Company Name
GreatPoint Energy

Company Web Site
http://www.greatpointenergy.com/

Headquarters
Cambridge, MA

Latest News
Sept. 24, 2007 - GreatPoint Energy, Inc., the leading developer of catalytic gasification technology to convert coal, petroleum coke and biomass into clean natural gas while enabling the capture and sequestration of CO2, today announced the financial closing of a $100 million strategic equity round. The round was co-led by Sustainable Development Investments (SDI), a unit of Citi Alternative Investments (a division of Citi) and The Dow Chemical Company, and included the AES Corporation, Suncor Energy, Inc. and other financial firms. According to New Energy Finance, a leading provider of research to investors in clean energy, Greatpoint Energy's capital raise represents the largest Series C financing to date, and one of the largest overall clean tech venture deals ever completed.

GreatPoint Energy will use the funds to construct and operate a large-scale demonstration facility and soon thereafter will build, own and operate commercial natural gas manufacturing plants.

Funding
At least $130 million, including $100 million from Sustainable Development Investments (SDI), a unit of Citi Alternative Investments (a division of Citi) and The Dow Chemical Company, AES Corporation, Suncor Energy, Inc. and other financial firms. An earlier $30 million in Series B funding was led by Kleiner Perkins Caufield & Byers (KPCB) and Khosla Ventures, with participation from Series A investors Advanced Technology Ventures (ATV) and Draper Fisher Jurvetson (DFJ).

Technology
GreatPoint Energy is commercializing a proprietary catalytic biomass gasification process that converts low-cost, abundant biomass into high-value, clean, pipeline quality, renewable natural gas (methane). GreatPoint Energy's biomass-derived natural gas product, called renewa-blue(tm), is 99.5 percent methane, meets all natural gas purity requirements, can be transported by pipeline and is 100 percent renewable. In addition, biomass derived natural gas is cleaner than biomass combustion and the carbon emissions can be captured for sequestration.

GreatPoint Energy's natural gas, which can used to generate electricity, will qualify in states such as Massachusetts (as well as many other states) for Renewable Energy Certificates (RECs) under state Renewable Portfolio Standards (RPS). Prices for RECs currently trade in the $50/MWh range and on this basis would add approximately $7/MMBtu to the delivered gas sales price, typically in the $7-12/MMBtu range in the New England market. Additional benefits from Federal biomass tax credits can also be realized for these projects making biomass-to-gas not only a highly profitable endeavor, but a cleaner, lower cost source of renewable electric power generation.