Low Carbon winds back

  • Story by: Jim Robinson
  • Magazine: InvestmentAdviser
  • Published Monday , October 06, 2008

Low Carbon Accelerator, a closed-end investment company that invests in low-carbon companies, said it was focusing its resources on supporting existing portfolio companies due to current market conditions.

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Consequently, the company said it expected to make no new investments until it had achieved one or more portfolio realisations.

Meanwhile, LCA said it has made follow-on investments in a number of portfolio companies, including Proven Energy, Lumenergi and Living Villages.

LCA has invested a further £700,000 in Proven Energy - a maker of wind turbines - as part of an £800,000 convertible loan to support continued expansion and growth. LCA has previously invested a total of £5.15m in the company, in which it now holds a 25 per cent equity stake.

A further investment of $2.4m (£1.3m) has been made in Lumenergi as part of a wider $4.5m funding round including US venture-capital company Noventi. This takes LCA’s stake in the company, which develops energy-efficient lighting systems, to 24 per cent.

Lastly, LCA has agreed to invest an additional £150,000 in Living Villages - a designer of energy-efficient, environmentally sound housing developments - bringing its equity stake to 28.75 per cent.

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