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Clean Energy Fund Appoints Financial Analyst Associate

ROCKY HILL, Conn., July 25, 2001 - Al Francione of Rocky Hill, Conn., has been named financial analyst associate of the Connecticut Clean Energy Fund (CEF), a renewable energy investment fund managed by Connecticut Innovations.

During his 20-year career in the utility industry, Francione was formerly employed by Northeast Utilities (NU). His experience includes financial and cash flow analysis, the design of various financial models to evaluate investment opportunities in distributed generation businesses, and performance of numerous studies on NU's generating assets to determine future load growth.

He holds a bachelor of business administration degree from Teikyo Post University in Waterbury and a master of science in management with a finance concentration from Rensselaer Polytechnic Institute in Hartford.

Commenting on Francione's appointment, Connecticut Innovations' Executive Vice President and Chief Operating Officer Arnold Brandyberry noted, " Al Francione's business and energy knowledge, experience and analytical skills will be a strong asset to the Clean Energy Fund." The Connecticut Clean Energy Fund is dedicated to investing in enterprises and other initiatives that promote and develop sustainable markets for energy from renewables and fuel cells that will benefit the ratepayers of Connecticut.

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 and manages funds and initiatives that promote the growth of knowledge-based businesses in the state.

About Connecticut Innovations
Connecticut Innovations is a quasi-public organization that strengthens the state's economy by making equity investments in entrepreneurial, high-technology companies. From 1995 to 2000, CI became the state's leading investor in high-technology companies, investing more than $84 million to attract and retain growing companies, create high-paying jobs and increase Connecticut's intellectual capital.

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