!Reinvesting in Clean

Technologies !

!A Divestment Proposal for Brad Benson, President

of the University of Colorado !

!!!!!!

Contributors: A. Vasili Chevalier-Kousiotas

Dillon Jacobs Stephen Shenfield

Erik Blomquist

!Statement of Purpose:

To propose an effective reinvestment strategy for the CU Foundation’s assets in Oil and Natural Gas into green companies in Colorado and around the World thus promoting the University of Colorado’s commitment to the environment and sustainable practices.

!In our proposal, we list companies and investors that promote green technologies. Some are startup companies requiring venture capital investments to promote their cutting-edge technology that show the potential to be leaders in the industry in the years to come. Others, are traded on the NYSE and through the purchase of their stocks, we believe they will prove to be great investments based on the past record and trends along with their prospects and potential for the future. Lastly, there are a couple of banks and investment agencies that promote these technologies and some will be excellent investments based on their current clientele. We highly encourage the board of the CU Foundation to examine these investments as potential clients as opposed to the current oil and natural gas investments. !

!Table of Contents

!Solar Industry 1

Wind Industry 7

Clean Technology & Key Investors 13

Solar Industry !

First Solar, Inc.

!Website: www.firstsolar.com

Location: 350 West Washington St. Tempe, AZ 85281 Phone: 602-414-9315 !Stock Information: NASDAQ: FSLR 52 Week High: $74.84 52 Week Low: $25.66 Market Cap: $6.83B !Company Description: First Solar is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions that are truly Taking Energy Forward. With over 8 gigawatts (GW) installed worldwide, their proven solar solutions diversify the energy portfolio and reduce the risk of fuel-price volatility while delivering a levelized cost of electricity (LCOE) that is cost competitive with fossil fuels today. By integrating technologies and expertise across the entire solar value chain, First Solar delivers bankable PV energy solutions that maximize the value of our customers’ PV investment while minimizing their risk. Having developed, financed, engineered, constructed, and operating some of the world’s largest and most successful PV power plants in existence, First Solar has become the partner of choice for customers globally.

!Business Strategy/Competitive Advantages/Market Opportunity: First Solar primarily operates out of two divisions. Their primary business is in the PV division, which builds and maintains solar power plants that are used by industrial companies, utility companies, and commercial industry companies. This accounts for about 67% of First Solar’s revenue. The components and systems division accounts for

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the remaining revenue, which includes individual solar panels for small industrial companies and individuals. First Solar has been the most successful solar energy company to date, mostly due to their solar farm production. In 2013, First Solar acquired the start up solar company TetraSun. This acquisition will allow TetraSun to access the crystalline solar cell technology owned by First Solar, which they can use in the production of rooftop solar cells. While First Solar has been and will continue to be a leader in solar farm energy generation, they now have the ability to emerge as a leader in the rapidly growing rooftop solar panel market. !!JinkoSolar

!Website: www.jinkosolar.com

Location: Worldwide

Stock Information: 52 Week High: $37.98 52 Week Low: $3.96 !Key Investor: China Development Bank $494mn !Company Description: JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing, vertically-integrated solar power product manufacturer with low-cost operations based in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, U.S. Queensland, Australia, Ontario, Canada, Bologna, Italy, Montpellier, France and Zug. Switzerland. !Since our inception as a wafer supplier in June 2006, JinkoSolar has become a leading solar module manufacturer and supplier by moving rapidly downstream and vertically integrating the critical stages of the solar power product value chain. As of June 30, 2012, we had fully integrated annual production capacity of approximately 1.2GW each for silicon wafers,solar cells and modules. We are going to remain an integrated capacity of 1.2GW by the end of 2012.By focusing on efficient operational

