whitewater.jpgVancouver-based Run of River Power Inc. has one of the coolest stock symbols, ROR, on the TSX Venture Exchange in Canada. Run of River operates one hydroelectric plant, generating electricity and revenues, which is a lot more than many penny stock companies can say.

Run of River has plans for many other hydroelectric plants, such as projects for 161 megawatts of power from streams near Port Coquitl-Burke Mountain.

However, the company's plans are not without controversy. On September 27, 2007, straight.com reported that a local government representative for areas that would be affected, Mike Farnworth, said, "There are questions around some of the streams as they relate to fish-bearing, particularly on Boise Creek, and also the size of the project."

Another local government representative, Michael Sather, said, "This [project] in the upper Pitt should get a red light."

In more recent news, on February 11, 2008, Run of River issued a press release that it has acquired all shares of Western Biomass Power Corp., trading shares of Run of River itself to buy the shares. However, the vast majority of the Run of River shares are to be held in escrow and released only if certain conditions are met:
  1. Western Biomass must execute a joint venture agreement with Tsilhqot'in National Government, and a feasibility study of the Western Biomass project must prove favorable.

  2. There must be a long term power purchase agreement between BC Hydro, Western Biomass, and the Tsilhquot'in National Government.

If the first condition is not met by December 31, 2008, Western Biomass shareholders return to "GO" and do not collect any escrowed shares of Run of River. If the second condition is not met by December 31, 2009, then about a third of the escrowed shares of Run of River will be forfeited.

ROR.gifWestern Biomass' plan is to build wood-burning power plants in British Columbia, using pine beetle killed trees and logging and mill waste.

Run of River's stock, ROR, has had a wild ride itself over the last year, rising from below 45 cents a share to above 70 cents a share and back down to below 45 cents a share. The last trade was at 44 cents a share.

Although ROR may bring to mind "roar," ROR is often used as an abbreviation for "Risk of Ruin". So, it's a doubly appropriate name for a hydroelectric company with a penny stock.