Geothermal founder files $50 million suit
Stephen Munson filed the suit against investment funds created by Merrill Lynch Commodity Partners and Denham Capital Management, as well as board members they appointed.
Munson founded Vulcan Power Co. in 1991, and served as its president, CEO and chairman until new directors, appointed by the new investors, ousted him in October and fired him on November 20.
Vulcan Power officials say the complaint is without merit while investors declined to comment.
Munson portrays himself in the lawsuit as a visionary entrepreneur who built up privately held Vulcan Power so that it had one of the largest geothermal portfolios in the country.
Related News
Ontario's Clean Electricity Regulations: Paving the Way for a Greener Future
OTTAWA - Ontario has taken a significant step forward in its energy transition with the introduction of new clean electricity regulations. These regulations aim to reduce carbon emissions, promote sustainable energy sources, and ensure a cleaner, more reliable electricity grid for future generations. This article explores the motivations behind these regulations, the strategies being implemented, and the expected impacts on Ontario’s energy landscape.
The Need for Clean Electricity
Ontario, like many regions around the world, is grappling with the effects of climate change, including more frequent and severe weather events. In response, the province has set ambitious targets to reduce…
