, Josh has been successfully designing, developing and managing multi-million-dollar energy and land development projects. As a Development Manager for enXco Development Corporation, Josh was responsible for leading the development of renewable energy projects from origination into construction. He has successfully obtained the required approvals, permitting and interconnection rights for a 250 MW wind energy project on an aggressive 9-month timeline. Prior to managing project development at enXco, Josh designed and orchestrated multiple land acquisition efforts over several regionally diverse projects, resulting in over 70,000 acres of renewable energy leases. Josh also has several years of experience providing engineering design services for wind energy and land projects. As a Design Engineer for Westwood Professional Services, Josh implemented progressive civil design techniques to obtain permitting for an 800-acre planned unit development. Josh has a B.S. degree in Civil Engineering from Montana State University.
Prior to joining Sustainable Power Group, Molonai was a principal at Pure Pacific Energy where he spent the last two years consulting renewable energy companies and structuring project finance for solar projects throughout the United States. Prior to Pure Pacific Energy, Molonai spent 14 years President/CEO of Icon Consulting Group specializing in procuring federal information technology and construction contracts operating offices in Utah, Nevada, Arizona, Colorado, California and Hawaii. Molonai was responsible for securing and winning over $800 million dollars of Indefinite Delivery Indefinite Quantity (IDIQ) contracts from 1999 to 2010. Molonai is a graduate of the University of Utah with a degree in economics, received an MBA from Arizona State University, a Masters in International Management (MIM) from Thunderbird International Business School and graduated from the Harvard Business School Executive Education program.
Sustainable Power Group (sPower), a leading energy services provider, today announced the completion of four solar facilities located in New Jersey and Indiana in the month of December, 2012. The 1.5 Megawatt facility completed in New Jersey is located at the Atlantic County Criminal Courts Complex in Mays Landing, N.J., and consists…more
Sustainable Power Group (sPower), a leading energy services provider, today announced the completion of four solar facilities located in New Jersey and Indiana in the month of December, 2012. The 1.5 Megawatt facility completed in New Jersey is located at the Atlantic County Criminal Courts Complex in Mays Landing, N.J., and consists of arrays installed on the roof of the facility and structures in the parking lot. The other three 1.3 Megawatt solar facilities completed in Indiana were ground mount installations in Waterloo, Hobart and Valparaiso, Ind. sPower acquired, provided construction management and construction financing for the projects. PNC Energy Capital, a unit of PNC Equipment Finance, LLC, provided the long-term project financing.
About Sustainable Power GroupHeadquartered in Salt Lake City, Utah, Sustainable Power Group (sPower) is an owner and operator of electrical generation systems across the U.S. For more information, visit www.sPower.com.
A new solar electric generation system installed at the University of Utah is another big step forward in the university's goal to become more environmentally friendly and carbon neutral by the year 2050. The solar power arrays on the rooftop of the Natural History Museum of Utah's Rio Tinto Center and the HPER East Building …more
A new solar electric generation system installed at the University of Utah is another big step forward in the university's goal to become more environmentally friendly and carbon neutral by the year 2050. The solar power arrays on the rooftop of the Natural History Museum of Utah's Rio Tinto Center and the HPER East Building were unveiled to the public today at a press conference next to the museum's solar array.
The Natural History Museum of Utah's system is a 330-kilowatt system, while the HPER East system is a 263-kilowatt system. The combined arrays consist of 2,470 Sharp photovoltaic panels covering 40,000 square feet of rooftop space and together they will annually produce 802,240 kilowatt hours. Members of the public can get a unique, bird's eye view of the Museum's array - and learn about solar power - from the Museum's Sky Terrace.
"Installing and making operational this solar system is a major accomplishment for the University of Utah and another important step toward fulfillment of our Energy and Environmental Stewardship Initiative created in 2010", says Dr. David Pershing, president of the University of Utah. "Our climate action plan calls for campus to achieve carbon neutrality by the year 2050 and this goal will require many more such inventive projects in the years to come."
Installation and commissioning of the systems was handled by Utah company Sustainable Power Group (sPower), which partnered with Okland Construction and Hunt Electric to complete the construction. The Sharp modules are American-made and manufactured in Memphis, Tennessee. BacGen Solar Group of Seattle provided consulting services throughout the project. McCalmont Engineering of Campbell, California designed and engineered the systems.
