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Dear E+Co Friends and Supporters:

I am sad to report that Paul van Aalst has advised us that he will be leaving E+Co at the end of February to join the management team of SOVEC, a Dutch investment fund investing in Ghana.

Currently our European Director, Paul has a long history with E+Co and has played a critical role in its growth and development. Paul joined E+Co’s Board of Directors in 1999 and was an active and dynamic Board member. He stepped down from the Board in 2004 to lead the development of E+Co’s European strategy, first as an advisor and later as E+Co’s European Director. In 2007 Paul became a full time employee of Stichting E+Co, E+Co’s Dutch foundation, opening our Amsterdam office and managing our European growth.

During his tenure at E+Co, Paul led, secured and managed relationships with our European funders and lenders. His connections to the European impact investing community proved invaluable to the organization. Paul was also instrumental in shaping E+Co’s private equity fund development strategy, particularly as it relates to structuring investing in Africa through private equity funds. This learning is informing us even today as we develop a restructuring strategy with our lenders and other supporters.

On behalf of E+Co I would like to thank Paul for over a decade of dedicated service to E+Co and its mission. We wish him well with him with his future endeavors and know that we can always count on him as a friend, as he can on us.

Christopher Aidun
Managing Director
E+Co

New Investment Management Team in Place to Reposition Organization

New Jersey— February 15, 2012 – Bloomfield, N.J. – E+Co, the non-profit leader in clean energy investing in small and medium enterprises in emerging markets, announced today that it will phase out its innovations unit to solely focus on and scale up clean energy investments in developing markets. E+Co invests seed and growth capital to create and expand sustainable renewable energy businesses in Africa, Asia and Latin America. Its investments range in size from approximately US$25,000 to US$1,000,000.

“E+Co has been a clean energy pioneer for more than 15 years”, said Guy Kern-Martin, E+Co Board Chair. “We look back with pride at helping thousands of people gain access to clean, affordable energy. As we look to the future, our singular focus must be on sound investments with promising entrepreneurs in emerging markets.”

In an effort to capitalize on new investment opportunities and further grow its investment operations, E+Co has appointed a new management team to lead its experienced staff. These appointments include Christopher Aidun, Managing Director; Lucy Berkowitz, Finance Director and Dirk Muench, Investment Director. Mr. Aidun, Ms. Berkowitz, and Mr. Muench have more than 60-years of combined experience across the financial markets with particular expertise in investing and restructuring.

E+Co’s new investment management team undertook a review of the organization’s portfolio and financial condition at the direction of the Board of Directors. Following that review, E+Co has begun a restructuring of E+Co’s portfolio and operations with the support of its principal lenders and other constituents. E+Co’s lenders have provided E+Co with continued financial support during the anticipated 60 day planning and repositioning period.

“E+Co’s Board and management see tremendous opportunities to develop effective clean energy enterprises that can have positive, life changing impacts on thousands of people,” said Managing Director Chris Aidun. “E+Co’s successes with clean cook stoves, solar home systems, LPG gas and small hydro and biogas projects can and should be scaled in our markets in East and West Africa, Central America and Southeast Asia”.

Board member Lisa Kleissner added, “We remain steadfast in our commitment to E+Co’s mission, recognizing that repositioning E+Co is not only necessary to continue that mission but will enable it to become a larger, more effective investor in and promoter of clean energy in emerging markets.”

E+Co is a mission-driven investment company that provides services and financing to clean energy entrepreneurs in Africa, Asia and Latin America.

After more than 15 years with E+Co, Christine Eibs Singer has decided to leave the organization in order to engage in energy access issues at the strategy level.

In 1994, Christine co-founded E+Co with Phil LaRocco to champion clean energy enterprise development around the world. Their vision and leadership enabled E+Co to pioneer the model of services and capital to entrepreneurs.

“We are very thankful to Christine for her efforts in building E+Co from the ground up into a non-profit leader in clean energy and entrepreneurship” stated Guy Kern-Martin, Chairman of the Board of Directors of E+Co. “Her enormous contribution to this sector is widely recognized and her boundless energy and unflagging optimism will be missed.”

Chris Aidun, Managing Director of E+Co, added “ Christine’s vision will be missed, but our commitment to E+Co’s mission remains deep. E+Co’s dedicated staff around the world will continue their pursuit of providing access to clean energy through the promotion and development of enterprises in emerging markets.”