American Renewables History

American Renewables brings together the successful track records and project development, operations, energy investment and asset management expertise of its three partners: BayCorp Holdings, Energy Management, Inc. (EMI) and Tyr Energy. Recognizing the tremendous potential in biomass energy, BayCorp and EMI joined forces in 2005 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. In August 2008, Tyr Energy provided additional development capital and asset management expertise to the partnership, and American Renewables was born.

BayCorp Holdings, Ltd.

BayCorp is an unregulated holding company incorporated in Delaware in 1996. In 2005 BayCorp became part of the Tavistock Group of companies, a global, private investment company that was founded 30 years ago by investor Joe Lewis which includes a broad portfolio of interests in over 170 companies in 15 countries.

BayCorp is a merchant energy company that owns power assets as well as natural gas and oil production and development assets. BayCorp previously held a joint ownership interest in the Seabrook Nuclear Power Project in Seabrook, New Hampshire. Today BayCorp owns and operates a hydroelectric generation facility and is developing additional generation in Vermont. Through its Great Bay Power Marketing, Inc. subsidiary it supplies wholesale power in the New England power market and through its subsidiary BayCorp Resources, it owns and operates interests in 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.

EMI 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. Following Alexandria, EMI developed six natural gas-fired electric generation projects 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 focuses on acquiring and owning equity interests in North American independent power assets and providing asset management services to facilities in which it is an owner. Tyr Energy's current portfolio includes interests in CalPeak Power (CA), Chesapeake Commonwealth Company (VA) and Fox Energy Company (WI). Tyr Energy represents the North American cornerstone of ITOCHU Corporation's global independent power producer (IPP) 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 US.