TPI Composites Raises 22 Million in Growth Equity Financing

Warren, RI, October 11, 2007 - TPI Composites, Inc., a leading manufacturer of large-scale composite structures for the wind energy, transportation, and military vehicle markets, announced today that it has closed $22 million in Series A Convertible Preferred equity financing from new and existing investors. NGP Energy Technology Partners led the investment round and was joined by Angeleno Group and return investor, Landmark Growth Capital Partners.

"We are very pleased to welcome NGP Energy Technology Partners and Angeleno Group as new investors in TPI. We believe the energy experience of NGP and Angeleno Group, combined with the valued perspective of our existing investor, Landmark Growth Capital Partners, will serve TPI well at this important time in the life of our company," stated TPI President and Chief Executive Officer Steven C. Lockard. "We expect our wind business to continue its dramatic growth in North America and China over the next couple of years. We are gaining significant traction in our military and transportation businesses as well. Each of our markets will benefit from the Series A growth capital."

"TPI has made great strides since we teamed up with management to acquire the company in 2004," said Paul Giovacchini, TPI Chairman and Principal of Landmark Partners. "We look forward to working with NGP Energy Technology Partners and Angeleno Group to assist the management team at TPI in furthering the growth of this great company."

"TPI is an exciting company with a strong management team and a proven ability to produce high-quality, large-scale composite structures in volume," said Philip Deutch, Managing Partner of NGP Energy Technology Partners. "TPI’s reputation in the marketplace, combined with its blue chip customer base and compelling business model make it an attractive investment for NGP Energy Technology Partners."

Daniel Weiss, a Managing Partner of Angeleno Group added, "TPI has a competitive advantage that is difficult to replicate. Its people and their innovative spirit combined with advance technology and world-class factories will allow TPI to become a significant force in the manufacture of composite products."

As part of the transaction, Philip Deutch will join TPI’s Board of Directors.

About TPI Composites, Inc.
www.tpicomposites.com

TPI Composites, Inc., headquartered in Warren, Rhode Island, is a leading manufacturer of large-scale composite structures for the wind energy, transportation, and military vehicle markets. TPI operates factories in Warren, Rhode Island; Springfield, Ohio; Juarez, Mexico; and Taicang, China.

About NGP Energy Technology Partners
www.ngpetp.com

NGP Energy Technology Partners, L.P. is a Washington, D.C.-based $148 million private equity fund investing growth capital in companies providing technology-related products and services to the oil and gas, power and alternative energy sectors. The fund is managed by investment professionals with extensive experience investing in virtually all types of energy technologies and a strong track record of helping companies grow, create value, and establish strategic partnerships. NGP Energy Technology Partners is an affiliate of NGP Energy Capital Management, a leading investment firm with over $7 billion of cumulative capital under management which serves all sectors of the energy industry

About Angeleno Group
www.angelenogroup.com

Angeleno Group is a Los Angeles-based private equity firm focused on high growth investments in the energy sector. Angeleno Group makes investments broadly across the energy industry to support innovative, well-managed, early-to expansion stage companies. Areas of particular interest include: advanced generation, renewables, environmental technologies, energy intelligence and control, transmission and distribution, power storage, and advanced fuel technologies. Investors in Angeleno Group funds include leading endowments and foundations, nationally recognized family offices and former CEO's and board members of some of the country's most prominent energy companies.

About Landmark Partners
www.landmarkpartners.com

Landmark Partners is a private equity and real estate investment company specializing in secondary funds. Since its founding in 1989, Landmark has formed 25 private equity and real estate funds with over $6.4 billion of investor capital from leading domestic and international institutional investors and family investment offices. Landmark Growth Capital Partners is a $78 million direct investment fund that invests in growing small and mid-size companies in partnership with their management teams.

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