SGM.L Regulatory News (SGM)

11 Dec 2007 07:01

Sigma Capital Group PLC11 December 2007 SGM.L SIGMA CAPITAL GROUP PLC ("Sigma") Announces Investment by its Sustainable Energies Fund Sigma, the specialist asset manager, is pleased to announce that the SigmaSustainable Energies Fund ("SSEF"), which invests in companies developingtechnologies in the area of clean energy and energy efficiency, has led a totalinvestment of approximately £0.7m into St Andrews Fuel Cells Limited, a spin-outcompany from St Andrews University which is developing innovative fuel celltechnology. Acting as lead investor, the SSEF has invested £250,000 in St Andrews Fuel CellsLimited, with the balance of the funds coming from existing investors NESTAInvestments and Imprimatur Capital, and new investors, the Low Carbon Seed Fundand Scottish Enterprise Scottish Seed Fund. In addition to the money raised atthis round, St Andrews Fuel Cells Limited has secured significant grant funding. St Andrews Fuel Cells Limited was spun out from the University of St Andrews in2005 having been created to exploit an innovative new solid oxide fuel celldesign, called 'SOFCRoll'. The business is focused on making SOFCRoll acommercially viable technology for low kilowatt, portable fuel cell applicationsand combined heat and power systems. Mark Hogarth, Investment Director of Sigma, said, "We are delighted to be investing in St Andrews Fuel Cells Limited alongsideNESTA Investments, Imprimatur Capital, the Low Carbon Seed Fund and the ScottishEnterprise Scottish Seed Fund. The company has the opportunity to deliver a lowcost solution for low kilowatt portable fuel cell applications and combined heatand power systems. Clean energy and energy efficiency are a key focus for Sigma and the SSEF wasSigma's first fund specifically dedicated to investment in these areas. In June2007 we launched a second larger fund, the Sigma Sustainable Energy Fund II,which has had a first and second closing raising £45m of funds so far frominvestors including Scottish and Southern Energy plc, Bank of ScotlandCorporate, Sir Tom Hunter's West Coast Capital, Elsina Limited (a vehicleadvised by Vincent Tchenguiz's Consensus Business Group) and Sigma TechnologyInvestments Limited. This second fund recently completed its first investment ina marine energy company, called Aquamarine Power Limited, which is developingboth tidal and wave energy conversion technologies." Enquiries Sigma Capital Group plc Mark Hogarth, Investment Director T: 0131 220 9444 Graham Barnet, Chief Executive Biddicks Katie Tzouliadis/ Sophie Lane T: 020 7448 1000 Arbuthnot Securities Tom Griffiths/ Neil Kirton T: 020 7012 2000 Company website: www.sigmacapital.co.uk About Sigma Sustainable Energies Fund The Sigma Sustainable Energies Fund is a £6m fund that was established inJanuary 2006 to invest up to £500,000 in Scottish companies developingtechnologies in the field of clean energy and energy efficiency. Investors inthe fund are Scottish and Southern Energy plc, the European Regional DevelopmentFund, Scottish Enterprise Fife and Sigma. About Sigma Sustainable Energy Fund II The Sigma Sustainable Energy Fund II is a new venture capital fund establishedby Sigma Capital Group plc to invest in companies throughout the UK and Europethat are developing technologies relating to clean energy and energy efficiency. The SSEF II currently stands at £45m following two closings and remains open tonew investors until the 16th June 2008. Investors so far include Scottish andSouthern Energy plc, Bank of Scotland Corporate, Sir Tom Hunter's West CoastCapital and Elsina Limited (a vehicle advised by Vincent Tchenguiz's ConsensusBusiness Group). This information is provided by RNS The company news service from the London Stock Exchange