PHG Energy Names Gregory Bafalis New CEO
Gregory L. Bafalis joined PHG Energy (PHGE) as CEO. Bafalis brings 30 years of leadership in the clean technology and energy fields.
His experience includes opportunities at fortune 500 companies, starting his own, private equity-backed renewable energy company in Houston, and running a Silicon Valley clean technology startup in the algae space. Bafalis has project development, construction, financing and operations experience in 17 countries, and has successfully closed more than $2 billion in project financings and raised more than $250 million in venture capital and private equity funding for a wide array of startup companies.
“Greg’s extensive business and energy background will be invaluable for PHG Energy,” said DeWitt Thompson, PHGE’s board chairman. “His experience with startup companies in clean technology as well as with large Fortune 500 companies brings a new dimension to PHGE. We are positioned for growth, and he complements our team with an impressive package of skills to guide the future for PHGE.”
“Working with startup companies and new technologies has always been a passion for me,” said Bafalis. “The current environment is ideal for this type of waste-to-energy business, and the value we can bring to customers and investors is substantial. The deployment of sustainable and renewable energy production is a critical and ongoing need in today’s world.”
Bafalis’ accomplishments include:
- Raising $168 million in funding as CEO of Green Earth Fuels and growing the company from zero revenue to more than $250 million in less than three years;
- Directing construction of a 90-million-gal-per-year biodiesel production facility and an 8,000-acre palm oil plantation to supply the Green Earth Fuels plant;
- Securing capital, permitting and construction contracts for algae-to-fuel demonstration facilities in Karratha, Australia, and Harlingen, Texas;
- Managing development of more than 2,000 megawatts of power generation capacity and more than 1,500 miles of gas pipelines in Brazil;
- Serving with Mission Energy as executive director for the Brooklyn Naval Yard cogeneration facility, a 380-megawatt gas fired plant constructed in New York;
- Overseeing operational and financial aspects of 14 power plants and two pipelines in 11 countries as senior managing director, Americas and Europe, for El Paso Corp.; and
- Developing waste-to-energy and waste wood-fired energy projects for Waste Management Inc.
Source: PHG Energy