Blue Hill Partners — Management Team

MANAGEMENT TEAM

Joyce M. Ferris is a founder and Managing Partner of Blue Hill Partners. Joyce has over 24 years of experience investing in and building Green Technology businesses. She also has extensive experience in the management, development and financing of Green Technology projects. Ms. Ferris has a unique set of skills combining demonstrated leadership with hands-on transaction and management experience in the sector. She has had principal roles as an investor, technology and equipment provider, a financial advisor and as a project developer. Joyce’s project experience includes energy efficiency, biomass and agricultural waste fired energy projects, industrial waste disposal facilities, waste-coal fired power plants, geothermal, and hydroelectric projects. Joyce was a senior founding executive and led project finance for Reading Energy Company where she managed project and corporate financial transactions totaling over $500 million. She was one of the founders of the firm and after a management buy-out in 1988, a principal shareholder. Ms. Ferris was a major shareholder and Director of Business Development for Energy Products of Idaho, a combustion technology firm specializing in the conversion of a wide variety of solid waste material. Joyce has held numerous board positions and is currently on the board of Princeton Energy Systems, E3 Bank and Aircuity Inc. She is a frequent speaker at industry conferences in the US and Europe. Joyce is a member of the Advisory Board of the Pennsylvania Green Growth Partnership, The National Wildlife Federation Business Council and the Cleantech Venture Network. Joyce is also on the board of Philadelphia Outward Bound. She holds a B.A. from Reed College in History and Philosophy (1981) and an M.S. from the University of Pennsylvania in Energy Management and Policy (1985) with a concentration in finance coursework at the Wharton School.

Scott Herrin is an Operating Partner with Blue Hill. Scott spent most of his career with Klearfold, Inc., a high growth printing and packaging company based in Warrington, PA. After joining the company in 1980, shortly after startup, he spearheaded the development and international licensing of the company’s proprietary technologies and ultimately served as President. While there, he directed the initial public offering of the company, partnered with a private equity group to take the company private ten years later and subsequently concluded a merger with another respected printing and packaging firm. In order to finance the merger, which involved buying out several shareholders; Scott participated in the “road show” to sell a $100 million debt offering. After the merger, Scott served on the Board of Directors of the resulting company until, through internal growth and acquisitions, revenues grew to over $300 million, and the company was sold to a major integrated packaging concern. The private equity group involved considers the investment to be one of its more successful. From 2005 to 2008, Scott was President and an owner of Sancoa International and TubeDec LLC, related companies that are market leaders in the manufacture of highly decorated labels and tubes, respectively, for retail packaging for global consumer products companies. Scott has also served as lead independent director for a small mutual fund (2001–2002). Community service activities have included membership on the boards of three non-profit organizations that support the School District of Philadelphia, with a current focus on the Philadelphia Outward Bound Center. Scott has a J.D. from Harvard Law School (1980) and an A.B. in economics from Amherst College (1977).

Peter Williams is a Principal with Blue Hill. Peter leads the technology and strategy due diligence activities at Blue Hill with a particular emphasis in energy efficiency and on site generation technologies. Prior to joining Blue Hill he spent over six years in the strategy consulting and corporate finance industry with a focus on the electricity sector. He has worked for both The KBA Consulting Group in Melbourne, Australia and L.E.K. Consulting in Australia, Singapore and Thailand. While at KBA, Peter developed and published a quantitative customer research methodology to help Australia's largest electric utility prepare for privatization. While at L.E.K, he helped develop the strategy and built screening models for a Singaporean utility looking to raise a $1 billion pan-Asian private equity fund. Peter also completed an internship at the United Nations Environmental Programme Finance Initiative in Switzerland, where he worked on scenarios linking the Kyoto Protocol with the growth of the renewable finance industry. Mr. Williams has a Bachelor of Engineering (Electrical) with Honors and a Bachelor of Science (Computer) from the University of Melbourne, Australia, and an MBA with Honors from the Wharton School at the University of Pennsylvania. While at Wharton he received a Ford Fellowship to research a project entitled "The Impact of Climate Change on Management & Technology."

Walter King is an Analyst with Blue Hill. Walter provides support on all aspects of the firm including operations and IT, company due diligence, and investment analysis and structuring. Walter is a recent graduate of Carnegie Mellon University where he completed a BS in Business Administration with an additional major in Philosophy. Walter graduated summa cum laude, is a member of Phi Beta Kappa, and was awarded College Honors for his research on how venture capital can impact the green building space. Prior to Blue Hill, Walter worked as a website developer for a start up technology firm in Philadelphia. He uses this experience to assist in the optimization of Blue Hill’s IT infrastructure. Additionally, Walter interned at the Green Building Alliance, where he focused on website development and implementing web 2.0 technologies.

