NEW YORK, March 23 /PRNewswire-FirstCall/ -- MMC Energy, Inc. (BULLETIN BOARD: MMCN) today announced that its business and financial update audio presentation is now posted on the "News" section of the company's web site at http://www.mmcenergy.com/.
About MMC Energy, Inc.:
MMC Energy is an energy management company that acquires and actively manages power generation assets in the United States. Our mission is to acquire a portfolio of small to mid size, or below <250 megawatt, or "MW," power generation assets. To date, we have acquired three power generation assets in California, totaling 110 MW of capacity, and are in the process of expanding one of these assets. We are pursuing additional acquisitions of small to medium-sized power generating facilities primarily in California, Texas, and the Mid-Atlantic and Northeastern United States. We are headquartered in New York City and traded on the NASDAQ OTC Bulletin Board.
The Company's business strategy includes:
* Targeting power constrained electric transmission grids -- We focus our
asset acquisition strategy on regions (1) with high electricity demand
relative to limited available local electric generation capacity in a
transmission constrained region, (2) where electricity demand response
services can be sold at premium prices to transmission grid operators
and end use customers and (3) where "natural gas is on the margin,"
meaning that electricity prices are highly correlated with natural gas
prices and most subsequent increases in gas prices can therefore be
passed on to the consumer in the form of higher electricity prices.
* Acquiring electricity generation and infrastructure related assets -- We
target: (1) small to mid-size electric generation facilities (<250MW)
that can be purchased at a discount to comparable facilities and (2)
companies that provide additional ancillary services and transmission
grid optimization technologies.
* Post acquisition asset restructuring -- We seek to increase operational
efficiency and cash flow by hands-on restructuring the operations of
assets we acquire and control.
* Revenue and contract enhancement -- We believe we can increase
profitability of acquired and controlled assets, while minimizing
market-based risk through structuring multiple revenue streams,
including: capacity agreements, ancillary reliability services and
physical power (energy) contracts.
Forward Looking Statements:
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the Company's ability to expand existing generating facilities and exploit acquisition opportunities. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our inability to generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's 2006 Annual Report on Form 10K-SB. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, other than as may be required by applicable law or regulation.