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management and continuous technological innovation, we have been able to deliver sustainable high-quality solar modules to customers across the globe, including Germany, Italy, Belgium, Spain, United States, France, and China.As we continue to leverage our fully integrated production chain, we will continue to seek out opportunities in emerging markets to increase our global brand awareness. !We strive to increase shareholder value and provide attractive long term returns to our shareholders. In order to achieve our goal of becoming a leading vertically integrated supplier of solar power products, we intend to grow our market share, further diversify our customer base and expand geographically. Meanwhile, we will continue to dedicate our efforts to providing customers with better solar products and services through constant improvement and innovation. !!Juwi Solar

!Website: juwisolar.com Location: 1805 29th St. Boulder, CO 80301 Phone: 303-440-7430 !Company Description: Juwi Solar Inc. (JSI), based in Boulder, Colorado, is a developer and turnkey engineering, procurement and construction (“EPC”) contractor of solar power plants throughout North America, with a focus on projects 1 megawatt or larger. The majority shareholder of JSI is Juwi Holding AG, which ranks among Europe’s leading renewable energy companies. (The balance of JSI’s shareholders are U.S. individuals or companies.) Juwi develops, builds and operates large-scale solar, wind and biomass energy projects. With approximately 600 employees in Juwi’s solar group, the company has been involved in the development, design, construction and operation of more than 1,500 photovoltaic projects globally, totaling more than 1GW of operating capacity. !

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Business Strategy/Competitive Advantages/Market Opportunity: Juwi Solar is a self-proclaimed leader in Large-Scale Solar. They focus on large scale projects that yield more than 1MW. What sets them apart is their presence not only in the solar industry, but in the wind and biomass industries as well. Their latest project, Badger 1 Solar, is set to begin commercial operation in Q4 of 2014. This design includes approximately 65,000 crystalline-silicon solar panels on a tracking racking system on a 100-acre site in Maricopa County, Arizona. This project is expected to produce approximately 43,000 MWh annually. This will mark the 10th active project operated by Juwi Solar. Just this month, Juwi announced plans to build and operate a 10 MW solar plant in El Paso, TX for regional utility El Paso Electric Co. !!Lucintech Inc.

!Website: www.lucintech.com Location: Toledo, OH Phone: 419-469-8662 !Last 12 months revenue: $600,000 (grants)

Financing sought: $1,600,000 (A2)

Outside equity investment to date: $950,000

Status: A2 round sought by end 2014 Q1 !Company Description: Lucintech Inc. is the developer of technology for a semitransparent thin-film photovoltaic (PV) coating for windows that efficiently generates electricity while reducing solar heat loads. Our technology addresses two large and distinct markets, BIPV windows and auto PV sunroofs. Each constitutes an addressable market of $3-$4 B/yr. We have fabricated monolithically integrated prototypes up to 6” x 9” with 14 V output and are scaling up to 8 sq. ft. Lucintech is currently seeking investment of $1.6M to finish positioning for strategic partnerships and licensing. Business Strategy/Competitive Advantages/Market Opportunity:

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Lucintech will provide to strategic partners a technology package and know-how in support of our value-added, semitransparent PV coatings for glass. Our inorganic thin-film coating has high efficiency, attractive color options, excellent stability, low cost, and uses sputter deposition technology that is well-established in the glass industry. It provides compelling, value-added features with a natural fit to several window-glass products. The Lucintech semitransparent, thin-film PV coatings are based on CdTe, the most successful materials system for thin-film PV (commercialized by First Solar and others). Our process uses proprietary enhancements of magnetron sputtering to deposit the active PV layers onto existing low-e glass coatings with value-added costs of less than $0.50/W. !Lucintech’s BIPV coating, applied to an inner surface of a low-e sealed window, fully leverages the already-embedded cost of an insulating glass unit (IGU) with no need for additional glass or laminates. (Installed glass curtain walls typically cost ~$27/sq. ft.; the cost of adding Lucintech’s PV coating will be $4-$5/sq. ft.). Lucintech’s PV sunroof will generate power for electronics, battery charging, and ventilating the auto while parked. PV sunroofs qualify for special incentives in the European Union (Article 12 eco-innovation) and in the United States. (new CAFÉ standards). !List of Customers: In the BIPV sector (windows, atriums, skylights, greenhouses, glass curtain-wall high rises) our customers/strategic partners would come from the flat-glass or IGU supply chain, including NSG/Pilkington, Asahi, Guardian, Saint-Gobain, Cardinal, Andersen, OldCastle and others. In the automotive sunroof sector our customers/strategic partners will come from the sunroof supply chain, including Webasto, Inalfa, Pilkingron, Guardian, Asola, BHA, and others. !List of Competitors: No known competitors in transparent PV sunroofs. Nontransparent sunroof manufacturers include Guardian, Asola. BIPV window manufacturers/developers include Pythagoras, Schott, Trony, Masdar, G24i, Heliatek. (Lucintech provides major cost/benefit advantages over all.) !!

