28 Sep 2009 08:00
Leaf Clean Energy Company
The Board of Leaf Clean Energy Company ("Leaf Clean Energy" or "the Company") has received notification of the following developments in the asset advisory arrangements of Leaf Clean Energy. EEA, the Company's asset adviser has served termination on Energy & Climate Advisers, the joint venture between EEA and Shaw Capital Inc. responsible for performing the asset adviser's obligations under the Asset Advisory Agreement. The Board has obtained reassurance from EEA that it will continue to perform the services contemplated by the Asset Advisory Agreement. The Company will deploy an experienced transitional team to ensure continuity of operations. The transitional team will be led by Vandana Gupta and include a team of professionals from PurEnergy LLC, a specialist energy management company.Vandana Gupta Vandana Gupta has more than 15 years experience in investment banking and global energy. Most recently she served as Managing Director and Head of Alternative Energy for JP Morgan in New York. Prior to JP Morgan, Vandana was Managing Director, Equity Portfolio for GE Energy Financial Services where she managed $1bn investments and guided the execution of more than 20 asset sales. Vandana has provided consulting advice to the Leaf Clean Energy Board and has familiarity with its current portfolio.PurEnergy LLC www.purenergyllc.com
PurEnergy LLC is a specialist Energy management company founded in 1995 and based in Syracuse, NY. PurEnergy performs asset management and operations and maintenance services for projects, developing and implementing comprehensive strategies to maximize project income consistent with safe, reliable, and environmentally compliant operations. PurEnergy has substantial experience in managing a broad range of projects across the U.S. The Board will review the position with EEA in the near future. A further announcement will be made in due course. Enquiries: Cenkos Securities plc Nicholas Wells/Ivonne Cantu 0207 397 8900