- Jan 01
The Early Years
1984-1996 - Gemma founders Joel Canino and Bill Griffin worked together for 12 years building the CNF Industries organization. During that period, Joel served as President and CEO and Bill worked his way up from Project Manager to President. While working together alongside many others who ultimately formed the nucleus of Gemma, the pair developed a successful model for building independent power generation facilities. CNF thrived during those years while Bill and Joel honed the key skills essential for the efficient design, procurement and construction of generation plants using such diverse energy sources as, natural gas, oil, biomass, and wind.
- 1996Aug 01
Rejection and Rebirth
1996 - CNF’s parent company, Kenetech Corporation, was experiencing a challenging economic period. As a solution, the leadership team at CNF proposed a management buyout; when their offer was rejected, Bill and Joel struck out on their own and the idea for Gemma Power Systems, LLC began to take shape. Bill and Joel were born on the same day in June, 15 years apart. They wanted to name their new venture Gemini in honor of their shared astrological sign, but the name had already been registered by another company. They instead chose Gemma, which is defined as a bud that separates from the parent to form a new organism.
- 1997Apr 23
GPS is Founded
Spring 1997 - With a modest investment and foregoing a salary, the founders hired a temporary employee to assist with administrative activities and began to bid work. Because they believed there would be ample opportunities to replace aging power generation facilities in the Northeast, they focused first on this region. Starting with the Dighton Power Project located in Dighton, MA (a 160 MW single-shaft combined cycle power facility), Gemma began to build an impressive resume of projects, which now totals 14,000 MW. They have since expanded to become a national EPC firm as demand for clean power generation grew throughout the country.
- 2002Feb 23Scroll
Early, Sustained Success
2002 - Within five years, Gemma Power Systems, LLC was performing multiple combined cycle projects simultaneously and annual revenues neared $250 million. The Company employed 125 permanent staff and more than 700 craft personnel. Gemma expanded its capabilities into biodiesel and ethanol production facilities.
- 2006Feb 23
The Argan Acquisition
2006 - Argan, Inc. acquired Gemma Power Systems, LLC and has helped to enhance the Company's balance sheet and ability to execute projects at an even higher level.
- 2008Feb 23
2008 - Gemma Renewable Power was formed to meet our clients' needs in the renewable energy sector of the power industry. The senior professionals’ 25 years of renewable energy project development and construction experience enabled Gemma Renewable Power to become a leading EPC firm for wind and solar projects across the country.
- 2012Feb 23
2012 - After years of leasing space in two separate locations, the Gemma companies move into a modern new headquarters building on Hebron Avenue in Glastonbury, CT, bringing the GPS and GRP organizations together under one roof.
- 2013Feb 23
Argan Listed on NYSE
2013 - Gemma's parent company, Argan, Inc., is listed on the New York Stock Exchange, trading under the ticker symbol AGX. Our backlog grows to more than $800 million.
- 2015Jan 23
Gemma Ranked Top Contractor
2015 - Gemma is ranked #10 on ENR magazine’s Top Fossil Power Contractor list and #15 on the Top Power Contractor list.Feb 26
$1.2 Billion in New Business
2015 - Gemma Power Systems wins 3,000 MW of new projects and grows its backlog to $1.2 billion, the highest level in the company’s history.