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U.S. Geothermal, Inc.

U.S. Geothermal, Inc.

Sector: Electric And Other Services Combined Region: ID, United States


: | Toronto Stock Exchange: GTH | NYSE MKT: HTM


Geothermal, Inc. develops geothermal energy resources. It is engaged in the acquisition, development and utilization of geothermal resources for producing electricity and is in the renewable green energy business in the Western Region of the United States of America. The company was founded by Daniel J. Kunz and Douglas J. Glaspey in March 2000 and is headquartered in Boise, Idaho.

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Renewable Energy "First" for Oregon Event

PORTLAND, OR 8/19/11 -- U.S. Geothermal's (NYSE/Amex: HTM) Neal Hot Springs project is under way. Senator Ron Wyden of Oregon led a forum of energy influentials at a 2011 event at Portland's Ecotrust Building -- A Renewable Energy "First" for Oregon. U.S. Geothermal CEO Daniel Kunz; Department of Energy Senior Fellow Steve Spinner; Enbridge executive John Whelen, and Renewable Northwest Project executive director Rachel Shimshak also presented at the event in downtown Portland's Pearl District.

U.S. Geothermal, Inc. video

Renewable Energy "First" for Oregon Event

U.S. Geothermal, Inc. video

About U.S. Geothermal, Inc.

