LEAF.L Regulatory News (LEAF)

24 Apr 2008 07:01

Leaf Clean Energy Company24 April 2008 Leaf completes a $20 million investment in Range Fuels Inc., a leading cellulosic ethanol firm 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 its participation in the completion ofa Series B preferred stock financing in Range Fuels Inc. ("Range Fuels" or the "Company") with a $20 million investment. The funding will assist Range Fuels indeploying the first phase of its cellulosic ethanol plant in Soperton, Georgia,scheduled to commence operations in 2009. Central to the Range Fuels business plan is its unique, proprietary and low-costthermo-chemical conversion technology that converts a variety of biomassfeedstock into alcohols, including ethanol. The Soperton facility is expectedto be the world's first commercial-sized cellulosic ethanol plant. Range Fuelswill use non-traditional feedstocks such as wood chips and other forms ofagricultural residues in conjunction with its innovative conversion technologyto produce cellulosic ethanol. Range Fuels' ability through its technology toutilize different types of cheap and abundant cellulosic biomass types makes itless dependent on a single feedstock source than conventional ethanol productionplants. Range Fuels has also formed strategic partnerships with market leadersin an effort to accelerate the commercialization of its technology at industrialscale and achieve a first to market position. Peter Tom, Chairman of Leaf, said; "This is an exciting investment for Leaf. Range Fuels is at the frontier ofdeveloping a world-class platform for next-generation renewable fuels derivedfrom non-traditional feedstock." Mitch Mandich, CEO of Range Fuels, said; "We are delighted to be partnered with Leaf and we welcome the relationship thatthis investment brings to the affiliates of Leaf's advisors, Shaw Capital andEEA Fund Management Ltd through Energy & Climate Advisors. It's an exciting dayfor the Company since we believe this partnership will be a tremendous asset aswe look forward to the advancement of our business plan and vision." Vinod Khosla, Founder of Khosla Ventures, said; "We are pleased to have Leaf and their advisors, EEA Fund Management Ltd andShaw Capital, involved in this venture and welcome their support and strategicrelationships in helping deliver value for all shareholders." Simon Shaw, Chairman of Energy & Climate Advisors, the investment advisor toLeaf Clean Energy Company, said; "With Leaf's investment in Range Fuels we continue to make significant stridesforward in building our investment portfolio in the clean energy sector." -Ends - For further information please contact: Ricardo Nogueira Investment Adviser, EEA +1 202 756 2944 Daniel Shapiro, President, Energy & Climate Advisors +1 225 987 7408 Claire Burston / Eleanor Punter Penrose Financial +44 (0) 20 7786 4888 Ivonne Cantu / Elizabeth Bowman +44 (0) 20 7397 8928 Cenkos Securities plc 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 commercialisation of carboncredits derived from these projects. Leaf is advised by Energy & ClimateAdvisors, a joint venture between EEA Fund Management Ltd. and Shaw Capital. www.leafcleanenergy.com www.eeafm.com www.shawgrp.com/markets/shawcapital About Range Fuels Inc. Range Fuels Inc. is focused on green energy and the production of cellulosicethanol. The company does not use food products like corn, but rather uses wastematerials and other non food sources and turns them into valuable products. Thecompany's innovative technology uses wood chips, municipal waste, paper pulp,olive pits, and more, and converts those materials to ethanol. The company's K2system uses a two step thermo-chemical conversion process. The first stepconverts the biomass to synthesis gas and the second step converts the gas toethanol. The company's business model is to design, build, own and operate itsplants. The leadership team melds experience from Silicon Valley's fast-paced,high-tech world, and the technologically intense coal, coal gasification, andgas-to-liquids industries. Range Fuels' vision is to introduce the world to afuel that's renewable, sustainable, and eco-friendly in its production.www.rangefuels.com This information is provided by RNS The company news service from the London Stock Exchange