Bird & Bird acts on US CleanTech and Renewables AIM float

06 February 2007

International law firm Bird & Bird has been advising new client Applied Intellectual Capital on its admission to AIM and £20m placing, valuing AIC at £40.2m.

AIC, which is based in San Francisco, develops electrochemical technologies with applications ranging from water purification, mine waste treatment, energy storage, renewable energy and sustainable resources. Bird & Bird advised on all aspects of the transaction. The team was led by corporate partner Alistair Crellin, assisted by David Lowe (corporate) Sonia Parsons (employment) and Tracey Horne (employee benefits).

Alistair Crellin commented:

"We were able to combine our corporate, technology and IP skills in the renewables and CleanTech sector in order to get this deal done. We have acted for a number of clients on private transactions in the renewables sector, and it is good to extend our track record into AIM in this sector"

Bird & Bird is acting for a number of clients in the CleanTech and Renewable Energy sectors from the firm's offices in the UK, Spain, Italy and Germany. New banking & finance partner Andrés Lorrio in Madrid recently advised Luzentia Renewables on the euro 188m financing of the 20 megawatt Jumilla solar plant in Spain, the largest solar facility in Europe. In the UK, Bird & Bird has advised on second round equity finance into wave power developer Aquamarine Energy, on the European set up of operations for US corporation Renewable Energy LLC, on investments into private equity house, Mistral Windfarms and investment into electric car company Going Green Limited which distributes the G-Wiz electric car in the UK.

For more information on this please contact Natalie Arestis, PR Manager on 020 7905 6248 or natalia.arestis@twobirds.com.

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Notes to Editors

About Bird & Bird

Bird & Bird is a full service international commercial law firm with an in-depth knowledge of chosen industry sectors. We focus on aviation & aerospace, communications, banking & financial services, e-commerce, information technology, life sciences, media and sport.

With offices in Beijing, Brussels, Düsseldorf, Frankfurt, The Hague, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Rome and Stockholm, we offer our clients local expertise within a global context helping them to realise their business goals both domestically and internationally.

Bird & Bird was identified as one of the Top 50 Law Firms in the world that has “taken the greatest strides towards globalisation while maintaining quality”, in a recent survey carried out by researchers for the PLCWhich Lawyer? Yearbook.