Cleantech -- U.K./Europe

Contact: Chris Coulter, Ed Lukins

Cleantech is a dynamic, evolving, and expanding sector. The European Cleantech sector attracted €712 million in venture capital in 2007, almost doubling the €317 million invested in 2006. Companies in this area are focused on developing sustainable technologies and programs that offer returns for investors, provide worthwhile solutions to customers, reduce our dependence on fossil fuels, and result in a reduction in emissions of carbon dioxide (CO2) and other greenhouse gas.

Morrison & Foerster’s Cleantech practice in Europe advises a broad range of Cleantech companies at all stages of their lifecycle. We also advise investors and other intermediaries active in this area, including venture capitalists, investment banks, boutique advisory firms, private equity houses, and hedge funds.

Our Cleantech group is a cross-practice team, including members of our Corporate, Capital Markets, Finance, Tax, IP and Technology Transactions, and Venture Capital groups.

Our approach is a little different. Our strong industry focus means that we understand our clients’ businesses and work closely with them to achieve their objectives. Helping our clients accomplish their needs in ever-changing environments is challenging, but our deep knowledge of the sector gives us insight with which to counsel our clients on business strategy, rather than focus solely on legal issues. Our European lawyers are also able to draw on the firm’s experience of the global Cleantech market, and in particular our clients in this innovative industry sector benefit from the firm’s top-ranked international intellectual property practice.

Representative recent Cleantech deals in Europe include:

• Abengoa. Representing Abengoa, a Spanish-based solar innovator and world leader in energy systems, on licensing strategies.
• Blenheim Energy Limited. Acting for Blenheim Energy on a wind farm project in Tasmania in conjunction with the Tasmanian Regional Government.
• Bord naMóna. Representing Bord na Móna, a supplier of peat moss energy, in its private placement of debt in the U.S.
• ENECO Holdings NV. Representing ENECO Holdings NV in its private placement of debt in the U.S.
• Intelligent Diesel Systems Limited. Acting for Intelligent Diesel Systems on licensing and fundraising rounds for their patented LPG diesel engine injection system.
• KP Renewables PLC. Advising KP Renewables, a renewable energy company, on a reverse takeover of Island Gas Limited for £50 million, and readmission to AIM.
• Red Electrica de España. Representing Red Electrica de España (listed on the World Dow Jones Sustainability Development Index, DJSI) in its private placement of debt in the U.S.
• Weatherly International plc. Acting for Weatherly International on a joint venture with Applied Intellectual Capital plc to reprocess tailing dams in Namibia – AIC’s technology allows the economic extraction of previously unrecoverable precious metals from mining waste.
• Confidential Client. Advising in connection with the acquisition of a geothermal energy company and related leveraged financing.
• Confidential Client. Advising a European Cleantech trade association on contractual matters.