Leaf completes a $17 million investment in SkyFuel, Inc.

April 28, 2008 - Leaf Clean Energy Company (“Leaf”) [LSE: LEAF.L], an AIM listed company incorporated for the purpose of investing in clean energy companies and projects in North America, is pleased to announce the completion of a $17 million Series B preferred stock financing in SkyFuel, Inc (“SkyFuel”) led by Leaf. SkyFuel is a technology leader for next-generation utility-scale solar thermal power systems and is an industry leader in advanced materials and components.

SkyFuel will use the funding to commercially deploy its breakthrough SkyTrough™, a high-performance, low cost parabolic trough solar collector. The SkyTroughTM incorporates the proprietary, patented ReflecTech™ film, which is a highly reflective and unbreakable mirrored film that has the potential to significantly lower the cost of solar energy generation by replacing expensive glass mirrors. The funding will also allow SkyFuel to pursue solar markets and progress research and development on the Linear Power Tower™, a high-temperature linear Fresnel system. SkyFuel is currently working with several independent power producers to develop utility-scale solar thermal power plants in the U.S. and abroad.

Peter Tom, Chairman of Leaf, said;

“This is a great opportunity for Leaf to partner with a leading solar CSP technology provider. We are excited by the prospect of helping SkyFuel deliver superior production solutions to the solar thermal industry.”

Dr. Arnold Leitner, SkyFuel founder and CEO, said:

“The SkyTrough™ will disrupt the solar thermal power market, The SkyTrough™ significantly advances parabolic trough design using advanced materials to greatly reduce cost while continuing to deliver the proven performance and simplicity of the only currently commercially viable solar thermal power technology.

Simon Shaw, Chairman of Energy & Climate Advisors, said:

“SkyFuel’s technologies represent cutting edge improvements and we believe they have the mix of know-how and management capability to make a positive mark in the solar sector.

“Dan Shapiro, President of Energy & Climate Advisors, said:

"This investment in SkyFuel secures Leaf a position in a solidly differentiated suite of technology based on products in the value chain of the solar CSP market as well in a superior management team that has developed a strategy, products, and configuration that make concentrated solar plants competitive with fossil fuel power. We are excited about the promise of the emerging solar energy market and SkyFuel’s success in it,"

About Leaf Clean Energy Company

Leaf Clean Energy Company (“Leaf”) [LSE: LEAF.L], is a publicly traded $400 million clean energy investment company. Leaf was incorporated for the purpose of acquiring interests in, owning, operating and managing clean energy companies and projects primarily in North America. The sector spans multiple industries, including wind energy, solar energy, energy efficiency, pollution control, emission credit aggregation, waste-to-energy, wave energy, biomass power and biofuels. The company’s main investment objective is to achieve long term capital appreciation through its acquired interests in the clean energy sector, as well as through the potential generation and commercialization of carbon credits derived from these projects. Leaf is advised by Energy & Climate Advisors, a joint venture between EEA Group and Shaw Capital.

About SkyFuel

SkyFuel, Inc. is emerging as a world leader in the design and deployment of concentrating solar power (CSP) systems. The Company designs turnkey large-scale solar plants that produce steam for power generation, desalination, wastewater treatment and other industrial applications. SkyFuel’s solar plants can be integrated into existing facilities using its proprietary FuelSaver™ approach, or can be built as stand-alone solar power plants. SkyFuel is focused on the development of parabolic trough and linear Fresnel CSP systems, as well as thermal energy storage. In November 2007, the U.S. Department of Energy selected SkyFuel to receive grant funding for the development of the Linear Power Tower™.

www.skyfuel.com

For more information contact:

Kevin McNulty
Director, Energy & Climate Advisors +1 281 368 4452

Ricardo Nogueira
Director, Energy & Climate Advisors +1 202 756 2944

Daniel Shapiro,
President, Energy & Climate Advisors +1 225 987 7408

Ivonne Cantu / Oliver Goad
Cenkos Securities plc +44 (0) 20 7397 8900

Claire Burston / Eleanor Punter
Penrose Financial +44 (0) 20 7486 4888

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