NEWS

October 17th, 2007

SiC Processing AG, a global leader in the recycling and supply of wafer-cutting slurry, raises €53 million to fund further international expansion.

London - SiC Processing AG today announced the completion of a €53.4 million round of financing to fund further international expansion. The round was led by zouk ventures, and joined by Merrill Lynch Corporate Principal Investments (CPI) Group, CC Private Equity Partners (CCP), Masdar Clean Tech Fund, and Foursome Investments together with existing investors and the Heckmann family.

Established in 2000, SiC Processing is the global leader in the management and recycling of used slurry from the solar and semiconductor wafer industries. The Company currently owns and operates recycling plants in Germany, Norway, Italy, USA and China. It applies its patented technology to recover silicon carbide and polyethylene glycol required in the wafer cutting process, generating substantial cost savings for its customers. The Company has also developed logistical solutions for storage and transportation of used and ready-to-use slurries.

Thomas Heckmann, CEO of SiC Processing, said, “We are delighted with the commitment from our new investors and are keen to leverage their experience to broaden our international operations. We are busy putting expansion plans against long-term customer contracts and this financing round will clearly support our efforts.”

Dr. Alois Flatz, Partner at zouk ventures, said, “We have been following SiC Processing for some time and have been impressed by their unique technology, focused delivery model and strong customer base. The Company fits well into our Cleantech investment approach, which is focused on proven technology companies with strong growth rates in large underlying markets. This is an impressive company and we look forward to working closely with the team.”

This deal is one of Europe’s largest Cleantech growth deals in 2007.

END

For further information:

SiC Processing AG
Thomas Heckmann, CEO +49 (0) 96 22 70 39 400

zouk ventures
Dr. Alois Flatz, Partner +44 (0) 7920 848 574
Felix von Schubert, Partner +44 (0) 207 947 3402

Merrill Lynch
Dr. Ulrich Ahrens, Director +49 69 5899 5764

CC Private Equity Partners
Martin Gloor, CEO +41 44 488 80 00

Masdar Clean Tech Fund / Consensus Business Group
Wayne Keast, CEO Environment +44 207 355 7804

Foursome Investments
Iyad Omari, Manager +44 (0) 207 833 0555

Notes to Editors:

SiC Processing AG
SiC Processing AG (www.sic-processing.com), headquartered in Germany, is the leading service provider in wet separation, treatment and reclamation of used slurry. The Company focuses on industrial applications and logistical solutions in the manufacturing of photovoltaic and semiconductor wafers. The Company has production sites in Germany, Norway, Italy, USA and China. SiC Processing’s joint venture partner in China and the USA is Meyer Burger.

zouk ventures
zouk ventures (www.zouk.com) is a London-based venture capital firm that manages over $200m. As part of its clean technology strategy, zouk is focusing on expansion stage capital in areas such as solar technology, energy efficiency and storage, water, emission reduction, nanotechnology and recycling. zouk ventures has invested in renewable energy and energy efficiency technologies in Europe and Asia, and has been a leading investor in the carbon market for many years.

Merrill Lynch
Merrill Lynch (www.ml.com) is one of the world’s leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories and total client assets of approximately $1.7 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world’s largest publicly traded investment management companies with more than $1 trillion in assets under management.

CC Private Equity Partners
CC Private Equity Partners (www.corecapital.ch) CC Private Equity Partners Ltd., is an exclusive boutique in the private equity business. CCP’s investment focus is directed towards the biotechnology, medical technology and life science sectors as well as a variety of industrial fields and service providers. There is a geographical emphasis on Switzerland and neighbouring countries.

Masdar Clean Tech Fund
Masdar Clean Tech Fund (www.masdarctf.com) is a $250 million diversified venture capital investment vehicle that will build a portfolio of clean technology funds, direct/co-investments and joint venture investments. The Fund is made-up of commitments from the Abu Dhabi Future Energy Company, Consensus Business Group, Credit Suisse and Siemens.

Foursome Investments
Foursome Investments Limited (www.foursome.net) is a London-based investment management business specialising in early and growth stage venture capital and private equity investments. Since its inception in 1998, Foursome has focused on environmental and clean technology growth capital investments, as well as backing innovative early stage businesses with a disruptive offering.