Allied Resource Corp Gets $53 Million Financing

Date: June 6, 2008

Source: Allied Resource Corporation

Allied Resource Corporation Completes $53.0 Million Equity Financing with PCG Capital Partners, LLC

Allied Resource Corporation, a global climate technology group operating and servicing energy related businesses, today announced the closing of a $53 million preferred growth equity financing with PCG Capital Partners, a private equity firm in La Jolla, CA. Riverside Management Group acted as the lead advisor to Allied on the transaction.

Proceeds from the transaction will be used to accelerate Allied's climate technology activities in waste lube oil recycling and coal gasification with CO2 sequestration.

"PCG is an exceptional institutional partner and the capital enables Allied to accelerate its business plan while positioning it for an IPO," commented Heinz Schimmelbusch, founder and non-executive Chairman of the Board of Allied Resource Corporation. "The PCG Capital Partners transaction is a great step forward for Allied."

PCG Capital Partners Managing Directors and Allied Board Members Tim Kelleher and John Coughlin said: "We are excited to partner with such a proven and experienced management team in a very attractive sector. We believe that there are very strong long-term demand drivers for Allied's climate technologies and we look forward to a productive partnership."

Allied recently entered into an agreement (The South Heart Project) with Great Northern Power Development LP (GNPD) for a major coal gasification project through its wholly owned subsidiary, Allied Syngas Corp. The South Heart Project will use coal in a chemical process to create synthetic natural gas while also capturing CO2 for use in enhanced oil recovery. Additionally, the company is in the process of building its second waste lube oil recycling refinery in Germany and is expanding its production of DeNOx catalysts in China.

About Allied Resource Corporation

Allied Resource Corporation is a global climate technology group operating and servicing energy related businesses worldwide. Operations are based on proprietary technologies for the production of synthetic gases, reduction of CO2, NOx and sulphur emissions, the refining of waste oils into high quality oil products, the treatment of industrial waste water and the incineration of sludge and pelletized residues. For more information visit

About PCG Capital Partners

PCG Capital Partners, LLC is a private equity investment firm with over $1 billion under management and 14 years of experience providing innovative financings to help managers of growth companies reach their full potential. PCG Capital Partners focuses exclusively on non-control investments in structured equity securities to fund compelling organic growth initiatives, acquisitions, de-leveraging, and shareholder liquidity. Over the past 14 years, PCG Capital Partners has invested $1.2 billion under this strategy, generating top-quartile returns for its investors. For more information visit

About Riverside Management Group

Riverside Management Group, a merchant banking boutique founded in 1996, provides financial advisory services to companies, funds and entrepreneurs. It seeks to leverage experience in principal investing and managing businesses to provide expert advice to clients. Generally, it participates as investors in those companies for which the company provides advisory services. For more information visit

For more information, contact:

Allied Resource Corporation
Todd White 610-293-5817

PCG Capital Partners
Mark Oemcke 858-456-6000

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