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Low Carbon Investors Attract Investment to Expand Management Team

New Shareholders will allow fund to seek new opportunities

Low Carbon Investors Ltd (“LCI”), the investment management company for Low Carbon Accelerator Ltd, the AIM-quoted closed-ended investment fund specialising in low carbon products and services, has announced it has strengthened its team with investment from Devonshire Funds, the fund management unit of Devonshire Capital, a private corporate finance and asset management group headquartered in Singapore.

Under the terms of the agreement, Andrew Affleck, co-founder and Managing Partner of Devonshire Capital, has joined Low Carbon Investors as an executive director. Mr Affleck has also taken on the role of Chairman of the Board, replacing Richard Wyatt.

Andrew Affleck, Managing Partner of Devonshire Capital and Chairman of Low Carbon Investors, said: “As a consequence of the current challenges facing the global financial services sector, opportunities have arisen for quality operators so this is a good time to be a low carbon investor. The team here have already developed a strong portfolio of companies with a clear plan for value creation. I look forward to helping them strengthen and execute this, in particular drawing on my experience in Asia.”

Mr. Affleck has lived and worked in the Far East for the last 20 years. In 1995, he co-founded Devonshire Capital as Managing Partner and has since been responsible for the profitable investment strategies of Devonshire Funds and Devonshire Capital Management.

On the private equity side, he has been involved in a number of landmark transactions and directly involved in structuring and managing investments which at their peak were valued in excess of US $1billion.

“Several factors have converged to improve the outlook for the renewable energy and clean-tech markets – the adoption of Government policy promoting these sectors, the environmental challenges posed by the continued use of fossil fuels, the creation of the carbon markets and the impact of rising fuel and energy prices. This is a good area to find opportunities for the experienced investor and we are well positioned to take full advantage of this,” said Mr Affleck.

Mark Shorrock, CEO of Low Carbon Investors Ltd, said: “I am pleased to welcome Andrew to the company. His appointment, along with the additional skills and experience we can draw on, will allow us to capitalise on a range of opportunities within our portfolio and beyond.”

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 £44.5 million.

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 will initially invest principally in companies based in the UK, Scandinavia, Germany and California 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.

For more information about Devonshire Capital please visit:

http://www.devonshirecapital.com/index.html

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