Leading Environmental Restoration and Mitigation Banking Firm Expands Reach Into Conservation Banking Lesser Prairie Chicken to Benefit From Partnership
RALEIGH, N.C., Sept. 5, 2013 /PRNewswire/ -- Raleigh-based Restoration Systems, LLC is pleased to announce its new partnership with Common Ground Capital, LLC (CGC), headquartered in Edmond, Oklahoma. Restoration Systems has a long history of pioneering and establishing stream, wetland, and water quality mitigation banks in 10 states. Its investment in CGC represents the firm's entrance into species banking, CGC's area of expertise.
The partnership will provide the capital and strategic resources needed to enable CGC to complete execution of landscape-scale species conservation banks. These banks will compensate for the destruction of the Lesser Prairie Chicken habitat. CGC has secured 86,000 acres across the Lesser Prairie Chicken's habitat range in Kansas, Oklahoma and Texas. This land will be used for Prairie Chicken Conservation Banks, each with a minimum of 10,000 acres.
"Restoration Systems is proud to support these conservation banks with an investment in Common Ground Capital," said George Howard, Co-Founder and CEO, Restoration Systems. "Our 15-year track record of permanently restoring and protecting key habitats as wetland and stream mitigation banks fits perfectly with CGC's business plan. We are having great success restoring prairie ecosystems in Texas and think our land management skills and financing will contribute to CGC's efforts across Southern Plain states and beyond."
Conservation banks are the preferred way to mitigate the damage done to a species as a result of development impacts on its habitat. Currently pending federal regulations to protect Prairie Chickens will require mitigation for future damage to their habitat from all forms of energy and other traditional development impacts. Conservation banks will satisfy these requirements and, moreover, benefit the species under any scenario.
"I'm excited about having an experienced partner in Restoration Systems to complement our valued relationships with our landowners," said Wayne Walker, Principal, Common Ground Capital. "We are building a responsible business that implements large-scale conservation projects while delivering meaningful net benefits to the habitat and the wildlife we seek to protect, preserve or restore in the future. These landscape size projects will allow us to provide mitigation credits to our customers that are reasonably priced and comply with the high regulatory standards of the conservation banking guidelines established by the United States Fish & Wildlife Service."
About Restoration Systems, LLC
Restoration Systems is a leading environmental restoration and mitigation banking firm with more than 50 mitigation banks and turn-key restoration sites in 10 states. The company's projects total more than 25,000 acres of wetlands and 60 miles of creeks, streams, rivers and bayous.
About Common Ground Capital, LLC
Common Ground Capital is a conservation banking company focused on developing a portfolio of landscape-scale species conservation banks for the Lesser Prairie Chicken across five states in the Southern Plains. Prior to starting CGC, company founder Wayne Walker had a successful career in the renewable energy industry.
SOURCE Restoration Systems, LLC