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New Investment Bank Targets Alternative Energy, Cleantech

Looking to jump on the "green train" before it leaves the station, a former UBS banker has assembled experts from Goldman Sachs, Citi, Morgan Stanley and Barclays to form Greentech Capital Advisors (GCA), an alternative energy and cleantech-focused investment bank.

According to Jeffrey A. McDermott, a 25-year banking veteran and former joint global head of UBS investment banking and founder of GCA, the firm's focus on the alternative energy space fills the need for a pure-play advisory firm dedicated to alternative energy and cleantech companies.

"For these companies to thrive, and for America to transition to a cleaner and more energy efficient economy, there is a need for a dedicated team of experienced bankers," McDermott said. "Alternative energy and cleantech companies need bankers with deep industry knowledge, a wide array of product skills, and relationships with large industrial, power and utility companies who are the ultimate customers, strategic partners and consolidators for these companies."

Even though climate change and energy legislation squeaked by the House late last month with an uphill battle expected in the Senate, it's clear a shift is under way; with energy efficiency, renewables and cap-and-trade all acting as buzzwords for the movement (see NGI, June 29).

GCA said it offers clients a set of capabilities across the project finance, private equity and mergers and acquisitions markets, with a "blue chip roster" of partners with significant expertise in each of these areas. They include:

Richard L. Kauffman, CEO of Good Energies Inc, an investor in renewable energy and energy efficiency industries, said, "After many years, the renewable energy sector is finally growing up. The sector needs capital and good advice."

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