ADVISORS

Josh Bouk is Vice President of Customer Services for Veramark Technologies Inc., a Telecom Expense Management firm that provides Business Process Outsourcing and Software Services. Josh has over 15 years of experience building software and technology businesses through the creation of improved go-to-market strategies, customer experiences and service delivery. By leveraging software-as-a-service delivery models, real-time data aggregation and actionable business intelligence, Josh has driven the creation and delivery of solutions that have had measurable impacts on his customers’ bottom lines while improving operational efficiency. At Veramark Josh is responsible for customer support, implementation services, professional services, and customer training. Prior to joining Veramark he was COO of Connected Energy Corporation, a Blue Hill portfolio company, where he was instrumental in successfully positioning the company for acquisition by BPL Global, a smart grid technology company. Josh was instrumental in securing a positive outcome for Connected Energy’s investors and employees. Josh began his career at Millennium Computer Corp., where he held leadership roles in engineering, project management and sales. During his tenure, Josh helped build company revenues from $3M to $53M. Josh further expanded his management skills as Managing Director of ePlus Consulting, a division of publicly traded ePlus, Inc. In that role, Josh successfully grew the division by establishing a reputation of quality, value, and integrity across the ePlus customer base. Josh holds two Bachelor degrees (in Computer Science and Mathematics) from the State University of New York, and serves on the Board of Directors of Digital Rochester and the Boards of Trustees of Roberts Wesleyan College and Northeastern Seminary.

Gary M. Fechter is President and COO of Princeton Energy Systems, a Blue Hill portfolio company. He has more than 25 years of experience in energy, engineering, and project management, including 15 years experience at Trigen Energy Corporation, a leading firm focused on developing, constructing and operating district energy systems. As Vice President of Trigen, Mr. Fechter directed a wide range of engineering, business, technical and project management resources to develop projects and create joint venture opportunities. Mr. Fechter also led Trigen Development Corp., the energy services division within Trigen Energy that was awarded a $200 million IDIQ contract for US Air Force (Region 2 Energy Savings Performance Contract). Mr. Fechter has held various positions within the US Army Corps of Engineers including; Associate Professor of Physics at the United States Military Academy at West Point, and Commanding Officer, Executive Officer and Platoon Leader of Combat Engineer Companies assigned to Germany. Mr. Fechter has a Bachelor of Science in Applied Science and Engineering from the United States Military Academy at West Point (1978) and a Master of Science in Nuclear Engineering from Rensselaer Polytechnic Institute (1985).

Alan A. Grant is Senior Engineer at Pennoni Associates. Prior to joining Pennoni Alan was a Managing Partner at Blue Hill Partners. Mr. Grant has over 14 years of experience operating and managing energy and industrial technology companies. Mr. Grant has a broad range of skills and experience working with early stage companies in the Green Technology sector including operations, engineering, financial modeling and analysis, project management and information systems. Mr. Grant was the founding management member of the US subsidiary of a European company with a technology for processing liquid organic wastes. He has also acted as the financial and technical advisor to several other large-scale projects. Prior to that he was Head of Engineering and Information Systems for a Philadelphia based manufacturing company. Mr. Grant was appointed to the Pennsylvania Agricultural By-Product Management Technology Board in 2000. He has a B.A.Sc. in Mechanical Engineering from the University of Toronto and is a registered professional engineer in the United States and Canada.

Richard Hayden is a partner in the public policy firm CHH Partners and has been engaged in environmental law and public policy consulting work for over 13 years. He has devoted a substantial portion of his practice to environmental and energy matters that require regulatory policy development and legislative interpretation, with an emphasis on the Pennsylvania process. His engagements have included regulatory counsel on behalf of a large electric power generator, environmental permitting and regulatory policy development for a publicly owned treatment works, and project site development advice for a range of clients. He co-authored a report, funded by foundations, on air emissions trading opportunities for Pennsylvania. In June 2003, he was approved by the Pennsylvania Senate to serve as the Governor’s representative on the Delaware Valley Regional Planning Commission. Dick was elected to the Pennsylvania House of Representatives from 1986-1992 serving a district in Philadelphia. He was awarded the 1992 Mid-Atlantic States Air and Solid Waste Management Association Legislative Award in recognition of his leadership on environmental legislation. He also chaired the Low-Emission Vehicle Commission created by the 1992 legislation amending the Pennsylvania Air Pollution Control Act. Dick received his J.D. from Villanova University and his B.A. from Boston College.

