PEOPLE BEHIND CYANERGY
About the Founders
Remote power systems with traditional industrial engines are a significant contributor to the greenhouse gas (GHG) emissions and are a significant source of GHG in the oil and gas, shipping, and mining industries, as well as the Department of Defense operations. In many countries, governments have already set targets to reduce GHG emissions, and regulators are increasingly implementing policies to incentivize companies to measure, report, and reduce their emissions. In the U.S., the EPA already mandates the reporting of harmful GHG’s, and in 2022, the SEC issued a proposal that public companies should include climate change risks and the GHG emission disclosures in their audited financial information. The SEC proposal also includes an attestation report from a qualified expert, certified by the company’s executives. If enacted, it would increase the impact of reporting inaccurate emissions, not only for the company, but also the employees and the audit firms.
Steve Manz, one of the company’s original founders, had more than 20 years of experience as a CFO in public companies, and as a founder of companies with new technologies and software. He was a CFO in 2006 when public companies were required to adopt Sarbanes Oxley (SOX) certifications, and he believes that emission reporting will have a similar impact as SOX did. He recognized that having accurate emission information will be critical going forward.
Most companies are already making large investments in solutions that can reduce their carbon footprint, so it is vital that companies have something that can measure and monitor emissions as a baseline. Cyanergy has developed new technology that not only provides the required regulatory information, but it also helps the customers reduce their operating expenses by decreasing fuel consumption and lower maintenance costs. Our goal is to provide a high ROI, with economic benefit beyond the compliance requirements.