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A Technology Developers Perspective March 2008

A Technology Developers Perspective March 2008. Leader in clean-tech and sustainable technologies In commercial operation for 15 years 50 staff, own labs, engineering and business development AIM IPO Jan 2007 ~$200MM market capitalization

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A Technology Developers Perspective March 2008

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  1. A Technology Developers Perspective March 2008

  2. Leader in clean-tech and sustainable technologies In commercial operation for 15 years 50 staff, own labs, engineering and business development AIM IPO Jan 2007 ~$200MM market capitalization We have become the “expert’s expert” in our core fields Four ventures in play Energy storage, biofuels, hybrid vehicle batteries, sustainable mining More in development Independent funding of IP Technologies developed for live commercial clients Freedom to work only on what we believe will work Minimized IP entanglement with third parties Cross licensing between ventures Successfully competed with better funded DOE, university, and industry research teams

  3. Consulting projects “prime our pump”…

  4. …and drive our “incubator” business model • Ideas and market research feed the process • Consulting is a key part of this • Products and credibility built off common facilities • delivering additional ideas and opportunities • Value realized through licenses, trade sales, and IPOs • Risk managed by “portfolio” approach • key staff and facilities spread across several projects • minimal fixed “burn-rates” • exits timed to markets, not funding needs

  5. Core technology, know-how, IP... • Advanced Separations • Arsenic and other toxic oxy-anion, • EverClear • Cyanide recovery and cyanide-free gold refining • Reduction Oxidation (RedOx) systems • Plurion • Perchlorate • Fine chemical synthesis, waste tar conversion, cellulosic ethanol • Electrodes and Coatings • Plurion, • Nitrate, perchlorate, MMR, EverClear • BLAB, zinc/air • Electrolyzers • MMR, nitrate • Plurion, soluble lead-acid battery

  6. … and strategic relationships • Lawrence Berkeley National Laboratory • Thin-film batteries and RedOx • UC Davis • Vehicle batteries and biofuels • Lotus Engineering • CFD, product design, automotive applications • Rohm & Haas • Co-developed products for water markets • BASF • RedOx electrolytes and specialty materials • Plasma Quest Ltd. • Electrode materials • Siemens • Water treatment market partner, power electronics Plasma Quest Siemens

  7. Ventures in progress: • Water and water re-use • Licenses and options sold in nitrate, arsenic, perchlorate • Sterilization and purification technologies under development • Advanced batteries • Plurion – high capacity renewable energy storage • “BatteryCo” - hybrid vehicle battery • Metal-Air - portable devices • Clean energy and sustainable mining • EverClear – acid mine drainage and mine tailings recovery • RedOx – biofuels

  8. Electricity Storage • The market has arrived! • Storage mandated for all new wind and solar energy projects • Japan first; California, Washington, and Oregon to follow • British Columbia has >40GW of unusable wind resource • Utilities are showing strong interest • AEP has announced a 1GW battery project • Regulators becoming proactive • California Energy Commission planning for $60Billion of storage The days of “must take” renewable energy PPAs are over

  9. electrolysers Electrolyte tanks Flow Batteries • High capacity battery technology • Energy stored in liquid electrolytes (tanks) • Power delivered through electrochemical cells (cell stacks) • Power and energy are de-coupled - adding tanks increases capacity • Also known as • Reversible fuel cells • RedOx batteries Diagram of Plurion’s 65kW module

  10. Product vision & status • Customers do not want chemical factories • Gas turbine-based peakers have set the product standard • Plug and play • Leased, not sold • Project finance is massively risk averse • Current status • Battery test facility in Glenrothes • Looking at expansion site in Methil Layout of 250kW module

  11. The view from 2005 • In 2005 US still fixated on H2 • DOE funding of H2 v Batteries was >20:1 • US markets negative to storage • Seen as derailing wind • Utilities not receptive • EU and other markets starting to understand the need for storage for renewables • Germany, Ireland, Scotland each suffering grid instability from wind • Decision to expand Plurion out of the US

  12. Why Scotland? • Looked at Germany, Ireland and Scotland • Each understood the need for storage • ITI Energy shared our vision for storage • And moved the fastest

  13. Doing business in Scotland • What worked • Initial move • Facility and infrastructure • World view of Scottish leaders • Challenges - general • Scarcity and cost of skilled labor • Experienced chemical engineers are as expensive as in California • Cost of property • Roads and airports • Challenges – specific to Plurion • Plurion viewed as an arm of Scottish government • Locally – entangled in local politics • Overseas – could not access DOE and CA funding

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