Blue Source Appoints Erik Katz as EVP and COO as Firm Continues Development of Greenhouse Gas Reduction Infrastructure
Salt Lake City, Utah, October 16, 2008 – Blue Source, LLC today announced the appointment of Erik Katz as Executive Vice President and Chief Operating Officer. He will be based in the Company’s New York office.
Blue Source is the leading North American developer of greenhouse gas (GHG) emission reduction offsets and GHG reduction projects. As an industry leader in identifying and developing opportunities to create GHG emission reductions, the Company’s offset portfolio allows businesses with significant carbon footprints to meet existing and anticipated regulatory obligations and voluntary commitments to reduce GHG emissions.
Katz will bring extensive financial and industry experience to Blue Source while focusing on proprietary carbon investment and carbon offset development opportunities. Katz joins Blue Source following 17 years at The Blackstone Group as a Senior Managing Director where he worked on a variety of M&A and private equity transactions.
“Katz was invaluable in the strategic developments of our company in his capacity as our lead advisor at Blackstone. It is a great opportunity to have Erik even more closely involved now as a member of our management team. We look forward to further leveraging his expertise to help Blue Source maintain its position as a leading climate change portfolio in North America,” said Bill Townsend, CEO and co founder of Blue Source.
Katz will be the Chief Operating Officer of the Blue Source companies and will lead Blue Source’s business development. Katz will also play a leading role in overseeing Blue Source’s relationships with its strategic partnerships, including Och-Ziff Capital (NYSE: OZM) which made an industry-leading capital commitment of $500 million for new greenhouse gas reduction projects developed by Blue Source.
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. For more information visit: www.bluesource.com.
Media contact:
Joe McGurk
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