Citigroup and Black River back Sindicatum in the Climate Change Space

LONDON--(BUSINESS WIRE)--Sindicatum Carbon Capital Limited (“SCC”), a leading turnkey developer of Greenhouse Gas (“GHG”) abatement projects globally, has closed an equity private placement with Citigroup Venture Capital International (“CVCl”), a unit of Citigroup Alternative Investments, and Black River Asset Management, an independently managed subsidiary of Cargill. This equity private placement provides SCC with a strong capital base to enhance climate mitigation projects worldwide via the implementation of best of class technology wherever pollution can be abated.

SCC is a specialist climate mitigation company utilising capital and technology to convert GHG emissions into long-term sources of revenue in this rapidly emerging market. SCC will use its significant pool of new capital to accelerate the development of its GHG reduction projects, investment in new and emerging technologies, and acquisition of infrastructure assets in both emerging markets globally and in the United States.

"We are delighted to have concluded this equity placement with one of the world’s largest banks and a leading global asset management company. We are proud of how this reflects on our company and the recognition of “best of class” that it infers on us. We look forward to our partnership with CVCI and with Black River and we believe that their global commitment to climate mitigation as a long-term value investors should help us create significant value for our local partners, our employees and our shareholders" said Assaad Razzouk, Sindicatum Carbon Capital’s CEO.

“SCC’s commitment to our planet is total and unequivocal”, said Lord Stone of Blackheath, SCC’s Deputy Chairman. “The introduction of Citigroup and Black River into our shareholding will significantly strengthen our operational capabilities to deliver solutions to businesses worldwide that aim to enhance our collective quality of life while striving to deliver zero-emission industrial processes.”

“Our investment in Sindicatum Carbon Capital underscores Citigroup’s continued commitment to the environment and concern about climate change. We believe SCC is best of class and brings a new discipline and focus to GHG emissions reduction projects around the world” said R. Andrew de Pass, a Managing Director at CVCI.

About SCC

SCC is a UK company founded by Sindicatum Limited and SCC’s senior management team as an early entrant in what has become a major new global market: that of environmental and greenhouse gas emission reductions. SCC is an at-source developer and technology provider for greenhouse gas abatement projects across its platform spanning China through SE Asia, central Asia, the Middle East and Central America. Areas of specialization include abating GHG emissions from the chemicals, oil & gas, waste management and natural resource sectors.

The development of renewable energy has particular emphasis when abating methane emissions from coal mines and from landfills. The Company’s strategy is to provide its Shareholders with strong capital growth combined with a manageable risk profile through direct investment as an “end-to-end” developer in projects that reduce GHG’s and as such, result in the “manufacture” of environmental commodities and in the generation of clean power.

The Company is using its experienced management team to select the best investment opportunities and to deploy advanced and best-of-breed technologies to differentiate itself and to become the preferred partner and source of capital to qualifying asset owners in the emerging markets of China and S.E. Asia.

SCC’s shareholder base includes UK institutional investor Foresight Venture Partners.

About CVCI

Founded in 2001, Citigroup Venture Capital International (CVCI) is a leading private equity investor in growth markets globally with offices in New York, Miami, London, Hong Kong, India and Chile. Key industry focus areas include IT Services and Business Process Outsourcing, Retailing, Pharmaceuticals, Telecom, Alternate Energy and Financial Services. CVCI is a private equity unit within Citigroup Alternative Investments which makes investments primarily in the developing markets in Asia, Eastern Europe and Latin America. CVCI is also responsible for Citigroup’s Sustainable Development Investment Program (“SDIP”). SDIP makes private equity investments in both the developed and developing world in renewable energy, sustainable forestry, water resource management, waste management, clean technologies, energy efficiency and the GHG emission reduction markets. Citigroup Alternative Investments offers products across four asset classes: private equity, hedge funds, real estate and structured products to institutional and qualified individual investors around the world. As of December 31st, 2006, Citigroup Alternative Investments had $49.2 billion of un-levered assets under management.

Sindicatum Carbon Capital Ltd. is Registered in England no. 5406371