Gregory L. Bafalis, an energy industry veteran, has been selected as the new chief executive officer of PHG Energy, a privately held Tennessee company focusing on waste-to-energy and solar technologies in the renewable marketplace.
Bafalis’ 30 years of leadership in the clean technology and energy fields ranges from starting his own private equity-backed renewable energy company in Houston to running a Silicon Valley clean tech startup in the algae space. With project development, construction, financing and operations experience in 17 countries during his career, Bafalis has successfully closed over $2 billion in project financings and raised over $250 million in venture capital and private equity funding for a wide array of startup companies, according to the news release.
DeWitt Thompson, V, PHGE’s board chairman, said, “Greg’s extensive business and energy background will be invaluable for PHG Energy. 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,” Thompson said.
“Working with startup companies and new technologies has always been a passion for me,” Bafalis said. “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’ previous accomplishments include raising $168 million in funding as CEO of Green Earth Fuels, and growing the company from zero revenue to over $250 million in under three years
He also worked with Mission Energy as Executive Director for the Brooklyn Naval Yard cogeneration facility, a 380 megawatt gas fired plant constructed in NYC.