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British Gas and Siemens Financial Services invest alongside Climate Change Capital in leading German Smart Grid company Power Plus Communications AG

PPC closes €12 million Series B funding round with strategic investors

Power Plus Communications AG (PPC), the leading provider of broadband powerline communication systems for smart metering and smart grids, announces it has raised €12 million growth capital in a round of funding by Siemens Financial Services' (SFS) Venture Capital unit and British Gas with participation from existing investor Climate Change Capital Private Equity (CPE).

The strategic investment aims to accelerate PPC's market growth in Europe and in the Middle East and establish its role in the transformation of the German energy system. Meanwhile, SFS and British Gas are strengthening their portfolio of advanced information and communications technology solutions for smart grid and smart metering.

Ingo Schönberg, Chief Executive of PPC said, "This new round of financing, which brings with it the additional support of two established players in the  market, is testament to PPC's proven technology and business model. PPC puts the 'smart' into smart metering, enabling customers to receive real-time updates of their energy, water and gas consumption and grid operators to control and manage load-demand inefficiencies.

"With Siemens and British Gas we can grow our existing client networks and extend our international market penetration," he added.

Bruno Derungs, a Partner of Climate Change Capital Private Equity said, "We are very satisfied that during our competitive fund raising process, we were able to select two investors as partners who we believe will be able to substantially contribute to the future development of PPC".

In November 2008, CPE invested €10m in PPC. With the Round B investment, PPC broadens its investor base where CPE will remain the major shareholder. Other shareholders of the company include founders, management and key employees. Dr Detlef Pohl of SFS and Mr Petter Allison of British Gas will join Dr Manfred Krüper (Chairman), Prof. Dr Torsten Gerpott and Bruno Derungs on PPC's supervisory board.  

ENDS

CONTACTS

Daniel Cremin - Climate Change Capital Ltd
+44 (0) 20 7939 5319
dcremin@c-c-capital.com

Thomas Wolski - Power Plus Communications AG
+49 621 401 65 127      
t.wolski@ppc-ag.de

NOTES TO EDITORS

About Power Plus Communications

Power Plus Communications is a leading German provider of broadband powerline (BPL) communications systems for smart metering and smart grids. Both Managing Directors Ingo Schönberg (CEO) and Eugen Mayer (COO) have led the company since its foundation in 2001.

PPC's BPL provides Distribution Network Operators (DNOs) and utilities with a powerful communications solution enabling smart metering and smart grids. Their open, standards-based BPL communications technology uses the existing electricity grid itself for broadband data transfer, in real-time, encrypted and Internet Protocol based. As a pioneer of BPL technology, PPC has outstanding experience and expertise and has already implemented BPL networks in electricity distribution grids supplying more than 500,000 households. PPC's customers include leading European DNOs and utilities such as E.ON, WPD and EnBW as well as utilities such as MVV Energie AG, Stadtwerke Düsseldorf, DEW21 (Dortmund) and Stadtwerke Ratingen. PPC is a partner in multiple smart grid projects such as E-Energy (Germany), DG Demogrid (Austria) and the Low Carbon Network Fund (Great Britain). PPC has won numerous awards for its innovative products and solutions, including three GB Bullhound Cleantech Connect awards, a 'Germany, Land of Ideas' selected landmark and a Guardian Global Cleantech 100 company.

www.ppc-ag.com

About Climate Change Capital Private Equity (CPE)

CPE is a €200 million European private equity fund that invests expansion capital in high growth, later stage companies and buy-outs in the areas of clean power, clean transport, energy efficiency, waste recovery and water. CPE is backed by leading institutional investors including Alpinvest, Robeco and Universities Superannuation Scheme.

CPE is part of Climate Change Capital (CCC), an investment manager and advisory group specialising in the opportunities generated by the global transition to a low carbon economy. CCC's Asset Management business manages funds with commitments in excess of €1.0 billion as at December 2011. The Group's funds invest in companies, projects and services that contribute to climate change mitigation or adaptation. 

Climate Change Capital is a wholly-owned subsidiary of Bunge and is a part of Bunge's Financial Services Group.

www.climatechangecapital.com/private-equity.aspx