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Kenda Capital B.V., manager of Shell Technology Ventures Fund 1 B.V., and Airlift Services International Announce Agreement

kpaul.mallasch — Tue, 23 Oct 2007 22:41:06 -0700

ALEXANDRIA, IN - Airlift Services International, Inc (ASI) announced today, that it has secured a significant investment from OptiLift Inc., a portfolio company of Shell Technology Ventures Fund 1 B.V. (STV Fund)). ASI is based in Alexandria Indiana.

STV Fund, managed by Kenda Capital B.V. (Kenda), is a unique large-scale investment fund focused at reducing the cost of energy by accelerating the development and deployment of new technologies. Kenda and the Fund possess a solid energy sector expertise, fostered through a unique technology relationship with the Shell Group. Optilift is a 100% owned subsidiary of STV Fund and is focused on artificial lift technologies.

Major investors in the Fund are the Royal Dutch Shell Group, Coller Capital and the Abu Dhabi Investment Authority.

ASI has developed a state of the art pumping System that uses compressed gas to lift oil and other fluids to the surface. Since beginning testing in 90’s the Airlift Pumping System has been used to lift 175,000 barrels of fluid from wells in Indiana, Kentucky, Illinois, and Texas. According to ASI President Dan Roberts “The ASI Pumping system is a unique downhole technology that is efficient, robust and has no wear out parts. It adds value to producers of shallow oil and gas wells by reducing maintenance and downtime, and extending the life of their current wells.”

“An additional benefit of the system is that it has no moving parts above ground allowing for safer and quieter operations. It can even be buried below ground level making the system environmentally friendly and a superior choice for urban and high traffic areas”, added Roberts.

According to Kenda Capital Investment Principal, Aruna Subramanian, “We make contact and work with entrepreneurs like ASI that offer new approaches to the challenges of the energy sector. Optilift focuses on novel Artificial Lift technologies and ASI is a safer, cleaner and more efficient solution for the land market. We are happy to welcome ASI to our family of new technology companies.”

“The Indiana energy sector has suffered for many years with loss of jobs; by the third year of the business plan ASI plans could add 45 jobs in technology areas such as engineering, machinist and heavy equipment operators,” added Roberts.

Roberts also commented, “We must thank our friends in Alexandria, at Kennedy Enterprises as well as John Ritchison our Intellectual Property and business attorney for supporting us during this process.”

Airlift Services International Inc. is a Delaware Corporation operating in Indiana at 8201 N. St. Road 9, Alexandria, In. 46001. www.airliftservices.com, info@airliftservices.com

Kenda Capital B.V. is based in Hardenburch, Lange Kleiweg 60F, 2288 GK Rijswijk, Netherlands, www.kendacapital.com, info@kendacapital.com.

Source: City of Anderson