California Clean Energy Fund Appoints New Director of Technology and Policy Development; Dan Adler to Bring Extensive Clean Energy Policy, Finance and Technology Experience to Advance California's Clean Energy Investment Agenda.

SAN FRANCISCO -- The California Clean Energy Fund (CalCEF), a $30 million public benefit investment fund created as part of the Pacific Gas and Electric bankruptcy settlement, today announced the appointment of Dan Adler as Director of Technology and Policy Development. In this role, Mr. Adler will be responsible for developing a clean technology investment strategy that bridges the interests of public policy and private capital stakeholders in support of California's renewable energy, energy efficiency and climate change mitigation goals.

Dan Adler brings a wealth of experience to CalCEF in the clean energy, utilities, and public policy sectors. As a senior analyst in Strategic Planning for the California Public Utilities Commission (PUC), Adler was responsible for designing and implementing California's Renewables Portfolio Standard program, resulting in the most far-reaching and ambitious renewable energy program in the United States. Dan was also senior staff for the state's aggressive climate change mitigation strategies, and had broad responsibility for analyzing emerging trends in the energy industry and developing and implementing policy to address those trends.

"Dan's broad academic and professional experiences, including the California Public Utilities Commission, provide him with a deep understanding of our unique value proposition," said Lisa Bicker, President of CalCEF. "As a leading principal in California's clean energy policy environment and investment community, Dan will play an instrumental role in helping us bring key stakeholders together to drive California's clean energy industry."

Prior to his work with the California PUC, Adler worked as a research analyst in socially responsible investment, researching companies in the energy and financial sectors, emphasizing performance across a range of social metrics including environmental management for sustainability, international investment and sourcing, and regional economic development strategies and assistance policies. He also has professional experience in international trade and technology competition policies.

In addition to Mr. Adler's broad professional background, he received a Master of Arts in Public Policy from Harvard University's Kennedy School of Government, where he focused on the impact of financial markets and regulation on advancing clean energy technologies. His studies culminated in a thesis titled, "Technological Selection in Competitive Energy Markets: An Agenda for California."

About CalCEF

The California Clean Energy Fund (CalCEF) is a new nonprofit public benefit corporation formed to make equity investments in clean energy companies. Established via the PG&E bankruptcy settlement with $30 million from PG&E shareholders, the Fund expects to deliver market based financial returns to its investors and positive environmental and economic returns to California, with a focus on PG&E's service territory. CalCEF targets companies focusing on energy efficiency, renewable energy, energy storage, and other products and services that are designed to enhance the clean energy sector. Financial returns will be reinvested in the Fund, enabling CalCEF to become a growing 'evergreen fund'.

The CalCEF Board of Directors blends public policy makers, investment professionals, entrepreneurs, and science and technology experts. Chaired by Michael R. Peevey, President of the California PUC, the Board also includes California Energy Commissioner Arthur Rosenfeld; Cal-ISO Board Member Mason Willrich; Mark Levine of Lawrence Berkeley Laboratory; entrepreneurs John Woolard and Tom Jacoby; Ralph Cavanagh of the Natural Resource Defense Council (NRDC); JPMorgan managing director Nancy Pfund; and former White House policy official Jonathan Foster.