VRII /Slide 1 Renovare International, Inc. ELECTROLYTIC CELL FIELD EXPERIENCE — THE ROLE OF FIELD OPERATIONS AND FEEDBACK IN THE COMMERCIALIZATION OF THE RENOCELL ® NOVEMBER 1999

VRII /Slide 2 Renovare International, Inc.

VRII /Slide 3 Renovare International, Inc. TECHNOLOGY FOR THE NEW MILLENNIUM “RenoCell ® ” embodies a revolutionary electro- deposition technology that Renovare International, Inc. is commercializing and bringing to the market at a time when the demand for more robust, efficient and cost-effective water treatment equipment and systems is growing worldwide.

VRII /Slide 4 Renovare International, Inc. RENOCELL’S DEMONSTRATED CAPABILITIES Achieves metal recovery or effluent discharge limits with sub-mg/L performance Collects most metals as elements ready for sale or reuse Uses removable cathode cartridges for ease of operations and maintenance Improves cost effectiveness and reduces life cycle costs

VRII /Slide 5 Renovare International, Inc. TECHNOLOGY OVERVIEW

VRII /Slide 6 Renovare International, Inc. RENOCELL BACKGROUND Nine years in development by a world-class R&D organization Advanced electrochemical R&D focused on: –Current distribution– Potential distribution –Hydrodynamics– Cell geometry –Cell components– Cell performance Patented by EA Technology, Ltd. (EATL), Capenhurst UK

VRII /Slide 7 Renovare International, Inc. EATL’S ELECTROCHEMICAL CELL DEVELOPMENT DEM CELL General Purpose Synthesis, Waste Treatment Product (Licensee) 1984 CHEMELEC CELL Metal Recovery Effluent Streams Product (Licensee) 1981 CEER CELL Circuit Boards Recovery of Cu and Etchant Product (Licensee) 1981 ANODIC CORROSION Synthesis of Metal Salts Manufacture by EA Technology 1989 Manufacture by EA Technology (active, 1996) POROCELL Metal Recovery Effluent Streams Custom Product, Manufacture by EA Technology (active, 1996) DEVELOPMENTS Divided Tank Cell Rotating Cathode Cell DEM Cell MK II RENOCELL® 1997 LICENSE TO RENOVARE

VRII /Slide 8 Renovare International, Inc. ELECTRODEPOSITION OF METALS Recent developments involve improved, high surface area cathodes and metal oxide anodes where the cell performance depends on three mass transport processes: Convection in the bulk solution; mixing of the solution can increase the bulk transfer –Diffusion from the bulk solution to the electrode surface –Conversion of the adsorbed ion into metal which is restricted by the limiting current for a particular metal and solution chemistry and cannot be overcome by mixing or increasing the potential

VRII /Slide 9 Renovare International, Inc. 3-D ELECTRODEPOSITION OF METALS Improvements in applied electrolytical cells have focused on: –Obtaining high active cathode areas which allows compact design and efficient conversions even at low concentrations –High current efficiency to minimize energy usage –High current density to effect rapid metal removal –Intimate contact between electrolyte and electrodes to provide high mass transport –Ease of product removal –Safety and ease of control –Lower operating and capital costs

VRII /Slide 10 Renovare International, Inc. 3-D ELECTRODEPOSITION OF METALS Commonly-used 2-D cells, such as tank cells, do not achieve stringent treatment standards. Considerable effort directed towards using 3-D cells with packed, fluidized, and porous electrodes. Fluidization of carbon or glass particles increased mass transfer but loss of electrical contact and abrasion of particles during fluidization reduces the performance of these types of cells. Considerable efforts have been directed towards finding high surface area, stationary electrode materials. Testing indicates that low concentrations of metals can only be achieved with reasonable current efficiencies by using porous electrodes.

