Over a 40-year history, we’ve evolved our investment themes, gaining expertise in a sector which opens doors to new opportunities.
Explore the timeline below to learn more about the evolution of Thermo’s portfolio: several industries with uncorrelated financial drivers, including energy, real estate, industrial companies, fiber, satellite and telecom.
1984
Thermo Founded
Cogeneration
1984
1986
University of Northern Colorado project begins
Cogeneration
1986
1989
Thermo enters natural gas business
Natural Gas
1989
1993
Two new cogeneration projects begin
Cogeneration
1993
1995
Thermo real estate effort begins in Denver’s LODO
Real Estate
1995
1996
Conagra cogen facility started
Cogeneration
1996
1996
Grand Avenue block in Los Angeles purchased at 1/10 of the seller’s cost
Real Estate
1996
1998
Monetization begins with KN Energy
Cogeneration/Natural Gas
1998
1998
Roosevelt in Los Angeles sold
Real Estate
1998
1999
KN Energy merges with Kinder Morgan
Cogeneration
1999
2001
First gas turbine transaction
Industrial
2001
2001
United Engines acquisition
Industrial
2001
2002
Thermo’s communications company Xspedius acquires e.spire Communications out of bankruptcy
Fiber
2002
2003
Gallatin Preserve created in Montana
Real Estate
2003
2004
Thermo acquires Globalstar out of bankruptcy
Satellite/Spectrum
2004
2005
Grand Avenue in Los Angeles Sold
Real Estate
2005
2005
Thermo spins FiberLight out of Xspedius
Fiber
2005
2006
Second gas turbine transaction
Industrial
2006
2006
Xpedius merges with Time Warner Telecom
Fiber
2006
2007
United Engines sold
Industrial
2007
2007
Third Gas Turbine transaction
Industrial
2007
2008
Kinder Morgan buys out Thermo’s remaining cogeneration assets’ and operations fully exited
Cogeneration
2008
2009
GLOBALSTAR ARRANGES FRENCH GOVERNMENT SATELLITE CONSTELLATION FINANCING USING THERMO GUARANTEE AND EQUITY COMMITMENT
Satellite/Spectrum
2009
2010
SECOND GENERATION GLOBALSTAR SATELLITE LAUNCHES COMMENCE
Satellite/Spectrum
2010
2013
SECOND GENERATION GLOBALSTAR SATELLITE LAUNCHES CONCLUDE
Satellite/Spectrum
2013
2014
Time Warner Telecom merges with Level 3 Communications
Fiber
2014
2017
Level 3 Communications merges with CenturyLink
Fiber
2017
2017
Led Series A for Pivotal Commware
Venture
2017
2018
FiberLight reaches 14,000 route miles
Fiber
2018
2020
Initial Investment in ARES
Energy Storage
2020
2021
Investment in XCOM Labs
Telecom/Spectrum
2021
2022
Fiberlight sold to Morrison
Fiber
2022
2022
Globalstar announces innovative direct-to-device deal
Satellite/Spectrum
2022
2022
Invested in AI through Entanglement and SeQure
Cyber
2022
2022
Sold Gallatin Preserve
Real Estate
2022
2022
Sold Restaurant Properties in Denver
Real Estate
2022
2022
Backed Blue Investment Group launch
Alternatives
2022
2023
Backed Stormbreaker’s second fund
Venture
2023
2023
Globalstar licensed XCOM’s technology and brought on Paul Jacobs to lead
Satellite/Spectrum
2023
2024
Co-led Global Telecom Investment with Stormbreaker
Hardware
2024
2024
Added growth capital to Entanglement to drive AI initiatives
AI
2024
2024
Invested in Urbanic with Blue Investment Group
AI
2024
