The Ventus Funds

INVESTMENT MANAGER

Temporis Capital LLP is the investment manager to the Ventus Funds. For further information about Temporis Capital and the team, please visit www.temporiscapital.com.

Director and Investment Manager

Ian joined Temporis Capital in September 2011 and has been working as an investment manager for the Ventus Funds since September 2009 (formerly at Climate Change Capital Limited). He has 20 years' banking and finance experience and most recently was working on a self employed basis for two renewable energy development companies arranging and assisting with the procurement and structuring of bank debt.

Prior to this he headed the renewable energy team for Alliance & Leicester where he and his team had responsibility for renewables project financing. His career in banking and finance has covered credit and risk, commercial lending, structured tax products, private finance initiative and project finance with debt advanced or agreed for transaction counterparties based throughout Europe and North America in the renewables, energy, gas, oil storage, ports, transportation and infrastructure markets.

Charles Conner serves as senior advisor to the Ventus funds and is a member of the Ventus Investment Committee. Charles formed the first Ventus fund in 2004 and was the lead investment manager of the Ventus funds from 2004 until 2007, also serving as a director of Ventus VCT plc from 2010-2011.

Charles has 20 years of experience in corporate finance (Salomon Brothers), property finance (Dumas West and Co) and private equity. He was also an entrepreneur for seven years, during which period he formed, managed and sold two companies in the IT and telecommunication sectors in Europe. He has substantial experience in the financing of various sectors of the energy industry, including exploration and development, pipelines, oilfield equipment, distributed generation and renewable energy. He has also originated and structured energy outsourcing transactions, with a particular emphasis on reduction of energy consumption and emissions.

Charles holds a BS degree from Purdue University and an MBA from the Harvard Business School.

Vice President and Technical Investment Manager

Steve joined Temporis Capital in September 2011 and acts as the Technical Investment Manager for the Ventus Funds. He helped to establish Ventus in 2004 and has over 17 years of experience in managing and developing wind energy projects. Prior to this Steve spent eight years with National Wind Power (now npower Renewables) and two years with ScottishPower, and has been closely involved in the successful deployment of over 500MW of wind projects in the UK and USA.

Steve has extensive experience in assessing the technical and development risks of renewable energy projects, and in managing the planning and development process for onshore wind farms. He holds a BSc Honours Degree in Electrical and Electronic Engineering and is a Chartered Engineer.

Vice President and Investment Manager

Matt joined Temporis Capital in 2011 and began working as investment manager for the Ventus Funds in 2008 (formerly at Climate Change Capital Limited). Before joining the Ventus team he worked as a tax lawyer in the London office of the leading US firm Debevoise & Plimpton LLP and advised on the formation of private equity funds, management incentive schemes and investment structures. He works on the development, structuring and execution of Ventus investments and is also responsible for fund raising. He holds a BSc. (Hons.) degree in Mathematics from the University of Exeter.

Portfolio Management Associate

Joanna joined Temporis Capital In September 2011 and began working as a portfolio management associate for the Ventus Funds in March 2010. Prior to joining the Ventus team, Joanna Cao spent two years as a fund operations associate working on the Carbon Finance team at Climate Change Capital Limited. There she worked on various aspects of investor relations, credit risk management, finance, deal reporting and treasury management for the business.

Prior to joining Climate Change Capital, Joanna spent two and half years as a credit risk and operations analyst at Goldman Sachs International in London. There she primarily worked in the collateral management team which oversees and manages the firm's OTC derivatives and repo exposure to hedge funds and institutional clients.

She is a Chartered Financial Analyst level III candidate and holds a BSc (Hons) in Mathematics and Statistics from the London School of Economics. She also obtained her Investment Administration Qualification (IAQ) in 2006.

Team Administrator

Sian joined Temporis Capital in September 2011 and began working as team administrator for the Ventus Funds in March 2008. She is responsible for the general administrative duties for the team as well as assisting with the administration and banking for the portfolio of investee companies.

The Board of Directors

The Boards have a broad range of investment experience in both smaller growing companies and larger quoted companies, as well as specific investment experience in UK energy projects.

