CRL Energy ownership

13 July 2010

The Coal Association of New Zealand is pleased to announce its buy back of the Genesis Energy 50 per cent shareholding in CRL Energy. The Association is now the sole owner.

Genesis Energy decided to sell its shareholding in CRL Energy after reassessing Genesis Energy’s strategic objectives in relation to fuel exploration and power generation.

CRL Energy, originally called the Coal Research Association, was established on the Gracefield Science Campus over 40 years ago by the coal industry in partnership with Government. Coal is one of New Zealand’s major energy resources with several centuries of reserves. On a per capita basis our reserves are second only to Australia. Coal is the only energy source in New Zealand that has its own research organisation.

In 1995, CRL Energy was established as a commercial research institute. Since then it has doubled in size, establishing a new laboratory and geology team in Christchurch, and satellite laboratories in the Waikato, the West Coast, and the Lyttelton Port. CRL Energy has expanded its capabilities to provide services relating to bioenergy, geothermal energy, coal seam gas, carbon capture and storage, and minerals exploration. With the support of the Foundation for Research, Science and Technology and the industry, CRL Energy has maintained a strong and growing clean coal utilisation and mining research programme.

The Association sees its ownership of CRL Energy as an important commitment both to the coal industry and to a sustainable energy future for New Zealand.

For more information, please contact:

CRL Energy:

Dr Rob Whitney, Chief Executive CRL Energy Ltd

Phone: (04) 570 3703, , E-mail: r.whitney@crl.co.nz