Former PES CEO emerged from retirement to try acquire site

PHILADELPHIA (KYW Newsradio) — Another suitor has emerged as the Philadelphia Energy Solutions refinery winds it’s way through bankruptcy proceedings. 

Phil Rinaldi, who originally formed PES in 2012 then retired in 2017, says a combination of local and nationally elected officials and union members convinced him to get back in the game. 

“This is a place that I kind of consider ‘my baby.’ I was pretty unhappy with the condition of ‘my baby,’ so it didn’t take a lot of urging for me. But I did have a lot of urging from the unions, from the state, local and certainly the federal politicians,” he said. 

Rinaldi says there are many generations of families who have worked there.

“They view this as ‘their place,’ ya know, this has been in the family forever, in that business and they take care of it that way. So I think I’m doing God’s work here to try and be helpful to these people.”

Related:

Rinaldi has formed Philadelphia Energy Industries and wants to buy the PES site. RNG Energy Solutions would join PEI on site and work on renewable biofuels and solar energy. 

“We would be involved with them in those developments, but they’re not involved with us in the acquisition, they are not a partner in the acquisition,” Rinaldi said. 

Rinaldi calls RNG a proven entity with more than $2 billion in projects already built. 

more Philly News (For Your Information)

Leave a Reply

Leave a Comment

  Subscribe  
Notify of