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PROJECT 100 BID DEADLINE EXTENDED TO AUGUST 15

Rocky Hill, Conn. (July 14, 2006) - The Connecticut Clean Energy Fund (CCEF), administered by Connecticut Innovations (CI), today announced that the due date for bids under Round II of Project 100 has been extended from July 17, 2006 to August 15, 2006. Project 100 is an initiative promoting the development and deployment of “Class I” renewable energy resources. The initiative supports the 2003 landmark Connecticut legislation mandating local electric distribution companies to contract a minimum of 100 MW of clean energy resources by July 1, 2008.

This due date extension was made necessary because of several open issues awaiting resolution by the Department of Public Utility Control (“DPUC”). Depending on how the DPUC decides on these issues, CCEF’s Round II RFP process may be affected. It is CCEF’s understanding that the DPUC may not issue its final decisions on these open issues for a few weeks. As a result, the DPUC has indicated to CCEF that extending the Project 100 Round II deadline to August 15, 2006, will allow enough time for CCEF and would-be bidders to receive the DPUC’s clarification on the open issues and make any changes if necessary.

If, upon review of the DPUC’s clarification of various issues, CCEF determines additional procedural modifications may be necessary, CCEF will notify bidders after consultation with the DPUC as appropriate and as far in advance of the bid deadline as possible. CCEF is hopeful that upon the release of the pending DPUC decisions on the open Project 100 issues, CCEF will be allowed to move forward expeditiously with the RFP review process.

About the Connecticut Clean Energy Fund (CCEF)

CCEF was created by the Connecticut General Assembly and is administered by Connecticut Innovations, a quasi-public organization. CCEF promotes the development and commercialization of clean energy technologies; the creation of clean energy supply; and the demand for electricity from clean, renewable sources in Connecticut in order to strengthen Connecticut’s economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF’s funding comes from a surcharge on electric ratepayers’ utility bills.

About Connecticut Innovations, Inc.

Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, non-profit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. Since 1995, CI has been the state’s leading investor in high technology and clean energy, investing over $180 million in companies, projects and programs.