Stream Energy gets $10 million boost

by louabbott on February 22, 2006

Dallas, TX – Published February 22, 2006

Stream Energy, an electricity provider with a multi-level marketing strategy, got a $10 million investment from a prominent energy investor, saving Stream from collapsing under its own growth.

A private equity fund managed by NGP Energy Capital Management of Irving bought about a 10 percent stake in Stream for $10 million, and provided an additional $2 million credit, Stream said Wednesday in a press release.

“We feel like the business model and the management team are compellingly-strong, and the ongoing opportunity in the electricity marketing area is large as well,” said Ken Hersh, chief executive of NGP Energy, which manages $3 billion.

It’s NGP’s first and only investment in a retail electricity provider or a multi-level marketing company. Mr. Hersh, a family friend of Stream chairman Rob Snyder, said he doesn’t anticipate any more retail electricity investments.

Read the entire article at DallasNews

Also, read our company overview:  Ignite Inc/Stream Energy Facts, News and Review

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