Value Recovery Lands Pact To Help Army Power Needs

December 21, 2015

Columbus Business First

A Columbus company will help the Army find sources of clean energy as part of a U.S. Department of Defense effort to see military installations obtain a fourth of their power from renewable sources by 20205.

Government consultant Value Recovery Holding LLC landed an initial $5.1 million contract for the project, supporting the Army Office of Energy Initiatives' bid to bring low-cost, large-scale renewable energy projects to some of the hundreds of Army bases in the U.S. The contract's value could rise to more than $30 million if it is extended.

While the Defense Department is directing an energy makeover for all branches of the military, the Army's goal is to find 1 gigawatt of electricity from renewables - enough to power 250,000 homes. Value Recovery will work solely on the Army Initiative.

"Our job is to help them identify various bases that make sense," said Value Recovery CEO Barry Fromm.

The company will act like a quarterback, bringing together private-sector developers and financiers with the Army to ensure the projects are economically viable. Fromm said the company is looking at projects with a capacity to provide at least 10 megawatts of electricity.

Fromm's company reeled in the work from consulting giant Booz Allen Hamilton Inc., which held the contract since September 2011. Booz Allen protested the change, but Value Recovery still took over Oct. 1.

"We had to pick this one up on the run from the previous company," said Charlie Snyder, who will manage the program from a Washington, D.C.-area office. He was part of the original management team for the project with Booz Allen.

It's a one-year contract with three yearly renewal options.

The military and renewable energy might seem like an odd match, but the Department of Defense is wary of cyber and physical security concerns that private utility companies face. It's easier to attack a utility transformer in the middle of nowhere than it is to mess with solar panels sitting on a military base, the thinking goes.

Plus, the military consumes more electricity than ever as it becomes more technologically advances.

It's the first Army contract for Value Recovery Holding, which was founded in 1999. The company typically works on U.S. Department of Energy and state consulting projects.

"For a company our size, in our location, not primarily located within the (Washington) Beltway, we have been enormously successful," said Ben VanBuskirk, who manages a five-year contract that Value Recovery holds with the Energy Loan Programs Office.

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