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SolarCity

!Website: solarcity.com

Location: 3055 Clearview Way San Mateo, CA 94402 Phone: 650-638-1028 !Stock Information: NASDAQ: SCTY 52 Week High: $88.35 52 Week Low: $18.00 Market Cap: $5.62B !Company Description: SolarCity is a national leader in clean energy services. We make clean energy available to homeowners, businesses, schools, non-profits and government organizations at a lower cost than they pay for energy generated by burning fossil fuels like coal, oil and natural gas. Our approach is to install systems to the highest engineering standards while making the switch simple for our customers. We've revolutionized the way energy is delivered by giving customers a cleaner, more affordable alternative to their monthly utility bill. !Business Strategy/Competitive Advantages/Market Opportunity: SolarCity has assembled one of the most experienced clean energy project design and installation teams in the world. The company serves thousands of customers in 14 states with 31 operations centers. SolarCity's customers include thousands of homeowners, more than 100 schools including Stanford University, government agencies such as the U.S. Armed Forces and Department of Homeland Security, and well-known corporate clients, including eBay, Intel and Walmart.

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Wind Industry !

!Argosy Wind Power

!Website: http://www.argosywind.com Location: Aurora, OH Phone: +1 440-252-2015 E-mail: info@argosywind.com

!Company Description: Argosy Wind Power is a global leader of wind turbine systems for Community Wind applications. With over a decade of experience designing and manufacturing wind turbines, Argosy Wind Power’s™ team deploys innovative and advanced technologies which are ordinarily only found in large mega-watt utility sized turbines. Our advanced, permanent magnet / direct drive, gearless, technologies not only radically improve the performance of our turbine systems but also drastically improve their reliability and decrease maintenance and repair problems. Visit the Argosy Wind turbine technology page to learn more about our wind power engineering & wind power designs.

Products & Technology: Our products “Best in Class” wind turbine systems deploy innovative engineering and advanced technologies. Your customers will know the difference. !Company & Management: Our company and management team has decades of business and engineering experience and is committed to excellence in engineering and manufacturing. You will know the difference. Training: Our company ensures our commitment to excellence by providing ongoing sales and technical training to Authorized Dealers and their personnel at our cost.

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Only Argosy™ certified technicians are authorized to provide service on our turbine systems. !!Boulder Wind Power

!Website: boulderwindpower.com

Location: 1812 Boxelder StreetLouisville, Colorado 80027, USA Email: info@boulderwindpower.comPhone: +1 303 630 1400 !Company Description: Boulder Wind Power’s products outperform iron-core generators – our air core generators are lighter, cost less, and deliver more electricity. We achieve this by utilizing a portfolio of key enabling technologies, as described more fully below. !AIR CORE ARCHITECTURE Lighter Design, Fewer Losses Two-sided rotor with surface-mounted magnets produces a constant flux distribution over the Printed Circuit Board stator Lack of attractive forces between the rotor and the stator eliminate core losses, and dramatically reduce bearing and structural requirements Magnetic field is not subjected to dynamics that result in cogging torque and structural modes in traditional iron-core generators !PRINTED CIRCUIT BOARD STATOR Unparalleled Reliability and Performance The lightweight and segmented printed circuit boards (PCB) are manufactured with proven industry-standard PCB processes providing exceptional conductor and insulation system uniformity

