This is an overview of Picarro's technology, business, customer base, and the looming Sub-Prime carbon market crisis we all face as the world puts in place markets designed for trading emissions and GHG offsets. Picarro is playing a key role in helping climate scientists better measure and understand GHG emissions at a local, regional and global level.

1. Carbon Subprime Crisis Michael R. Woelk President & CEO, Picarro, Inc.

2. Greenhouse gas emissions are increasing. The climate is changing causing hydrological patterns to shift. Nations are responding. A green economy is emerging. $Trillion carbon markets are coming. BUT: How will we know whether the legislative policies are working? What if the green economy doesn’t actually reduce emissions?

3. Measure then Trust “ I don’t see (subprime mortgage market troubles) imposing a serious problem . I think it’s going to be largely contained.” ... Henry Paulson “ There are no accounting issues , no trading issues, no reserve issues, no previously unknown problem issues.” ...Kenneth Lay

4. Financial Perspective Trillion $62.5 Trillion $36.6 Trillion

5. NOAA’s Current GHG Network

7. Measurement Anywhere - Anytime Ships Aircraft Telecom Buildings Fields Mountains Highways Cities Landfills Glaciers