EMSOURCE pioneered environmental liability transfers in 1997

Five months after developing the environmental liability transfer legal structure in 1997, and with support from several insurance companies, bank fiduciaries, and prospective clients, EMSOURCE executed a Letter of Intent with Birmingham Steel Corp.  Less than three months later, EMSOURCE and Birmingham Steel closed on the first environmental liability transfer transaction ever completed in the United States.  Since then, we have worked with dozens of industrial and private equity clients, completing environmental risk transfers on a diverse mix of industrial and environmental legacy situations:

• Steel manufacturing, mothballed foundries
• Oil and gas upstream and downstream assets
• ferrous and non-ferrous mining assets
• Powdered metal