Cornell Capital Commits USD 150 million to cleantech and renewable energy

Cornell Capital Partners (Cornell) plans to invest USD 150 million in cleantech and renewable energy companies worldwide over the next twelve months.

The company provides funding to cleantech and renewable energy sector companies to assist with R&D, to commercialise new technologies, and to grow organically or by acquisition, and, according to portfolio manager Mark Angelo, is willing to commit funds to help businesses in the sector become more mature and price competitive.

In the last seven months, Cornell has committed over USD 30 million in the following cleantech and renewable energy companies:  XsunX, Inc. (OTCBB: XSNX): USD 7,850,000 in financing; McKenzie Bay International Ltd. (OTCBB: MKBY): USD 5,000,000 in financing; GreenShift Corporation (OTCBB: GSHF): USD 6,000,000 in financing; Barnabus Energy, Inc. (OTCBB:BBSE): USD 15,000,000 in financing; and NewGen Technologies, Inc. (OTCBB:NWGN): USD 5,000,000. Cornell plans to invest an additional USD 135M in 2006.

Cornell is a sponsor at the Power-Gen Renewable Energy & Fuels Conference being held in Las Vegas, April 10-12.  

'With the announcement to invest USD 150 million over the next 12 months, it is an indication of Cornell's commitment to the sector,' says David Ratzker, Cornell's Vice President of Corporate Finance. 'The Power-Gen conference is a great opportunity to meet with companies, which have the ambition we are looking for to make this sector a lasting success

Background notes: Founded in 2001, Cornell is a private investment firm that specialises in structured finance and, according to Knobias Pipe Trac, was one of the most active investors in the US in terms of the number of structured equity financings in 2005. Knobias also reported that Cornell has structured over USD 1 billion in committed equity capital in over 100 transactions within the last 12 months. Cornell works closely with management to design custom-tailored, alternative financing structures that meet each individual company's capital needs and corporate goals.

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