LCA Low Carbon Acc.

TIDMLCA

RNS Number : 4660O

Low Carbon Accelerator Limited

19 September 2011

19(th) September 2011

Low Carbon Accelerator Limited ("LCA" or "the Company")

Further Update: Proven Energy Limited

LCA is today giving a further update on its investee company, Proven Energy Limited ("Proven").

The Company announced on 13(th) September that it anticipated having to make a substantial or total write-down of its investment in Proven. Proven was subsequently placed in receivership on the 16(th) September. Although a number of parties have expressed interest in the Proven business, LCA still expects to make a substantial or total write down of its investment, leaving the Company's adjusted NAV per share in the range of 30.5p to 31.5p as previously indicated.

About Us:

Low Carbon Accelerator Limited is a closed ended investment company created to invest in a portfolio of fast-growing low carbon businesses. The Company listed on the AIM Market of the London Stock Exchange on 11 October 2006, raising GBP44.5 million. On 26 June 2009, the Company announced that it had raised a further GBP10 million, net of expenses, following the successful placing of a further 41.6 million shares.

Enquiries:

Low Carbon Investors Limited

Steve Mahon, CIO

Andrew Affleck, Chairman

Tel: +44 (0)20 7631 2630

Grant Thornton Corporate Finance

Colin Aaronson

Melanie Frean

Tel: +44 (0) 20 7383 5100

This information is provided by RNS

The company news service from the London Stock Exchange

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