Verdicorp Organic Rankine Cycle Turbine Introduction ©Verdicorp, Inc.

Executive Summary What is an Organic Rankine Cycle Turbine Verdicorp History & Development The early years: Manufacturing & Multistack Developing the platform: Turbocor and Danfoss Turbocor Creating an ORC Turbine: Verdicorp The Product Verdicorp Organic Rankine Cycle Turbine The Markets Waste Heat Recovery Geothermal Solar Thermal Biomass ©Verdicorp, Inc.

What is an Organic Rankine Cycle Turbine? The Process A high molecular mass fluid (Honeywell Genetron R245fa) is evaporated (boiled) to produce vapor (gas) at high pressure (1). The high pressure gas is expanded through the Verdicorp Turbo Generator turbine, converting it into kinetic energy (in the form of rotation). A high efficiency, high speed permanent magnet generator connected to the turbine wheel converts the rotational kinetic energy into electrical energy. Once the gas has expanded it flows into a condenser, where heat is rejected and it condenses back into liquid state The liquid is then pumped back to high pressure The liquid passes through the liquid heater and evaporator where it becomes a high pressure gas and starts the cycle over again (1) 1 ©Verdicorp, Inc.

Verdicorp History & Development The Early Years: Manufacturing & Multistack 1970’s: Verdicorp founder & CEO, Mr Ron Conry operates a air conditioning service and repair business in Melbourne, Australia At a clients request, Ron manufactures a replacement compressor wheel for their chiller, offering significant cost and time saving over the OEM replacement part. The idea for a modular chiller, that can be transported in a goods lift and assembled onsite is hatched. 1980’s: The modular chiller concept is developed further and Multistack Chillers is the result. Multistack grows to have multiple international manufacturing sites and sales agencies, by the late 80’s Multistack is ordering over 30,000 compressors per year. 1990’s: Ron Conry leaves Multistack to develop an oil free, high speed, magnetic bearing refrigeration compressor – Turbocor is born. ©Verdicorp, Inc.

Verdicorp History & Development Turbocor and Danfoss Turbocor 1992: Ron Conry leaves Multistack to develop an oil free, high speed, magnetic bearing refrigeration compressor – Turbocor is born. 1999: After the initial development of the Turbocor compressor is undertaken in Melbourne, Australia. The offer of significant funding from the Quebec (Canada) government to commercialize the product in Canada, Turbocor, along with many of the Melbourne based employees, moves to Canada! 2001: The first complete chiller with a Turbocor compressor is sold in California. 2004: Danfoss purchase 50% of Turbocor and forms the JV company, Danfoss Turbocor. 2007: Danfoss Turbocor relocate manufacturing to a brand new, state of the art manufacturing facility in Tallahassee, Florida. 2009: Ron Conry licenses all the non-refrigeration uses of the Turbocor technology platform from Danfoss Turbocor and Verdicorp is born. 2013: Danfoss purchase the remaining 50% of Danfoss Turbocor and it becomes a wholly owned subsidiary in the Danfoss Commercial Compressor division. ©Verdicorp, Inc.

Verdicorp History & Development 2009: Ron Conry licenses all the non-refrigeration uses of the Turbocor platform from Danfoss Turbocor and Verdicorp is born. Verdicorp focus on developing two main applications for the advanced Turbocor magnetic bearing platform Organic Rankine Cycle Turbines Waste water blowers 2011: First Verdicorp Turbo Expanders are supplied to a large industrial partner in Germany. They use the Verdicorp Turbo Expander as the basis for their Organic Rankine Cycle Turbine development. Over dozens of systems are installed on the back of bio-gas power plants. 2011: University of Queensland order a custom containerized ORC package for their Geothermal Centre of Excellence. 2012: Design of Verdicorp’s own complete commercial Organic Rankine Cycle Turbine product range begins. 2013: The first four commercial Verdicorp ORC Turbines are being produced at the Smardt Chiller manufacturing plant in Bayswater, Victoria, Australia. ©Verdicorp, Inc.

The Product Verdicorp Organic Rankine Cycle Turbine ©Verdicorp, Inc.

The Product Verdicorp Turbo Expander – Shares most components with the Turbocor Refrigerant Compressor: What makes them different? Magnetic bearings provide Near frictionless operation Extremely smooth & quiet (72dBA) – even at 42,000 RPM Oil free systems – improve efficiency & reliability Liquid refrigerant cooling enables Compact electronics Light-weight highly integrated assembly Low thermal stress 50% smaller & 80% lighter than traditional designs Single rotating assembly = simplicity – reliability – long life ©Verdicorp, Inc.

