Ze-gen Secures $2.25 Million in Series A Financing

Cleantech company on target for demonstration facility in early 2007

Boston, August 17, 2006 - Ze-gen, Inc., a Boston-based, privately-held company providing advanced gasification technology to convert industrial and municipal waste streams into synthetic natural gas and low emissions electrical energy, announced today that it has secured $2.25 million in Series A financing from a syndicate of investors. This financing event, led by Massachusetts Technology Development Corporation (MTDC), will be used to help the company construct and operate a proof-of-concept facility in New Bedford, MA.

"If Ze-gen's technology demonstration is successful, this could represent a very significant development in solid waste management and renewable energy generation", commented Jerry Bird, VP of MTDC. "Ze-gen offers the potential to position Massachusetts as a leader in advanced technologies for thoughtful solid waste management and make a significant impact on greenhouse gas reduction and renewable energy generation in this region and throughout the world."

"We are thrilled with the vote of confidence this funding represents," noted Ze-gen President & CEO, Bill Davis. "The market for small, modular, and non-incineration based technology which converts waste into distributed and clean energy is in the hundreds of billions of dollars. This funding is an important milestone toward leadership of this emerging market."

About Ze-gen, Inc.
Ze-gen was formed in mid-2004 in order to develop and deploy efficient gasification systems that convert municipal solid waste (MSW) and construction and demolition waste (C&D) into clean energy. The reasons to do so are compelling:

In the United States alone over 350 million tons of MSW and C&D are created each year, with 300 million tons ending up in landfills. Once there, this waste converts into approximately 580 million tons of CO2-equivalent greenhouse gas, of which 50% is methane, a substance 22 times more harmful to the environment than CO2 itself
Landfills are the largest man-made source of methane gas emissions and account for over 8% of total greenhouse gas generation
MSW/C&D is rich in carbon content with a dry-weight BTU/lb of 6500, and is easily converted into synthetic natural gas. In a world of $70 per barrel oil, Ze-gen represents a non-incineration based opportunity to create clean power with a limitless supply of free fuel

Company Contact:
Ze-gen, Inc.
617-875-1062
Bill Davis, President ()

For more information, contact Mary E. Stack, Accounting and Portfolio Data Assistant, (617) 723-4920

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