5 Aug 2008 09:57
5th August 2008
Leaf completes a $15 million investment in
Miasolé, a leading CIGS thin-film solar company
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 its participation in the Series E preferred stock financing in Miasolé ("Miasolé" or the "Company") with a $15 million investment, along with investors including Passport Capital and VantagePoint Venture Partners (the company's initial investor). The funding will assist Miasolé to further develop its technology commercialization efforts as well as augment its existing commercial manufacturing capacity.
Miasolé is a manufacturer of high performance and low cost solar photovoltaic (PV) modules, based on CIGS thin-film technology. The Company possesses a wide range of expertise in next generation solar technology development and high volume manufacturing capabilities. Miasolé has designed and built a proprietary and highly automated continuous deposition process that has demonstrated unique attributes and a path to scalability at highly competitive cost basis. The core management team of the Company has more than 100 years of thin-film equipment and process experience.
Peter Tom, Chairman of Leaf, said;
"Leaf is excited to have the opportunity to support a company that is well positioned in the thin-film solar industry, which is poised for tremendous growth potential. Miasolé has demonstrated exceptional manufacturing capabilities that will facilitate low-cost solar power generation."
Joe Laia, CEO of Miasolé, said;
"The funding is a significant milestone for Miasolé and we are delighted to have attracted an investor the caliber of Leaf. It's an exciting day for Miasolé and an endorsement of the Company's business plan."
Simon Shaw, Chairman of Energy & Climate Advisors, the investment advisor to Leaf Clean Energy Company, said;
"Given the strength of the management team and core capabilities demonstrated to date, we believe that this represents an excellent investment opportunity. This investment in Miasolé emphasizes Leaf's commitment to the solar industry."
-Ends -
For further information please contact:
Ricardo Nogueira
Investment Adviser, EEA +1 202 289 8833
Daniel Shapiro,
President, Energy & Climate Advisors +1 225 987 7408
Ivonne Cantu / Oliver Goad
Cenkos Securities plc +44 (0) 20 7397 8900
Martin Stott / Ian Beestin
Bulletin PR +44 (0)7947 915028
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 commercialisation of carbon credits derived from these projects. Leaf is advised by Energy & Climate Advisors, a joint venture between EEA Fund Management Ltd. and Shaw Capital.
www.leafcleanenergy.com
www.eeafm.com
www.shawgrp.com/markets/shawcapital
About Miasolé
Miasolé, headquartered in Santa Clara, CA was formed in 2001 with the goal of developing and commercializing thin-film photovoltaic modules. Miasolé is leveraging expertise in semiconductor manufacturing and a deep understanding of CIGS material to manufacture new and versatile solar products. The company has installed two 20MW nameplate capacity production tools in its Santa Clara production facility.www.miasole.com