LCA Low Carbon Acc.

 

TIDMLCA 
 
RNS Number : 8977M 
Low Carbon Accelerator Limited 
02 June 2010 
 

2 June 2010 
Investment Update: LUMEnergi Inc. 
 
Low Carbon Accelerator Limited ("the Company" or "LCA") announces that it has 
made a further investment of US$240,000 (approx GBP166,000) in LUMEnergi Inc. 
("LUMEnergi"), as part of an overall funding round of US$450,000 (approx 
GBP310,000) with its existing co-investor, Noventi Ventures. 
 
This follow-on investment has been provided as an extension to the existing 
convertible loan note investments, which were announced on 11 August 2009, 14 
December 2009 and 7 April 2010, and takes LCA's total investment in LUMEnergi to 
US$5,973,333 of which US$4,000,000 represents an equity stake of 25.3% and 
US$1,973,333 represents the convertible loan. 
 
LUMEnergi remains in discussion with a number of third parties as part of its 
planned Series B funding round and this short-term funding is to provide 
LUMEnergi with the resources it needs to finalise its expansion capital 
requirements. 
 
LUMEnergi is a US based company that has developed a dimmable ballast and 
supporting lighting management system. These patented technologies will enable 
building managers to more efficiently control lighting levels in a property. The 
first trial sites of LUMEnergi's dimmable electronic ballasts delivered 
reductions in the energy consumed of over 50%. The US stimulus package in 
February 2009 targeted capital at energy efficiency measures and in September 
2009 LUMEnergi was a beneficiary by winning its first commercial order. 
LUMEnergi remains pre-profit at present as it enters the expansion phase of its 
lifecycle. 
 
 
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: 
·      Buildings (sustainable building materials, heating, lighting, clean air 
and water technologies for industrial, commercial and/or residential use) 
·      Fuels (bio-fuels, low carbon fuels, catalysts and additives) 
·      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: +44 (0)20 7631 | 
|                              | Andrew Affleck,  | 2631                | 
|                              | Chairman         |                     | 
+------------------------------+------------------+---------------------+ 
|                              |                  |                     | 
+------------------------------+------------------+---------------------+ 
| Grant Thornton Corporate     | Philip Secrett   | Tel: +44 (0) 20     | 
| Finance                      | Colin Aaronson   | 7383 5100           | 
+------------------------------+------------------+---------------------+ 
| Carbon International PR      | David Hopkins    | Tel: +44 (0) 20     | 
|                              |                  | 7483 3343           | 
+------------------------------+------------------+---------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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