|
Corporate Social Responsibility
News
2.21.2007 - 10:45am ET
|
CSR News from:
|
|
|
News Categories: |
| | |
Sterling Planet Acquires Strategic Investment from Low Carbon Accelerator, Ltd.
(CSRwire) ATLANTA, GA - February 21, 2007 – Sterling Planet today announced an
investment in the company by United Kingdom-based Low Carbon Accelerator
Ltd. ("LCA"). LCA, listed on the Alternative Investment Market (AIM) of
the London Stock Exchange, is a closed-ended investment company created to
invest in a portfolio of fast-growing low carbon businesses.
Mel Jones, President and CEO of Sterling Planet, said, “We are pleased
to partner with LCA to expand not only our retail operations but also to
capitalize on our client base, who own many facilities throughout the
United States and worldwide. We are also excited about opportunities to
further our growth through the expansion of our renewable project
development business.”
Sterling Planet is the nation’s leading retail provider of solar, wind
and other types of clean, renewable energy through direct sales and
electric utility partnerships. In addition to sourcing and selling
renewable energy through renewable energy certificates, know as RECs or
green tags, Sterling Planet has pioneered the monetization of energy
efficiency and energy conservation in the United States through a similar
system known as White Tag™ certificates.
The investment from LCA will enable Sterling Planet to expand its existing
retail business, both in the United States and abroad, as well as establish
itself as a renewable energy project developer. Sterling Planet intends to
arrange, finance and manage asset-based renewable energy projects as well
as energy conservation projects such as co-generation and systems
upgrades.
Dr. Stephen Mahon, Chief Investment Officer at Low Carbon Initiative,
LCA’s investment manager, said, “This is our first investment in the
United States and one we believe will make a major impact. Sterling Planet
is already a leading renewable energy provider with a strong project
portfolio and client base. Recent pressure from U.S. businesses and
utilities for a national emissions trading scheme built upon programs that
exist at the State and regional level puts Sterling Planet in prime
position for rapid, sustainable growth.”
Sonny Murphy, Sterling Planet’s Chairman of the Board, added, “We are
privileged to announce the addition of Dr. Stephen Mahon to our Board of
Directors. During our discussions and negotiations, Dr. Mahon and LCA’s
Chief Executive Officer, Mark Shorrock, have demonstrated the shared values
and strategic aspirations that we hold and on which great enterprises are
built.”
About Low Carbon Accelerator Ltd.
Low Carbon Accelerator is a closed-ended investment company created to
invest in a portfolio of fast-growing low carbon businesses. LCA’s
investment strategy is to target trading businesses with patentable
technologies and products with a clear commercial application and the
opportunity to gain a large market share of a new or expanding market.
LCA focuses on businesses with experienced management teams who have
developed commercially viable products providing easily adoptable
solutions which deliver immediate reductions in GHG emissions. www.lowcarbonaccelerator.com
About Sterling Planet, Inc.
Sterling Planet is the nation’s leading retail provider of solar, wind
and other clean, renewable energy through direct sales and electric
utility partnerships. Sales to date have created environmental benefits
comparable taking 991,200 cars off U.S. roads for a year. Founded in
2000, Sterling Planet was the first company to offer renewable energy
certificates (RECs) to every U.S. home and business as a way to support
sustainable energy production that benefits the environment, the economy
and society in general. In 2006, Sterling Planet pioneered the U.S.
market for White Tag™ Energy Efficiency Certificates. Today, Sterling
Planet has 461 large commercial and industrial clients nationwide,
including 41 utility partners in Connecticut, Florida, Massachusetts, New
Jersey, New York and elsewhere. www.sterlingplanet.com
|
|