Chairman and CEO of the Herrick Company Norton Herrick has gained recognition in the real estate marketplace with more than $3 billion in sales. Regarded as an authority on sale-leaseback and net lease transactions, Norton Herrick has also invested in green building projects.
Together with its affiliates, like HH Capital Advisors, LLC, the Herrick Company has backed projects that rely on renewable energy sources, such as biomass. Biomass is a domestically produced source of energy that is derived from organic matter like crops, lumber, and animal wastes. Not only do biomass fuels reduce dependence on foreign oil, but they also offer a way to dispose of waste products in an environmentally friendly manner.
An example of one of the Herrick Company’s biomass projects is the leaseback of the Fibrominn power plant, located in Benson, Minnesota. The plant is able to produce 55 megawatts of electricity from roughly 700,000 tons annually of poultry litter and other agricultural biomass.