Contact:  Kathy Montgomery, VP of Marketing & Strategic Design
678.581.8225 or kmontgomery@prenova.com

ATLANTA, GA – May 8, 2006 – Prenova, Inc., one of the nation’s largest energy management solutions providers, announced today that it has raised $11 million in venture capital funding. Leading the round is new investor Arcapita Ventures, who was joined by previous investors Austin Ventures, Frontenac Company, River Cities Capital Funds and Colonnade Strategies. As part of the financing, Prenova also announced that John Huntz and Ramsay Battin of Arcapita Ventures have joined its Board of Directors.

The company will use the proceeds from the financing to meet increasing customer demand and support further investment into its patent pending technology delivery platform. Energy expenditures are one of the most volatile and significantly increasing cost components in the retail, commercial and manufacturing business sectors. Prenova’s solution set is invaluable in driving down and managing total end-to-end energy costs (price, usage, asset repair/replacement costs, and maintenance costs).

“The company has assembled a set of highly referenceable, blue-chip customers who have realized significant returns on investment through their relationship with Prenova,” said John Huntz, Executive Director of Arcapita Ventures. “We are confident that Prenova’s solution set and experienced management team ideally position the company in a market where customers are increasingly focused on reducing and managing their energy-related expenses.”

“Prenova’s set of unique, technology-enabled solutions provides our customers significant competitive advantages in managing the challenge of rapidly increasing energy costs,” stated Ed Smith, CEO of Prenova. “Arcapita’s strategic support, combined with the firm’s extensive global resources, will enable us to extend our leadership position and greatly enhance our ability to deliver high-value energy management solutions to an even broader array of businesses.”

“Customers are demanding innovative energy solutions that can produce significant returns at a fraction of conventional costs and timeframes,” adds Smith. "Our customers utilize Prenova’s solutions to fully leverage their existing energy assets, manage their energy risks and remove every possible dollar out of their energy-related operating costs. Results are dramatic, rapid, measurable and sustainable, allowing our customers to turn these cost reductions into improved earnings performance.”

Prenova was advised in this transaction by Morgan Keegan.

About Prenova

Founded in 1997 and headquartered in Marietta, GA, Prenova, Inc. delivers visibility, manageability and predictability (VMP®) over customers’ energy usage, price, energy-related asset performance and maintenance costs. Through its energy management solutions, the company works both sides of the energy bill to drive down energy expenditures and thus improve profitability.

Prenova’s unique delivery platform enables the company to leverage existing customer assets to produce immediate, enhanced investment returns through reductions in both direct (price, tariff, utility payments) and indirect (usage, assets, maintenance) energy costs, while simultaneously improving reliability of business operations. There are no set-up costs, nor upfront software or hardware required. The value Prenova creates for its customers is significant to their bottom line, and includes the following:

• reduction in energy usage by up to 30%
• avoidance of unplanned maintenance/repair costs by up to 40%
• extended equipment life by up to 30%

Prenova manages billions in annual energy expenditures across tens of thousands of customer locations nationwide. Some organizations that rely on Prenova include Costco, Crate & Barrel, Dollar Tree, Eddie Bauer, Famous Footwear, MCI, Owens Corning and 24 Hour Fitness. For more information, please visit www.prenova.com.

About Arcapita Ventures 
Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c), partners with outstanding entrepreneurs to build market-leading companies. Arcapita Ventures focuses on growth-stage enterprises across the United States in the healthcare, information technology and industrial technology sectors. Arcapita Bank, a leading international investment firm with offices in Atlanta, London and Bahrain, has completed more than 50 transactions with a total value exceeding $11 billion in the venture capital, private equity, real estate and asset-based markets. Contact Arcapita Ventures at (404) 920-9000, via e-mail at vcapital@arcapita.com or on the web at www.arcapita.com.