Greenwood Energy to provide Combined Heat and Power Plant for the Millennium Hilton Hotel, Manhattan

New York: March 29, 2012 – Greenwood Energy, the North American renewable energy division of the Libra Group, today announced its engagement to install the first combined heat and power plant for the Millennium Hilton Hotel in the heart of New York.  This transaction represents a unique development in hotels to reduce energy costs and increase energy efficiency. It is a further addition to Greenwood Energy’s rapidly developing clean power generation offering and will set a benchmark for hotels throughout North America.

“This expansion of Greenwood Energy’s operations in clean and efficient power generation for the hotel sector is blazing a trail for the industry in North America, where alternative power generation is beginning to make a real breakthrough,” said Greenwood Energy’s CFO, Douglas Johnsen.  “Adding the Millennium Hilton to our portfolio puts us in a strong position for the drive towards distributed generation for hotels, colleges, universities, hospitals, healthcare facilities and other institutions.  We look forward to partnering with the facilities and utilizing various microgrid technologies to make them more sustainable, environmentally friendly, and energy-secure through 2012 and beyond, while creating significant energy savings.”

The plant will convert natural gas into electrical and thermal energy for the Millennium Hilton Hotel on Church Street, Lower Manhattan.  The Millennium Hilton Hotel comprises 471 guest rooms and 98 suites, located in the city’s financial district and close to the Ground Zero site.  The plant will consist of two (2) 250 kilowatt cogeneration units (reciprocating engines) supplied by Stowell Distributed Power Corporation (“SDP”), based in Newport Beach, California.  SDP will also provide long-term services for the plant.

In October 2011, Greenwood Energy  announced its first power contract with the purchase of a 1.4 megawatt (MW) Direct FuelCell® power plant from FuelCell Energy, Inc. (NASDAQ: FCEL), a leading manufacturer of ultra-clean, efficient and reliable power plants, for Central Connecticut State University in in New Britain, Connecticut.

Former Deputy Secretary of State and UN Ambassador John Negroponte joins Greenwood Energy board as Senior Advisor

New York, NY – Oct. 17, 2011 – Effective October 1^st, the Hon. John Negroponte, former US Deputy Secretary of State and Ambassador to the United Nations, has joined Greenwood Energy as Senior Advisor and Board Member.  Mr. Negroponte will provide strategic advice and senior counsel to Greenwood’s management as it continues to build its platform of investment in both the renewable fuel and clean energy sectors.

“John Negroponte brings invaluable depth and experience at the highest level to the Greenwood Board. He will help us chart the evolution of the renewable energy regulatory framework in the United States, which will be of great benefit to Greenwood and our clients,” commented Camilo Patrignani, interim CEO of Greenwood Energy.

“Greenwood is a great company and I look forward to helping build out this business in the growing renewable energy sector,” stated Mr. Negroponte.  “Energy demands have never been higher and Greenwood’s cost-effective and proven alternative to traditional fossil fuels is a particularly exciting development in the renewable fuel movement.”

Originally founded to re-purpose industrial waste into burn-ready fuel pellets with lower emissions yet the same burn properties as coal, Greenwood Energy is now a growing provider in North America which incorporates a clean power division deploying the latest research in fuel cell technology and energy efficiency.

Mr. Negroponte also serves as an Advisor to the Board for the Libra Group, Greenwood’s parent company, which has additional renewable energy interests in EuroEnergy, the European operator of wind farms, solar parks and biomass plants.

Greenwood Energy expands into green power generation sector with new fuel cell facility for Central Connecticut State University

Green Bay, Wis. – Oct. 10, 2011 – Greenwood Energy has announced its first power contract with the purchase of a 1.4 megawatt (MW) Direct FuelCell® power plant from FuelCell Energy, Inc. (NASDAQ: FCEL), a leading manufacturer of ultra-clean, efficient and reliable power plants.

Energy from the new power plant, located on the campus of Central Connecticut State University in New Britain, Connecticut, will be sold by Greenwood Energy under a multi-year service agreement and will begin operations by December 2011. The fuel cell power plant will reduce power costs for the University, helping it lower greenhouse gas emissions and attain its sustainability goals.

“This expansion of Greenwood Energy’s operations into  the green power generation space builds on our current strengths in renewable fuel pellet technology and waste repurposing,” said Camilo Patrignani, Head of Americas at the Libra Group and interim CEO of Greenwood Energy.  “Adding this fuel cell project to Libra Group’s global portfolio of power generation assets will allow target markets, like universities, to become more sustainable, environmentally friendly and energy-secure in the future.”

