OpenHydro specializes in the design and deployment of open-centre turbines for tidal energy, holding over 30 patents and focusing on simplicity and robustness for marine environments. The company is engaged in several commercial projects globally, including collaborations with EDF and Nova Scotia Power, with plans to expand its operations and reduce costs to levels comparable with offshore wind energy. Founded in 2004, OpenHydro has secured €80 million in funding and aims to develop cost-effective technologies for tidal turbine installation and operation.

1. OpenHydro September 2011 © OpenHydro Group Limited 2011 | Confidential | James Ives

2. Technology Open-Centre Turbine The key to the Open-Centre Turbine lies in the simplicity of design. If a turbine is to survive in the marine environment it is essential that it be both simple and robust. OpenHydro owns the worldwide rights to the technology; portfolio of over 30 secured or pending patents.

3. Technology

4. European Marine Energy Centre (EMEC) Focal point of OpenHydro's turbine Research & Development. Technology

5. Technology Turbine Testing Testing performed at European Marine Energy Centre (EMEC) in Orkney off the coast of northern Scotland. No ‘soft option’ with some of Europe's strongest tides (8.5 knots). For commercial deployments, OpenHydro do not regard piled structures as viable. OpenHydro’s Turbine Research Structure

6. Technology

7. Technology Subsea Installation Our experience has shown us that the appropriate equipment for installing tidal turbines does not exist in the general marine market. This new deployment method turns a difficult and lengthy project of many months into a quick and cost-efficient single day operation. A cost effective deployment method is essential for developing commercial farms .

8. Commercial Developments Group Structure OpenHydro Group Ltd is organised into two principal operating groups:

9. EDF Électricité De France (EDF) Installation of 4 x 16m Open-Centre Turbines for EDF in Brittany (2011/12).

10. EDF Paimpol-Bréhat Project The EDF Paimpol-Bréhat project will see OpenHydro initially install a single 16m turbine rated at 2MW in 2011 followed by an array of grid connected units in 2012. EDF

11. EDF

12. EDF

13. EDF

14. EDF

15. EDF

16. EDF

17. EDF

18. EDF

19. SnoPUD SnoPUD Installation of 2 x Open-Centre Turbines in the Puget Sound, Washington State.

20. NSPI Nova Scotia Power Inc (NSPI) Ongoing partnership with Emera / Nova Scotia Power in the Bay of Fundy.

21. ARE Alderney Renewable Energy (ARE) Partnership with ARE for development of Alderney site with 3GW potential.

22. EDF EN / DCNS EDF Energies Nouvelles / DCNS Development of a tidal farm in France in partnership with EDF EN/DCNS.

23. SSE Renewables SSE Renewables Awarded license in UK for 200MW joint venture with SSE Renewables (Airtricity).

24. Bord Gáis Bord Gáis Joint venture targeting the development of a 100MW tidal farm in Irish waters.

25. Commercial Developments Global Resource An industry estimated to be worth €100bn - €200bn in equipment sales.

26. OpenHydro Company Background OpenHydro was formed in 2004 following the acquisition of the world technology rights to the Open-Centre Turbine. Experienced Board and Management with relevant engineering and commercial experience. OpenHydro’s team is currently 60 and growing.

27. OpenHydro OpenHydro Team OpenHydro has targeted the recruitment of exceptional individuals from international organisations with transferable skills.

28. OpenHydro Cost of Energy OpenHydro are targeting a cost of energy equivalent to offshore wind. OpenHydro has secured very positive experience in reduction in capital costs from the EDF project. Economies of scale will drive these down to onshore wind levels. OpenHydro’s Turbine Research Structure

29. OpenHydro Funding OpenHydro has secured €80 million in funding since incorporation. In 2011 DCNS, a French Marine Industrial, secured an 8% stake. DCNS have provided industrial support to the EDF project. OpenHydro will raise further finance in 2012. OpenHydro’s Turbine Research Structure

30. Questions © OpenHydro Group Limited 2011 | Confidential | James Ives