NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, February 17, 2012

New Jersey— February 15, 2012 – Bloomfield, N.J. – E+Co, the non-profit leader in clean energy investing in small and medium enterprises in emerging markets, announced today that it will phase out its innovations unit to solely focus on and scale up clean energy investments in developing markets. E+Co invests seed and growth capital to create and expand sustainable renewable energy businesses in Africa, Asia and Latin America. Its investments range in size from approximately US$25,000 to US$1,000,000.

“E+Co has been a clean energy pioneer for more than 15 years”, said Guy Kern-Martin, E+Co Board Chair. “We look back with pride at helping thousands of people gain access to clean, affordable energy. As we look to the future, our singular focus must be on sound investments with promising entrepreneurs in emerging markets.”

In an effort to capitalize on new investment opportunities and further grow its investment operations, E+Co has appointed a new management team to lead its experienced staff. These appointments include Christopher Aidun, Managing Director; Lucy Berkowitz, Finance Director and Dirk Muench, Investment Director. Mr. Aidun, Ms. Berkowitz, and Mr. Muench have more than 60-years of combined experience across the financial markets with particular expertise in investing and restructuring.

E+Co’s new investment management team undertook a review of the organization’s portfolio and financial condition at the direction of the Board of Directors. Following that review, E+Co has begun a restructuring of E+Co’s portfolio and operations with the support of its principal lenders and other constituents. E+Co’s lenders have provided E+Co with continued financial support during the anticipated 60 day planning and repositioning period.