Industry Leader Michael Moore Joins Blue Source as Firm Develops Carbon Capture and Storage Projects and Grows Carbon Offset Credit Portfolio
Salt Lake City, Utah, September 8, 2008 – Blue Source, LLC, the leading U.S. aggregator of greenhouse gas (GHG) emission reduction offsets and GHG reduction projects, today announced the appointment of Michael E. Moore as Vice President of Business Development and External Affairs for Blue Source. He will be based in the company’s Houston office.
Moore brings 28 years experience of intensive energy commodity and derivatives experience, including brokering, market development, business development and strategy experience in oil, gas, power, and carbon markets. Prior to joining Blue Source Moore was the director of marketing for Falcon Gas Storage Company, Inc, the largest independent natural gas storage project owner, developer and operator in the US.
Moore will support Blue Source’s development of commercial Carbon Capture and Storage (CCS) opportunities as well as focus on advocacy work related to CCS legislation at Federal and state levels. Moore joins Blue Source as the company’s management teams continue to be a leader in CCS project development. Blue Source recently announced a partnership with Och-Ziff Capital Management Group (NYSE: OZM) which created an industry-leading capital commitment of $500 million for new greenhouse gas reduction projects organized through Blue Source. Blue Source’s growing team and new strategic partnerships are supporting the company’s ongoing development of the “carbon highway,” a pipeline infrastructure across North America that captures, transports and sequesters industrial CO2 that would otherwise be vented into the atmosphere.
Moore is a founding board member of the Texas Carbon Capture and Storage Association, the Executive Director of The North American Carbon Capture Storage Association and was a founding board member for The Coalition for Commodity CO2. He was an active member of the Strategic Planning Committee of the Florida Natural Gas Association and a retained advisor to the Gulf Coast Carbon Center. Moore has provided advisory work for numerous commercial entities, academic and national labs on energy and CO2 related issues.
“The expertise Mike brings to Blue Source will help us expand our level of growth in carbon capture projects that create important GHG reductions,” said Bill Townsend, CEO and co-founder of Blue Source. “Moore brings an exciting level of industry knowledge and involvement, which enables him to integrate the oil and gas and utility sectors to drive large-scale CCS.”
As an industry leader in identifying and developing opportunities to create GHG emission reductions, Blue Source’s offset portfolio allows businesses with significant carbon footprints to meet regulatory obligations and voluntary commitments to reduce carbon dioxide emissions within the U.S.
About Blue Source, LLC
Blue Source is the answer for forward-thinking businesses, offering multiple approaches for addressing climate change. The company is organized into a portfolio group, responsible for marketing and managing the carbon offset portfolio and sourcing new offset projects and a separate project development group, responsible for identifying, designing, developing and managing projects. Blue Source is a portfolio company of First Reserve Corporation, the leading private equity investor in the energy industry, and through a strategic partnership with Och-Ziff Capital Management has a $500 million project funding commitment for new GHG-reduction projects. Blue Source has offices in Salt Lake City, Utah; Calgary, Alberta; Houston, Denver, Colo.; Raleigh, N.C.; San Francisco and New York.
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Joe McGurk
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