New Report Showcases 50 Most Promising Nordic Cleantech Companies

Uncertain financial climate a concern but not a barrier to innovation in the
region, applicants say

COPENHAGEN, April 30 /PRNewswire/ --The Cleantech Group(TM), LLC, founders of
the cleantech sector and providers of leading global market research and
financial services for the cleantech ecosystem, in partnership with Cleantech
Scandinavia, the leading Nordic network of investors in cleantech, today
released a first ever report identifying 50 leading cleantech companies in the
Nordic market. The report, sponsored by leading Nordic VC firms BankInvest,
Energy Capital Management, Eqvitec Partners, Northzone Ventures, and
Sustainable Technologies Fund, identifies key representatives of Nordic
excellence in Cleantech innovation, as well as outlining the driving sectors
and key concerns facing this emerging region. The full publication can be
downloaded from Cleantech Group's and Cleantech Scandinavia's websites free of
charge.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080109/AQW116LOGO)

Despite challenging economic conditions and inevitable market pullback, the
companies selected as the 50 for this inaugural report demonstrated the
potential and likelihood to achieve high growth and high market impact.
Selected from 145 nominations, the final 50 companies were chosen from a range
of seed/pre-revenue and growth companies from all Nordic countries,
representing all cleantech segments.

The applicants all indicated a definite optimism for the future of the
cleantech industry in the Nordic region with the relative immaturity of the
market viewed as an opportunity to speed its development and capitalize on the
number of start-up and growth companies. There is, however, a note of caution
expressed over the relative high risk of investing in new businesses in such
an uncertain market. However, whilst this was a concern for companies, it was
not seen as the number one barrier that needed to be overcome in order to
achieve success in this market. Indeed the majority of applicants highlighted
operational excellence, personnel competence, strategic planning and customer
relations as the steps most necessary to develop their market.

"Whilst the current economic climate has given rise to some valid concerns
over the potential for investment into cleantech, there are promising signs
that this relatively inexperienced market will flourish in the years to come,"
said Magnus Agerstrom, Cleantech Scandinavia. "The companies taking part in
this year's report all demonstrate commitment to placing the Nordics at the
forefront of innovation in the cleantech sector."

Geographic breakdown

From the applications received, nearly half came from Sweden (48%), with
Denmark, Norway and Finland generating close to a fifth each (19%, 17% and 14%
respectively). Iceland had the smallest proportion of entries, coming in at
just 1%.

Sector breakdown - energy the bright light of the Nordics

The majority of applications (60%) came from energy related sectors. Other
well represented categories included water purification and wastewater
treatment, air purification and emission control technologies, as well as
advanced materials such as bioplastics, biodegradable fibers and various
nanotech-based materials.

"The findings of this report are certainly encouraging," said Richard
Youngman, MD, Cleantech Group, Europe. "The UK and Germany have to date been
the most significant areas for Cleantech venture activity in Europe, but the
Nordic countries, where sustainability, resource efficiency and environmental
consciousness have been part of normal culture for much longer than most
places in the world, show great promise to play a strong role in the future."

Notes

Nordic Cleantech 50 entry criteria:
To qualify for consideration, a candidate cleantech company must have been
unlisted and from the Nordic region (Denmark, Finland, Iceland, Norway, and
Sweden). To build the final list of 50, companies were evaluated for their
potential and likelihood to achieve high-growth and high market impact, using
the following main criteria:

-- Innovation: Problem it solves; Uniqueness; Sustainability of the
advantage; etc.
-- Market: Accessibility; Size; Growth dynamics, Accessibility / barriers
to entry, etc.
-- Ability to Execute: Finances; Team competences; Connections and
networks, etc.

The list below does not rank the 50, but lists them in alphabetical order and
identifies their cleantech segment and growth stage.

Nordic Cleantech 50 list:

Name Country What they do Est. Development
year stage

3nine AB SE Cleaning air and gases from 2002 Expansion
particles
Aluwave AB SE New material for LED lighting 2004 Expansion