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Longer operating life and increased performance due to insulating materials that have similar coefficients of thermal expansion and that fully encapsulate and support the entire winding, including end-turns !ADVANCED ELECTROMAGNETICS Simple Steel Materials and Low Temperature Magnets Air core design eliminates the need for expensive electrical steel laminations, along with their associated eddy current and hysteretic losses Minimal heating of permanent magnets enables the use of low-temperature NdFeB magnets which have higher energy content, lower cost, and more stable supply chain than high-temperature magnets that contain Dysprosium or Terbium !FLUX FOCUSING MAGNETIC DESIGN Increased Air Gap Flux Density Patented method for shaping the magnetic field across the air gap Enables significant improvements in efficiency and power quality compared to traditional magnet designs !AIR GAP CONTROL SYSTEM Efficient Dynamics-Based Structural Design Applies localized “stiffness” near the air gap to maintain separation between the rotor and stator though various operational loads and accelerations Decreases generator costs by enabling lightweight structural designs !STRUCTURAL DESIGN Simple yet Robust, Easy to Manufacture Patented structural design reacts machine torque with low mass through efficient use of materials Assembled back-iron structure eliminates need for complex machining and separates magnetic circuit from structural support, allowing further optimization of the generator system !Key Investors: Molycorp & New Enterprise Associates !With offices in the U.S., Europe, and Japan, Molycorp, Inc. is the only rare earth oxide (REO) producer in the Western Hemisphere and the largest REO producer outside of

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China. In addition to its current production of rare earth oxides at its flagship rare earth mine and processing facility at Mountain Pass, California, the Company produces rare earth metals, rare earth alloys (such as neodymium-iron-boron and samarium-cobolt alloys) and rare metals such as niobium and tantalum. The rare earths and rare metals Molycorp produces are critical inputs in existing and emerging applications including: clean energy technologies, such as hybrid and electric vehicles and wind power turbines; multiple high-tech uses, including fiber optics, lasers and hard disk drives; numerous defense applications, such as guidance and control systems and global positioning systems; advanced water treatment technology for use in industrial, military and outdoor recreation applications; and other technologies. !New Enterprise Associates, Inc. (NEA) is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 165 portfolio company IPOs and more than 265 acquisitions. !!Deepwater Wind LLC

!Website: http://www.dwwind.com Location:Providence, RI Phone: 401.868.4228 Fax: 401.228.8004

!Company Description: Deepwater Wind believes that gaining energy independence is both a national priority and a practical, achievable goal. The winds off our eastern seaboard are strong, unlimited, and reliable, and can be harnessed using today’s proven technology.

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America will need all types of renewable, domestically generated energy in the coming years. But only offshore wind energy can be developed at a rate and scale required to bring about the change we need today. We are developing utility-scale wind farms in deep waters that will provide abundant clean energy — up to 1,000 megawatts or more at each wind farm. Just as important, these large wind farms will be generating power closest to where it’s needed most — in energy-constrained East Coast markets where power is commonly generated using fossil fuels and construction of new generation is difficult. In the process of developing and operating these wind farms, we will partner with state and local governments to foster economic development. The benefits of new jobs, clean energy, and reduced reliance on foreign energy sources will be seen by coastal communities — and the entire country. !An Industry Leader Deepwater Wind is the United States leader in development of renewable, offshore wind-power projects. The company is led by a distinguished Board of Directors and a veteran management team with extensive experience in developing renewable energy and marine projects in the U.S. Deepwater Wind won two competitive State solicitations to become the preferred offshore wind developer for both Rhode Island and New Jersey and also won the first ever competitive auction for offshore wind sites held by the U.S. government. The company is also actively planning offshore wind projects in New York and Massachusetts. !Investors: The Deepwater Wind team is funded by sophisticated energy investors who together manage or own more than $30 billion in assets. Our investors understand the nature of the industry and the crucial need for ramp-up time to create profitable, utility-scale, ocean-based wind power.