Under the terms of a Power Purchase Agreement (PPA), sPower will own and operate the systems for 20 years and sell the power to the University of Utah. This innovative third party ownership arrangement was made possible by the U.S. Department of Energy through the State of Utah Office of Energy Development and the Division of Facilities Construction and Management, which awarded a one million dollar American Recovery and Reinvestment Act renewable energy grant to the University. The university also received $125,000 through a Rocky Mountain Power Blue Sky program funding award.
The College of Architecture + Planning was integral in the process of securing a portion of the federal grant money and will directly benefit from the solar system. Electricity from both arrays will power the Architecture building in a project already underway to remodel the early 1970's structure and achieve net-zero energy usage.
"The University's green design leadership and commitment to use innovative energy financing strategies led to our selection of this project", says Utah Division of Facilities Construction and Management Energy Director John Harrington. "The one million guests expected to annually visit the Museum of Natural History will have a unique opportunity to actually see this state-of-the-art rooftop system which demonstrates Utah's commitment to renewable energy development."
The EPA estimates that over the 20-year life of the system, the CO2 offset of the University's new solar-energy system will be the equivalent of planting 28,368 tree seedlings or the amount of carbon sequestered by 2,360 acres of pine or fir forests.
The PPA that allowed the solar systems to be built is a bold new initiative involving university planners, strategists from the State of Utah Office of Energy Development and the Division of Facilities Construction and Management, the U.S. Department of Energy and the companies that were awarded the contracts.
"These projects are consistent with our long term relationship with the University of Utah. We consider this to be a showcase of how a public entity and private companies can work together to create sustainable energy, while at the same time saving the university money. The University of Utah has truly made a significant investment in securing a long term, clean and affordable energy source for the future," says Ryan Creamer, CEO of sPower.
About Sustainable Power Group, LLC: Headquartered in Salt Lake City, Utah, Sustainable Power Group (sPower) is a leading developer, owner and operator of electrical generation systems across the US and Canada. Although relatively new as a company, sPower has assembled a team of experts with a combined experience of over 50 years in the energy industry. The sPower team includes the founders of Energy Solutions, and Solar Nation. For more information, visit www.sPower.com.
About the University of Utah: The University of Utah, located in Salt Lake City in the foothills of the Wasatch Mountains, is the flagship institution of higher learning in Utah. Founded in 1850, the university serves about 31,000 students from across the U.S. and the world, with over 72 major subjects at the undergraduate level and more than 90 major fields of study at the graduate level, including law and medicine. The University of Utah prepares students to live and compete in the global workplace.
About the University of Utah's Energy and Environmental Stewardship Initiative: 2010 Climate Action Plan: In fall 2010, the university released its detailed long-range effort to make the campus more environmentally friendly and achieve carbon neutrality by the year 2050. The U.S. Environmental Protection Agency (EPA) recently ranked the University of Utah fourth in the nation for green power purchases. More information can be found at www.Unews.utah.edu
--Myron Willson, Director, Office of Sustainability, 801-585-3173, firstname.lastname@example.org
--Remi Barron, University of Utah Public Relations, 801-581-7295, cell: 801-230-4413, email@example.com
--Ryan Lambert, Corporate Communications, Sustainable Power Group, 801-679-3500, firstname.lastname@example.org
Salt Lake City-based private equity fund Western Pacific Group announced the formation of Sustainable Power, LLC (sPower), a new company focused on meeting the sustainable energy challenges of today. sPower's Management Team and founders include R Steve Creamer as Chairman, Ryan Creamer as CEO and J.I. "Chip" …more
Salt Lake City-based private equity fund Western Pacific Group announced the formation of Sustainable Power, LLC (sPower), a new company focused on meeting the sustainable energy challenges of today. sPower's Management Team and founders include R Steve Creamer as Chairman, Ryan Creamer as CEO and J.I. "Chip" Everest, CFO. Messrs. Creamer and Everest were co-founders and former officers of EnergySolutions, Inc. (NYSE: ES)
Initially, sPower's business model will concentrate in two major fields within the sustainable energy industry. sPower's Utility Energy Division will partner with electric utilities nationwide to build and operate peak demand and distributed generation facilities, and help those utilities meet state-mandated Feed in Tariff (FiT) regulations and Renewable Portfolio Standards (RPS). sPower's Commercial Energy Division will assist public and private energy consumers construct and operate alternative on-site generation facilities, including rooftop solar arrays and wind farms, to minimize consumer's energy costs and carbon footprint.