VRII /Slide 11 Renovare International, Inc. RENOCELL’S R&D Objectives in the early 1990’s were: –Enhancement in metal recovery performance over conventional cells by using porous cathode cells –Develop a “user friendly” product suitable for industrial applications Resulted in a high cathode surface utilization and excellent metal removal rates due to: –Even electrolyte flow through the entire area of the cathode –Electrical potential feed (and current flow) to the entire length and circumference of the cathode cylinder –Removal of the metals by incorporating the carbon cathode and support as a replaceable cartridge –Recovery of the metal by chemical or anodic redissolution or smelting

VRII /Slide 12 Renovare International, Inc. RENOCELL’S PATENTED ELECTROLYTIC CELL TECHNOLOGY

VRII /Slide 13 Renovare International, Inc. RESEARCH LEADS TO A CHANGING PARADIGM... For the first time, an electrolytic cell attains high metal removal rates with sub-mg/L performance. This performance is achieved through effective use of 3-D porous carbon cathodes. The 3-D cathode greatly enhances performance because the porous cathode has >500 times greater effective surface area than 2-D cathode of the same nominal size. This high surface area allows metal deposition at higher current efficiencies, lower current densities and higher deposition rates and thereby achieves lower final metal ion concentrations.

VRII /Slide 14 Renovare International, Inc. TECHNOLOGY PERFORMANCE

VRII /Slide 15 Renovare International, Inc. State of the art performance for treatment of process and wastewater containing heavy and precious metals Electrochemical deposition of many metals directly from aqueous solutions without the addition of reagents. Performance advantages based upon: –Porous high surface area cathode –Improved current and potential control enhance metal removal –Compact robust design –Technology evolution including divided cell 3-D CATHODE USE ALLOWS...

VRII /Slide 16 Renovare International, Inc. SUCCESSFULLY DEMONSTRATED METALS Cadmium Nickel Copper Cobalt Mercury Rhodium Platinum Gold Iron Lead Osmium Palladium Ruthenium Silver Tin Zinc

VRII /Slide 17 Renovare International, Inc. RENOCELL TESTING AND OPERATING PERFORMANCE* *All tests on 2.5 liter volumes using a 0.015m 2 laboratory RenoCell

VRII /Slide 18 Renovare International, Inc. RENOCELL TESTING AND OPERATING PERFORMANCE* (Continued) *All tests on 2.5 liter volumes using a 0.015m 2 laboratory RenoCell

VRII /Slide 19 Renovare International, Inc. COPPER RECOVERY FROM DILUTE PLATING BATH

VRII /Slide 20 Renovare International, Inc. ELECTROLYTIC CELL TREATMENT COMPARISON

VRII /Slide 21 Renovare International, Inc. ELECTROLYTIC CELL OPERATING RANGES

VRII /Slide 22 Renovare International, Inc. TECHNOLOGY COMMERCIALIZATION

VRII /Slide 23 Renovare International, Inc. RENOCELL COMMERCIALIZATION STRATEGY Since the principles of electrodeposition are the same for all electrochemical cells, Renovare’s strategy is to “engineer and apply” RenoCell’s patented, 3-D technology to take advantage of its substantially enhanced performance. This will allow Renovare to meet its goals of establishing RenoCell as the new standard of performance and economics in heavy and precious metal recovery and effluent treatment applications.

VRII /Slide 24 Renovare International, Inc. PRODUCT DEVELOPMENT Products are market-driven and reflect the need for world-class design,“user-friendliness” and ease of implementation across a wide range of industrial applications. Renovare uses a seamless outsourcing approach or product design and manufacturing, resulting in rapid development, quicker time-to-market, and lower cost with reduced risks.

VRII /Slide 25 Renovare International, Inc. RENOCELL PRODUCT DEVELOPMENT Cell Design Working Electrode Designs Counter Electrode Design “Divided” Cell Operations

VRII /Slide 26 Renovare International, Inc. MAJOR FEATURES AND CAPABILITIES Porous carbon element cathode –Greatly increased deposition surface area –High metal extraction rates –Three to ten times more energy efficient –Effective at concentrations down to 1 mg/L and below Metal deposits plated on carbon element Replaceable cathode cartridges –Easy metal removal –Quick and easy cathode replacement –Low operating and manpower requirements

VRII /Slide 27 Renovare International, Inc. Compact, robust design –Increased reliability in industrial environments –Very small footprint –Capable of being wall mounted Industry-standard components Optional divided cell operations –Allows treatment of anodically-sensitive solutions MAJOR FEATURES AND CAPABILITIES (Continued)

