Haynes and Boone New York Helps Long Island Renewable Energy Company Clear Skies Group Prepare for Solar Energy Construction Needs

April 08, 2008

NEW YORK – Haynes and Boone, LLP announced completion of a series of transactions for Long Island-based Clear Skies Solar, Inc. (CSKH.OB), a leading solar energy construction firm. Clear Skies completed a $7.2 million private placement (PIPE) of common stock assisted by Haynes and Boone New York attorneys.

“Haynes and Boone attorneys helped us navigate the complex transaction necessary for us to continue to expand our business and establish our presence in the international solar energy market,” said Ezra Green, Clear Skies chairman and chief executive officer. “The transaction enables us to broaden our investor base and create a public market for our stock, as well as enhance our visibility in the rapidly expanding solar sector.” Clear Skies recently announced it had entered a contract for construction of a 1 MW solar park in the Mojave Desert of California.

“We selected Haynes and Boone New York for their familiarity with the needs of companies in the alternative energy sector and recognized experience in company-side representation of finance transactions,” Mr. Green said.

New York partner Harvey Kesner, who heads the Haynes and Boone New York Business and Securities Regulation group, and has represented numerous alternative energy clients said, “Small clean technology companies are having their day among smart-set investors. We have seen a rapid expansion in interest in these companies which make ideal candidates for the newly evolving financing instruments and transactions sweeping the small- and mid-cap market."

“These companies often find traditional investment bank, hedge fund or venture capital investors’ interest difficult to hold, and turn to the alternative public offering (APO) market as a means to secure relatively modest capital without burdensome restrictions that often constrain startup and growth companies in need of capital,” Mr. Kesner said. “Many of these companies go on to subsequent financing through traditional investment banks and other means once they begin to execute their business plans and require additional capital.

“Last year, we saw biodiesel and ethanol deals dominating the alternative energy landscape and today the focus is shifting to wind and solar ventures, both domestically and overseas.”

Haynes and Boone, LLP represents many Internet, new media, alternative energy and telecommunications companies. PrivateRaise, LLC, the leading source for comprehensive market intelligence and analysis of PIPEs and Rule 144A transactions, recently ranked Haynes and Boone as the fourth-leading PIPE issuer law firm ranked by number of deals. Since 2007, the firm has assisted in more than 25 completed deals totaling in excess of $500 million.

Haynes and Boone, LLP is an international law firm with offices in New York, Washington, D.C., Mexico City and Moscow and throughout Texas, providing a full spectrum of legal services. Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal.

Clear Skies Solar was founded by Ezra Green, a 25-year construction veteran who in 1998 had the determination to focus on the needs of the emerging renewable energy sector. The company supplies and installs most forms of green energy mechanisms and contributes to the industry by developing high- and low-tech products. Clear Skies has received, and has patents pending, for proprietary mounting systems, energy data recognition devices, and has developed copyrighted software for energy data processing and aesthetic integration. Clear Skies recently announced it had received a contract to install a 1 MW solar park located in the Mojave Desert of California.

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Nathan Koppel
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+1 512.867.8431
nathan.koppel@haynesboone.com
Linda Campbell
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+1 214.651.5362
linda.campbell@haynesboone.com

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