Norton Herrick, the chairman and CEO of The Herrick Company, a recognized leader in the real estate industry, directs his company’s activities in numerous other markets, including thoroughbred horse racing, entertainment, fine art, and green projects. The company’s green projects are managed by an affiliated company, HH Capital Advisors, LLC, also headed by Norton Herrick. When considering green investments, HH Capital Advisors focuses primarily on renewable energy projects and specializes even further, concentrating mostly on biomass fuel sources.
Domestic biomass, a renewable energy source, consists of a broad range of organic matter, including crops grown specifically for energy, waste and residue of other crops, and animal waste. Biomass has several economically feasible uses that are also environmentally friendly; the most commonly known are fuels produced from seasonal crops like corn and sugarcane. Brazil, for example, has replaced 40 percent of its gasoline needs with ethanol produced from sugarcane. Furthermore, some biomass is burned in power plants to produce electricity, which also addresses the problem of how to dispose of waste products, like animal waste and grain straws.
Biomass also comes with economic benefits for local communities. Because transporting the quantities of crops necessary to produce ethanol can add significantly to the cost of those fuels, it is often more economically feasible to build refining facilities close to the fields where the crops are produced, thus creating jobs for many area residents.