Ohio Air Quality Development Authority
Value Recovery Holding was selected by the Ohio Air Quality Development Authority (the OAQDA) to review and underwrite all applications and assist with managing the Program overall. As part of our contract with the OAQDA, we helped design and create the State of Ohio’s $84 million non-coal portion of the Advanced Energy Program. Our team provides a number of public outreach and stakeholder meetings across the State of Ohio, reaching several hundred business and community leaders. One of the OAQDA’s goals was to reach out to as many businesses in the energy sector as possible while the program was being designed. The client was under an aggressive schedule to launch the program, so in addition to assisting the OAQDA in developing the Advanced Energy Program, our team also delivered presentations across Ohio that helped OAQDA inform the public and other state agencies about this new Advanced Energy Program. Recognizing the aggressive launch schedule of the OAQDA, while the program was being designed, our technology team created the online applications currently being used, as well as the creation of a web site for the program.
Through the underwriting process for Ohio’s Advanced Energy Program, the team works directly with CFOs and executive managers from companies that have applied for funding from the Advanced Energy Program. Our underwriters review in detail the financial information provided by the applicants, including both historical financial data as well as financial and business projections to ensure there is a clear understanding of company backgrounds and the proposed project. This data, along with an in-depth business and technical review is used by our management team to make recommendations to the OAQDA regarding whether or not to support a project.
Our marketing services have been used by State of Ohio for its Advanced Energy Program. Specifically, VRH assisted with direct communications including web site designing, web site content, and conducting webinars. Additionally, we have been asked to conduct target marketing to ensure quality applications are received.
Our team of project managers and underwriters has a full understanding of the various key sectors within the energy field. As part of this contract, OAQDA has also requested that we help to see that the proposed energy projects address energy efficiency and demonstrate environmental improvements over currently available technologies. Under the OAQDA guidelines, eligible projects include renewable energy resources from sources such as solar, wind, hydroelectric, geothermal, certain fuels derived from solid wastes, advanced nuclear energy technology, fuel cells, as well as energy efficiency, distributed generation. Our underwriters need to understand not only the financial and business strength of the applicant, but need to have a strong understanding of the energy sector in Ohio, the Midwest and nationally.
We also work with other state agencies and federal agencies. In cases when a project may be denied funding from the Advanced Energy Fund, Value Recovery Holdings or representatives from the OAQDA can direct the applicants to other funding resources.
To ensure all applications were reviewed with consistency and rigor by our underwriting team and evaluated with the same thoroughness by our management team, we have developed a methodical process, an operations manual and extensive staff training to ensure consistency of application validations. The manual has become an invaluable tool that is used by our team as a daily guide while reviewing applications
Under the OAQDA contract, Value Recovery Holdings provides regular reports to our client on each application and potential projects as well as all other corollary information. The reports allow the client to quickly note the status of projects by location, energy sector, size and impact. In addition, we provide internal daily reports to track the application activity to each of our underwriting teams, which help ensure projects stay on schedule and meet all required deadlines. Through our project management software, we have the ability to customize special reporting based upon client requirements.