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Castleton Commodities To Acquire Retail Energy Marketer

April 2, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Castleton Commodities International LLC has applied at FERC for approval of a transaction under which it would acquire, from Ingenco Holdings, LLC, retail energy marketer Collegiate Clean Energy, LLC, as well as Ingenco Wholesale Power, L.L.C.

Collegiate Clean Energy makes sales of renewable energy to colleges, universities and other businesses. Collegiate Clean Energy is a licensed competitive retail electric service provider and aggregator in Virginia and a licensed electricity broker in Maryland.

Ingenco Wholesale Power owns and operates fifteen landfill gas and recycled oil-fueled electric generating facilities located in Maryland, North Carolina, Pennsylvania and Virginia, with a combined capacity of approximately 145 MW. None of the facilities has a capacity exceeding 16 MW. All fifteen facilities sell their capacity and energy into markets operated by PJM. All but four of the facilities are Qualifying Facilities (QFs) under the Public Utility Regulatory Policies Act of 1978.

Under the transaction, CCI U.S. Asset Holdings LLC, a subsidiary of Castleton Commodities International LLC, would acquire Collegiate Clean Energy and Ingenco Wholesale Power, as well as Ingenco Renewable Development, LLC.

Castleton Commodities International LLC is a merchant that engages in the marketing of physical energy commodities, including electricity, natural gas, natural gas liquids, refined products, crude oil and coal, as well as related financial instruments, and owns and operates electric generation facilities and other energy assets

Energy Trading Innovations LLC directly and indirectly owns approximately 88% of the membership interests in Castleton Commodities International. Energy Trading Innovations, in turn, is owned by a number of unaffiliated investors. Approximately 21% of the membership interests in Energy Trading Innovations are directly and indirectly owned by entities owned or controlled by an individual, Glenn Dubin. Approximately 11% of the membership interests in Energy Trading Innovations are indirectly owned by Future Energy Investments LLC. The remaining interests are owned by a number of other investors, each of which owns less than 10% of the membership interests in Energy Trading Innovations.

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