RED | the new greenwww.recycled-energy.com 1 Energy and Science Technology and Engineering Challenges to Energy Recycling Sean Casten, President & CEO Recycled Energy Development, LLC October 12, 2007 Dartmouth Energy Symposium Hanover, NH

RED | the new greenwww.recycled-energy.com 2 Market opportunity for Energy Recycling US existing CHP: 84 GW Potential for additional CHP: >135 – 160 GW (link to biofuels) Potential for waste energy recov: >40 GW Total RE potential: >175 – 160 GW Compare: US installed power gen: 1,070 GW 10% of peak (MW) load, ~40% of MWh potential Would replace >300 coal plants. If deployed, would massively reduce both energy costs and GHG emissions Sources: US DOE, US EPA, RED Internal analyses

RED | the new greenwww.recycled-energy.com 3 Representative Waste Heat Recovery Project: Coke Energy 95 MW recovered from the exhaust of 268 coke ovens. Saves host ~$40 million/year, after capital recov + profit Annual CO 2 savings ~ annual CO 2 savings from all grid- connected solar worldwide Courtesy Primary Energy

RED | the new greenwww.recycled-energy.com 4 Technical Challenges: Engineering 40 GW RE potential is low; almost always opportunities to raise stack temperature, boost power output. Boosting potential requires close integration of power island and host process. Waste heat recovery from stacks often closely coupled with pollution control equipment: complex engineering to ensure no performance degradation and/or ensure that changes do not trigger re-permitting. Waste streams often include contaminants (low pH, particulate, condensables, etc.) that need to be factored into heat recovery. All require deep expertise in steam generation, distribution & power gen (rarely found in engineering schools)

RED | the new greenwww.recycled-energy.com 5 Technical Challenges: Science 40 GW based on economic screen Ignores all sites under 5 MW to minimize transaction costs Ignores all stacks <500 o F to minimize technology risk Adding in sites < 5 MW would add 155 GW to total potential Compare: total installed US nuclear fleet is 100 GW Very difficult to contemplate business model without drastically lower transaction costs. Business issue, but also tech issue if R&D can lower $/kW Recovering energy from all <500 o F stacks & cooling to 200 o F would add another 151 GW of thermal energy Hard to convert to power with a steam cycle, but opportunity for tech development in organic rankine cycles, thermovoltaics, stirling engines, others?

RED | the new greenwww.recycled-energy.com 6 Thank you.