Leaf Clean Energy is incorporated in the Cayman Islands, but based in Washington, DC. Leaf is a renewable energy and sustainable technology investment firm, whose strategy since 2014 is an orderly realisation and return of capital to the shareholders. Leaf will not invest in any new portfolio companies but may make additional investments in existing portfolio companies, of which there are four. The largest share is in Invenergy Wind, North America’s largest independent wind generation company. LeHigh Technologies is a green materials company specialising in the production of micronized rubber powder from waste rubber. Vital Renewable Energy Company (VREC) produces ethanol and electricity from sugar cane. Energia Escalona is developing a hydroelectric power project in Mexico.
Exchange: London AIM (LEAF)
Financial Data from Exchange Website: LSE summary
Recent Financial Report: Interim to 31 Dec 2016
Further Information: In July 2014 Leaf decided to move from being an investing organisation to a company realising the value of its investments. In the year 2014/15 Leaf sold off many of its investments, leaving only the four described above.
Leaf expects the primary source of return to shareholders to be from Invenergy. However in 2016 Leaf sued Invenergy for breach of contract. In June a court awarded in Leaf’s favour, but did not determine the amount of damages. Litigation is on-going.
The Net Asset Value on 31 Dec 2016 was reported to be $91.8 million down $14.6m from 30 June 2016. This was ascribed to lower values for LeHigh and VREC, both of which are in the process of merging with other companies. Escalona needs to complete financing and overcome some hurdles before starting construction.
c/o Leaf Capital Management LLC,
1001 N. 19th Street, Suite 1200
Arlington, VA 22209
T: +1 202 289 7881
Executive Chairman: Mark Lerdal
Chief Financial Officer: Peter O’Keefe
Field of Interest: Wind, Hydro, Bioenergy