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Clean energy backer Leaf Clean Energy made £3.8 million pre-tax last year and has so far invested £56.3 million.

Cayman Islands-based Leaf Clean, which raised $400 million (£200 million) at £1 ahead of its AIM float last year, spent $55 million in the 13 months to June on three investments and has since then spent another $57.5 million on three more. The company’s portfolio now consists of: bio-diesel technology provider Greenline Industries Inc, solar power systems specialist SkyFuel Inc, cellulose ethanol producer Range Fuels Inc, biomass power plant Multitrade Rabun GAP, thin film solar product developer Miasole and Mexican hydro plant Energia Escalona.

In 2007-08, Leaf Clean, steered by adviser Simon Shaw of Energy & Climate Advisors, received $18.5 million interest on the funds it raised before losing a net $1.9 million on foreign exchange and made $7.6 million (£3.8 million), which it has retained. The company says it made ‘substantial progress’ in the second half year and since June.

This includes agreeing heads of terms on several additional projects. Leaf Clean’s board, headed by chairman Peter Tom, has approved two of these, involving ‘traditional alternative fuels’ and ‘landfill gas’, which would represent a combined investment of nearly $70 million (£35 million).

Leaf Clean’s shares now stand at 96p, valuing the company at £193 million.

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