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Sterling Planet Acquires Strategic Investment from Low Carbon Accelerator, Ltd.

Posted on 2/21/2007 by in renewable energy energy efficiency White Tags

Sterling Planet Set to Expand Business in U.S. and Abroad

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
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