28th Apr 2008 12:49
Leaf Clean Energy Company28 April 2008 28 April 2008 Leaf completes a $17 million investment in SkyFuel, Inc. Leaf Clean Energy Company ("Leaf") (LSE: LEAF.L), an AIM listed companyincorporated for the purpose of investing in clean energy companies and projectsin North America, is pleased to announce the completion of a $17 million SeriesB preferred stock financing in SkyFuel, Inc ("SkyFuel") led by Leaf. SkyFuel isa technology leader for next-generation utility-scale solar thermal powersystems and is an industry leader in advanced materials and components. SkyFuel will use the funding to commercially deploy its breakthrough SkyTroughTM, a high-performance, low cost parabolic trough solar collector. TheSkyTroughTM incorporates the proprietary, patented ReflecTechTM film, which is ahighly reflective and unbreakable mirrored film that has the potential tosignificantly lower the cost of solar energy generation by replacing expensiveglass mirrors. The funding will also allow SkyFuel to pursue solar markets andprogress research and development on the Linear Power TowerTM, ahigh-temperature linear Fresnel system. SkyFuel is currently working withseveral independent power producers to develop utility-scale solar thermal powerplants in the U.S. and abroad. Peter Tom, Chairman of Leaf, said; "This is a great opportunity for Leaf to partner with a leading solar CSPtechnology provider. We are excited by the prospect of helping SkyFuel deliversuperior production solutions to the solar thermal industry." Dr. Arnold Leitner, SkyFuel founder and CEO, said: "The SkyTroughTM will disrupt the solar thermal power market, The SkyTroughTMsignificantly advances parabolic trough design using advanced materials togreatly reduce cost while continuing to deliver the proven performance andsimplicity of the only currently commercially viable solar thermal powertechnology. Simon Shaw, Chairman of Energy & Climate Advisors, said: "SkyFuel's technologies represent cutting edge improvements and we believe theyhave the mix of know-how and management capability to make a positive mark inthe solar sector." Dan Shapiro, President of Energy & Climate Advisors, said: "This investment in SkyFuel secures Leaf a position in a solidly differentiatedsuite of technology based on products in the value chain of the solar CSP marketas well in a superior management team that has developed a strategy, products,and configuration that make concentrated solar plants competitive with fossilfuel power. We are excited about the promise of the emerging solar energymarket and SkyFuel's success in it," - Ends - For further information please contact: Kevin McNultyDirector, Energy & Climate Advisors +1 281 368 4452 Ricardo NogueiraDirector, Energy & Climate Advisors +1 202 756 2944 Daniel Shapiro,President, Energy & Climate Advisors +1 225 987 7408 Ivonne Cantu / Oliver GoadCenkos Securities plc +44 (0) 20 7397 8900 Claire Burston / Eleanor PunterPenrose Financial +44 (0) 20 7486 4888 Notes to Editors: About Leaf Clean Energy Company Leaf Clean Energy Company ("Leaf") (LSE: LEAF.L), is a publicly traded $400million clean energy investment company. Leaf was incorporated for the purposeof acquiring interests in, owning, operating and managing clean energy companiesand projects primarily in North America. The sector spans multiple industries,including wind energy, solar energy, energy efficiency, pollution control,emission credit aggregation, waste-to-energy, wave energy, biomass power andbiofuels. The company's main investment objective is to achieve long termcapital appreciation through its acquired interests in the clean energy sector,as well as through the potential generation and commercialization of carboncredits derived from these projects. Leaf is advised by Energy & ClimateAdvisors, a joint venture between EEA Group and Shaw Capital. www.leafcleanenergy.com www.eeafm.com www.shawgrp.com/markets/shawcapital About SkyFuel SkyFuel, Inc. is emerging as a world leader in the design and deployment ofconcentrating solar power (CSP) systems. The Company designs turnkeylarge-scale solar plants that produce steam for power generation, desalination,wastewater treatment and other industrial applications. SkyFuel's solar plantscan be integrated into existing facilities using its proprietary FuelSaverTMapproach, or can be built as stand-alone solar power plants. SkyFuel is focusedon the development of parabolic trough and linear Fresnel CSP systems, as wellas thermal energy storage. In November 2007, the U.S. Department of Energyselected SkyFuel to receive grant funding for the development of the LinearPower TowerTM. www.skyfuel.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
LEAF.L