ACAL Energy

| Investors

Shareholders

In addition to the management and Directors, the company's key investors include:

RisingStars Growth Fund, managed by EV, was formed in March 2002 and was the third most active VC investor in the UK in 2004*. It invests solely in seed and early stage companies that have the potential to grow quickly into international businesses.

*Source - Ernst & Young Venture Capital Insights Report 2004-2005

www.rsgf.co.uk

The Carbon Trust is a co-investor of choice in the low carbon technology field. They specialise in identifying and investing in early stage technologies and credible management teams with the ability to create and deliver 'low carbon' businesses.

www.thecarbontrust.co.uk

Synergis Technologies and their parent company Porton Capital investment from proof of concept to seed stage companies, and series A&B rounds. Porton Capital Limited is an offshore investment management company focusing on the distribution and management of sophisticated investor funds.

www.synergistechnologies.com
www.portoncapital.com

NorthStar Equity Investors specialise in high growth technology opportunities in the North East of England and will lead or participate in syndicates. They will invest between £250k and £1.5m alongside strong co-investors, including business angels, corporates and other venture capital firms.

www.northstarei.com

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