MARKETS OF INTEREST
VIEW OUR WIND DEVELOPMENTS
Take a deeper look at how we're harnessing the power of wind to offer an alternative power source for the world. Our research and development will prove that we have our sights on success and that we will produce the desired outcome providing a wise investment for all our shareholders.
Wind Energy
The Company’s wind energy subsidiary, Arcadian Inc., owns a large wind farm in the Altamonte Pass, east of San Francisco. The wind farm has an appraised value of $14,834,400 including more than a thousand wind turbines that were built in the 1980s and retrofitted in the 1990’s. The project includes leasehold interest on approx. 4,000 acres through 2036 with extension options. The Company plans to replace older turbines with new turbines from General Electric. The Company has secured financing of $120 million to “repower” the wind farm in two phases. At present, the wind farm is not operating while California’s Public Utilities Commission (PUC) sets energy prices and policies in the aftermath of California’s energy crisis of 2000, which led to Pacific Gas and Electric filing for temporary bankruptcy, resulting in power purchase contracts becoming uncollectible. PG&E is no longer in bankruptcy and the California legislature currently is developing a plan to ensure the commercial viability of alternative energy. The Company anticipates that the wind farm at Altamonte Pass will become operational again in the near future, with new, state of the art turbines and higher profit margins.
OUR OFFICERS
Robert F. Rood, Chairman, President, Chief Executive Officer, and Secretary
Mr. Rood served as a director and the treasurer of the Company
since March 2002. Mr. Rood has been in the finance industry
since 1991. Mr. Rood has managed, consulted and served as a
financial consultant for Unions and REITS. In conjunction with
the mortgage industry, Mr. Rood participated in the designing of
secondary market products that be sold to the likes of DLJ
Credit Suisse, Numora Bank and Conseco Insurance. In 1997, Mr.
Rood entered the mortgage lending industry at Wall Street
Mortgage Corporation as head of the sales force and was
responsible for promoting custom-made mortgage products and FHA
lending. In 2000, Mr. Rood joined F&M Bank in Bethesda, Maryland
to start and supervise the newly formed wholesale mortgage
division. When F&M Bank was acquired, Mr. Rood left to become
manager of the Bethesda office of Fidelity & Trust Mortgage,
Inc. In 2000, Mr. Rood helped found First Washington, now a
wholly owned subsidiary of the Company. Although continuing on
in all facets of the mortgage world and considered by most
inside and outside the industry as an expert on a number of
levels, Mr. Rood has built on his knowledge in energy. Becoming
CEO in 2006, Mr. Rood is well versed in most areas of
alternative energy. Mr. Rood
is sole surviving member of the team that saw so many years ago
what everyone is coming to realize today, Alternative Energy is
something that we must embrace as soon as possible as it is this
country’s great untapped solution to an ever growing problem…
ENERGY INDEPENDENCE.
James A. Sharon, Director
Mr. Sharon has been a director of the Company since September 2002. Mr. Sharon has public company experience as a former president of a public company and has experience in lease negotiations with major tenants such as Mobil Oil, Cellular-One, and Marriott Corp. Mr. Sharon has extensive experience in the installation of large commercial renewable energy projects. Mr. Sharon was an exchange student at City University in London in 1972 and holds a Bachelor of Science Degree in Civil Engineering with Honors from Worcester Polytechnic Institute. Mr. Sharon is licensed by the State of Florida as a Certified Building Contractor and a Certified Solar Energy Contractor.
C. Timothy Jewell, Director, Chief
Operating Officer
C. Timothy Jewell has been CEO of International
Mercantile Company, a publicly traded company, which was a
web-based vertical business-to-business (“B2B”) developing
high-end industry standard server and workstation products for
the information technology (IT) industry. Mr. Jewell has
extensive, senior-level experience in management of public
companies, investment banking, strategic planning, business
development, mergers and acquisitions, legal, accounting,
finance, marketing, sales, advertising, and investor relations.
Most recently, Mr. Jewell has been deeply involved in all
aspects of Financial Services relating Property, Banks and Wall
Street, thus providing a well rounded resource to the KORE team. |