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Vestas Nacelles America, Inc.

!Website: http://www.vestas.com/ Location: 1500 E. Crown Prince Blvd. Brighton, CO 80603

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Phone: 303-655-5400 !Stock Information: NASDAQ: SCTY 52 Week High: $39.06 52 Week Low: $7.43 Market Cap: N/A !Company Description: Vestas Wind Systems is the largest manufacturer of wind turbines and systems in the world. Since 1979 the company has installed over 40,000 wind turbines in 65 countries with a total capacity of 38.3 GW.Wind systems get more cost-efficient as they grow in size and scale, making them ideal for large-scale installations; Vestas is one of the few manufacturers that makes turbines that produce as much as 3.0 MW. !Business Strategy/Competitive Advantages/Market Opportunity: Based in Denmark, Vestas has a strong arm in the European wind market, and is looking to the U.S., where legislation in favor of renewable energy sources has greatly expanded the market for wind, for its near term growth. With most of the long-term growth in energy demand expected to come from emerging markets in Asia, however, the company could be missing out on the opportunities in this region, though competitors like India's Suzlon might reduce the region's appeal. The strength of competitors GE in the U.S. and Gamesa in Spain have not stopped Vestas from claiming the two countries as its largest customers

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Clean Technology & Key Investors !!2GreenEnergy !"Bringing Together Clean Energy Investors with the Strongest Renewable Energy Investment Opportunities" !Website: 2greenenergy.com Location: Santa Ynez, CA 93460 805-691-9381 !Company Description: Experts in Business Strategy for New Technology We help innovators find the right industry positioning, avoid hyper-competitive, low-margin business scenarios, and launch clean energy businesses for maximum impact and profit. This often means developing strategies regarding IP protection, market research, public relations, business partners, manufacturing, technology licensing, and distribution – followed by a marketing strategy to generate demand and revenue. !!Avivid Water Technology LLC

!Location: 14399 Mead Street Longmont, CO 80503 Phone: 303-776-7000 avividtechnologies.com/ !Last 12 months revenue: $0

Financing sought: $950,000

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Outside equity investment to date: $500,000

Status: $100,000 / Start-up !Company Description: Avivid Water Technology LLC (AWT) is dedicated to preserving and enhancing the world’s water resources by offering a novel solution to cost-effectively clean contaminated water. In April 2013, AWT received patent approval for its TurboCoag technology and is now seeking capital for commercialization. This unique application of electrocoagulation gives AWT a competitive edge to other water purification technologies. !Business Strategy/Competitive Advantages/Market Opportunity: AWT has developed market penetration strategies segmented by demand, market size, ability to access, and technical requirements. Electrocoagulation (EC) systems work by passing contaminated liquids over electrically charged plates, creating a reaction that causes the contaminants to precipitate out in solid sludge form. EC technology produces 90% less sludge for disposal than competitive chemical treatments. In addition to eliminating the use of controversial chemicals, this reduction in sludge results in significant transportation cost savings. EC systems have had problems in the past due to the formation of an oxidation on the anode plate, which happens in a short amount of time, sometimes within hours, creating a costly maintenance issue. AWT’s TurboCoag (TC) system has totally eliminated that oxidation problem. In addition to the self-cleaning technology, TC has a smaller footprint with a lower capital expenditure requirement and requires less power. This enhanced TC combined with mobile trailers can scale the capacity to process water up to a flow of 400 GPM per trailer and significantly reduce the customer’s cost of cleaning contaminated water by as much as 50%. AWT is currently focused on scaling its prototype device to 25 GPM, securing early revenue in the acid mine drainage segment ($30 billion over the next 20 years), and establishing channel partners into treating oil field produced water ($4.3 billion per year). !List of Customers: AWT’s early stage target is acid mine water reclamation, estimated to be $20M annually from the currently identified potential client base. We have validated our penetration strategy with industry leaders such as AUC, Powertech, Stewart

