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!"#$#%& (&%)*+, -..+&.$/#. 0$1")$2 3*+ (%$2& 41 5+*6&%)7 Cindy Thyfault, Founder and CEO Pacific 2012 International Maritime Conference Sustainable Maritime Fuels Sydney, Australia February 1, 2012

Aggregating capital

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Page 1: Aggregating capital

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3*+'(%$2&'41'5+*6&%)7

Cindy Thyfault, Founder and CEO

Pacific 2012 International Maritime Conference

Sustainable Maritime Fuels

Sydney, Australia

February 1, 2012

Page 2: Aggregating capital

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Page 4: Aggregating capital

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Page 5: Aggregating capital

<#$&'"*=-.#%&$*

Westar has assisted clients in obtaining over $680 Million in financing.!

Page 6: Aggregating capital

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•! State & Federally Charted Banks!

•! Investment Banks!•! Equity Providers!•! Family O"ces &

Hedge Funds!•! International

Development Banks!

•!Traditional & Investment Banks!

•!Venture Capital Companies!

•!Multinational Corporation!

•! Family O"ce & Hedge Funds!

•!Oil & Gas Companies!•! Food Production

Companies!•!Air Transport

Companies!•!Air, Land, & Water Fuel

Users!

•!Biofuels & Bioproducts!•!Renewable Power!•!Value-Added

Agriculture!•!Water Production &

Recycling!•! Smart Grid

Technologies!•! Sustainable Fiber

Production!•! Energy E"ciency

Technologies!•!Transformational

Technologies!

Technology

Providers &

Stakeholders

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Banking &

Finance

Stakeholders

Page 7: Aggregating capital

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Source: Kachan & Co. !

Page 8: Aggregating capital

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Source: Bloomberg New Energy Finance!

Page 9: Aggregating capital

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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!

Page 10: Aggregating capital

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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!

Page 11: Aggregating capital

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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!

Page 12: Aggregating capital

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•! Capital Cost of Commercial Facility

•! Long-term Sales Contracts

•! Long-term Supply Contracts

•! Scale-up Risk

•! ASTM Certification

•! Bank Syndication

•! Debt Interest Rate

Page 14: Aggregating capital

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Step One – Development

Phase!

Step Three – Lender & Government Approval!

Step Two – Evaluation Phase!

Tech.

Provider

Equity

Provider Offtake

Provider

Feedstock

Provider

Project

Site

Fuel

Cert.

Feasibility

Study

3rd Party

Eng.

Report

Gov’t

Assistant

App.

Lender’s

Analysis

Conditional

Commit.

Loan

Closing

Page 15: Aggregating capital

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Buildings Equipment

Trans.

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Accounts

Receivable

Working

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Page 16: Aggregating capital

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Carbon

Credits

Tax

Credits

Gov’t

Loan

Guarantee

Export-

Import

Financing

Grants

Dev.

Bank

Financing

Bank

Financing Cash

Bond

Financing

Page 17: Aggregating capital

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USDA 9003 Program Highlights:

•! 80% Loan Guarantee up to $125 million

•! Long-term financing up to 20 years

•! Non-recourse financing

•! Minimum of 20% equity contribution

•! Lender of record must hold 7.5% of loan

•! US and Foreign Ownership both qualify

Page 18: Aggregating capital

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