American Renewables History

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.

BayCorp Holdings, Ltd.

BayCorp is a holding company incorporated in Delaware in 1996. In 2005 BayCorp became part of the Tavistock Group of companies -- a global, private investment firm founded 30 years ago by investor Joe Lewis. Tavistock has interests in more than 170 companies located in 15 countries.

BayCorp is an energy company that owns power facilities, as well as natural gas and oil production and development assets. BayCorp previously held joint ownership in the Seabrook Nuclear Power Project in Seabrook, New Hampshire.

Today BayCorp owns and operates a hydroelectric generation facility and is developing additional generation facilities in Vermont. Through its Great Bay Power Marketing, Inc. subsidiary, it supplies wholesale power in New England. Through its subsidiary BayCorp Resources, it owns and operates oil and natural gas development and production projects located throughout Texas. BayCorp is also the majority owner of HoustonStreet, a web-based platform for the trading of crude oil and refined petroleum products.

Energy Management, Inc.

Energy Management, Inc. is a privately-held energy company with more than 30 years of experience in energy conservation and energy development. In 1986, EMI developed, financed and constructed Alexandria Power Associates, a 15-MW wood-fired power production facility in Alexandria, New Hampshire. After the Alexandria project, EMI developed six natural gas-fired electric generation facilities totaling more than 860 MW of capacity, including the first true independent and merchant power projects in New England. EMI is also currently developing the Cape Wind Project, a 468-MW offshore wind project to be located in Nantucket Sound off the southern coast of Cape Cod, Massachusetts.

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.

Tyr Energy's current portfolio includes ownership in CalPeak Power (CA), Chesapeake Commonwealth Company (VA) and Fox Energy Company (WI). Tyr Energy is the North American cornerstone of ITOCHU Corporation's global independent power producer strategy. Worldwide, ITOCHU owns interests in independent power facilities in Saudi Arabia, Indonesia and Japan in addition to the United States. Tyr Energy's sister company, NAES Corporation, also a subsidiary of ITOCHU International, Inc., is the industry's largest independent, third-party provider of power plant operations and maintenance services, providing services to almost 300 MW's of biomass-fueled power plants across the U.S.