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Clean Energy Fund Appoints Investment Director

(8/15/00) Subhash Chandra of West Hartford has been named investment director of the Connecticut Clean Energy Fund (CEF), a capital investment fund managed by Connecticut Innovations.

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

During his 25-year career in the electric power industry, Chandra has gained extensive experience in project development and management, as well as international business. While with BIOTEN GP, a subsidiary of Eastern Utilities involved in developing small biomass-fired power plants, Chandra was responsible for marketing in both domestic and international markets. As a principal in Charter Oak Energy, an unregulated subsidiary of Northeast Utilities, he had overall responsibility for developing independent power projects in India, including coal- and diesel-fueled plants and bagasse-fired co-generation plants. He also worked with Northeast Utilities, Combustion Engineering and Babcock & Wilcox, managing several plant-construction and betterment projects and participating in the design of nuclear-reactor internal structures and steam generators.

An active member of the American Society of Mechanical Engineers, Chandra has co-authored several industry standards and published more than 25 research articles. He holds master's and doctoral degrees in aerospace engineering from the University of Cincinnati.

Commenting on Chandra's appointment, Connecticut Innovations President and Executive Director Victor Budnick noted, "Subhash's industry knowledge and his experience in initiating innovative power-generation projects will help Connecticut take advantage of the benefits of renewable energy."

The Connecticut Clean Energy Fund is an investment fund dedicated to promoting the use of clean power in Connecticut. CEF invests in start-up and early stage clean-energy projects and offers clean-energy co-investment opportunities.

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.

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