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Volunteer Energy Announces Completion of Syndicate Financing to Fund Growth
Volunteer Energy announced the successful execution of a new secured asset based credit agreement with a six member bank group led by PNC Bank N.A., and includes JP Morgan Chase Bank N.A., KeyBank N.A., The Huntington Bank, Signature Bank N.A., and Webster Business Credit Corporation.
Volunteer Energy has amassed over 900,000 Residential Customer Equivalents, and is preparing for continued growth.
Volunteer Energy has plans to expand into Illinois by the third quarter of 2015.
"Our growth has always been steady, but has accelerated over the last five years as we've focused on municipal aggregations, SCO tranches, and building our brand in core markets," said Volunteer Energy President, Richard A. Curnutte, Sr.
Although natural gas sales constitute the majority of Volunteer Energy's business, the company has been brokering a substantial amount of electricity to its business customers, and has considered expanding further into the electricity market as a supplier, as well. "Power is an area we've done exceedingly well in, and by bringing in this strong group of banking partners we are well positioned to take advantage of strategic growth opportunities, both organically and through viable acquisitions," Curnutte said.
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February 19, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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