Presentation to 2007 Tidal Energy Conference Ketchikan, AK January 24, 2007 Providing Diversity for Alaska’s Energy Future A New Source of Emission-Free Electricity From Alaska’s Boundless Tidal Resources ORPC Alaska, LLC 911 West 8th Ave., Suite 205 Anchorage, AK 99101

About ORPC Page 2 of 7www.OceanRenewablePower.com Our Mission Ocean Renewable Power Company, LLC (ORPC) was founded in 2004 for the purpose of generating reliable, competitive, emission-free electricity from the virtually unlimited energy resources of the oceans. ORPC will accomplish its mission by developing proprietary modular ocean current generation (OCGen™) technology and incorporating it into environmentally superior, financially successful tidal and ocean current projects.  ORPC is both a technology development (integration) company and a project development company. Projects are developed using regional development companies (ORPC Alaska, LLC)  The ORPC Management Team includes seasoned professionals with successful track records in development and financing of cogeneration, independent power and renewable energy facilities, and in management of startup companies, technology development, engineering, construction and operations  ORPC’s Technical Team is comprised of highly competent and well-respected individuals and companies with extensive experience in the specific fields of expertise needed  The initial design of the OCGen™ system has been completed and the next step in commercialization is engineering, procuring, installing and testing of a full- scale tidal prototype  To date, ORPC has been funded with private equity

OCGen™ Technology Page 3 of 7www.OceanRenewablePower.com Prototype Configuration 4-Module Configuration 6-Module Configuration Proven technologies and components integrated Into an innovative, rugged, modular design that provides scalability, flexibility and reliability. Primary OCGen™ Components  Cross flow helical turbine  Focused flux permanent magnet (water-tight enclosure)  Submersible platform (station-keeping)  Power electronics & control system (water-tight enclosure)  Power & control cable  Underwater transmission line Key Design & Deployment Features  Multiple deployment configurations – maximum site flexibility  Submersed deployment position – no visual impact, no interference with shipping  Anchor & mooring line system – minimal impact to bottom  Turbine-generator on a single shaft – no gears, one moving part  Low vertical profile – minimal depth required

ORPC Alaska Tidal Sites Page 4 of 7www.OceanRenewablePower.com Resurrection Bay (Alaska) Site Area Cook Inlet (Alaska) Site Area Cook Inlet Site ▶ Located in upper Cook Inlet, just west of Anchorage – close proximity to rail belt grid ▶ Encompasses at least 2 promising sites in Knik Arm (Cairn Point) and Fire Island ▶ Site has potential for development of large scale tidal energy project(s) ▶ Potential for tie-in to Fire Island wind project Resurrection Bay Site ▶ Extremely large ice-free bay ▶ Access to the rail belt grid via Seward ▶ Current velocity data not extensive but does not look promising for areas in close proximity to Seward ▶ Sufficient currents may exist in the vicinity of Fox Island but electrical connection to Seward is a problem ▶ A possibility for future consideration

ORPC Cook Inlet Strategy Page 6 of 7www.OceanRenewablePower.com ORPC Alaska is pursuing a comprehensive tidal energy development plan for Cook Inlet in conjunction with Port Mackenzie and the Matanuska-Susitna Borough. Key elements of the plans are:  ORPC, in conjunction with Port Mackenzie/Matanuska-Susitna Borough, plans to engineer, build, install, test and monitor an OCGen™ tidal prototype at Port Mackenzie o Site current, depth, environmental and port engineering data being researched and evaluated o The hope is to use existing port infrastructure to support prototype o Scheduled for installation by summer 2008 o ORPC hopes to fund the prototype through a combination of State and private funding  During execution of the prototype project, ORPC will pursue development of the 1 st commercial OCGen™ project within ORPC’s Cook Inlet site area  Assuming success of the OCGen™ tidal prototype project and completion of development of the 1 st commercial project, ORPC will finance, build and operate the 1st project in Cook Inlet in the 2010 – 2012 timeframe

Next Steps Page 7 of 7www.OceanRenewablePower.com The success of ORPC Alaska’s plan for development of tidal energy in Cook Inlet will depend on a number of critical factors, some of which are beyond its control. However, ORPC will use its best efforts to achieve its goals and, during the process, will involve State and local government, business and environmental officials, agencies, organizations and individuals in a collaborative, cooperative process. ORPC’s Next Steps:  Memorializing the relationship between the Mat-Su Borough and ORPC Alaska (executing the MOA)  Developing the oceanographic and engineering data for the Port Mackenzie site through research and sites studies  Completing the ORPC Alaska team of Alaska companies and individuals  Adapting the generic OCGen™ design to the site specific conditions  Meeting with the environmental community, including state agencies, organizations and individuals, to discuss and obtain input and recommendations  Meeting with, and obtaining commitments from, State agencies and organizations, as well as private equity sources, who can provide funding for the prototype project  Develop and submit required permits for the prototype project ORPC Alaska looks forward to working with you to make tidal energy in Alaska a reality