Time Zone:
(UTC+01:00) Oslo

Point Carbon raises $26 million in new share issue

Point Carbon AS announced today that it closed a significant investment, led by Oak Investment Partners and JPMorgan, in a deal valued at $ 43 million.

Oslo (19 September, 2007) 

The investment will provide Point Carbon with $ 26 million in growth capital to expand its product offering, develop its international presence, enhance its technology platform and expand its workforce to support its growing client base. 

“Oak, together with JPMorgan, are some of the most respected venture capital firms in the world, and their investment in Point Carbon is a strong statement of confidence in our strategy, business process, technology and management team,” stated Point Carbon CEO Per Otto Wold. “This investment will allow Point Carbon to increase our core strengths, the proficiency of our models and quality of our analysis, as well support our expansion internationally.” 

According to Ann. H. Lamont, a Managing Partner at Oak Investment Partners, “Point Carbon is uniquely positioned as the lead provider of analytics and services to its financial industry customers in the carbon, power and gas marketplaces. The Company has developed robust offerings and we are excited to partner with an experienced senior management to accelerate the growth of the business”. 

Post the transaction, Oak Investment Partners and JPMorgan will have minority interests in Point Carbon. Additionally, Ann Lamont and Patricia Kemp of Oak Investment Partners will join the Board. 

Who to contact
Point Carbon AS

Per-Otto Wold
CEO
Direct: +47 22 40 53 44
Mobile: + 47 90 75 98 51
Phone : +47 22 40 53 40 
 
Oak Investment Partners JP Morgan
Patricia Kemp 
Director – Financial Services 
E-mail: pkemp@oakvc.com 
Main: +1 203.226.8346 
Phone: +1 203.222.6847 

Brian J. Marchiony 
Technology Communications, Media Relations 
E-mail: brian.j.marchiony@jpmorgan.com  
Direct: +1 212-270-2596 
Mobile: +1 917-626-6798 

About Point Carbon
Point Carbon is the leading global provider of analysis, news, forecasting, information and market intelligence for energy and environmental markets. Point Carbon has global outreach with more than 15,000 subscribers in more than 150 countries. Point Carbon’s in-depth knowledge of power, gas and CO2 emissions market dynamics positions us as the number one supplier of unrivalled market intelligence on these markets. Our staff consists of over 130 specialists and includes experts in international and regional climate policy, mathematical and economic modelling, forecasting methodologies, risk management and market reporting. Point Carbon produces regular reports in English, Japanese, Mandarin, Portuguese, Spanish, Russian, Polish and Norwegian. Point Carbon has offices in Oslo (HQ), Washington, D.C., London, Brussels, Kiev, Hamburg and Tokyo. Please see www.pointcarbon.com for more details. 

About Oak Investment Partners
Oak Investment Partners is a leading multi-stage, global venture capital firm with a total of $8.4 billion in committed capital. The primary investment focus is on high growth opportunities in communications, information technology, financial services information technology, Internet new media, alternative energy, healthcare services, and consumer retail. With a 30-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 450 companies at key points in their lifecycle. Oak has been involved in the formation of companies, funded spinouts of operating divisions and technology assets, and provided growth equity to mid- and late-stage private businesses and to public companies through PIPE investments. Oak has helped innovators exploit new business opportunities and anticipate trends through long-term relationships that endure the changing economic landscape. Our accomplishments can be best recognized through the success of our companies and the ability to deliver consistent performance over time. For additional information, please visit the firm’s web site at www.oakvc.com

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.