LCA Low Carbon Acc.

 

TIDMLCA 
 
RNS Number : 1510S 
Low Carbon Accelerator Limited 
06 September 2010 
 

Low Carbon Accelerator ("LCA" or "the Company") 
Trading update 06.09.2010 
As highlighted in the Interim Report and Unaudited Financial Statements for the 
six months ended 31 May 2010, LCA has continued to execute its strategy of 
driving the growth and value realisation in its existing portfolio, which has 
continued to make good progress overall. Certain investee companies have 
delivered strong technical and commercial growth since the time of the original 
investment as the underlying drivers for the low carbon market have improved 
both domestically and internationally. In particular, Proven Energy Ltd has 
consolidated its position as Europe's leading distributed wind turbine company 
(i.e. supplying sub-100kW turbines) and has delivered very strong sales growth 
arising from the introduction of feed-in-tariffs in the UK in April 2010. 
The unaudited NAV of LCA as at 31 August 2010 is expected to be published 
towards the end of October 2010. As a result of the good progress within the 
portfolio, in particular that of Proven Energy Ltd, and in line with the 
International Private Equity and Venture Capital Valuation Guidelines, the 
Directors of LCA and the Investment Manager currently expect that the new NAV, 
to be published at that time, will represent a material uplift compared to the 
last published quarterly NAV. This uplift in NAV is currently expected to be in 
the range of 7p to 12p per share. The NAV as at 31 May 2010 was 51.8p per share. 
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 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: +44 (0)20 7631 | 
|                              | Andrew Affleck,  | 2630                | 
|                              | CEO              |                     | 
+------------------------------+------------------+---------------------+ 
|                              |                  |                     | 
+------------------------------+------------------+---------------------+ 
| Grant Thornton Corporate     | Philip Secrett   | Tel: +44 (0) 20     | 
| Finance                      | Colin Aaronson   | 7383 5100           | 
+------------------------------+------------------+---------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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