EDITORS: Please do not use
"Pacific Gas and Electric" or "PG&E" when
referring to PG&E Corporation or its National Energy Group.
The PG&E National Energy Group is not the same company as Pacific
Gas and Electric Company, the utility, and is not regulated by the
California Public Utilities Commission. Customers of Pacific Gas
and Electric Company do not have to buy products or services from
the National Energy Group in order to continue to receive quality
regulated services from Pacific Gas and Electric Company.
CAPITAL LAUNCHES WEBSITE
Web Presence Offers New
Avenue for Energy, Telecom Ventures
San Francisco - Pacific
Venture Capital, LLC, the venture capital arm of PG&E Corporation
(NYSE: PCG), today launched the firm's new website, providing emerging
energy and telecommunications companies the opportunity to submit
business plans and prospectuses for backing from the new venture
capital unit. The site-www.pacificventurecap.com-provides
the fastest, most efficient means of contacting Pacific Venture
Capital for companies seeking financing, said Bryant Tong, the company's
president and CEO.
"We expect a significant
portion of our deal flow will come to us via the Internet," said
Tong. "Our website now provides businesses and entrepreneurs with
a fast, easy way to contact us and provide the information we need
from them. Ultimately, our web presence is meant to allow us to
screen and respond quickly to a greater number of deals."
In addition to the access
and the basic information about the firm, the website also offers
recent news about the company, as well as a listing of conferences
and other upcoming events at which members of the Pacific Venture
Capital team will be available to meet with potential partners.
Pacific Venture Capital
was launched as a new unit of PG&E Corporation in June 2000. The
company makes strategic investments in next-generation leaders in
the energy and telecommunications businesses. It plans to invest
up to $100 million in its first year of operation.
"Our objective is to generate
new value for PG&E Corporation shareholders by investing in fast-growing,
innovative energy and telecommunications companies, and to gain
insight into new technologies and business models to impact PG&E
Corporation and its business strategy," said Tong.
"Our resources, industry
expertise, and Northern California location put us in an excellent
position to identify, contribute to, and share in the success of
some of the most promising companies in these businesses," he said.
Pacific Venture Capital
is a subsidiary of PG&E Corporation. PG&E Corporation, with 1999
operating revenues of almost $21 billion and operations in 21 states,
markets energy services and products throughout North America through
its National Energy Group. PG&E Corporation's businesses also include
Pacific Gas and Electric Company, the Northern and Central California
utility that deliver natural gas and electricity to one in every