Energy Photovoltaics, Inc. (now EPV Solar), an emerging clean technology company and manufacturer of thin-film solar modules, needed growth capital to expand the company's manufacturing capacity to meet growing demand for its products. The company was planning an initial public offering, but wanted some interim capital to strengthen its positioning. EPV selected Jefferies as sole placement agent to pursue a pre-IPO financing round. Jefferies was chosen as a result of our full-service capabilities to offer a diverse spectrum of products, the strength of our CleanTech franchise, our extensive transaction experience and knowledge of the CleanTech sectors, and our ability to develop unique transaction structures that are appropriate for growth companies. Jefferies put together a creative, customized pre-IPO convertible structure that effectively addressed the company's specific financing needs, and negotiated terms with more than a dozen investors, upsizing the transaction through extensive one-on-one meetings with institutional investors and hedge funds. The $77.5 million pre-IPO convertible senior secured notes offering that constituted securities convertible into common stock of EPV upon an IPO or sale of the business was significantly oversubscribed. The transaction was recognized by Euromoney and Ernst & Young for the unique structure of the deal, and the investor demand it generated, resulting in its being named Equity Deal of the Year in the technology sector at the 2007 Annual Global Renewable Energy Awards. The funding represented an important milestone for EPV and demonstrated investor appetite for alternative energy technologies, and, as a result of the transaction, EPV was able to raise the capital needed to significantly expand its operations.