Earnings Call Excerpt
GreenHunter Energy, Inc. (GRH)
Wall Street Analyst Forum Presentation
March 26, 2008 1:20 pm ET
Executives
Gary C. Evans – Chairman of the Board & Chief Executive Officer
Jack Zedlitz – Director of Corporate Communications
Presentation
Facilitator
I’d like to introduce the next company in the alternative energy and clean technology program. It will be the last company. Their 40 minute presentation and Q&A session will take place here and for the most part we’ll try to keep a breakout session here so that we don’t have to move you to a breakout room because there’s no company immediately following this one so we’ll keep you here for the breakout session to be efficient.
So I’d like to introduce the next company, GreenHunter Energy traded on the American Stock Exchange, the symbol is GRH, a publicly traded portfolio company of renewable fuels and power businesses, their mission is to develop, acquire and manage profitable renewable power and fuel assets. Their primary assets include the country’s largest bio-diesel refinery in 105 million gallons per year, a 700,000 barrel bulk liquid terminal operation and a 200 million pound per year glycerin refinery all which are located at the renewable fuels campus on the Houston Ship Channel in Houston, Texas. Commercial operations are planned for early April, 2008. GreenHunter Energy currently has ownership interests in six wind energy projects under various forms of development located in the states of Montana, California and New Mexico.
Further GreenHunter executed the landmark master turbine technology agreement with the Chinese manufacturer of wind turbines, MingYang Wind Power Technologies. This agreement allows GreenHunter to potentially purchase more than 900 megawatts of new capacity for wind projects to be developed between years 2008 and 2012 in North America.
Finally GreenHunter Energy also owns an 18.5 megawatt biomass project located in the Imperial Valley of Southern California and has a 15 year power purchase agreement with Southern California Edison. GreenHunter Energy went public on the American Stock Exchange on January 2nd, 2008 at $12.00 per share and is up 50% to $18.00 per share since that listing.
Without any further introduction I’d like to introduce Gary Evans, Chairman and CEO and he is accompanied by Jack Zedlitz, Director of Corporate Communications.
Gary C. Evans
Thank you very much. Sorry for the few technical delays we’ve had. I would like to tell you the story about GreenHunter and we are a public company so we do have give the Safe Harbor ruling. We’ll be talking about some forward-looking statements. As all of you know there is a lot of rhetoric in Washington going on concerning renewable fuels area. For this first time in my business career I’ve had the government try and support something I’m doing rather than take it away so it’s been kind of nice. There’s definitely been a consumer mind change in renewables, a lot of Americans and consumers around the world want renewable and so with $100 oil today there’s no question that this is a new and vibrant industry and we’re trying to bring to this business tried and true knowledge of business in the energy sector and that’s what makes us quite a bit different than most the renewable companies in our industry today.
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