Energy company plans IPO
Cincinnati Business Courier - 2:44 PM EDT Thursday, June 21, 2007
cincinnati.bizjournals.com
A Cincinnati company that specializes in alternative energy sources is filing an initial public offering, Reuters reported Thursday.
Global Energy Inc., expects to raise up to $350 million in the offering, according to a filing with the U.S. Securities and Exchange Commission. It expects to trade on the Nasdaq system under the symbol GEGT. The IPO is being managed by JPMorgan Securities Inc.
The company focuses on gasification technologies, that is, converting carbons such as coal and coke into cleaner-burning synthetic gas and synthetic natural gas, according to information on Hoovers' Web site. It owns a gasification plant on the Wabash River in Indiana, and another in Scotland, and is building a plant in Lima, Ohio.
Global Energy, headquartered downtown, has about 23 employees and posted a net loss of $15.8 million for 2006, according to Hoovers. |
