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enabling power Cell 2.0 - Oorja Delivers �

Fuel Cell 1.0 had Fuel Cell 2.0 Attribute Challenges Oorja Delivers

D Distribution: no ✓ Distribution: – 15 BG/Y Technology: D Storage: partial ✓ Storage: energy dense liquid D Fuel Cells: uneconomical ✓ Fuel cells: 50x more powerful

D Customers: repeat commercial D Customers: automotive and volume orders consumer electronics Market: DSize: $5 billion addressable today, D Size: large but technology didn’t going to $30+ billion with cost deliver reduction

D Gross margin: negative D Gross margin: Positive Economics: D Fuel Infrastructure: high cost D Fuel Infrastructure: low cost D Customer paybacks: multi year D Customer paybacks: 12 month

2 enabling power Delivering Commercial Product NOW

Product Year Description Advantages

• Refuels in less than 1 minute The OorjaPac™ Model 3 is a 1.5kW • Eliminates grid-charging of cell that operates as an 2008 battery on-board battery charger • Prolongs the life of the battery Model 3

ClClassic assc i Crossing C rossng i the th e Scalable Technology Chasm Product Architecture Delivers Strategy Watts to Kilowatts Serving Many Model 3 Shipping Today Applications

Model I Model 4 Shipping 2012 5 kW 15 kW

Shipping Future Stationary Motive Portable

3 enabling power Commercial Facts for OorjaPac Model 3

•Shipped 500+ Systems in 3 years •Backlog of 200+ Systems •Multiple Repeat Purchase Orders •AAnnualnnual Production P rod uc ti on Capacity C apac it y of o f 650 SystemsS ys t ems •Deployed 75 units under DOE’s Market Transformation Program

4 enabling power Current Solutions Expensive Infrastructure

Battery Swapping Station Rapid Charging Station

Equivalent Space for OorjaPac Refueling Rig

5 enabling power OorjaPac saves OpEx and CapEx

Parameters Conventional Rapid Charging of Fuel Charging of Lead Lead Acid Battery Cells Cells-OorjaPac Acid battery

Runtime between 4-5 hrs 3 hrs 8-12 hrs 15-16 hrs Charges or Refueling Total Downtime per 30-45 mins 20-30 mins 4-8 min 1-2 min Day for Battery Swap or Battery Charge or Refuel Battery Life 3-5 years 2-3 years NA 6-7 years

TCO per MHE per Year $7,600 $6,900 $6,500 $3,700 (7 Year life)

Infrastructure Cost $0.5 Million $0.2-0.5 Million $0.3-0.5 Million $15,000 (New installation)

6 enabling power Payback as Low as 5 Months

$8,000,000

$7,000,000 AAssssuummppttiioonnss:: 7755 uunniittss,, 22 sshhiifftt,, 77 yyeeaarr lliiffee $848,260 TToottaall OOppeerraattiioonnaall SSaavviinnggss:: $$33..22MM $6,000,000 $875,567 PPaayybbaacckk TTiimmee BBrroowwnn FFiieelldd:: 1199 mmoonnththss $5,000,000 PPaayybbaacckk TTiimmee GGrreeeenn FFiieelldd:: 55 mmoonnththss $1,374,181 $4,000,000

$3,000,000 $1,045,800 $3,180,975 $2,000,000 $714,861 $915,075 $429,432 $55,950 $477,146 $1,000,000 $190,859 $1,380,950 $767,750 $1,000,390 $0 Current Operation Hydrogen Operation OorjaPac Operation Capital Cost Labor for battery swapping / refuel Fuel costs Battery replacement and watering / Fuel Cell Maintenance

7 enabling power $5Billion Highly Qualified Market �

$5B total market consists of North 400,000 $6,000,000 American units that are electric, run $5,226,406 350,000 two shifts and have 2 year payback or better. Market grows to $12B by 2015 $5,000,000 300,000 as a result of cost reduction.

343,281 $4,000,000 250,000 ressable Market ($000s) . of Units)

200,000 $3,000,000 ($000s) Market dressable o. of Units) $2,843,750 164,531

150,000 $1,560,000 $2,000,000

100,000 81,250 97,500 Immediately Add Immediately $1,000,000 Immediately Ad Market Size (No Size Market Market Size (N 50,000 $822,656

- $- Oorja's Model III Model I Model IV Total Units Revenue Potential ($000s)

8 enabling power OorjaPac Extends the Battery Life

Without OorjaPac OorjaPac with 2 Year Old OorjaPac with 6 Year Battery Old Battery

Note: Data normalized to 1 wk (6 days)

9 enabling power Oorja’s Commercial Success

10 enabling power Oorja Dominates High-Power DMFC Evolution since 2006 �

2006-’07 2007-’08 2008-’09 2009-’11 System Power 0.5 kW 1.2 kW 1.5 kW 1.5 kW Output 4.5 kW Stack Life (Hrs) 500 1800 4500 8000 System Power 2.9 12.0 17.5 26.3 Density (W/liter) Technology • Methanol X-over • Stability • MEA Durability •Catalyst Loading Challenges • • •Water Neutral Addressed

11 enabling power Wide Breadth of Oorja’s DMFC Technology �

Samsung SFC Oorja Comments

Nominal Power (W) 25 250 1500 and 4500 18X higher Military mobile and and Backup Key Application portable portable Power Output current (A) 1 20 62.5 3X higher System Power 231(Model 3) 153 185 1.5X SFC Density (W-Hr/liter) 268 (Model 1) Stack Life (Hrs) ------5000 8000 1.6X

-MEA Design -Stack Design -System -System - Power Scalability Core Technology -Water Management integration integration -Wide Design Capability -Thermal Mgmt - System Integration

Oorja �

12 enabling power Oorja’s Total Addressable Market is $30 Billion

Off Grid Power Backup/UPS Transportation Portable

Auxiliary Range Extenders Power Units

< 1 kW •Off Grid Village •Emergency backup power •Soldier Power •Pumps

1-10 kW •Agriculture •Power substation • •BTS (Single&Dual) •Telecom Tower •Defense •2-3 Wheelers •Hybrid (FC+PV) •Mission critical units

•Agriculture •Commercial office 10-25 kW •Trucks & Buses •Fleet Vehicle (Public Transport)

13 enabling power Why Methanol? �

y Industrially produced from , ycoal (reducing NOx, SOx) y Ideal liquid energy from waste, y (GHG reduction) y Non-explosive, low flammability y Decreased dependence on oil y (Nobel Laureate Dr. George Olah)

y Rice straw Biomass y Corn silage y Switch grass

y Black liquor (pulp industry) Municipal/ y Lumber mills Landfill gas industrial Methanol y Glycerol waste y Demolition waste y Animal waste

y Natural gas y Coal y Hydrates

14 enabling power Oorja-A Compelling Story

Technologically Repeat Volume Financially Superior Sales Compelling

TractionTraction inin $5B$6B Breakeven 50x Power Market Gross Margins

Tier 1 Customer Scalable Capital Efficient Sales

Increasing Ubiquitous Fuel Best Payback Sales Volume

15 enabling power