Cornell Capital Commits $150 Million to Renewable Energy

 

April 13, 2006

Cornell provides funding to cleantech and renewable energy sector companies to assist with R&D, to commercialize new technologies, and to grow organically or by acquisition. Cornell 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 more than $30 million in financing XsunX ($7,850,000), McKenzie Bay International Ltd. ($5,000,000), GreenShift ($6,000,000), Barnabus Energy ($15,000,000), and NewGen Technologies ($5,000,000).

Cornell, a sponsor at the Power-Gen Renewable Energy & Fuels Conference held in Las Vegas, April 10-12, plans to invest an additional $135 million in 2006.

"With the announcement to invest $150 million over the next 12 months, it is an indication of Cornell's commitment to the sector," said 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."

Founded in 2001, Cornell works closely with management to design custom-tailored, alternative financing structures that meet each individual company's capital needs and corporate goals.