St. Louis, MO, January, 2012
Capital For Business, Inc.® (CFB) announced today that it recently completed the acquisition of West Plains, Missouri based Perennial Energy, Inc. (“PEI” or the “Company”).
PEI is an engineering and manufacturing business that specializes in designing anaerobically-derived waste gas processing systems and equipment that capture methane and carbon dioxide from landfills. The biogas captured by the Company’s products can be used as a renewable energy source to heat and power gas engines and boilers, and can be converted to natural gas quality biomethane. In addition to gas to energy systems, PEI also manufacturers ground flares, candlestick flares, burners, and cogeneration systems that run on landfill gas.
One of the Company’s more notable recent projects include a gas collection system installed at the IESI landfill in Maryland Heights, MO. That system currently collects and feeds Pattonville High School with methane used to heat its boilers, as well provides gas to a nearby concrete plant, a greenhouse, and a brick plant. This system will also provide the collection and distribution of landfill gas into Ameren’s new 15MW power plant being constructed as part of Ameren’s “Methane to Megawatts” project. Ameren’s project will provide electricity to approximately 10,000 homes using landfill gas as a renewable energy source.
In addition to CFB, the investor group included Kansas Venture Capital, Inc. of Kansas City, Kansas, as well as key members of the Company’s management. Senior financing of the deal was provided by Kansas City based Citizens Bank & Trust.