Leaf Clean Energy Company, an AIM-listed venture established to invest in clean energy companies and projects in North America, has made a $12.2 million investment in Telogia.
Leaf Clean Energy Company, an AIM-listed venture established to invest in clean energy companies and projects in North America, has made a $12.2 million (£8.6 million) investment in Telogia.
Telogia uses renewable fuel from the local forest industry as well as wood waste that would otherwise be put into landfills to generate renewable power. The green energy will be sold to a Florida co-operative under a long-term power purchase agreement made in December 2008.
Telogia is Leaf’s second investment in the biomass-to-energy industry with Multitrade Biomass Holdings, LLC as its partner. The new entity will trade as Multitrade Telogia, LLC and will give Leaf more than 30MWs of biomass power generation in its portfolio.
Peter Tom, Leaf Chairman, says, “We are excited to further our relationship with Multitrade, given their extensive experience in developing successful biomass power projects.”
In February, Leaf completed a convertible note financing in Chicago-based Invenergy Wind. The $30 million funding will enable the wind energy business to expand and increase its market share.