Executives

John Walker, Chairman of the Board
Age 63, is a director and the Chairman of the Board of Directors of the Company. He has held that position since December 2003. He has served (and continues to serve) as Chief Executive Officer of Mihaly International Canada Limited since 1987. Mr. Walker is also a Senior Advisor of Kensington Capital Partners and a National Director of Trout Unlimited Canada. Mr. Walker has a 35 year history in urban planning, energy security and power plant development in Ontario and internationally as well as experience on both public and private sector boards. Mr. Walker was a founding director of the Greater Toronto Airports Authority in 1992 and chaired the first Planning and Development Committee of the Board which provided oversight in the construction of C$4.4 billion terminal complex at Toronto Pearson Airport completed in 2004. He was instrumental in doing energy security studies in 2002 and 2003 which led to the development of an 117MW cogeneration power plant at Toronto Pearson Airport which commenced operations in 2005.
Daniel Kunz, CEO and Director
Age 60, is the co-founder, Chief Executive Officer and a director of the Company. He has served as a director of the Company since March 2000, Chief Executive Officer since December 2003, and was Chairman of the Board of Directors from March 2000 until December 2003. He has also served as President of the Company from December 2003 to September 2011, and President of Geo-Idaho from February 2002 until September 2011. Mr. Kunz has more than 30 years of experience in international mining, engineering and construction, including, marketing, business development, management, accounting, finance and operations. Mr. Kunz served as Chairman of the Board of U.S. Cobalt Inc. until December 2004. He was senior vice president and Chief Operating Officer of Ivanhoe Mines Ltd. from 1997 until October 31, 2000, and served as its President, Chief Executive Officer and Director from November 1, 2000 until March 1, 2003. From March 2, 2003 until March 8, 2004, Mr. Kunz served as President and CEO of Ivanhoe’s subsidiary Jinshan Gold Mines Inc. Mr. Kunz was a founder of and directed the 1993 initial public offering of the NASDAQ listed MK Gold Company (President, Director & CEO) and for 17 years held executive positions with NYSE listed Morrison Knudsen Corporation (including Vice President & Controller). Mr. Kunz holds a Masters of Business Administration, a Bachelor of Science in Engineering and an associate accounting degree. He is currently a director of several companies publicly traded on the TSX-V, including Chesapeake Gold Corp. Mr. Kunz’s qualifications to serve as a director of the Company includes his over 30 years of experience in international mining, engineering and construction and his many years of senior management and NYSE, NASDAQ and TSX director experience.
Doug Glaspey, President, COO and Director
Age 60, is the co-founder, President and Chief Operating Officer and a director of the Company. He has served as a director of the Company since March 2000, President of the Company since September 2011, and Chief Operating Officer of the Company since December 2003. Mr. Glaspey served from March 2000 until December 2004 as the President and Chief Executive Officer for the TSX Venture Exchange (“TSX-V”) listed U.S. Cobalt Inc. until the acquisition of Geo-Idaho in December 2003. He also served as a director and the Chief Executive Officer of Geo-Idaho from February 2002 until the acquisition of Geo-Idaho in December 2003. During his career in the mining industry, he has held operating positions with ASARCO, Earth Resources Company, Asamera Minerals, Atlanta Gold Corporation and Twin Gold Corporation. Mr. Glaspey has 34 years of operating and management experience. He holds a Bachelor of Science in Mineral Processing Engineering and an Associate of Science in Engineering Science. His experience includes public company financing and administration, production management, planning and directing resource exploration programs, preparing feasibility studies and environmental permitting. He has formed and served as an executive officer of several private resource development companies in the United States, including Drumlummon Gold Mines Corporation and Black Diamond Corporation. He is currently a director of TSX-V listed Thunder Mountain Gold, Inc., which is also quoted on the OTC Bulletin Board. Mr. Glaspey’s qualifications to serve as a director of the Company include his over 30 years of experience in the natural resource industry and his many years of senior management and director experience.
Kerry Hawkley, CFO and Secretary
Age 58, serves as the Chief Financial Officer and Corporate Secretary of the Company. He has served as the Company’s controller since July 2003, and became CFO as of January 1, 2005. From July 2003 to December 2004, he also provided consulting services to Triumph Gold Corp. From 1998 to June 2003, Mr. Hawkley served as controller, director and treasurer of LB Industries. Mr. Hawkley has over 35 years experience in all areas of accounting, finance and administration. He holds Bachelor of Business Administration degrees in Accounting and Finance. He started his career as an internal auditor with Union Pacific Corporation and has held various accounting management positions in the oil and gas, truck leasing, mining and energy industries.
Jonathan Zurkoff, Treasurer and Executive Vice President, Finance
ge 56, serves as the Treasurer and Executive Vice President, Finance of the Company, a position he has held since September 2011. From January 2009 to May 2009, Mr. Zurkoff served as a financial consultant to the Company. He then served as the Vice President Finance of the Company from June 2009 until September 2011. Mr. Zurkoff served as CFO of Tamarack Resorts from 2004 to 2008. Mr. Zurkoff has over 25 years of experience in engineering, construction, and all phases of project development with an emphasis on project and corporate finance. Mr. Zurkoff holds a Masters of Business Administration, a Masters of Science in Groundwater Hydrology, and a Bachelor of Science in Geology. Mr. Zurkoff has held positions in Tamarack Resort (CFO), Process Technologies (CFO & COO), and Morrison Knudsen Corporation (now URS).
Paul Larkin, Director
Age 62, serves as a director of the Company, a position he has held since March 2000. He served as Secretary of the Company from March 2000 until December 2003, and served as a director and the Secretary-Treasurer of Geo-Idaho from February 2002 until its acquisition in December 2003. Since 1983, Mr. Larkin has also been the President of the New Dawn Group, an investment and financial consulting firm located in Vancouver, British Columbia, and a director and officer of various TSX-V listed companies. New Dawn is primarily involved in corporate finance, merchant banking and administrative management of public companies. Mr. Larkin held various accounting and banking positions for over a decade before founding New Dawn in 1983, and currently serves on the boards of the following companies which are listed on the TSX-V: LNG Energy Ltd., Condor Resources Ltd., Kenai Resources Ltd., Tyner Resources Ltd. Gstaad Capital Corp. and Westbridge Energy Corp. Mr. Larkin’s qualifications to serve as a director of the Company include his many years of senior leadership and management experience in corporate finance, merchant banking and administrative management of public companies.
Dr. Leland "Roy" Mink, Director
Age 72, serves as a director of the Company, a position he has held since November 2006. He served as Program Director for the Geothermal Technologies Program at the U.S. Department of Energy (DOE) from February 2003 to October 2006. Prior to working for the DOE, Dr. Mink was the Vice President of Exploration for the Company from June 2002 to February 2003. He has also worked for Morrison-Knudsen Corporation, Idaho Bureau of Mines and Geology and Idaho Water Resources Research Institute. Dr. Mink’s qualifications to serve as a director of the Company include his many years of senior leadership and management experience in the geothermal energy industry.
Dennis Gilles, Director
Age 54, serves as a director of the Company, a position he has held since September 2011. Mr. Gilles is a senior executive with 30 years experience in the management, operations, maintenance, engineering, construction and administration of power and petrochemical plants and their related facilities. Mr. Gilles’ primary activities have included the identification, evaluation and acquisition of existing renewable projects or portfolios, as well as heading development of new green-field opportunities. As Senior Vice President of Calpine Corporation, Mr. Gilles managed the company’s geothermal portfolio of 750 megawatts at the Geysers geothermal field where he was instrumental in consolidating the majority of the ownership interests into a single entity. Mr. Gilles was part of the expansion and growth of Calpine Corporation from the very first megawatt to what is now the largest independent power producer in the United States. Mr. Gilles holds a Masters of Business Administration and a Bachelor of Science in Mechanical Engineering.
Kevin Kitz, Vice President Project Development
Mr. Kitz, Boise, Idaho, is a registered mechanical engineer who has worked exclusively in the geothermal industry since 1985. He has broad experience and responsibilities that have included PPA negotiation, resource development and optimization, power plant design, construction, and operation, drilling, and transmission. Before joining U.S. Geothermal in 2003, Mr. Kitz spent seven years in the Philippines working as an engineer and in engineering management on Unocal's projects. Mr. Kitz also worked in Indonesia and California on projects at Heber, the Geysers and Salton Sea.
Bob Cline, Vice President Engineering
Mr. Cline, Boise, Idaho is a registered Civil Engineer with over 25 years experience developing energy and water resources projects in the western U.S. Prior to joining U.S. Geothermal, Mr. Cline was Manager of Engineering at Ida-West Energy Company, playing a key role developing several hydroelectric and gas-fired generating facilities, and was instrumental in several highly successful hydroelectric facility acquisitions. Prior to 1991, Mr. Cline worked 9 years for the US Bureau of Reclamation where he was involved in engineering, contracting and construction of various water resources related projects in Arizona.
William Teplow, Vice President Exploration
Mr. Teplow, California has 30 years of successful geothermal exploration experience covering the western US, Hawaii and Central America. His expertise includes the design, costing, and execution of integrated geophysical exploration programs, production and injection well targeting, wellsite geologic management and 3-D geologic modeling of geothermal reservoirs. He has a Bachelor’s degree from the University of California and is a California Registered Geologist.
Christopher Harriman, President US Geothermal Services, LLC
Mr. Harriman, Burley, Idaho, has over 10 years of power management experience and has eighteen years of industry experience. Mr. Harriman worked for Black Hills Generation as plant manager of two, ten megawatt cogeneration facilities in southern Idaho. He also spent eight years with Exxon Shipping, and served in the U.S. Coast Guard.

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