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Environmental Consultants, New West Capital, RiskWise, and ARSG. AUC has provided a letter of intent identifying AWT as their preferred vendor after we manufacture our 25 GPM unit. The second stage target market is the oil and gas contaminated water market, estimated to be $25M annually from the currently identified potential client base. Strategic meetings with oil and gas industry service providers include Stewart Environmental Consultants, Produced Water Solutions, Noble Casing, Blue Water, and Lyntek, who have confirmed the market demand for TC technology and the significant cost-saving benefits to customers. To accelerate business development, AWT has joined Rocky Mountain Innosphere, an incubator located in Fort Collins, Colorado, and the Colorado Mining Association. !!List of Competitors: The largest EC competitors are Kaselco and Powell. Halliburton and Baker Hughes have proprietary EC technologies with a limited number of field installations to clean frack flow back water. Numerous others clean water using filtration (limits metal removal with high maintenance), evaporation (high power consumption), or chemicals (creates large amounts of sludge). Many others dispose of contaminated water by injecting it into underground storage wells (subject to EPA regulations). !Clean Energy Collective

!Website: www.easycleanenergy.com/default.aspx Location: Carbondale Office 401 Tree Farm Drive Carbondale, CO 81623 !Boulder Office 3005 Center Green Drive, #205 Boulder, CO 80301 !info@morecleanenergy.com Phone : 800.646.0323

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Fax : 970.692.2592 !Company Description: Clean Energy Collective (CEC) develops community-owned renewable energy solutions for electric utilities and their customers, including the country’s first community-owned solar arrays. With CEC, residential and commercial utility customers can own fully maintained solar panels in a local, centralized facility. CEC’s proprietary RemoteMeter® software credits customers for the clean power produced directly on their monthly electric bills. In one easy step, customers receive a positive financial payback and reduce pollution - without making any changes to their property. CEC community-owned solar arrays make local renewable energy easy and a smart financial decision for everyone. !Ener-G-Rotors

!Location: New York

Website: www.ener-g-rotors.com

Status: Startup/ Not Traded /In Process

Last 12 months revenue: $880,000 Financing sought: $6,000,000

Outside equity investment to date: $2,500,000

Key Investors: Department of Defense: $746,000 grant The New York State Energy Research and Development Authority (NYSERDA): $725,000 !Company Description: Ener-G-Rotors, Inc. is commercializing the ORCA™, a revolutionary appliance that economically converts low- temperature heat to carbon-free electricity for as little as 1.5¢ per kWh, representing a breakthrough in heat-to-power technologies. Ener-G-Rotors’ novel heat engine design economically generates electricity at the small scales and low temperatures that match customer waste heat in industrial processes,

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combined heat and power, stationary engines, and biogas applications, representing a serviceable available market of $38B for Ener-G-Rotors, in a larger market worth $211B. By deploying the ORCA™ solution, customers can lower energy costs, reduce their carbon footprint, and increase energy efficiency. !Business Strategy/Competitive Advantages/Market Opportunity: Ener-G-Rotors will assemble and sell ORCA systems until we reach sufficient product maturation to consider outside manufacturing. Our manufacturing effort is a low capital-intensive and highly scalable “assembly and test” operation, and we can manufacture up to 200 units per year in our current facility. We have already signed up a number of key distributors, and can rapidly expand to accommodate additional distributor and OEM opportunities based on market segment and geography while fielding an in-house sales force to work with Fortune 500 customers that will purchase multiple units for worldwide deployment. !Several companies target the waste heat market. Most of them only use turbines for higher-grade waste heat recovery in the megawatt size. Turbine-based systems smaller than 1 MW become too expensive to meet customer payback requirements. Competitors in our size- and temperature-range try to sell systems for $4/W to $7/W, which rarely meet those customer payback requirements. Our patented heat engine design is more efficient than existing technologies, and efficiency is a force multiplier that reduces costs and increases output, allowing us to sell products at half the cost of competitors. Because of our increased efficiency, we can offer a 50-kW system for $2/W or around $100,000, meeting customer paybacks while retaining great margins. Ener-G-Rotors changes the heat-to-electricity marketplace economics. !The total available market is over $200 billion worldwide. Four key markets have a serviceable available market of 384,500 units or $38 billion: industrial waste heat, stationary engine, CHP, and biogas markets. They represent the sweet spot for our initial product offering of an ORCA producing 50 kW on average. We can create systems that are economic for these customers and sell them with healthy margins. Our channel strategy is specific to each market segment. In industrial waste heat, we have already started working with engineering companies, energy efficiency companies, and utilities. In stationary engines and CHP, we anticipate an OEM strategy offering a retrofit or add-on product and have spoken with CHP engineering