Ventus VCT plc Board

David Pinckney >

David Pinckney retired in December 2003 as Vice Chairman of AXA Investment Managers, the investment management arm of the AXA Group with over $500 billion under management. He was formerly senior Audit Partner for France and French speaking Africa with Peat Marwick Mitchell & Co. (now KPMG). He was Managing Director of Wrightson Wood Financial Services Limited, Joint Managing Director of Thornton Management Limited (a subsidiary of Dresdner Bank) and was chairman of the AIM-quoted Park Row Group plc. He is a Director of
Albion Development VCT PLC.
David Williams >

David is a graduate Chartered Electrical Engineer who also holds qualifications in Management, Accountancy and Finance. He has been involved in renewable energy for 20 years. Following nineteen years with utility company SWALEC, he started Energy Power Resources Ltd (EPRL) in 1996 and shortly afterwards undertook a £25 million private placement, the UK's largest private placement in renewable energy. The target set by the venture capitalists was to create the UK's largest renewable energy company, generating over a 100MW of base load capacity from biomass within three years. David was Chief Executive of EPRL until February 2002 by which time EPRL had achieved its growth targets.

David co-founded Eco2 in November 2002 and led negotiations on a £100m funding deal with Good Energies Investments Ltd and Bank of Tokyo Mitsubishi UFJ to build a windfarm in Scotland, Wales' first commercial scale biomass project and a number of other windfarm projects. He is now leading an ambitious business plan to develop over £1Bn of biomass projects throughout Europe.

David is a member of the British government's Renewable Energy Advisory Board and was previously an Independent Grant Assessor for the DTI. He has also been a member of the DEFRA Biomass Implementation Advisory Group and is a non executive advisor to New Zealand based CE3 renewable energy fund.

David won the Champion Award - given in respect of a lifetime's achievements in renewable energy - at the Renewable Energy Association's Awards in June 2007.
Rick Abbott >

Rick Abbott had a successful 25 year career as an investment banker before retiring from the industry in 2000. He spent 13 years at Morgan Grenfell and was ultimately Global Head of the Financial Sector Industry Group at Deutsche Morgan Grenfell. He then moved as a Managing Director to ABN-AMRO for 3 years. Rick then became Chief Executive of Park Row Group plc before its sale to Royal Liver in 2003.

More latterly he advised the Knight Frank Partners on the creation of their Financial Service activities and was a Founder Managing Partner of Rutley Capital LLP, a private equity real estate asset manager.

He currently sits on the board of Hardy (Underwriting Agencies) Limited, the main operating subsidiary of Hardy Underwriting Bermuda Limited, and their Investment and Finance Committees. Rick is also Chairman of Mansard Capital, a global macro hedge fund.

Ventus 2 VCT plc Board

Alan Moore >

Alan Moore has more than 40 years' experience in the UK electricity industry and is a leading figure in the UK renewable energy industry. From 1998 to May 2004 he was the Managing Director of National Wind Power (now RWE npower renewables), one of the largest developers and owners of wind generation assets in the UK. He has been Chairman of the national trade association Renewable UK, and for eight years was co-Chairman of the UK Government's Renewables Advisory Board. He is an Adjunct Professor at Imperial College, London. He is also a non-executive Director at Partnerships for Renewables.
Paul Thomas >

Paul Thomas is Managing Director of Pi Capital Limited, the London based independent private equity firm that invests up to £5 million in growing, unquoted UK businesses. He has over 25 years of private equity experience, including 19 years with ECI Partners LLP, the London based mid-market buy-out house, where he was Managing Director until retiring in 2003. During his time with the firm, ECI made over 100 investments ranging in size from £500,000 to £25 million, deploying capital of over £200 million. Paul Thomas also serves as Chairman of the Investment Committee of Temporis Capital in relation to the Ventus Funds.
Colin Wood >

Colin Wood spent 27 years as a civil servant in the Scottish Office before retiring from a senior position in the Scottish Executive in 2001. From 1993 to 1998, he was Senior Economic Advisor and Head of the Economics and Statistics Unit at the Scottish Office Industry Department, where he was responsible for providing economic advice on a range of issues including energy markets and the environment. He is a Director of the Century Building Society in Edinburgh.