May 2, 2008

Albuquerque, NM, USA: SkyFuel Secures Funding for Solar Thermal Power Technology

SkyFuel, Inc. has close $17 million of Series B equity financing from investors led by Leaf Clean Energy Company [LSE: LEAF.L], a publicly traded $400 million clean energy company advised by Energy & Climate Advisors, a joint venture between Shaw Capital, Inc. and EEA Group. SkyFuel is developing next-generation utility-scale concentrating solar thermal power (CSP) systems and is revolutionizing the industry with advanced materials and components.

SkyFuel will use the funding to commercially deploy its breakthrough SkyTrough™, a high performance, low cost parabolic trough solar collector. The SkyTroughTM incorporates the proprietary, patented ReflecTech™ mirror film, which is unbreakable, highly reflective and has the potential to render traditional glass-mirrors obsolete. The funding will also allow SkyFuel to pursue global solar markets and advance the research and development of the Linear Power Tower™, a high-temperature linear Fresnel system.

“The SkyTrough™ leaps ahead of current technology and will accelerate the widespread commercial deployment of concentrating solar thermal power,” said SkyFuel founder and CEO, Dr. Arnold Leitner. “The SkyTrough™ significantly advances parabolic trough design using advanced materials to greatly reduce cost while continuing to deliver the proven performance and simplicity of the only currently commercially viable solar thermal power technology.”

The SkyTrough™ is designed by SkyFuel’s CTO, Randy Gee, who previously designed the parabolic trough concentrator for the 64-mega-Watt Nevada Solar One solar power plant, which came on line in 2007.

“The SkyTrough™ is the result of decades of experience using today’s cutting edge technology. It clearly will define what is possible,” said Mr. Gee, “Unbreakable, lightweight ReflecTech™ mirrors are only one of the many fundamental improvements embodied in the SkyTrough™.”

“This is a great opportunity for Leaf to partner with a leading solar CSP technology provider. We are excited by the prospect of helping SkyFuel deliver superior production solutions to the solar thermal industry,” said Leaf Chairman Peter Tom.

"This investment in SkyFuel secures Leaf a position in a solidly differentiated suite of technology based on products in the value chain of the solar CSP market as well in a superior management team that has developed a strategy, products, and configuration that make concentrated solar plants competitive with fossil fuel power. We are excited about the promise of the emerging solar energy market and SkyFuel’s success in it," said Dan Shapiro, President of Shaw Capital and Energy & Climate Advisors.

SkyFuel is working with several large well-established independent power producers on utilityscale solar thermal power plants in the U.S. and abroad based on the SkyTrough™ parabolic trough architecture.

Further details: SkyFuel