The EPCM company specializes in combined heat and power (CHP) alternative energy and with the Blue Earth funding it will advance development activities for up to seven initial CHP projects for an unnamed customer.
Blue Earth CEO and president Johnny Thomas said due diligence has been done and all key contract issues have been negotiated with the EPCM company.
"The due diligence process has confirmed that BBLU’s team will be significantly enhanced as we add these experienced management and EPCM professionals to our BBLU team," Thomas added.
"This EPCM group specializes in development, engineering and management of CHP projects, while subcontracting much of the construction.
"Therefore, the new team will be complementary to our Xnergy team that also provides construction teams for CHP projects, in addition to developing and engineering projects."
Blue Earth made the pre-closing commitment to make sure that the project development is carried out on schedule so that the on-site construction work can begin.
The construction of the projects is expected to begin in August 2013, while power production is anticipated to begin in the first half of 2014.
