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       Cindy Thyfault, Founder and CEO
 Pacific 2012 International Maritime Conference
           Sustainable Maritime Fuels
                Sydney, Australia
                February 1, 2012
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Westar has assisted clients in obtaining over $680 Million in
financing.!
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       Technology                   ?%9#$&)"$*@*              Banking &
       Providers &                    ?%A,$&"4*                Finance
      Stakeholders                 /&'B#6)-A#"$*             Stakeholders



•! Biofuels & Bioproducts!   •! Traditional &             •! State & Federally
•! Renewable Power!             Investment Banks!            Charted Banks!
•! Value-Added               •! Venture Capital           •! Investment Banks!
   Agriculture!                 Companies!                •! Equity Providers!
•! Water Production &        •! Multinational             •! Family O"ces &
   Recycling!                   Corporation!                 Hedge Funds!
•! Smart Grid                •! Family O"ce & Hedge       •! International
   Technologies!                Funds!                       Development
•! Sustainable Fiber         •! Oil & Gas Companies!         Banks!
   Production!               •! Food Production
•! Energy E"ciency              Companies!
   Technologies!             •! Air Transport
•! Transformational             Companies!
   Technologies!             •! Air, Land, & Water Fuel
                                Users!
C-)0'-*=-#'%&#26*?%9#$&D#%&$*




Source: Kachan & Co. !
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Source: Bloomberg New Energy Finance!
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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!
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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!
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Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”!
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•! Capital Cost of Commercial Facility
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•! Long-term Supply Contracts
•! Scale-up Risk
•! ASTM Certification
•! Bank Syndication
•! Debt Interest Rate
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   Step One – Development
   Phase!
 Tech.        Equity      Offtake      Feedstock    Project    Fuel
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   Step Two – Evaluation Phase!
                         3rd Party      Gov’t
           Feasibility                              Lender’s
                           Eng.        Assistant
             Study                                  Analysis
                          Report         App.

   Step Three – Lender & Government Approval!

                         Conditional       Loan
                          Commit.         Closing
Buildings                Equipment




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                                                    Infrastructure

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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
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