The Herrick Company, Inc., through its affiliates, including HH Capital Advisors, LLC., invests in green projects that provide significant economic and environmental benefits to local communities, their states, and the entire country. These primarily energy-related projects utilize domestic, renewable fuel sources, such as biomass, to produce electricity and alternative fuels, in addition to building supplies. Biomass is a domestic, renewable energy source, defined by the U.S. Department of Energy as any organic matter available on a renewable basis, such as agricultural crops, wastes and residues, wood wastes and residues, and animal wastes. As an alternative source of energy to fossil fuels and Middle East oil dependence, the use of biomass in green projects promotes national security, economic growth, and environmental benefits. The use of biomass in green projects also rectifies serious and costly environmental concerns caused by the inability to otherwise dispose of these materials in a safe and cost-effective manner. Without the existence of these projects, poultry litter and rice straw, for example, would continue to pose serious health risks, environmental problems, and financial costs to the involved communities and governmental authorities.
The Company’s experience with energy-related transactions dates back to the late 1990s and an investment in Oil & Gas Investments, LLC, the owner of interests in oil and gas leases in the state of Louisiana. In December 2004, The Herrick Company and its affiliate, HH Capital Advisors, LLC, completed the purchase and leaseback of the Fibrominn 55 Megawatt poultry-litter fueled power plant in Benson, Minnesota with $202 million in financing led by Prudential Capital Group, John Hancock Financial Services and Metropolitan Life. This first-of-its-kind poultry-litter fueled power plant in the US and the largest in the world generated 55MW of electricity from approximately 700,000 tons per year of turkey litter in combination with agricultural biomass. Today, The Company continues to pursues green projects through its affiliates, including HH Capital Advisors, LLC.
HH Capital Advisors, LLC is a financial advisory boutique firm that transacts in one-off transactions in various asset classes largely through capital market execution. HH Capital Advisors, LLC is comprised of a management team with unique experience and expertise in the execution of structured finance transactions, focusing on project finance, renewable energy, multimedia entertainment and real-estate ventures. The Company’s unique understanding of and expertise in structured finance enables it to offer creative solutions in structured finance and creative credit enhancement. Our entrepreneurial philosophy and approach, which yields savvy, pragmatic financiers with focused industry knowledge and specialization, is valued by our counterparties. Consequently, HH Capital Advisors, LLC is able to target varied market opportunities with clarity of vision and competitive strength, due to its extensive financial and credit enhancement abilities.
Our goal is to establish a well designed capital structure with a full understanding of the critical issues and leverage that enable us to achieve our desired outcome. HH Capital Advisors, LLC and its principals leverage the credibility they have established with a wide range of financial institutions and insurance companies in order to provide their counterparties with a well-designed financing structure and execution.
Key Management
Norton Herrick is Chairman/CEO of HH Capital Advisors, LLC and has held this position since the Company’s inception in 2002. Mr. Herrick has established a reputation as a creative and astute financier in the industry and has become well known for his ability to structure elaborate and complex financing mechanisms for various financial transactions.
