Oct. 13, 2009 (PR Newswire) --
CAPE MAY, N.J., Oct. 13 /PRNewswire/ -- October marks another milestone for Fishermen's Energy of New Jersey as the company announced that Michael ("Mike") Madia has been appointed Chief Operating Officer. Mike brings over 25 years of energy and finance experience to the organization, including over nine years as COO of Consolidated Edison Development, Inc., an independent power producer whose energy portfolio amounted to over $1.5 billion of projects. Mike led the effort on behalf of Con Edison to successfully divest in 2008. After leading that effort, Mike founded Culminant Energy Development ("Culminant"), an energy and project development advisory firm focusing on renewable project development and M&A due diligence. Culminant has been involved in terrestrial wind energy projects, a clean coal project that was selected by the US Department of Energy for loan guarantee negotiations, and other renewable and conventional energy projects.
Madia noted, "Fishermen's Energy is on the forefront in developing a new source of renewable energy for the United States, and initially for New Jersey. The principals of Fishermen's Energy formed the company to pioneer a paradigm whereby not only the environmental impacts of new structures offshore would be measured, but their real impact on commercial fishing would be planned for and those impacts mitigated. Under this design, commercial fishing industry participants so dependent upon the natural resources in our ocean are transforming themselves to develop renewable energy in an environmentally responsive manner."
Mike brings a wealth of energy and finance experience to this position, having built the Con Edison Development entity into a profitable business, and previously led a number of large scale project-financed transactions as a Vice President at ABB Energy Ventures.
In appointing Mike to this significant role, Daniel Cohen, co-founder and President of Fishermen's Energy said, "I compliment our executive team for recruiting a seasoned executive possessing a unique combination of skills and experiences that make him an ideal COO for Fishermen's Energy in the next wave of our growth. Mike has a track record of advancing energy projects and enhancing project portfolios. He has built organizations to scale and has worked extensively on complex projects.
