SGM.L Regulatory News (SGM)

17 Nov 2006 07:00

Sigma Capital Group PLC17 November 2006 FOR IMMEDIATE RELEASE 17 November 2006 SIGMA CAPITAL GROUP PLC ("Sigma" or the "Company") Investment Update Sigma Capital Group PLC (AIM: SGM), the specialist asset management and advisorygroup, today provides an investment update. Highlights • Two investments completed totalling over £1m and led by Sigma • Second investment from the newly launched Sigma Sustainable Energies Fund o £400,000 in XiPower Limited, a developer of patented battery, power management and monitoring technologies for use in products and systems that use rechargeable batteries • Completion of investments of: o £690,000 in AviIT Limited, a software solutions business to the aviation industry Xipower Limited ("Xipower") The Sigma Sustainables Energies Fund ("SSEF"), a fund managed by SigmaTechnology Management Limited, has led a total investment round of £400,000 inXipower Limited. SSEF invested £300,000 as lead investor, with ScottishEnterprise ("SE") investing £100,000 from the newly launched SE Seed Fund. Thisis the second investment from the SSEF and the first investment from the SE SeedFund. Xipower has developed patented battery, power management and monitoringtechnologies for use in products and systems that use rechargeable batteries,super-capacitors and fuel cells. The technology is targeted at the entirespectrum of portable, semi-portable and transportable devices including hybridvehicles, telecommunications equipment, consumer electronics, renewables,oilfield, medical and defence equipment. End-users benefit from increased timebetween recharges, maximum energy availabilty and improved battery life. Thisround of funding will be used to support the development of the company'scommercial activities and the further expansion of the engineering team. Gary MacDonald, CEO of Xipower, commented "We were particularly pleased tosecure investment from the Sigma Sustainable Energy Fund due to its strongindustry backing from Scottish and Southern Energy." AviIT Limited ("AviIT") The Sigma Innovation Fund ("SIF"), a fund managed by Sigma Technology ManagementLtd, has invested £250,000 in AviIT Limited. As part of this round, a £240,000Regional Selective Assistance grant and a £200,000 debt facility were alsosecured. AviIT, which was founded in 2004, designs and develops a range of innovativesoftware solutions for the aviation industry. The products are based around twomain aviation sector business functions, aircraft engineering and airlineoperations. AviIT's customers include Virgin Atlantic Airways, bmi and MonarchAircraft Engineering Ltd. This round of funding will be used to support furtherexpansion of the company's sales and marketing activities and the development ofnew products. ENDS ContactSigma Capital Group plcMark Hogarth, Investment Director 0131 220 9444 Buchanan CommunicationsDiane Stewart/Isabel Podda 0207 466 5000 About Sigma Capital Group plc Sigma Capital Group plc is an AIM listed UK asset management and advisory group, which focuses on Specialist Fund Management, Commercialisation of University IP and Property. Sigma was founded in 1997 by Graham Barnet and Neil Crabb, and has offices in Edinburgh and London. Earlier this year Sigma announced the establishment of a new ten-year fund for investment in sustainable energy technologies, with a first closing at £6 million. The Sigma Sustainable Energies Fund attracted limited partners from both public and private sectors. A key feature of the Fund is the participation of FTSE 100 utility company Scottish & Southern Energy plc ("SSE") as a trade investor. SSE has committed up to £2.4 million to the Fund, alongside the European Regional Development Fund (£2.4 million), Scottish Enterprise Fife (£500,000) Sigma Technology Investments Limited (£400,000) and a group of private investors (£300,000). www.sigmacapital.co.uk This information is provided by RNS The company news service from the London Stock Exchange