Investment Update: Lumenergi Inc. (4003W)

TIDMLCA

RNS Number : 4003W

Low Carbon Accelerator Limited

30 January 2012

30 January 2012

Investment Update: Lumenergi Inc.

Low Carbon Accelerator Limited ("LCA" or "the Company") announces that it has invested a further $200,000 (approx. GBP130,000) in Lumenergi Inc. ("Lumenergi") in the form of an unsecured convertible loan, alongside other existing investors as part of a total convertible loan of $1m, in order to provide the company with additional working capital to enable it to finalise its expansion capital requirements. It is expected that the loan will convert into equity at the time of the next funding round. This investment is in addition to the total LCA investment to date of US$5.97 million, representing an 18.4% shareholding in Lumenergi on a fully diluted basis.

Lumenergi is a US based company that has developed intelligent lighting technology that reduces lighting energy costs by 50 to 70 percent, while typically delivering ROI in one to three years. This unique technology incorporates advanced networked control system with smooth dimming to lead buildings into the Smart Grid world.

LUMEnergi has received the Building Operating Management 2012 Top Products award for its lighting management solutions.

About Lumenergi Inc.: www.lumenergi.com

About Low Carbon Accelerator: www.lowcarbon.gg

Low Carbon Accelerator Limited is a closed ended investment company created to invest in a portfolio of fast-growing low carbon businesses. The Company listed on the AIM Market of the London Stock Exchange on 11 October 2006, raising GBP44.5 million. On 26 June 2009, the Company announced that it had raised a further GBP10 million, net of expenses, following the successful placing of a further 41.6 million shares.

The Company's investment objective is to provide shareholders with an attractive return on their investment primarily through significant minority (predominately 25% and above) holdings in a diverse portfolio of unquoted private companies providing low carbon products and services.

The Company invests principally in companies which provide low carbon products and services across the following sectors:

-- Energy efficiency (reductions in energy inputs at source, improved conversion and reductions at point of use)

   --    Energy generation (sustainable and clean energy, micro and distributed generation) 

The Company'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. The Company focuses on businesses with experienced management teams who have developed commercially viable products providing easily adoptable solutions which deliver immediate reductions in carbon dioxide emissions.

Enquiries:

 
Low Carbon Investors Limited      Steve Mahon, CIO           Tel: [phone] 
                                   Andrew Affleck, Chairman   2630 
 
Grant Thornton Corporate Finance  Colin Aaronson             Tel: [phone] 
                                   Melanie Frean              5100 
RedleafPolhill                    Alicia Jennings            Tel: [phone] 
                                                              6741 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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