In its short 5-year history, CG has grown through greenfield and acquisitions and has become an important player in the energy markets. Today, the company is uniquely positioned to continue its expansion through various ongoing growth projects.
RAPID GROWTH, BROAD EXPERTISE
As the timeline shows, our management hit the ground running. From our earliest projects, we’ve demonstrated the entrepreneurship and technology expertise that has helped us grow from an initial staff of three to our current roster of more than 1,500, in over 14 countries and four continents. Our employees are the plant managers and floor workers who keep these facilities running, as well as the developers, engineers and financial analysts who bring the projects to life.
In 2006, for example, we formed a joint venture with the Ukrainian city of Kramatorsk to update and manage a 150 MW combined heat and power facility. Net heat and electricity output had dropped to 25% of capacity at the plant, which is critical to the lives of residents and the growth of local industry. In just 18 months, ContourGlobal invested more than $20 million USD to rehabilitate the plant, now owned and operated by our joint venture, KramatorskTeploEnergo. That facility now runs at peak efficiency, with a 50,000-ton annual reduction in CO2 emissions.
SOLID FOUNDATION FOR A DYNAMIC FUTURE
Our asset base has grown an average of 39% per year since 2006, and exceeded $1.3 billion USD by the end of 2010, with 2010 revenues topping $244 million USD. With this kind of performance in just our first five years, we see a promising future in our business model—operating and owning clean, reliable power facilities in under-served and often overlooked markets.