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Agreement Nears for Sale of Youngstown Thermal

By District Energy posted 03-27-2019 11:23


Dan O'Brien, The Business Journal


YOUNGSTOWN, Ohio – The court-appointed receiver who manages the assets of Youngstown Thermal Cooling LLC says he’s optimistic that a sale of the district heating and cooling company could be reached in the coming weeks.

“We’re waiting and hoping for a purchase contract,” said Reg Martin, who was appointed receiver of the then-troubled utility in August 2017. “As soon as the attorneys reach an agreement, we’ll motion the court for approval of the sale.”

Martin said Youngstown Thermal has been in discussions with Columbus area-based SOBE Energy Solutions Inc. for several months. “I’m optimistic. I think the reports we’ve given are strong.”

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