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Start-Up Texas REP Axon Power Was Interested in Purchasing Proton Energy in Arm's Length Transaction, Says It Has No Relationship With Ramzan Ali

September 30, 2014

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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Axon Power & Gas, LLC, a start-up retail provider seeking a Texas certificate, told the Public Utility Commission of Texas that it was interested in purchasing the Proton Energy business in what was called an arm's length transaction, but could not come to an agreement, as Axon also said that it has no relationship with Proton's principal Ramzan Ali

Click here for story on Axon's application

"None of Axon's employees or Principals have a familial, personal, or business relationship with Mr. Ramzan Ali," Axon said in a filing with the PUCT.

Proton Energy had its certificate revoked by the PUCT, and Ramzan Ali is currently prohibited from participating in any market structure regulated by the Public Utility Commission of Texas (click here for background on the revocation and prohibition).

"Mr. Ramzan Ali is known to Axon's Principals, who were interested in purchasing Proton Energy, Inc. from Mr. Ramzan Ali in an arm-length's transaction. The parties could not agree to terms and as a result, the transaction was never entered into. Axon's Principals knew Mr. Ramzan Ali prior to their attempted purchase of Proton because he attends the same Mosque they attend. Although they are acquainted with Mr. Ramzan Ali, they do not consider themselves to have ever had a personal relationship with him as they are not friends with Mr. Ramzan Ali and do not engage in social activities with Mr. Ramzan Ali. Moreover, Mr. Barkat Ali, a Principal of Axon that was involved in the attempt to purchase Proton Energy from Mr. Ramzan Ali, has recently initiated an [sic] legal action that is currently pending before a District Court in Tarrant County against both Mr. Ramzan Ali individually and against Proton Energy, Inc. as a result of the unsuccessful Proton transaction. Axon's Principals do not have a personal relationship with Mr. Ramzan Ali," Axon said.

"Axon has not received any funding and will not accept any funding from Mr. Ramzan Ali or any entities in which he has an ownership interest. Mr. Ramzan Ali's only business dealing with Axon principals was during their attempted purchase of Proton which was strictly an arm's length transaction. Mr. Ramzan Ali has never been, and will not be, a part of the Axon investor group. Axon has not sought, and will not seek, any funding from Mr. Ramzan Ali or any entities in which he has an ownership interest. Furthermore, Axon understands that Mr. Ramzan Ali's prohibition from participating in any market structure regulated by the Commission precludes Mr. Ramzan's involvement in the retail electric market in any capacity, including that of an investor," Axon said.

"Axon will not hire, employ, retain, or engage Mr. Ramzan All or enlist his services in any capacity whatsoever, including, but not limited to, hiring Mr. Ramzan Ali as an employee, retaining him as a consultant, or engaging him as a contractor," Axon said.

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