NEW YORK & SAN FRANCISCO & HONG KONG & CHICAGO - nvtip -- Astor Capital Fund's alternate energy group announced on Tuesday, that the company is in talks to roll out and commit an additional $45M in a new clean energy investment initiative. While many banks have been putting big money into renewable energy investments, the move by Astor comes on the heels of previously released mega announcements both on sustainable partnerships and philanthropy. And, the bank has already demonstrated a long commitment to alternate energy, before it was ever the buzzed about topic. Thus, this next move, only further stirred up speculation that the Astor brand plans on leading banking into this new model of investing, especially as we approach the second decade of the millennium and clean energy is the focus.

Still, as Astor Capital continues to retain its crown as a prominent private banking institutions in the U.S. for the better part of a century, this proposed promise certainly, if nothing else, puts a fine point on the intended direction of the company over the next few years.

"It's a significant pledge to be sure," said Thomas Mellon, CEO, "and while we have made no definitive determination, it's only a small portion of our commitment to alternate energy. We understand the grave need to lead the investment industry into a new modern era. The responsibility is one we take seriously."

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If the additional funds are designated for energy investing, it's a lot of money to be sure, even for the legendary staple, a company so often recognized for giving spectacularly throughout New York City. But this is bigger than philanthropy. The Astor Capital plans to potentially invest an additional $45 million over the next five years in low carbon business ventures, some say, may be risky.

Whether sustainability or investing in low-carbon businesses is good for posterity, Oliver Hawthorne says, it isn't the primary driver behind the move. Says the Director of Marketing, "Like all companies at the present time, we have a deep commitment to alternative energy and investing in these types of ventures. Of course, we are looking at how we can further contribute to energy investing and support low-carbon businesses. Some may attribute altruistic motives to that decision. But make no mistake, we answer to our clients, shareholders, and investors. We're looking at this decision not only from a climate-conscious perspective, but simply put, as an opportunity to grow wealth. "The demand is there for clean energy. We serve the client at the final hour. And, if the demand is there at the end of the day," he said "it's smart business."

Hawthorne is also quick to point out, "We are weighing all the options. If it's not this amount, in this way, there will be an additional commitment to clean energy investing at some point soon. It's a promise we have pledged and a discussion that the alternate energy group has consistently revisited. And, it's already public knowledge just how much we have already pledged in the way of sustainability and green energy. So, this is just one more additive in the larger picture."

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Astor Capital Fund, has never faded into the background when it comes to taking a leadership stance in the investment industry, even if that means, staying true to their brand, when it may be tempting to follow the trends of banks everywhere and jump on the clean energy wagon. Conversely, risk is risk. Some banks have faced criticism for not having fully analyzed fossil fuel investment risks and the exposure therein. However, given the bank has already embraced alternate energy, and with the support of investors and shareholders in tow, this new commitment isn't as fraught with risk.

Clean energy is the current "climate" of things and not likely to fade away any time soon.

The Astor Capital Fund has among its focus areas, The Alternate Energy group. This division has extensive involvement in every corner of the alternative energy market, including energy generation, power grid ancillary services, energy/fuel logistics and distribution, tax credits, and green attribute / renewable energy credits. Visit Astor Capital Fund for more information.