September 20, 2014 6:22 AM ET

Construction and Engineering

Company Overview of Gemma Power Systems, LLC

Company Overview

Gemma Power Systems, LLC operates as an Engineer, Procure, Construct (“EPC”) contractor, serving power and alternative fuel industries. The company offers development, consulting, engineering, procurement, and construction services. It also provides project development; startup, commissioning, and operations; safety and risk management; and plant maintenance services. In addition, the company offers management/oversight of the construction and startup process, commercial dispute resolution, power generation equipment damage assessment and claim resolution, and evaluation/selection of projects and technologies for investment. It services power, process, pollution control, gas and oil-fired co...

2461 Main Street

Glastonbury, CT 06033

United States

Founded in 1997

Phone:

860-659-0509

Fax:

860-659-0607

Key Executives for Gemma Power Systems, LLC

Co-Founder
Age: 59
President
Age: 56
Vice President of Operations
Chairman of Argan Inc and Chief Executive Officer of Argan Inc
Age: 71
Compensation as of Fiscal Year 2014.

Gemma Power Systems, LLC Key Developments

Gemma Power Systems, LLC Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended July 31, 2014

Gemma Power Systems, LLC announced unaudited earnings results for the second quarter and six months ended July 31, 2014. The company contributed $100.4 million, or 98% of revenues in the second quarter of fiscal 2015, compared to $55.5 million, or 96% of revenues in the second quarter of fiscal 2014. The company recorded $15.1 million in EBITDA for the second quarter of fiscal 2015 compared to $19.6 million for the second quarter of fiscal 2014. The company contributed $150.2 million, or 98% of revenues in the first six months of fiscal 2015, compared to $99.3 million, or 95% of revenues in the first six months of fiscal 2014. The company recorded $22.0 million in EBITDA for the first six months of fiscal 2015 compared to $30.7 million for the first six months of fiscal 2014.

Gemma Power Systems LLC Announces Unaudited Earnings Results for the First Quarter Ended April 30, 2014

Gemma Power Systems LLC announced unaudited earnings results for the first quarter ended April 30, 2014. For the quarter, the company reported that the company contributed $49.8 million, or 97% of revenues in the first quarter of fiscal 2015, compared to $43.8 million, or 94% of revenues in the first quarter of fiscal 2014. The company recorded $6.8 million in EBITDA associated with the stockholders of Argan Inc. for the first quarter of fiscal 2015 compared to $11.1 million for the first quarter of fiscal 2014. Income before income taxes was $8.009 million against $11.98 million a year ago.

Gemma Power Systems, LLC Enters into an EPC Agreement with Moxie Patriot LLC for a Gas-Fired Power Plant

Argan Inc. announced that its wholly owned subsidiary, Gemma Power Systems, LLC (GPS), entered into an EPC Agreement with Moxie Patriot LLC in connection with the design and construction of an 800 MW gas-fired power plant in Pennsylvania. Gemma Power Inc. (GPI), has been funding Moxie Patriot in the development of this power plant project. On May 3, 2013, Moxie Patriot entered into a Membership Interests Purchase Agreement with a third party investor who will provide advances for certain preconstruction costs. The consummation of the purchase of Moxie Patriot, as well as the ability of GPS to fully proceed under the EPC Agreement, is contingent upon the third party investor securing permanent financing for the project.

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