Angle Wind AS NO Improved gearbox for wind 2007 Seed
turbines
Applied Nano SE Nano-composite steel coating 2008 Seed
Surfaces Sweden
AB
Aquaporin A/S DK Water purification membrane 2005 Seed
technology
Beakon SE Efficient thermoelectric chip 2005 Seed
Technologies AB
Beneq Oy FI Functional coating 2005 Commercialisation
applications based
on nanotechnology
BioGasclean ApS DK Biological biogas 2008 Expansion
desulphurisation plants
BioGasol ApS DK Production of cellulosic 2006 Seed
bioethanol, biogas and
solid fuel
Biokube A/S DK Distributed biological 2002 Expansion
wastewater treatment
system
Bioprocess SE Biogas production plants 2006 Commercialisation
Control AB efficiency optimisation
Bio-Teho Ltd FI Environmentally friendly 1991/2002 Commercialisation
wood preservative chemicals
Biowaz AS NO Distributed biogas 2006 Commercialisation
production from organic
waste
Carbon IS Production of methanol from 2005 Seed
Recycling CO2 emissions in power plants
International
ChapDrive AS NO Hydraulic transmission for 2007 Seed
wind turbines
Chemrec AB SE Black liquor gasification 1989 Commercialisation
technology
ChromoGenics AB SE Electrochromic film 2005 Seed
applications
ClimateWell AB SE Solar powered air 2001 Expansion
conditioning and storage
of thermal power
Danfoss AquaZ DK Membrane technology for sea 2006 Seed
A/S water desalination
Decision3 DK Energy optimising software 2006 Commercialisation
system for ships
Effpower AB SE Energy storage systems for 1999 Commercialisation
hybrid vehicles
Green Energy NO Modular geothermal power 2007 Commercialisation
Group AS plants
GreenOil DK Particle filtration and 2004 Commercialisation
Standard Aps water separation from
hydraulic and lubricating
oils
H2 Logic A/S DK Hydrogen and fuel cell 2003 Seed
technology for vehicles
Hywind NO Floating wind turbine for 2009 Seed
deep water sites
Innotech Solar NO Repowering non-prime solar 2008 Seed
AS cells
Langlee Wave NO Floating wave energy 2006 Seed
Power AS converter for medium waves
myFC AB SE Fuel cells for portable 2005 Commercialisation
electronic devices
Nidecon FI Inductive components and 2006 Commercialisation
Technologies power quality filtering
Oy solutions for power
electronic applications
Norstel AB SE Silicon Carbide wafers for 2005 Commercialisation
power electronics
OrganoClick AB SE Cellulose-based materials 2006 Seed
from bio-fibres
Pegasor Oy FI Sensor for fine particles 2008 Seed
in diesel engines
Picodeon Ltd Oy FI Thin film coating laser 2005 Seed
technology
re8 Bioplastics SE Biocomposite materials for 2009 Seed
molding and extrusion for
the plastic industry
ReVolt NO Zinc-Air battery technology 2004 Seed
Technology AS
Scandinavian SE Optimising biogas 2005 Commercialisation
Biogas production at wastewater
plants
Scandinavian SE Organic waste gasification 2001 Seed
Enviro Systems technology
AB
SeedGard AB SE Thermal disinfection of 2005 Commercialisation
seeds from pathogens
SenseAir AB SE Infrared free-gas sensors 1993 Expansion
Shark Solutions DK Laminated glass recycling 2005 Commercialisation
A/S
SootTech AB SE Energy efficiency 2007 Commercialisation
improvement in power
boilers
Stirling DK DK Biomass fuelled 2004 Commercialisation
cogeneration plants
Suntrica Ltd. FI Solar charging systems for 2006 Commercialisation
portable electronics
SWEBO Bioenergy SE Biofuels powered heating 1976 Expansion
AB systems
Switchpower AB SE Building integrated 2004 Expansion
photovoltaic power systems
Terranol A/S DK Yeasts for second 2007 Seed
generation bioethanol
Watreco AB SE Non-chemical water 2004 Commercialisation
purification
Wave Star DK Wave energy converters for 2003 Seed
Energy A/S high seas
WinWinD FI Low speed wind turbines 1998 Expansion
based on permanent magnet
technology
Xylophane AB SE Biodegradable barrier 2004 Seed
material for packaging

About Cleantech Scandinavia
Cleantech Scandinavia is a membership network of investors and affiliated
cleantech professionals designed to provide cleantech knowledge, contacts and
investment opportunities; be a coordinating voice to promote the Nordic
cleantech sector; and drive cleantech innovation and growth in the Nordic
countries. Cleantech Scandinavia offers its members a series of networking and
pitching events, business intelligence research and reports including Nordic
cleantech deal flow statistics, and holds a database of investment
opportunities in the region. Details at www.cleantechscandinavia.com.

About the Cleantech Group, LLC
The Cleantech Group pioneered the clean technology investment category in
2002. Today, it accelerates the development and market adoption of clean
technologies globally. The company's worldwide network of investors,
entrepreneurs, enterprises, service providers and others--representing
trillions of dollars in assets--receives access to capital, investment deal
flow, networking, market leading research and data, sales leads and
promotional opportunities. The Cleantech Group also provides advisory services
for large corporations and governments, publishes leading cleantech sector
industry news coverage and produces the premier Cleantech Forum(R) events
worldwide. Details are available at http://www.cleantech.com.

SOURCE Cleantech Group, LLC

Elke Heiss of Sterling Communications, Inc., +1-415-392-3209,
eheiss@sterlingpr.com; or Jacqui Depares / Ben Roberts of Johnson King, +44
(0)20 7401 7968, CTGteam@johnsonking.co.uk, all for Cleantech Group, LLC; or
Magnus Agerstrom, Managing Director, Cleantech Scandinavia, +46 (0)40 602 76
00, magnus@cleantechscandinavia.com, for Cleantech Scandinavia