15 Aug 2008 12:05
Leaf completes a $10 million investment in
MaxWest Environmental Systems, Inc.
Leaf Clean Energy Company ("Leaf") [LSE: LEAF.L], an AIM listed company incorporated for the purpose of investing in clean energy companies and projects in North America, is pleased to announce the completion of a $10 million Series A preferred stock financing in MaxWest Environmental Systems, Inc. ("MaxWest").
MaxWest seeks to deploy proprietary waste-to-energy gasification technology using a variety of waste streams including municipal solid sludge, agricultural waste and other biomass-based material. The MaxWest gasification system represents a low cost, environmentally friendly solution that is an alternative to traditional waste disposal and provides a source of clean renewable energy. Within the wastewater treatment market, MaxWest believes it is first to market with a comprehensive, onsite, commercial-grade waste disposal system utilizing biosolids streams to produce renewable energy.
The MaxWest system is uniquely modular and scalable and has been proven commercially at five different sites throughout North America. The Company will enter into long term contracts to build, own and operate these facilities under waste disposal and/or energy supply contracts with its customers.
Peter Tom, Chairman of Leaf, said:
"This investment in MaxWest further balances Leaf's portfolio with unique waste-to-energy technologies and capital project opportunities. Now, with Leaf's other investments, the Leaf portfolio includes investments across a spectrum of clean energy, including waste-to-energy, biomass energy, alternative fuels, solar energy, and hydroelectric."
Simon Shaw, Director of Energy & Climate Advisors, said:
"With environmental concerns high on the political agenda, Leaf is enthused to be backing a company such as MaxWest that offers a real solution to how we best deal with society's waste and energy predicaments."
Dan Shapiro, Director of Energy & Climate Advisors, said:
"MaxWest represents a unique entry into the emerging waste-to-energy market and provides customers with an option to lower energy costs while reducing environmental impacts associated with traditional waste disposal methods."
Richard Heien, President of MaxWest Environmental Systems, Inc., said:
"MaxWest is extremely pleased to have a company the caliber of Leaf Clean Energy as a strategic investor. Leaf's commitment to MaxWest provides further confirmation of our gasification technology and its application in the biomass waste markets. This investment will allow the Company to accelerate the integration of its technology into these markets and advance the Company's mission of turning today's waste problems into tomorrow's green, renewable energy."
- Ends -
For further information please contact:
Simon Shaw
Director, Energy & Climate Advisors +44 (0) 20 7553 2361
Daniel Shapiro
Director, Energy & Climate Advisors +1 225 987 7408
Ivonne Cantu / Oliver Goad
Cenkos Securities plc +44 (0) 20 7397 8900
Martin Stott / Ian Beestin +44 (0)7947 915028
Bulletin PR
Notes to Editors:
About Leaf Clean Energy Company
Leaf Clean Energy Company ("Leaf") [LSE: LEAF.L], is a publicly traded $400 million clean energy investment company. Leaf was incorporated for the purpose of acquiring interests in, owning, operating and managing clean energy companies and 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 and biofuels. The company's main investment objective is to achieve long term capital appreciation through its acquired interests in the clean energy sector, as well as through the potential generation and commercialization of carbon credits derived from these projects. Leaf is advised by Energy & Climate Advisors, a joint venture between EEA Group and Shaw Capital.
www.leafcleanenergy.com
www.eeafm.com
www.shawgrp.com/markets/shawcapital
About MaxWest Environmental Systems, Inc.
MaxWest Environmental Systems ('MaxWest") designs, builds, owns, and operates waste to energy gasification facilities. MaxWest helps business, industry, and government uniquely meet the challenge of economical, safe, and environmentally friendly waste disposal through the conversion of biomass waste streams to green energy. The MaxWest system is a proprietary technology that has been tested over time and is uniquely designed to convert waste to green energy.
www.maxwestenergy.com