Green River nuclear plant developer receives $30 million in capital
Jul 15, 2010 | 1042 views | 0 0 comments | 4 4 recommendations | email to a friend | print
A company that is pursuing development of a nuclear power plant in Green River, Utah, signed an agreement recently that will provide $30 million in capital funding over the next three years, according to a news release from Blue Castle Holdings, Inc.

Utah-based Blue Castle Holdings entered into the agreement with LeadDog Equity L.P. for private equity financing up to $30 million, according to a statement by Blue Castle. The money will be issued to Blue Castle as payment for new stock sold to LeadDog Equity, the statement said.

By issuing new stock over a three-year time period, the company can raise funds at different times depending on its needs in the long licensing process, the statement said.

The structure of this capital is very complimentary to our licensing schedule,” said Blue Castle CEO Aaron Tilton in the statement.

According to information provided by the Nuclear Regulatory Commission (NRC), Blue Castle Holdings is expected to apply in 2011for the first of several licenses needed to construct and operate a nuclear power facility.

If approved and built, the Green River facility will be the first nuclear power plant in Utah, according to the NRC.

Copyright 2013 The Times-Independent. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

report abuse...

Express yourself:

We're glad to give readers a forum to express their points of view on issues important to this community. That forum is the “Letters to the Editor.” Letters to the editor may be submitted directly to The Times-Independent through this link and will be published in the print edition of the newspaper. All letters must be the original work of the letter writer – form letters will not be accepted. All letters must include the actual first and last name of the letter writer, the writer’s address, city and state and telephone number. Anonymous letters will not be accepted.

Letters may not exceed 400 words in length, must be regarding issues of general interest to the community, and may not include personal attacks, offensive language, ethnic or racial slurs, or attacks on personal or religious beliefs. Letters should focus on a single issue. Letters that proselytize or focus on theological debates will not be published. During political campaigns, The Times-Independent will not publish letters supporting or opposing any local candidate. Thank you letters are generally not accepted for publication unless the letter has a public purpose. Thank you letters dealing with private matters that compliment or complain about a business or individual will not be published. Nor will letters listing the names of individuals and/or businesses that supported a cause or event. Thank you letters about good Samaritan acts will be considered at the discretion of the newspaper.