Ellen Lutz is the founder and president of Clean Markets. Ellen has over 25 years of experience in the clean energy arena, with 15 years in leadership positions in both the public and private sectors. Ellen served as U.S. Eastern development director of the wind energy company, Gamesa Energy. Ellen managed development of an 800 MW portfolio of wind energy projects, and managed the team that built the 150 MW Allegheny Ridge wind farm. In the public sector, Ellen served as the Mid-Atlantic Regional Director for the U.S. Department of Energy (DOE), concentrating on deployment of energy efficiency and renewable energy projects. She was the highest-ranking DOE official serving the seven-state region. While at the national Office of Electricity Delivery and Energy Reliability, she served as the liaison to 35 state Public Utility Commissions and legislative offices, and five regional grid market operators. Prior to joining the Department of Energy, Ellen directed marketing for Exelon Corporation’s $1 billion portfolio of six unregulated businesses. Ellen received a master’s degree in Energy Resources Management from Southbank University in London, and a master’s degree in Environmental Sciences from Montclair University in New Jersey. She holds a certificate in Essentials of Management from the Wharton School of Business in Philadelphia, and has taken extensive executive education courses from both the Wharton School and the Smeal College of Business at Penn State University. She is on the Board of the Clean Energy States’ Alliance, a member of the Technical Review Panel for the National Renewable Energy Lab's Wind Technology Program; and on the Board of the Energy Coordinating Agency of Philadelphia. Formerly, Ellen was an Advisory Board member of: the Institute for the Study of Business Markets; the N.J. Clean Energy Advisory Council, and the Southeastern PA Sustainable Development Fund.

Tom Paladino is the founder and president of Paladino & Company a 10 year old green building consulting firm. Tom has built a successful 30 person firm that works internationally on high profile green projects. A recognized leader in sustainability, he draws upon his technical expertise in both architecture and engineering, Tom has brought innovative ideas, a building science knowledge and perspective, and a proven process for design integration to the nearly 500 green and LEED projects. His firm conducts in-depth analysis on systems and materials, as well as economic analysis, to make recommendations that are as financially responsible as they are environmentally responsible. Key projects he has worked on include the Seattle Justice Center; RAND Headquarters; The Pentagon; Microsoft Campus; Abbot Laboratories; and Seminar II at Evergreen State College. Tom has held leadership roles with the US Green Building Council since 1996 and currently serves as Chair of the Finance Committee. Prior to founding Paladino and Co. Tom has worked as a facilities manager at Middlesex County, an engineer at DLR Group and as an architect for Environmental Works. As a former chair of the Seattle AIA Committee on the Environment, Tom helped found the City of Seattle Sustainable Building Task Force, a regional initiative that ultimately led to the adoption of LEED by the City of Seattle, the first city in the country to do so. Tom has a Bachelor of Science in Mechanical Engineering, from the University of Massachusetts (1979), and a Master of Architecture from the University of Washington, (1994). He is an Associate, American Institute of Architects (1995-present), a registered professional engineer in Washington (1991-present) and a LEED Accredited Professional (2002).

Joel Steiker is the Managing Director and co-founder of Murex Investments a Philadelphia based venture capital firm with a focus on socially responsible investing. He has led or co-led all Murex investing activities since 1998 and currently represents Murex on six portfolio companies. Mr. Steiker served on the PayQuik Board since 2004 and was instrumental in raising capital, recruiting the COO, and maintaining cohesion among Board members as PayQuik was sold to Citibank. More recently, Mr. Steiker was the interim CEO for Sivox, as the company merged with Bankers Edge. Mr. Steiker has more than 20 years experience investing and lending in middle-market and small leveraged transactions in both high-tech and traditional industries. Prior to joining Murex, he was a principal in Praxis Associates, a consulting group that focused on providing financial advisory services to small- and mid-market ESOP companies. Mr. Steiker has an MBA from NYU Stern School of Business and a BA from Oberlin College.

John Harper has over 23 years of experience in financing clean and traditional power generation and other infrastructure projects. He has structured over $1.5 billion in financing for multiple community and utility-scale renewable and fossil fuel power projects and for other infrastructure projects. He has worked with private power developers, equity investors, lenders, and state and municipalities. John led a team that advised a leading insurance company on investments in multiple wind power projects. He was the lead author of a 2007 Lawrence Berkeley Laboratory study on utility-scale wind project financing structures. From 2007-9, Mr. Harper served as Vice President, Finance and Treasurer for Ze-gen, Inc, a clean energy company commercializing advanced gasification technology for converting wood waste into near-zero emissions syngas and electrical energy for industrial hosts. John led Ze-gen’s corporate finance activities, including the successful closings of $22.5 million in venture capital equity and mezzanine debt to support Ze-gen’s further growth. Prior to Birch Tree Capital, John extended and sourced debt and equity financing for energy efficiency and power generation projects for enXco, Inc., ABB Structured Finance, Wärtsilä Corporation, and the Overseas Private Investment Corporation. He is active in advocacy efforts for Environmental Entrepreneurs, a national community of individual business leaders who advocate for good environmental policy while building economic prosperity. John also is a member of the Policy Committee of the New England Clean Energy Council and is an angel investor in clean energy companies. John holds a B.A. in Government from Pomona College (1980) and a M.A. in Law & Diplomacy from the Fletcher School of Law & Diplomacy at Tufts University with a focus on financing energy projects in emerging markets.

FOR MORE INFORMATION, PLEASE CONTACT:

Joyce M. Ferris
Managing Partner
Blue Hill Partners LLC
40 West Evergreen Avenue
Philadelphia, PA 19118
215-248-5244
joyceferris "at" bluehillpartners.com