NASHVILLE, Tenn., July 28, 2016 /PRNewswire/ -- Gregory L. Bafalis, an energy industry veteran, has been selected as the new chief executive officer of PHG Energy (PHGE), a privately held Tennessee company focusing on waste-to-energy and solar technologies in the renewable marketplace.
Bafalis' 30 years of leadership in the clean technology and energy fields ranges from Fortune 500 Companies to starting his own private equity-backed renewable energy company in Houston, TX, to running a Silicon Valley clean tech startup in the algae space. With project development, construction, financing and operations experience in 17 countries during his career, Bafalis has successfully closed over $2 billion in project financings and raised over $250 million in venture capital and private equity funding for a wide array of startup companies.
DeWitt Thompson, V, PHGE's board chairman, said, "Greg's extensive business and energy background will be invaluable for PHG Energy. His experience with startup companies in clean technology as well as with large Fortune 500 companies brings a new dimension to PHGE. We are positioned for growth, and he complements our team with an impressive package of skills to guide the future for PHGE," Thompson said.
"Working with startup companies and new technologies has always been a passion for me," Bafalis said. "The current environment is ideal for this type of waste-to-energy business, and the value we can bring to customers and investors is substantial. The deployment of sustainable and renewable energy production is a critical and ongoing need in today's world."
Bafalis' previous accomplishments include:
- Raising $168 million in funding as CEO of Green Earth Fuels, and growing the company from zero revenue to over $250 million in under three years
- Directing construction of a 90 million gallon-per-year biodiesel production facility along with an 8,000-acre palm oil plantation to supply the Green Earth Fuels plant
- Securing capital, permitting and construction contracts for algae-to-fuel demonstration facilities in Karratha, Australia, and Harlingen, Texas
- Managing development of more than 2,000 megawatts of power generation capacity and over 1,500 miles of gas pipelines in Brazil
- Serving with Mission Energy as Executive Director for the Brooklyn Naval Yard cogeneration facility, a 380 megawatt gas fired plant constructed in NYC
- Overseeing operational and financial aspects of 14 power plants and two pipelines in 11 countries as Senior Managing Director (Americas and Europe) for El Paso Corporation
- Developing waste-to-energy and waste wood-fired energy projects for Waste Management, Inc.
PHGE has deployed 13 gasifiers to date, and currently has two facilities under contract utilizing the company's patented technology to convert biomass-based material into clean synthetic fuel gas. The newest installation in Lebanon, TN, is scheduled for completion this fall.
Aries Energy, PHGE's solar subsidiary based in Knoxville, TN, was recently awarded contracts for a 1.3 megawatt community solar array near that city and is expected to bring the system on line in 2016. This innovative concept allows individuals to share ownership, and benefits, in a large solar installation that is not on their property.
PHG Energy, LLC, is owned by a Nashville family that has operated a multi-state Caterpillar dealership for 72 years. For more information about the company visit: www.phgenergy.com
Nancy Cooper at email@example.com Phone: 615-471-9093
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SOURCE PHG Energy