ELYRIA — The county Port Authority approved a $3.8 million loan Monday for a geothermal energy company that plans to set up shop in Lorain.

Ray DiTomas, vice president of Global Green Technologies and Solutions, said the money will be used to purchase drilling equipment that the company will use to install geothermal heating and cooling systems around the nation.

A final decision on where in Lorain to locate Global Green’s national headquarters has not been finalized, but the company is considering St. Joseph Community Center, DiTomas said. The company also plans to have a separate facility — again, no location has been selected — to serve as a storage and repair station for drilling rigs and vehicles. And in the next three to five years, DiTomas said, the company plans to build “a high performance building some- othwhere in Lorain County.”

The company plans to create at least 20 new jobs.

Global Green is also in negotiations to purchase a Des Moines, Iowa, company with a history in the geothermal energy business, but DiTomas declined to provide specifics.

County Commissioner Ted Kalo said last week that the county has been pursuing Global Green for the past nine months.

DiTomas said the company looked at several other Northeast Ohio locations and also looked out of state before settling on Lorain County.

The county made a strong pitch — including the loan — to get Global Green, DiTomas said.

The company will spend far more than just the $3.8 million from the county on its equipment, which DiTomas said isn’t cheap.

“We’re excited to become part of the Lorain community,” he said.

The county on Monday would not allow a reporter to review documents that accompanied Global Green’s loan application, citing protected corporate information included in the application that the company doesn’t want made public.

Commissioner Lori Kokoski, who had initial reservations about making the loan, praised the Port Authority’s decision.

“Anytime you bring more jobs to the city and the county it’s a good deal,” she said.

Contact Brad Dicken at 329-7147 or bdicken@chroniclet.com

 

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