1. Renewable Power from Poultry Litter Presentation
by Eric Jenkins
VP Commercial Development, Fibrowatt LLC
February 2007

2. Outline What we do How we do it How to structure projects
Why it is worth doing

3. 1. Fibrowatt has commissioned America’s first Poultry Litter Fuelled Power Plant3

4. The 55MW Fibrominn Plant
Commissioning began in May 2007 4

5. Poultry Litter Fueled Power Plants
Generating renewable electricity from poultry litter
Well proven technology (14 year operating record in the UK)
Carbon neutral
Improves and protects water resources
Improves sustainability and biosecurity for poultry farmers
Recovering value from the nutrients by selling the ash fertilizer
Biomass power has an important place in rural communities

6. Who is Fibrowatt?
Fibrowatt LLC, based in PA
The founders built the world’s first three poultry litter fuelled power plants in the UK
Fibrowatt’s Minnesota plant is currently being commissioned
A 55 megawatt, 700,000 ton/year turkey litter plant
The first in the US
Development work began 1999
Financed with $202m of investment grade rated debt in December 2004
Commercial Operations will commence in August 2007
50MW Projects under development in North Carolina, Arkansas, Mississippi and Maryland

7. 2. How Power From Poultry Litter Works7

8. Poultry Houses

9. Covered Conveyor

10. Loading the Truck

11. Tarpaulin Cover

12. Truck on Scales

13. Fuel Delivery

14. Trucks Unloading

15. Thetford Fuel Hall

16. Truck Cleaning

17. How it Works

18. Inside the
Boiler

19. 3. How to Jump-Start Projects19

20. How Long Does It Take? 2. Construction phase 2 – 3 years
1. Development phase years
2. Construction phase 2 – 3 years
TOTAL 4 – 7 YEARS 20

21. What Does It Cost? 2. Construction phase: $150-200M
1. Development phase: $3-10M
2. Construction phase: $ M 21

22. What are the key requirements?
1. Fuel – adequate fuel already available
2. Sites – multiple sites already offered
3. Electricity contracts – federal incentives needed 22

23. Facilitating the Projects
1.9 ¢/kWh Production Tax Credit (§45)
To level the playing field
Poultry Litter should get the same incentives as Wind
Placed-in-Service Deadline needs to be 7-10 years out
Our plants take 2-4 years to develop, design, permit & finance
Construction takes at least a further 2½ years
Option to select 30% Investment Tax Credit
Same incentive as Solar Power
Ability to utilize tax-exempt bonds 23

24. 4. Why it is worth doing 24

25. Multiple Benefits of our Plants
Renewable Energy
Producing green, carbon-neutral power from domestic resources
750MW of identifiable projects
Pollution Reduction
Reducing groundwater contamination from excess animal waste
Agricultural Sustainability
Rural economic development
Enabling the poultry industry to maintain sustainable growth
Enhancing bio-security for poultry farmers
Supporting the Family Farmer 25

28. Challenge & Opportunity
Renewable Power from Poultry Litter is (currently) more expensive than Coal
There is significant potential
The poultry industry is concentrated in Southern States, which have little wind resource
A viable renewable energy option for Southern States
Projects Currently Planned
North Carolina
3 plants
155MW
Arkansas
2 plants
110MW
Georgia
Alabama
105MW
Mississippi
1 plant
55MW
Maryland
45MW
Other States
4 plants
160MW
Total
15 plants
750MW 28

29. The Carbon Cycle CARBON (CO2) ENERGY Flue Gases BEDDING MANURE
& FEED
MANURE
ELECTRICITY
BIOMASS
Ash
NUTRIENTS