Cofounded by Drew Shaw in 2008, Genalta Power is a true entrepreneurial success story. Having worked previously in the oil and gas sector and the renewable-energy industry, Shaw saw the opportunities available in developing reliable, efficient, and cost-effective power to companies with unique fuel sources that could generate electricity.
As an innovative power company, Genalta Power has successfully gone on to attract and partner with some of the most prominent oil and gas companies in Alberta. By partnering with industry clients, Genalta has turned a whole industry upside down, offering a single-point, cost-effective, and environmentally friendly solution for clients’ power requirements. Simply put, the company offers a better source of power to its clients and joint-venture partners by converting clients’ source energy (waste heat, gas, pressure, stranded gas, and behind-the-fence sales gas) to electricity.
“Being the first to market, we have the advantage when it comes to distributed power,” says Shaw, who today serves as CEO. “We are rapidly building a portfolio of power assets based off of unique energy-source opportunities. Every solution we offer is facility-specific and customized to maximize opportunities to boost energy efficiencies and help our partners improve their overall environmental profiles. Where possible, our projects have an environmental and/or energy-efficiency component to them. We are proud as a company to have paved the path.”
Furthermore, the company bases every decision around its core values of attitude, integrity, and execution, which are at the very heart of Genalta Power’s success. “By focusing and basing decisions around a set of core values, we have been able to drive the success of the company,” Shaw says. “Communicating and having everyone in the company understand the values helps point everyone in the same direction. One way this is evident is through the company’s hiring practices, which ensure all new hires have a positive ‘go-getter’ attitude. Every problem has numerous solutions, and having the right mind-set is important in overcoming obstacles that a company will run into. This has been a key factor in our success.”
How Are You Growing?
“Genalta Power is our people, clients, innovation, and infrastructure. Our core set of values will continue to direct us through these four components to create opportunity and continued growth.”
Currently, the company has produced 37 megawatts, constructed and operational. An additional 47.5 megawatts are under a signed agreement, with another 45.5 slated to be operational by the end of fiscal year 2015. “The contracts and capital raised to date are a considerable expression of confidence in our business model, our strong business relationships, and the abilities of Genalta’s management and staff,” Shaw says. “Our number one advantage continues to be our people, as they work through challenges with a ‘can-do’ and a ‘yes-before-no’ attitude. Our company values our people, efficient execution, and energy innovation, which is why we continue to successfully grow.”
By providing clients with a proven option to reduce operating expenses, increase revenue potential, promote economic growth, enhance energy efficiency, and ensure environmental quality, Genalta Power is constantly developing best-in-class power solutions.
“As a company and a group of people, we know our success comes from not only understanding where we are going but how we are going to get there,” Shaw says. “Genalta Power is our people, clients, innovation, and infrastructure. Our core set of values will continue to direct us through these four components to create opportunity and continued growth.”