Media Coverage

Clean Energy Firm Raises $80M

Red Herring

October 5, 2005

US Renewables Group hopes to raise an additional $170 million.

In a sign of growing investor appetite for renewable energy as fossil fuel prices climb, clean-energy company US Renewables Group said Wednesday it closed an $80 million round of funding.

Investors include Rustic Canyon Partners and angels. The round is the first phase in the group's plan to raise $250 million.

"Renewable and efficient energy is a growing and increasingly attractive investment opportunity, and USRG's innovative approach of focusing on the operation of renewable energy assets creates an ideal fit for us," said Tom Unterman, managing partner at Rustic Canyon Partners.

The Santa Monica, California-based company buys and operates renewable-energy assets, including companies and facilities. Founded in 2003, the group owns two landfill methane facilities in California, is building another facility in Texas, and is in negotiations to buy biomass and ethanol-production capacity.

http://www.redherring.com/Article.aspx?a=13880&hed=Clean+Energy+Firm+Raises+%2480M

Media Contacts:

Steven Gottlieb
ZENO Group
Tel: (877) 526-0450
steven.gottlieb@zenogroup.com