Cleantech Venture Network honored as one of the "Michigan 50 companies to watch"

Ann Arbor, Michigan April 20, 2006 – The Cleantech Venture Network, LLC has been recognized as one of the “Michigan 50 Companies to Watch,” an annual awards program sponsored by the Edward Lowe Foundation of Cassopolis, Michigan. The company received the honor at an awards ceremony during the second annual Michigan Celebrates Small Business event on April 19, 2006 in East Lansing, MI.

"Michigan 50 Companies to Watch is a unique awards program designed to shine the spotlight on second-stage companies,” says Edward Lowe Foundation Executive Director Mark Lange. The Edward Lowe Foundation is a not-for-profit operating foundation based in Michigan. Its mission is to “champion the entrepreneurial spirit” by helping second-stage entrepreneurs learn from each other.

Based in Ann Arbor Michigan, the Cleantech Venture Network LLC, a subsidiary of Cleantech Capital Group, produces the world’s premier cleantech events attracting investors, senior policy makers, corporate executives, media and entrepreneurs to drive worldwide investment in clean technology. The cleantech investment category includes services, products and technologies that use energy, water and other raw materials more efficiently and productively, while delivering equal or superior performance compared to incumbent technologies.

Companies selected for the “Michigan 50 Companies to Watch” list must be second-stage companies, defined as employing 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital in place from investors or grants. In addition, the companies must be privately held and headquartered in Michigan.

“This has been a tremendous year for our organization as the cleantech category has established itself here in Michigan, throughout North America and around the world as a real, sustainable investment category for venture capitalists and entrepreneurs,” said Craig Cuddeback, senior vice president, Cleantech Venture Network LLC. “I accept this honor on behalf of all our partners, investors and employees and look forward to continuing our exciting expansion here in the state of Michigan and beyond.”

Winners were selected by representatives of the Michigan Small Business & Technology Development Center, the Small Business Association of Michigan, the Michigan Economic Development Corporation, the U.S. Small Business Administration Michigan, the Michigan Certified Development Corporation and the Edward Lowe Foundation, based in part on the winners demonstrated intent and capacity to grow based on one or more of the following:

·Employee or sales growth

·Exceptional entrepreneurial leadership

·Sustainable competitive advantage

·Other notable factors that showcase the company's success

About Cleantech Venture Network, LLC
The Cleantech Venture Network™ LLC is a membership organization that brings investors together with cleantech entrepreneurs seeking capital through the Cleantech Venture Forum™ series of events. Cleantech Venture Network™ also provides the industry with research reports, advisory services, and various online services. The organization’s mission is to accelerate the next and necessary wave of venture innovation and investment worldwide through their network of over 900 affiliate investors.

The organization has tracked more than $8.3 billion invested in cleantech ventures since 1999. Of the $5 billion of venture investment in the cleantech category since 2002, over $400 million has been raised by companies presenting at Cleantech Venture Forums. Cleantech Venture Network has offices in Canada, Europe and the US. Further information can be found at www.cleantech.com or by calling (+1) 8102244310.

About Michigan Celebrates Small Business
Michigan Celebrates Small Business was underwritten by the Accident Fund, Clark Hill PLC, Microsoft and National City Corporation. Media partners wereCrain’s Detroit Business, the Greater Lansing Business Monthly, MiBizWest/Southwest, ITECHNEWS.com,Traverse City Business News, WJR Radio, Detroit and Business Today WILXTV10 Lansing-Jackson. Information about the 2007 “Michigan 50 Companies to Watch” program can be found at http://edwardlowe.org/Michigan50or by calling (800) 3625461.