Energy Financing And Project Development
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- For a start-up midstream project development company, Steve led the market analysis and due diligence efforts that resulted in raising over $360 MM in equity funding (including about $39 MM in initial venture funding) via a private securities offering (Rule 144A) to build a world-scale 11 MM Bbl crude oil salt cavern storage facility located in the center of the largest concentration of crude oil refinery demand (2.6 MM Bbls/d) in North America. Steve was directly engaged in regularly preparing Information Memoranda to initial venture fund investors as well as preparing the in-depth macro-economic and business overviews in the Offering Memoranda that successfully raised new equity of $321 MM from a wide spectrum of over 50 institutional and private investors.
- For a pre-eminent energy company that had invested over $4 Billion of investment capital worldwide in a 4 year period, he originated, structured, negotiated, and/or closed over $125 MM of equity and debt financing in new and existing enterprises. He also sourced debt and equity funding totaling over $50 MM for energy-intensive (chemical, refining, pulp and paper, steel) or energy-related projects and businesses. While there he led a cross-functional team that included credit, trading, legal, tax, accounting, and syndication functions, resulting in four deal closures. He also structured innovative financial support and guarantees, including insurance products.
- Engaged by a $100 Billion per years sales Asian conglomerate to regarding the contemplated creation of a $300 MM corporate Private Equity Fund focusing upon investments in the Distribution and Industrial sectors. Analyzed the operation, structure, and personnel requirements for both private and corporate Private Equity Funds, including various fund types and strategies as well as employee and partner compensation
- Engaged by a global publicly-held $1.5 Billion per year sales company that is the leading integrated producer of chemicals, carbon compounds, and treated wood products for the aluminum, steel, chemical, rubber, railroad and utility industries, to lead a comprehensive and exhaustive investigative effort to find new and alternative non-coal, hydrocarbon-based feedstock sources (Substitute Feedstock project). Originated the Project concept, crafted the Business Plan, led outside Technical staff, conducted Business Due Diligence, drafted the Request for Proposal for the location of a $63 million construction of a 120,000 ton/yr Hydrocarbon Pitch facility located in the US Gulf Coast, that will be used by client to generate such Substitute Feedstocks for their operating plants and North American customers.
- Initiated and originated key elements for a $35 MM debt financing for a 2.5 MM ton/year petroleum coke handling facility, including sourcing of strategic financial partners for client developer and identifying existing projects that can be effectively financially monetized.
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Facilitated key elements for a $40 MM project finance of a first of kind waste lube oil recycling plant, in particular, sourcing process efficacy insurance, equity investment, and future development sites.
- Engaged by a large Japanese electric utility having over 24 million customers to work with a team of 6 other Subject Matter Experts covering IT, Insurance, Transaction Processing, Credit Scoring, Debt-related Products, and Mobile Telecommunications to analyze the feasibility, necessary steps going forward, and potential product line-ups regarding a contemplated entry into the Japanese consumer credit market.
- As part of the initial due-diligence regarding the initial decision regarding equity and/or project funding, wrote a white paper evaluation for Private Equity investor regarding the commercial marketability of Fuel Oil derived from by-products of poultry and livestock food processing that have been subjected to a series of various proprietary thermal, chemical, and mechanical operations.