Detroit Renewable Energy LLC (DRE) announced today that Cynthia J. Pasky, Strategic Staffing Solutions (S3) president and CEO, has joined its board of managers. DRE is a consortium of renewable-energy generation and distribution companies committed to providing the City of Detroit with safe, reliable, and cost-effective solutions for clean energy and waste disposal.
Pasky founded S3, a Detroit-based global information technology and business services company, in 1990 and has grown the company to 26 branch locations in the U.S. and Europe with revenues of more than $220 million annually. In addition to leading her rapidly growing business, Pasky is chair of the Downtown Detroit Partnership and sits on the boards of Business Leaders for Michigan, the Community Foundation for Southeastern Michigan, and the Foreign Investment Advisory and Supervision Council of Lithuania.
Detroit Renewable Energy Chairman and Chief Executive Officer Steven A. White welcomed Pasky to the new role. “We are delighted to have Cindy join us in guiding DRE’s mission to serve Detroit’s long-term energy and environmental infrastructure needs,” he said. “We applaud, and we enthusiastically share, her commitment to a culturally vibrant, economically healthy, and environmentally sustainable Detroit.”
Pasky joins a DRE Board of Managers focused on improving the value of the company’s investments in Detroit’s energy and environmental infrastructure and its efforts to support community and economic development throughout the city. Since 2010, DRE and its parent company, Atlas Holdings LLC, have invested more than $65 million in improving the operational, environmental, and financial performance of its local renewable energy network. In July, despite challenging financial markets and the city’s municipal bankruptcy process, DRE successfully raised an additional $55 million in long-term financing, consisting of tax-exempt Limited Obligation Revenue Bonds issued by the Michigan Strategic Fund, to support expanded investment in these assets.
“Cindy’s in-depth knowledge of Detroit, her industry acumen, and her proven dedication to the quality of life here in the city will bring vital perspective and expertise to our business strategy,” said White.
“Detroit and our region are in great need of companies that are committed to creating new solutions for services that best serve our citizens,” said Pasky. “DRE has already demonstrated this ability in Detroit and I am looking forward to working with the company to help leverage and maximize its potential in our region.”
About Detroit Renewable Energy
Detroit Renewable Energy LLC is the holding company formed in 2010 for the independent operations of Detroit Thermal, LLC, a district heating business which provides efficient heat to approximately 145 buildings in the Detroit central core; Detroit Renewable Power LLC, operator of the energy-from-waste facility located in Detroit; and Hamtramck Energy Services LLC, which provides operating and maintenance services to industrial customers, including several General Motors plants, primarily in the Detroit area.
About Atlas Holdings LLC
Based in Greenwich, Conn., Atlas Holdings is comprised of 12 companies with more than 10,000 employees that operate from more than 90 facilities throughout North America, Europe, Asia, and Australia, generating in excess of $3.0 billion annually. Its businesses are engaged in a broad spectrum of industries, including food and agriculture, wood products and building materials, pulp and paper manufacturing, packaging, capital equipment, and industrial and business services. Atlas Holdings specializes in the purchase of struggling middle-market companies — including corporate carve-outs and corporate divestitures — in industries it knows well. Atlas works closely with its operating partners and management teams to build strong companies that can sustain long-term success. Visit www.atlasholdingsllc.com to learn more about Atlas Holdings.