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August 01, 2015 2:27 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Primary Energy Recycling Corp.

Company Overview

Primary Energy Recycling Corporation, together with its subsidiaries, builds, owns, and operates recycled energy, combined heat and power, and energy efficiency facilities in the United States. It recycles recoverable heat and byproduct fuels from industrial and electric generation processes, and converts it into electricity and thermal energy for resale back to its customers. As of March 17, 2014, the company owned and operated 4 recycled energy projects and a 50% interest in a pulverized coal facility with a combined electrical generating capacity of 298 megawatts and a combined steam generating capacity of 1,851 Mlbs/hour. Primary Energy Recycling Corporation was founded in 2003 and is he...

2215 South York Road

Suite 202

Oak Brook, IL 60523

United States

Founded in 2003

Phone:

630-230-1313

Key Executives for Primary Energy Recycling Corp.

Chief Executive Officer, President and Director
Age: 50
Chief Financial Officer and Executive Vice President
Chief Commercial Officer and Executive Vice President
Assistant Secretary of Epcor USA Ventures LLC and Associate General Counsel of Epcor USA Ventures LLC
Vice President of Strategy & Development at Epcor USA Ventures LLC
Age: 47
Compensation as of Fiscal Year 2015.

Primary Energy Recycling Corp. Key Developments

Primary Energy Recycling Corp.(TSX:PRI) dropped from Ardour Global Index (Composite)

Primary Energy Recycling Corp. will be removed from the Ardour Global Index.

Primary Energy Recycling Corp.(TSX:PRI) dropped from Ardour Global Index (North America)

Primary Energy Recycling Corp. will be removed from the Ardour Global Index (North America).

Primary Energy Recycling Corp. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Primary Energy Recycling Corp. reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $10,056,000 compared to $14,050,000 a year ago, a decrease of $4.0 million, or 28.4%. $3.0 million of the decrease is the result of deferred revenue being recorded at the Cokenergy facility in accordance with lease accounting requirements. Operating loss was $5,849,000 compared to $101,000 a year ago. Loss before income taxes was $1.522 million compared to $0.624 million a year ago. Net loss and comprehensive loss for the third quarter of 2014 was $4.1 million compared to $0.7 million for the third quarter of 2013, an increase of $3.4 million. LBITDA was $2,205,000 compared to EBITDA of $6,034,000 a year ago. Adjusted EBITDA was $7,177,000 compared to $8,164,000 a year ago. Negative free cash flow was $5,392,000 compared to positive free cash flow of $5,319,000 a year ago. Capital expenditures were $1,287,000 compared to $2,566,000 a year ago. For nine months, the company reported revenue of $32,452,000 compared to $42,296,000 a year ago, a decrease of $9.8 million, or 23.3%. $7.4 million of the revenue decrease is the result of deferred revenue being recorded at the Cokenergy facility in accordance with lease accounting requirements. Operating loss was $15,434,000 compared to operating income of $1,108,000 a year ago. Loss before income taxes was $2.575 million compared to $7.460 million a year ago. Net loss and comprehensive loss for the first nine months of 2014 was $10.4 million compared to $1.7 million for the first nine months of 2013, an increase of $8.7 million. LBITDA was $4,861,000 compared to EBITDA of $20,277,000 a year ago. Adjusted EBITDA was $21,079,000 compared to $26,106,000 a year ago. Net cash provided by operating activities was $2,039,000 compared to $19,002,000 a year ago. Negative free cash flow was $405,000 compared to positive free cash flow of $12,090,000 a year ago. Capital expenditures were $2,444,000 compared to $6,912,000 a year ago.

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Type
Date
Target
Merger/Acquisition
October 20, 2014
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