The plant will generate ultra-clean electricity as well as steam for heating and cooling campus buildings. The fuel cell power process creates more power from a given unit of fuel compared to combustion-based power sources, and significantly reduces the university’s reliance on conventional combustion boilers. Moreover, the fuel cell plant emits virtually zero pollutants such as NOx, SOx or particulate matter.

This project represents the initial collaboration between Greenwood Energy and FuelCell Energy. The Connecticut Clean Energy Finance and Investment Authority provided a grant to the project, in conjunction with the Connecticut Clean Energy Fund On-Site Renewable Distributed Generation Program.

“We are pleased to be working with Greenwood Energy as it continues to grow its North American power business,” added Robert J. Keefrider, Jr., Director, Commercial and Corporate Development, FuelCell Energy, Inc.  “This transaction is an excellent example of maximizing energy efficiency for clients and enabling the timely and efficient funding of fuel cell power projects.”

Currently, Greenwood Energy is developing additional renewable fuel manufacturing facilities in the U.S., and is broadening its geographical reach for landfill diversion and investing in clean power generation assets for customers seeking a sustainable and environmentally-friendly alternative to fossil fuels.

About Central Connecticut State University
Central Connecticut State University (CCSU) is a regional, comprehensive public university.  Comprising five schools, CCSU offers undergraduate and graduate programs.  More than 85 percent of CCSU graduates remain in Connecticut, contributing to the intellectual, cultural, and economic health of the state.  Founded in 1849, CCSU is Connecticut’s oldest publicly supported institution of higher education.  The largest of four comprehensive universities within the Connecticut State University System, CCSU – New Britain serves nearly 12,500 students.

About FuelCell Energy
Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide.  The Company’s power plants have generated over 800 million kWh of power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas.  With over 180 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other clients around the world.  For more information please visit our website at www.fuelcellenergy.com.

Dennis Conn to help company develop its renewable fuel business throughout the US

New York, NY. – June 1, 2011- Greenwood Fuels announced today that Dennis Conn has joined the company as Senior V.P. of Business Development.  Mr. Conn’s primary responsibility is broadening and expanding Greenwood’s existing develops additional renewable fuel manufacturing facilities.

“Dennis is a 30-year veteran of the energy industry and will immediately add additional credibility to the technical and commercial expertise of our team,” explained Camilo Patrignani, interim CEO of Greenwood.  “He has extensive experience in both the traditional fossil fuel and alternative fuel spaces, making him the perfect fit for this position,” continued Mr. Patrignani.

Prior to joining Greenwood, Mr. Conn was most recently employed at Tennessee Valley Authority (TVA) as a commodity forecaster.  Prior to TVA, he worked in the clean coal and biomass space for Nviro Cleantech.   Mr. Conn began his career in the energy space at ARCO Coal, where he served in a variety of positions spanning 13 years.

He holds a B.S. from Colorado State University and an MBA from University of Colorado.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

Mr. Johnsen will also manage acquisitions of power generation assets

New York, NY. – January 3^rd, 2011- Greenwood Fuels announced today that Douglas Johnsen has joined the company as Chief Financial Officer.  In addition to traditional corporate finance responsibilities, he will be tasked with building Greenwood’s platform for acquiring clean power projects.

“Doug has over 15 years of experience in energy and project financing, bringing a wealth of industry specific knowledge to Greenwood,” stated Camilo Patrignani, interim CEO of Greenwood.  “Doug has the experience and more importantly, track record, to both lead our team as CFO and build and acquire a pipeline of clean power generation assets,” continued Mr. Patrignani.

Prior to joining Greenwood, Mr. Johnsen was most recently a Director at First Wind where he completed approximately $450 million in debt and tax equity transactions.  Prior to First Wind, Doug held various positions at Deutsche Asset Management (REEF Infrastructure), GE Energy Financial Services and Deutsche Bank Securities.

He obtained a B.S. in Engineering from University of Michigan- Ann Arbor and an MBA from Vanderbilt University.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

Users of company’s fuel now able to generate renewable energy credits in Ohio

Columbus, OH- December 15, 2010- The Public Utilities Commission of Ohio (PUCO) ruled that Greenwood Fuels’ customers in Ohio can be certified as eligible renewable energy resource generating facilities.

