HOUSTON, Texas, April 9, 2002 — Mobius Risk Group, a provider of energy risk management outsourcing and advisory services for the commercial, industrial and petrochemicals industries, announced today the closing of its initial funding round, led by ABH Capital. The funding will be directed towards corporate development and additional employee hiring.
Mobius offers risk analysis, energy management and execution strategies, contract negotiations, project efficiency evaluations, and utility representation for Fortune 2000 corporations. Services can be delivered via an overall assessment of the company’s energy risk and efficiency; in an outsourced capacity serving as the client’s energy department or as a supplement to the existing energy department; and also as advisors or in an analytical capacity for client’s energy portfolios, acquisitions or divestitures.
“Recent changes in the regulatory environment and energy marketplace have provided the landscape of continual changing conditions that present significant management challenges,” said Eric Melvin, President and CEO of Mobius. “We believe price transparency, efficient execution of strategies, measurement and communications are cornerstones of effective management of an energy portfolio,” he added.
Mobius was founded to fill a need for energy risk management outsourcing and advisory services that perform on behalf of the “client side.” Mobius is accomplishing this need by bringing breadth and depth experience in trading, structuring, utility services and project efficiency that are focused solely on the client’s interests. Traditionally, energy companies bring similar skill sets although acting as a “seller” or as an aggregator for suppliers. Mobius’ unique services are in acting completely as a representative of the client and not as a “middle man.”
Founded by former Enron employees in January 2002, the Mobius management team consists of President and CEO Eric Melvin, former Vice President of New Business Ventures at Enron Energy Services, Houston; Senior Vice President Ken Rubeli, former Manager of Business Development Origination at Enron Energy Services, Houston; Senior Vice President of Efficiency and Technology Richard Palmer, former Senior Director, Structuring at Enron Energy Services, Houston; V.P. Utility Services Wayne Truxillo, former Director of Contract Risk Management at Enron Energy Services, Houston; and Director of Quantitative Services Casey Ragsdale, former Manager of Commodity Structuring at Enron Energy Services.
About Mobius Risk Group
Formed in January 2002 by former Enron employees, Mobius Risk Group provides enterprise wide energy risk management, outsourcing and advisory services to the commercial, industrial and petrochemical industries. Mobius acts on behalf of their clients to develop risk-reducing strategies that improve shareholder value.
Mobius is an enterprise wide energy risk management advisory and outsource firm, that earns fee-based revenues by developing risk-reducing strategies and energy procurement services that improve shareholder value for clients.
The company is comprised of a management team with 85 years of combined energy and risk management experience who have established and managed major energy and commodity trading, structuring, and marketing departments.
For more information on Mobius Risk Group, please visit www.MobiusRiskGroup.com.