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Clean Energy Fund Appoints Investment Director

ROCKY HILL, Conn., Feb. 15, 2000 - Charles Moret of Simsbury has been named investment director of the Connecticut Clean Energy Fund, a new venture capital fund managed by Connecticut Innovations.

Moret will work with entrepreneurs and co-investors to originate and manage investments in projects that build consumer demand for, or produce clean power, and in companies that market clean energy products and services.

Moret has more than 25 years' experience in business and entrepreneurial financing in Connecticut. Prior to joining Connecticut Innovations, he was director of special finance with New England Bank and executive vice president with Business Lenders, a leader in U.S. Small Business Administration lending. He was formerly senior vice president for Fleet Bank, involved in asset based finance, credit administration and business credit. In addition, Moret served for two years as Fleet's international representative in Mexico City.

A graduate of Pace University with a bachelor's degree in marketing, Moret holds a Master of Business Administration in finance from Fairleigh Dickinson University.

Commenting on Moret's appointment, Connecticut Innovations President and Executive Director Victor Budnick noted, "Charlie Moret's experience in commercial lending and his knowledge of Connecticut's investment community will help the Clean Energy Fund take its place as a leading investor in clean energy projects and technologies."

The Connecticut Clean Energy Fund (CEF) is a venture capital fund dedicated to promoting the use of clean power in Connecticut. CEF invests in start-up and early stage clean energy projects, offers clean energy co-investment opportunities, and helps consumers obtain energy generated by clean or renewable sources.

The Connecticut General Assembly created CEF in 1998 as part of legislation restructuring electric utilities. The Clean Energy Fund began formal operations in January 2000. Connecticut Innovations, which manages the fund, is the state's leading investor in high technology. More information about the Fund can be found on the web at www.CTCleanEnergy.com

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2000 Connecticut Clean Energy Fund