Tortoise
Capital Resources Corp. Adds To Its Investment in Mowood,
LLC
FOR
IMMEDIATE RELEASE
LEAWOOD,
Kan.– Aug. 8, 2008 – Tortoise Capital Resources Corp. (NYSE: TTO)
today announced that it has invested an additional $1.5 million of equity in
Mowood, LLC (“Mowood”), a TTO portfolio company with interests in gas
distribution and landfill gas collection systems. The investment will
be used by Mowood’s subsidiary, Timberline Energy, LLC (“Timberline”) to
complete landfill gas to energy projects in Butler, Ne. and Hernando,
Fl.
Timberline
currently operates a landfill gas to energy subsidiary in Oklahoma City,
Ok. The Oklahoma City facility, which came online in May 2008,
produces high Btu gas that is piped to a local cogeneration plant and a local
interconnect on the Southern Star pipeline. The Butler facility,
which is substantially complete, is expected to begin commercial operations
later this year, and is designed as a direct use facility that will pipe gas
to
an international food producer. The Hernando facility also is
substantially complete and is expected to begin selling electricity into the
local power grid before year-end. With the completion of these
facilities, Timberline will operate a high Btu facility, a direct use facility
and an electricity generation facility - one of each of the three types of
landfill gas to energy projects feasible under current technology.
“We
are
excited to see the transformation of Timberline from a development company
to an
operational company. We believe that Timberline’s ability to
successfully complete three different types of landfill gas projects will
position the company as an industry expert and create the opportunity for
significant expansion,” said Tortoise Capital Resources’ President Ed
Russell. “In addition, we believe that Timberline will continue to
have opportunities for growth as interest in green and renewable energy sources
becomes more prevalent.”
About
Tortoise Capital Resources Corp.
Tortoise
Capital Resources invests primarily in privately-held and micro-cap public
companies operating in the midstream and downstream segments, and to a lesser
extent the upstream segment, of the U.S. energy infrastructure sector. Tortoise
Capital Resources seeks to provide stockholders a high level of total return,
with an emphasis on distributions and distribution growth.
About
Tortoise Capital Advisors, LLC
Tortoise
Capital Advisors, LLC, the adviser to Tortoise Capital Resources Corp., is
a
pioneer in the capital markets for master limited partnership (MLP) investment
companies and a leader in closed-end funds and separately managed accounts
focused on MLPs in the energy infrastructure sector. As of July 31, 2008, the
adviser had approximately $2.6 billion of assets under management.
About
Mowood, LLC
Mowood,
LLC is a holding company with interests in a natural gas and propane local
distribution company and an operator of projects that convert landfill gas
to
energy.
Safe Harbor
Statement
This
press release shall not constitute an offer to sell or a solicitation to buy,
nor shall there be any sale of these securities in any state or jurisdiction
in
which such offer or solicitation or sale would be unlawful prior to registration
or qualification under the laws of such state or jurisdiction.
Contact
information
Tortoise
Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331,
www.tortoiseadvisors.com.