Energy investment banker, Matthew R. Simmons will retire from Simmons & Company International, one of the largest investment banking practices serving the energy industry, effective June 30. He intends to devote his full focus to The Ocean Energy Institute.
Founded in 2007, the Ocean Energy Institute is a think-tank and venture capital fund addressing the challenges of US offshore renewable energy.
“Since founding Simmons & Company International 36 years ago, I have truly enjoyed being a part of the firm’s growth and success,” said Matt Simmons, Founder of Ocean Energy Institute. “In the three years since I founded Ocean Energy, my passion for renewable energy R&D and investment has continued to grow and this venture requires my full attention.”
Simmons has long been a proponent of alternative and renewable energy. As an oil industry insider, Simmons shocked the world with his book about declining oil reserves. OGFJ Editor Don Stowers sat down with Simmons to talk about his efforts to turn the world’s eye to other forms of energy.
The Ocean Energy Institute works to coordinate the diverse factors that will help make ocean energy a reality, including energy system architecture, offshore wind technology, environmental interests, stakeholder concerns, industrial partners, academic research, financial firepower and political factors.
“Each of our employees shares a deep sense of gratitude toward Matt for the leadership he demonstrated for so many years,” said Mike Frazier, chairman, president and CEO, Simmons & Company International.