BlueRock Energy’s new CFO Klaben to focus on growth

SYRACUSE — BlueRock Energy, Inc., a Syracuse–based provider of electricity, natural gas, and green-energy products, recently created the position of CFO to help spearhead its growth and expansion efforts.

On Aug. 21, BlueRock announced the appointment of Jason Klaben as vice president and CFO. He started with the firm on Aug. 12.

Klaben sees BlueRock Energy as a firm that’s “growing” and believes the relationship with the Buffalo Bills has helped it expand into a wider market with a bigger footprint.

“I think the expansion and growth of the company was very attractive for me,” Klaben says.

Klaben will oversee BlueRock’s corporate finance and accounting functions. He’ll report to Philip Van Horne, president and CEO.

Klaben learned about the opening through a “business connection” in the energy industry that he did not name.

BlueRock Energy created the CFO position based on the needs Van Horne was hoping to address, according to Klaben.

“Trying to expand some lines of business for the company and some other business relationships, specifically the banking side,” he adds.

Klaben also works with the firm’s existing accounting and finance group to optimize some of the internal processes, he says.

As vice president and CFO, Klaben will attempt to position the company for continued growth and help expand its lines of businesses into new areas, including energy services.

Customers’ needs stretch beyond electric and gas supply, Klaben says.

They might need “optimization,” in terms of meter-monitoring systems, light-emitting diode (LED) light bulbs, or anything the company can use to help customers save energy in their businesses and other services that BlueRock consultants can provide, Klaben says.

“We secure them through partnerships with other vendors,” Klaben adds.

Additionally, Klaben will continue BlueRock’s efforts to enhance its relationship with its lender.

BlueRock works with M&T Bank, and by optimizing some savings on that relationship, the firm can keep its customer prices low.

“Obviously, if we keep our internal costs as low as [we] can, then it’s going to allow us to continue pass along those savings to our customers,” he says.

BlueRock seeks financing from M&T Bank so it can acquire commodities, such as natural gas and electricity, for its customers. With the wholesale providers, BlueRock gives them credit so it can supply the energy to its customers.

“Those banking relationships allow us to do that, whether it be a letter of credit, cash, or other financial instruments,” Klaben says. 

Background

Klaben brings to BlueRock Energy more than 20 years experience in finance, accounting, audit, treasury, and reporting roles for utilities and independent-power producers, according to the company.

Prior to joining BlueRock Energy, Klaben served as CFO for several energy companies. They included Lansing, N.Y.–based Upstate New York Power Producers and Ithaca–based AES Eastern Energy, a unit of AES Corp. (NYSE: AES).

The bondholders of AES Eastern Energy formed Upstate New York Power Producers to take ownership of two power plants after AES Eastern Energy filed for bankruptcy protection on Dec. 20, 2011, according to a document the Upstate group filed in response to a request for information from the New York Energy Highway, a statewide effort to rebuild the electric-power system.

Klaben began his career in finance and accounting with Coopers & Lybrand, which eventually merged with Price Waterhouse in 1998 to form London–based PricewaterhouseCoopers LLP, a global professional-services firm.

Contact Reinhardt at ereinhardt@cnybj.com