The Product : Award Winning Technology United States EPA Climate Protection Award J&E Hall Medal for Ron Conry Danfoss Turbocor is certified: ISO 9001:2000 ASHRAE / AHR Energy Innovation Award Canadian Energy Efficiency Award Frost & Sullivan for Compressor Technology Leadership ©Verdicorp, Inc.

The Product : Economies of Scale There are over 40,000 Turbocor modules operating throughout the world. Every month, hundreds of chillers from McQUAY; SMARDT; PowerPax and others are built and shipped with Turbocor compressors. High volume production of Turbocor makes the most advanced technologies economically viable for the Verdicorp turbo generator. ©Verdicorp, Inc.

The Product Verdicorp is leveraging the PowerPax & SMARDT chiller business to build the Verdicorp ORC systems: Heat exchangers Piping Framework Electrical and electronic components Manufacturing facilities ©Verdicorp, Inc.

The Product Verdicorp pre-packaged ORC systems: Modular construction Scalable Turbo-generator Evaporator & Condensor Pump Controls Power Electronics Water Cooled: 20 to 515 kW Air Cooled: 20-175 kW ©Verdicorp, Inc.

Exhaust and Jacket Heat Engine ORC Unit Exhaust and Jacket Heat ©Verdicorp, Inc.

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Water Cooled ORC ©Verdicorp, Inc.

Standard ORC Turbo Generator Inlet Valve – Electro Pneumatic Bypass Valve – Electro Pneumatic Bypass Line goes to expander outlet Heat Exchanger Section Liquid Pump Thermal Pipe Connections Line and Input Reactor Load Bank High Power Box HMI Control Box ©Verdicorp, Inc.

Water Cooled Condenser ©Verdicorp, Inc.

Standard ORC 1780mm (70.0”) 1276mm (50.25”) 1740mm (68.5”) ©Verdicorp, Inc.

Casey Unit 2513mm (99.0”) 1276mm (50.25”) 1740mm (68.5”) ©Verdicorp, Inc.

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PLACE HOLDER FOR VIDEO SLIDE ©Verdicorp, Inc.

The Markets Geographic Focus: Australia, Asia & Europe Select regions of Americas High electric prices Carbon markets Government incentives Cultural bias towards environmental stewardship ©Verdicorp, Inc.

The Markets Waste Heat Recovery Geothermal Solar Thermal Biomass Internal Combustion Engines & turbines Industrial Process Geothermal Low Enthalpy Well Head Small Scale Solar Thermal Biomass ©Verdicorp, Inc.

The Markets Waste Heat Recovery Internal Combustion Engines & turbines Recover thermal energy from exhaust gas (HT) and jacket water (LT) Suitable for Engines 600kW+ Suitable for engines using Natural Gas, Bio-Gas, Syngas & Diesel fuels Primarily aimed at electrical generators Can also be used in mechanical drive (i.e. gas compression) and propulsion applications ©Verdicorp, Inc.

The Markets Waste Heat Recovery Internal Combustion Engines & turbines Recover thermal energy from exhaust gas (HT) and jacket water (LT) Suitable for Engines 300kW+ Suitable for engines using Natural Gas, Bio-Gas, Syngas & Diesel fuels Primarily aimed at electrical generators Can also be used in mechanical drive (i.e. gas compression) and propulsion applications ©Verdicorp, Inc.

The Markets Waste Heat Recovery Industrial Process Glass Furnaces Cement Plants Steel & Aluminum Smelters Oil Refineries & Polymer Plants Aluminum Extrusion Kilns Saw Mills ©Verdicorp, Inc.

The Markets Geothermal Low Enthalpy Well Head Solutions Small Scale Brine and/or Steam Existing wells no longer producing high pressure steam Well Head Solutions Generate power as soon as the first wells are drilled Generate power from test wells Small Scale Mining Remote Communities Islands ©Verdicorp, Inc.

The Markets Solar Thermal Operates at 110-150°C input Does not require parabolic trough collectors Thermal storage options available Solar thermal hybrid with existing heat source ©Verdicorp, Inc.

The Markets Biomass ©Verdicorp, Inc.

Biomass Furnace BIOMASS FURNACE OPTIONAL LOW TEMPERATURE HEAT SOURCE FOR PRE-HEATING ©Verdicorp, Inc.

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