VRII /Slide 28 Renovare International, Inc. PRE-PRODUCTION APPLICATIONS AND INSTALLATIONS

VRII /Slide 29 Renovare International, Inc. PRE-PRODUCTION APPLICATIONS AND INSTALLATIONS (Continued)

VRII /Slide 30 Renovare International, Inc. BASIS FOR CELL DESIGN CHANGES Improve Performance Improve Cell Reliability Reduce Maintenance Costs Reflect Lessons Learned in the Field Reduce Production Cost

VRII /Slide 31 Renovare International, Inc. HOUSING DESIGN CHANGES Hinged Swing Bolts and Handles Larger Diameter Tapped Pipe Holes for Fluid Flow Dual Cathode Posts Cathode Post to Feeder Jam Nut Connection Straight Cathode Feeder Strips Removable Base Plate CATHODE DESIGN CHANGES

VRII /Slide 32 Renovare International, Inc. ANODE DESIGN CHANGES Feeder Posts through Either Lid DIVIDER MEMBRANE DESIGN CHANGES Tapered Membrane Flanges With O-rings Dual Wall Membrane Divide

VRII /Slide 33 Renovare International, Inc. NEW PRODUCT DESIGN FEATURES FOR RENOCELL Top lid easily removable All electrical and fluid transfer connections now confined to top and bottom lids Current feeder post seals now use O-ring Dual current feeder posts for both cathode and anode Anode can be mounted with current feeder posts exiting either the top or bottom lids Catholyte inlet and outlet connections are now both US 3/4 inch (ISO 25mm) female pipe thread connections Anolyte inlet and outlet connections are now both US 1/2 inch (ISO 20mm) female pipe thread connections Bottom lid insert is easily removable FOR CELL CLEANING Divider assembly allows membrane replacement

VRII /Slide 34 Renovare International, Inc. RENOCELL SUPPORTS WASTE MINIMIZATION RenoCell technology focuses on waste minimization and metal recovery in the complex and diverse world of metal finishing operations. Major considerations include: –Different types and concentrations of metals, concentrates and rinses –Variations in waste water volumes –Increasing life cycle costs of treatment –More stringent effluent discharge limits

VRII /Slide 35 Renovare International, Inc. PRINTED WIRING BOARD (PWB) OPERATIONS PWB manufacturing are complex operations with over 50 different process steps Utilizes variety of metal conductors including: –Copper– Nickel –Silver– Tin –Tin/Lead– Gold Six to ten major PWB process lines including: –Pattern Plate Acid Copper and Tin/Lead Plating –Nickel/Gold Tab Plating

VRII /Slide 36 Renovare International, Inc. PWB PATTERN PLATE ACID Cu AND TIN/LEAD PLATING LINE

VRII /Slide 37 Renovare International, Inc. PWB Pattern Plate Acid Cu and Tin/Lead Plating Line Plating Line Assumptions: 100 panels/hour drag-out ratio 6 L water/rinse with 12 rinses/hour Line operates 500 hours/month

VRII /Slide 38 Renovare International, Inc. Typical Cost Comparison for Cu Removal from PWB Shop Rinse Waters 40 PPM copper removal to 1 PPM copper Sludge management (including dewatering, transportation and treatment) is $350/ton Ion exchange spent resin is assumed to be treated on site Based on: Ion Exchange Treatment RenoCell

VRII /Slide 39 Renovare International, Inc. RENOCELL BENEFITS TO PWB APPLICATIONS RenoCell provides PWB manufacturers with several major benefits: –Virtual elimination of all metal-bearing hazardous sludges, saving over 40% in overall treatment costs –Total operational cost savings of 70% over conventional treatment methods –Lower initial capital costs with faster pay back periods (less than 2 years) –Reduced wastewater loading on existing waste treatment facilities –Conformance with national and local discharge compliance standards

VRII /Slide 40 Renovare International, Inc. IN SUMMARY RenoCell is the next generation of process and waste water metal ion removal and metal reclamation treatment equipment. Renovare’s RenoCell product delivers advanced, patented three-dimensional electrodeposition technology incorporated in a compact, robust cell design. The principles of electrodeposition is the same for all electrochemical cells. However, simply put.… “RenoCell ® technology works substantially better.”