SOURCE: Renegy Holdings, Inc.

February 25, 2008 10:00 ET

Renegy Retains Genesis Select to Broaden Its Visibility in the Financial Community

TEMPE, AZ--(Marketwire - February 25, 2008) - Renegy Holdings, Inc. (Renegy) (NASDAQ: RNGY), a pure play renewable energy company focused on acquiring, developing and operating biomass to electricity power generation facilities, has retained Genesis Select Corporation to initiate a comprehensive institutional investor relations program. Genesis Select will assist Renegy in building long term relationships with portfolio managers, buy- and sell-side analysts, and the investment community at large; and educate Wall Street on the investment merits of Renegy and its vision to become a leading biomass to electricity independent power producer in North America utilizing wood waste as a primary fuel source.

"Genesis Select has a 10-year history of broadening awareness of and generating significant investor interest in emerging growth microcap companies as measured by both increased institutional ownership and sell-side research coverage," said Bob Worsley, chairman and CEO of Renegy. "I previously worked with Genesis Select and was impressed with their established relationships within the financial community and their ability to deliver solid results."

Budd Zuckerman, president of Genesis Select, stated, "Renegy is well positioned to address a growing demand for clean, sustainable power, and to lead the biomass to electricity segment of the renewable energy industry in North America. Its first biomass plant is scheduled to come online in the second quarter of 2008 to supply electrical power to Arizona's two leading utility companies. Renegy has also identified and begun to explore multiple additional biomass to electricity project opportunities totaling more than one gigawatt (GW) of power output. In addition to operating a growing portfolio of renewable energy facilities that convert organic waste into electrical power, Renegy has built a world-class fuel aggregation infrastructure and a solid fuel procurement strategy to harvest, collect and transport wood waste material to power existing and future biomass plants. Renegy's business model, including stable, predictable revenues and cash flows derived from long-term power purchase agreements with utilities, reinforces the compelling investment proposition. These returns are further boosted by government policies driving increased adoption of renewable energy sources, including federal production tax credits, state-mandated Renewable Portfolio Standards (RPS), and other incentives.

"We have a long history with Bob Worsley who has proven himself as a successful entrepreneur and visionary in past endeavors," added Zuckerman. "We are confident in his ability to execute on his vision for Renegy, and look forward to assisting the Company with garnering additional support from an expanded investor base."

About Renegy

Renegy, based in Tempe, Arizona, is a green energy company focused on acquiring, developing and operating a growing portfolio of biomass to electricity power generation facilities. Renegy seeks to rapidly grow its renewable energy assets with the goal of becoming the leading independent power producer (IPP) of biomass electricity in North America. Its first project is Snowflake White Mountain Power (Snowflake), a 24 megawatt (MW) biomass facility under construction near Snowflake, Arizona. This facility is scheduled to begin supplying electrical power to Arizona's two leading utility companies in the second quarter of 2008, and serves as a solid foundation for the Company's growth. Find Renegy on the Worldwide Web at www.Renegy.com.

About Genesis Select

Genesis Select Corporation is an independent investment advisory and financial communications firm that specializes in micro through mid-capital public companies. The firm's senior professionals integrate knowledge and expertise gained over 50 years at prominent Wall Street firms. Genesis Select works closely with clients to maximize shareholder value through strategic institutional investor relations and financial communications programs. Find Genesis Select on the Worldwide Web at www.genesisselect.com.

This news release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. These statements include, but are not limited to, those regarding Renegy's ability to expand its institutional investor base and secure sell-side research coverage; the Company's growth strategy, prospects and future opportunities for its business; Renegy's ability to capitalize on such growth opportunities; the prospects and timing associated with commencing commercial operation of the Company's first biomass plant; and the financial projections for its business, including its ability to deliver stable, predictable revenues and cash flows derived from long-term power purchase agreements with utilities. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, among others: the risks associated with the development, generally, of the Company's overall strategic objectives; successful management of Renegy's business; that the Company may not be able to accurately predict future market opportunities and growth prospects for its business; the existence of unanticipated technical, commercial or other setbacks related to the Company's power facilities, including construction delays or cost overruns; that the Company will not be able to secure the necessary financing, permits, power purchase agreements or an adequate, low-cost supply of fuel for its biomass plants; changes in the environmental requirements relating to certain emissions; possible fluctuations in economic conditions affecting the markets for Renegy's product and service offerings; the risk that a market may not develop or be maintained for Renegy's product and service offerings; that there may be unanticipated events that could impact the Company's ability to successfully manage its business; that Renegy may be unable to maintain current or develop future strategic or customer relationships for its electricity output, fuel supply, or other products and services, including with utility customers; and the other risks set forth in the Company's most recent Form 10-QSB filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances occurring after the date of this release.

Contact Information

  • CONTACT:
    Megan Meloni
    Investor Relations
    (650) 631-2847