Altira Deepens and Broadens Its Specialized and Technical Partner Team

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Denver-Based Venture Capital Firm Blends Substantial Energy Sector Experience With Significant Investing Expertise to Enhance Its Powerful and Proven 15-Year Track Record

Altira has a long history of building companies and creating value for investors by exploiting transformative energy technologies

Altira Group LLC, a Denver-based venture capital firm that has invested $1 billion with partners in over 100 energy transactions since 1996, today announced two recent appointments to enhance its powerful, proven track record and unique experience investing in cutting-edge technology investments across all of energy.

Hull McKinnon, a 10-year veteran of the firm, has been promoted to the position of Partner; and Steve Foster, most recently a Partner at Texas Pacific Group (TPG), has joined Altira as a Partner.

These two appointments represent Altira's committment to deepening and broadening its specialized team, which will continue to exploit the investment opportunities for technology in the energy industry - the largest industry on the planet.

Generating Even Greater Returns for Investors

"You can't be a generalist and just walk in and build an energy investment portfolio today," explains Dirk McDermott, Altira's Managing Partner. "It takes substantial energy sector experience as well as significant venture capital experience. Both Hull McKinnon and Steve Foster have that elusive but essential combination. We're building on what Hull and our team have already achieved here at Altira, and we'll continue to generate returns for our investors in the years to come."

Adds McKinnon: "There will always be a steady wealth of exciting energy opportunities out there, but the key is having a seasoned and experienced team that can assess and analyze both the energy possibilities and the investment potential of a situation. In the end, if you don't have that blended capability, you can't deliver the right financial results in the right time frame for your Limited Partners."

McKinnon has an accomplished background when it comes to sourcing, investing and managing energy technology companies. He has led dozens of transactions, and currently serves on the boards of Eco Power Solutions, Lilliputian Systems, Southwest Windpower, Renaissance Lighting, and Enerpulse. Prior to joining Altira, he was an advisor with PricewaterhouseCoopers, where he helped grow a host of entrepreneurial companies. He is a CPA and a graduate of the College of William and Mary.

Foster co-founded TPG Ventures in 2000, and helped raise approximately $1.8 billion for several TPG funds. He brings a 15-year history of successful investing to Altira, including several recent high-profile exits. Most recently, he was a key player in TPG's global energy practice, evaluating opportunities ranging from early-stage investments to corporate carve-outs and buyouts. His current board memberships include Energy Power & Solutions (EPS).

Before joining TPG, Foster was a Partner at Crosspoint Venture Partners, Director of Business Development at 3Com, Senior Manager at Hewlett Packard, and Audit Manager at Ernst & Young. He has a Masters Degree in Management from the Kellogg Graduate School of Management at Northwestern University and a Bachelor of Science Degree from Santa Clara University, where he currently serves as Chairman of the Advisory Board at the Center for Innovation and Entrepreneurship.

Profitably Exploiting Transformative Energy Efficiencies

"Altira has a long history of building companies and creating value for investors by exploiting transformative energy technologies," says Foster. "And there continues to be an enormous opportunity in energy, so I'm looking forward to working as part of the Altira team to build the next generation of successful energy startups."

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Steven Gottlieb
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