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Abu Dhabi Future Energy Company (ADFEC), Credit Suisse and Consensus Launch $250m Clean Tech fund Tonight

Abu Dhabi Future Energy Company (ADFEC), Credit Suisse and Consensus Launch $250m Clean Tech fund Tonight

The MASDAR Clean Tech Fund will be officially launched in London tonight at a reception hosted under the patronage of the Crown Prince of Abu Dhabi, Sheik Mohammed Bin Zayed Al Nahyan, at the Earth Galleries of the Natural History Museum in London.

The $250 million fund is a partnership between the Abu Dhabi Future Energy Company (ADFEC), Credit Suisse and Consensus Business Group (CBG) of the UK. The fund will invest in companies with promising clean energy technologies and sustainability-related technologies.

Sultan Ahmed Al Jaber, CEO of ADFEC, said: “Sustainable energy and climate change are the two great concerns of our age and the race is on to develop cleaner and sustainable fuel sources. This quest is reminiscent of the space age or the industrial revolution. Our fund’s objective is for Abu Dhabi to lead the way in developing scalable, cost-efficient, clean energy solutions by channelling our deep energy expertise and considerable financial resources into innovative technologies on a global basis.”

Michael Philipp, CEO of Credit Suisse for Europe, the Middle East and Africa region, said: “We are pleased to be partnering with both the Abu Dhabi Future Energy Company and CBG in the growth and development of alternative energy sector technologies. We believe that our extensive transaction experience, industry knowledge, strong relationships and access to top-tier investment capital will be a valuable asset to the Masdar Clean Tech Fund, its investors and portfolio companies.”

Vincent Tchenguiz, Chairman of CBG, said: “This is exactly the potent combination needed to address the global energy challenge. It is an exciting example of how government leadership can work with finance and business to bring the best scientific brains and intellectual property together with the necessary funds and institutional capacity to provide scaleable solutions.”

The fund’s initial seed capital of $100 million was provided by the government of Abu Dhabi at the April 2006 inauguration of the wider Masdar Initiative, with additional commitments of $100 million and $50 million made by Credit Suisse and CBG, respectively.

For further information please contact Jennifer Morgan at Bell Pottinger on +44 207 861 8609 (office) or +447909 975039 (Mobile) or,

This press release does not constitute an offer of securities for sale in the United States. Securities may not be sold in the United States absent registration or an exemption from registration. Any public offering of securities in the United States will be made by means of a prospectus provided by the fund that will contain detailed information about the fund and its management, as well as financial statements.

The Masdar Clean Tech Fund benefits substantially as part of the Masdar Initiative - Abu Dhabi’s multibillion-dollar landmark development dedicated to clean energy and sustainable technologies. This link between the fund and the wider initiative - whose core partners include Shell, BP, GE, Mitsubishi and Rolls-Royce and which includes a collaborative energy research network spanning six global research universities - maximizes the fund’s ability to select, promote and add value to the most promising opportunities in the clean tech sector.

The Partners of the Masdar Clean Tech Fund:

Abu Dhabi Future Energy Company (ADFEC) is a private joint-stock company incorporated in Abu Dhabi and wholly-owned by Mubadala Development Company. ADFEC is mandated to drive the Masdar Initiative, Abu Dhabi’s landmark program to leverage Abu Dhabi’s energy expertise and financial resources into innovative global solutions for cleaner, more sustainable energy.

ADFEC’s strategic partnerships combine leading international energy and technology companies with key Abu Dhabi stakeholders, working together to provide an adequate response to current energy and environmental challenges. ADFEC is well-positioned to drive progress in clean tech and sustainable energy due to Abu Dhabi’s abundant sunshine, water requirements, and large-scale CO2 sequestration options, which all provide world-scale opportunities to develop and apply new technologies in solar, water, carbon management and hydrogen power.

ADFEC is funding advanced research at six global research centers through its Masdar Research Network: RWTH Aachen University, German Aerospace Institute, Columbia University, University of Waterloo, and Imperial College of London, and Tokyo Institute of Technology. This powerful network is accelerating innovation in new energy technologies to benefit both industrially-developed as well as developing countries. Additional elements of the Masdar Initiative include an innovation center and a special economic zone to commercialize sustainable energy technologies.

For further information, please contact Steve Geiger on +971 2 616 0294

Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse’s parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich.

In its asset management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income, and multiple asset-class products to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse’s Alternative Investments business, part of its asset management business, is one of the largest alternative asset managers in the world with more than $100 billion of assets under management. Credit Suisse’s asset management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions, and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse’s asset management business is operated as a globally integrated network to deliver the Bank’s best investment ideas and capabilities to clients around the world.

Credit Suisse has made a strong commitment to combating climate change, as evidenced by its investment in the Fund, and acknowledges that climate change is one of the biggest environmental challenges facing the world, having direct implications for business, politics and society. In addition, the Middle East is one of Credit Suisse’s most important growth markets. Credit Suisse has been expanding its presence in the region to cater to clients’ investment banking, private banking and asset management needs since 1978, when it established an office in Abu Dhabi.

For further information, please contact Gavin Sullivan, Corporate Communications at Tel. +44 20 7888 8911, Mobile +44 7767 310 367 or

Consensus Business Group (CBG) is a multi-faceted principal investor in a broad range of synergistic activities.

This includes a substantial investment portfolio focused on new technologies and technology start-ups as well as structured finance, the acquisition, management and development of commercial and residential real estate.

CBG continues to expand its £500 million technology investment program of companies, specialized funds investment, and IP sourcing; coupled with a substantial business development network that provides CBG with an unprecedented level of access to new technologies, new industry models and economic acceleration resources.

CBG’s investment approach addresses all stages of the environmental value-chain with a deep focus on the synergies with other parts of CBG’s core business to ensure that CBG capitalises on the growth in the Environmental economy while driving the socially responsible agendas of the global corporate markets.

CBG has significant shareholdings in property and property related companies and is now one of the UK’s largest private property companies with a £4 billion portfolio of commercial and residential properties.

CBG also has an innovative Financial Engineering capability that is coupled with a global banking network to create a structured finance proposition focused on debt solutions with efficient risk/return profile.

For further information please contact Roger G. Ammoun on 020 7355 7966