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September 01, 2015 2:10 PM ET

Construction and Engineering

Company Overview of Gemma Power Systems, LLC

Company Overview

Gemma Power Systems, LLC operates as an Engineer, Procure, Construct (“EPC”) contractor, serving power and alternative fuel industries. The company offers development, consulting, engineering, procurement, and construction services. It also provides project development; startup, commissioning, and operations; safety and risk management; and plant maintenance services. In addition, the company offers management/oversight of the construction and startup process, commercial dispute resolution, power generation equipment damage assessment and claim resolution, and evaluation/selection of projects and technologies for investment. It services power, process, pollution control, gas and oil-fired co...

2461 Main Street

Glastonbury, CT 06033

United States

Founded in 1997

Phone:

860-659-0509

Fax:

860-659-0607

Key Executives for Gemma Power Systems, LLC

Co-Founder, Chief Executive Officer and Director
Age: 60
President
Age: 57
Chairman of Argan Inc and Chief Executive Officer of Argan Inc
Age: 72
Compensation as of Fiscal Year 2015.

Gemma Power Systems, LLC Key Developments

Gemma Power Systems, LLC Enters into Engineering, Procurement and Construction Services Agreements with NTE Ohio, LLC and NTE Carolinas, LLC

Gemma Power Systems, LLC has entered into two separate Engineering, Procurement and Construction Services contracts with NTE Ohio, LLC and NTE Carolinas, LLC, each affiliates of NTE Energy, and has received interim notices to proceed to commence early activities for the engineering, procurement and construction of two 475 MW, combined cycle natural gas-fired power plants. The Middletown Energy Center project will be located in Middletown, Ohio, and the Kings Mountain Energy Center project will be located in Kings Mountain, North Carolina. The combined value of both contracts is approximately $550 million and both projects have expected completion dates in the spring of 2018.

Gemma Power Systems, LLC Enters into Turnkey Engineering, Procurement and Construction Contract with Exelon West Medway II, LLC

Argan Inc. announced that its wholly owned subsidiary, Gemma Power Systems, LLC (GPS) has entered into a Turnkey Engineering, Procurement and Construction Contract with Exelon West Medway II, LLC, a wholly owned subsidiary of Exelon Generation Company, LLC and Exelon Corporation and received a limited notice to proceed to commence early activities for the engineering, procurement and construction of a dual-fuel 200 MW simple cycle peaking power plant to be located adjacent to Exelon's existing West Medway Generating Station in Medway, Massachusetts. The full notice-to-proceed is contingent upon Exelon receiving all Massachusetts regulatory approvals for the project. The contract value is approximately $100 million and has an expected completion date of mid-2018.

Gemma Power Systems, LLC Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended July 31, 2014

Gemma Power Systems, LLC announced unaudited earnings results for the second quarter and six months ended July 31, 2014. The company contributed $100.4 million, or 98% of revenues in the second quarter of fiscal 2015, compared to $55.5 million, or 96% of revenues in the second quarter of fiscal 2014. The company recorded $15.1 million in EBITDA for the second quarter of fiscal 2015 compared to $19.6 million for the second quarter of fiscal 2014. The company contributed $150.2 million, or 98% of revenues in the first six months of fiscal 2015, compared to $99.3 million, or 95% of revenues in the first six months of fiscal 2014. The company recorded $22.0 million in EBITDA for the first six months of fiscal 2015 compared to $30.7 million for the first six months of fiscal 2014.

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