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RLtec gets further investment

Article Date:  Mar 30 2009

Low carbon venture investor Low Carbon Accelerator (LCA) has made a further equity investment of £300,000 in London-based clean technology company ResponsiveLoad – which trades as RLtec.

This brings LCAs total investment in RLtec up to £2.3 million.

Dr Stephen Mahon, chief investment officer for LCA and board member of RLtec, says: ‘RLtec has made excellent commercial and technical progress in the last year and the industry has realised the enormous potential for energy and carbon savings that it can bring.’

The further investment in RLtec follows the company’s completion of the joint milestones set by LCA of gaining Ofgem approval, and signing its first significant commercial contract with energy company npower.

LCA raised a total of £44.5 million when it listed on AIM in 2006. This is the first investment the company has made this year, having announced in 2008 that it intends to concentrate on its existing portfolio.

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