As such, these facilities will be able to generate renewable energy credits (REC) proportionate to their usage of Greenwood Fuels pellets.  These credits, particularly valuable as they are created in-state, can be used towards compliance with Ohio’s renewable portfolio (RPS) standard of 25% by 2025.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

Company wins award provided to best of small businesses within northeast Wisconsin

Green Bay, Wis. – Nov. 4, 2010- Greenwood Fuels received the 2010 Manufacturing Award of Distinction during a ceremony held by the Green Bay Area Chamber of Commerce.  Now a decade-old tradition, this event honors companies who have achieved continued excellence in manufacturing and supporting local economic development.

Ted Hansen, General Manager of Greenwood, accepted the award on the company’s behalf.  “We are honored to receive this award.  We work hard to create a product that provides a viable and cleaner alternative to coal while creating and sustaining quality manufacturing jobs here in Green Bay,” Hansen conveyed to the audience.

The program is open to manufacturers headquartered or with significant operations in counties in northeast Wisconsin.  Award categories are based on company size, length of time in business, use of high technology and exporting.  Greenwood won the “Small Company” category.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

One of five companies in northeast Wisconsin awarded $7 million of State loans

Green Bay, Wis. – Oct. 19, 2010- Greenwood Fuels has received a $1.25 million low-interest loan through the Wisconsin State Energy Program.  The loans, awarded by the Wisconsin Department of Commerce, were funded through the American Recovery and Reinvestment Act.

Greenwood Fuels invested more than $5 million in equity capital to refurbish its existing manufacturing facility and purchase and install new equipment to triple its production capacity.  The project will create six additional local manufacturing jobs. In total, approximately $40 million of capital has been invested in Greenwood’s first plant since inception in 2009.

The $7 million in State loans will support a total investment of nearly $35 million total in renewable energy projects. The awards were announced by Commerce Secretary Aaron Olver.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

Global conglomerate, the Libra Group, adds to its renewable energy portfolio with acquisition of Greenwood Fuels

New York, NY- July 30, 2010- The Libra Group has announced the acquisition of Greenwood Fuels, an innovative producer of renewable fuel products that help its customers meet increasingly stringent environmental and sustainability standards. The acquisition of Greenwood Fuels is the first renewable energy investment for Libra Group in the United States. Libra already has extensive solar and wind energy interests in the South Eastern Mediterranean.

Greenwood Fuels has perfected a process that converts industrial by-products otherwise destined for landfills into superior renewable fuels that can be used as a direct substitute for coal. The company serves a range of industrial customers and utilities from its 150,000 ton/year facility in Green Bay, Wisconsin.

The acquisition comprises the purchase of Greenwood Fuels LLC and its operating subsidiaries from Plainfield Asset Management LLC, which will retain a minority stake in the company.   Libra has also committed substantial additional capital to support the growth of Greenwood Fuels.  Commenting on the acquisition, Camilo Patrignani, Head of Americas for Libra, stated: “This is an exciting time for Libra  and represents a first step in creating a wide-reaching renewable energy business platform in North America.   Greenwood Fuels’ products show tremendous promise in addressing proven demand in this sector of the energy market.  We will work with Greenwood Fuels to ensure it is well-positioned to implement the next phase of its growth strategy and will be looking to penetrate a number of key markets in the near future.”

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.

About Libra Group
The Libra Group (www.libra.com) is a privately owned modern conglomerate undertaking strategic investment around the globe. The group was created in 2003 as a holding company for the diversified business interests of the Logothetis family. With companies operating from 18 offices across four continents, Libra Group’s subsidiaries are focused on aviation, shipping, energy, real estate and hospitality. Libra Group already has substantial solar and wind energy interests in the South Eastern Mediterranean through its subsidiary, EuroEnergy (www.euroenergyholdings.com).

Users of company’s fuel may now able to generate renewable energy credits in Wisconsin

Madison, WI- April 13, 2010- Greenwood Fuels’ product has been deemed a “renewable” fuel by the Wisconsin State Legislature.  Grid electrical generation created through the use of the company’s fuel pellets count towards the state’s renewable portfolio standard (RPS) of 10% by 2015.  As a result, Greenwood’s customers are able to generate renewable energy credits, greatly enhancing the value of the fuel.

As part of its effort to reverse climate change, the Wisconsin State Assembly and Senate passed legislation in 2009 (Assembly Bill 649) to set an RPS for the state.  In Amendment 1, the legislature outlined additional alternative fuel sources to be deemed “renewable.”  This includes the company’s manufactured fuel from clean industrial, “pelletized waste” containing no more than 30% fixed carbon.

Note: Greenwood Fuels became incorporated into Greenwood Energy in October 2011 as a renewable power generation business unit was added to the existing renewable fuels’ business.