LCA shuts up shop to new investments

AIM-listed cleantech investor Low Carbon Accelerator (LCA) does not anticipate making any new investments until it has achieved at least one exit, according to a statement released today. The firm’s management team has decided, ‘given current market conditions, to focus resources on supporting existing portfolio companies’.


AIM-listed cleantech investor Low Carbon Accelerator (LCA) does not anticipate making any new investments until it has achieved at least one exit, according to a statement released today. The firm’s management team has decided, ‘given current market conditions, to focus resources on supporting existing portfolio companies’.

AIM-listed cleantech investor Low Carbon Accelerator (LCA) does not anticipate making any new investments until it has achieved at least one exit, according to a statement released today. The firm’s management team has decided, ‘given current market conditions, to focus resources on supporting existing portfolio companies’.

Nevertheless, LCA’s investment manager believes rising energy prices and a difficult financial climate will benefit the companies in its portfolio, which offer businesses and consumers ways to reduce their long-term costs.

The statement comes as LCA releases news of three follow-on investments. The firm invested £700,000 in wind turbine maker Proven Energy as a convertible loan, bringing its total investment in the company to more than £5 million.

California-based commercial lighting specialist Lumenergi was the recipient of $2.4 million (£1.3 million) from LCA, part of a funding round of $4.5 million in which the balance was invested by US venture capitalist Noventi.

Finally, Living Villages, a developer of energy-efficient housing developments, received a further £150,000 as an equity investment from LCA. The company has had to revise its business plan in response to a lacklustre UK housing market, and has negotiated options on land to help insulate it from future falls in land prices.

Following the investments, LCA has a stake of 25 per cent in Proven Energy, 24 per cent in Lumenergi, and 28.75 per cent in Living Villages.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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