Energy Investors Funds Subsidiary Landfill Energy Systems Acquires Innovative Energy Systems

admin — Wed, 16 Mar 2011 22:28:12 +0000

NOVI, MI – February 15, 2011 – EIF Renewable Energy Holdings, LLC (“EIFREH”), through its wholly owned subsidiary, Landfill Energy Systems (“LES”), announced today the acquisition of Innovative Energy Systems (“IES”) of Oakfield, New York. IES, a privately held company, owns and operates a portfolio of 11 landfill gas-to-energy projects located in New York and Vermont. The IES portfolio includes developed projects with an installed capacity of 72 megawatts supplying over 42,000 homes with reliable renewable energy. Terms of the transaction were not disclosed.
With this acquisition, LES holds the rights to 45 landfills in 16 states, producing over 200 MW of base load renewable energy along with high and medium Btu gas. These projects reduce carbon dioxide emissions by over 9 million tons per year, which is equivalent to taking more than 1.7 million cars off the road.

Peter Zeliff, founder of IES, will maintain a minority ownership interest and assume the role of Senior. Vice President and COO of LES. “This merger makes so much sense; we already have similar operating philosophies and corporate cultures,” Zeliff said. “The combination gives us the most experienced development and operating team in the industry.”

The existing leaders of LES and IES have formed a joint management team to run the merged portfolios.

“We are excited by the opportunity to work with the IES leadership team as we continue our growth through greenfield development and acquisitions of landfill gas-to-energy projects,” said Richard DiGia, President and CEO of LES.

This is the fourth major acquisition in the landfill gas-to-energy space by Energy Investors Funds (“EIF”). “This transaction builds on EIF’s strategy of investing in a diversified portfolio of energy assets across fuel types and technologies, including significant investments in base load renewable energy. EIFREH’s goal is to be the leading landfill gas-to-energy company in the United States,” said Jose Torres-Monllor, a Senior Vice President of EIF.

Landfill Energy Systems has MOVED

admin — Mon, 28 Feb 2011 21:41:33 +0000

Our new Corporate Headquarters moved to 46280 Dylan Drive, Suite 200 Novi, MI 48377.

rental energy system

LES Moves to New Location

admin — Sun, 14 Nov 2010 21:48:54 +0000

LES is moving from Wixom to Novi. This is a sample of a news article. These are different from pages in that people are allowed to leave comments on news articles, but pages do not have discussion.