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companies and distributors. In biogas, we have spoken with some distributors focused mostly in the EU. !!List of Customers: Nine Mile LLC, BPC Engineering, Harbec Plastics, Cascades Paper, St Gobain, ReEnergy, Saranac Brewers, Bates Troy, and Mohawk Paper List of Competitors: Electratherm, Orcan, Bosch, Conpower, GMK, and Durr !!Green Fuels Ltd

Website: www.greenfuels.co.uk Location: Stonehouse, Gloucestershire, UK Phone: +44 1453 828003 !Last 12 months revenue: $2,000,000

Financing sought: $6,000,000

Outside equity investment to date: None

Status: Trading limited company !

Company Description: Green Fuels Ltd is a leading manufacturer of decentralized bio-refineries for the production of biodiesel. This ability has been proven over the past decade with an installed customer base producing 1.25M liters of biodiesel per day. The company has won numerous industry awards, installed commercial bio-refineries on six continents, and, in January 2013, was granted a royal warrant for its long-term supply of sustainable biofuel to the UK royal family. The biofuels market is maturing, and Green Fuels’ customer base has moved from early adopters toward larger mainstream companies. With this transition, the company

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sees the opportunity to move from being primarily an equipment manufacturer to primarily a fuel producer. To guarantee feedstock supply, Green Fuels is partnering with large UCO producers to utilize their waste to generate a fuel to power both their logistics fleets and their distribution centers. In order to exploit this opportunity, the company requires funding to allow it to build, own, and operate closed-loop recycling facilities. These processing facilities will be co-located at food distribution centers, where fresh cooking oil is distributed to restaurants and used cooking oil is returned.

Business Strategy/Competitive Advantages/Market Opportunity: Green Fuels has already supplied equipment for use in closed-loop recycling projects for McDonald’s in Dubai, UAE, and Melbourne, Australia. Currently, the company has 28 commercial-scale modular biodiesel processing facilities operating on six continents. With this, Green Fuels has firmly established itself as the preferred equipment supplier to the McDonald’s biodiesel projects and is now in discussion with regards to a proposed roll-out in Asia, USA, Europe, Latin America, and South Africa. This model is easily replicated within other fast food chains, such as Burger King and KFC, providing huge cost and carbon savings. The potential market is huge, with McDonald’s alone producing approximately 100M liters of UCO globally. Other fast food chains have similar coverage, and the modular approach is also suited to military installations, reducing fossil fuel distribution to operational bases. Green Fuels is working with the regional VPs from Logistics Company and the sustainable supply chain directors from McDonald’s to initially install regional proof-of-concept projects that can then be replicated. By using proven, standardized equipment and procedures that meet the strict regulatory regimes at food distribution centers and with location independent modules, this cookie-cutter approach fits with the fundamental business strategy of the main fast food chains. By installing equipment at the distribution hubs, the transport of waste and fuel is minimized, providing further cost and environmental savings. The second stage of the roll-out will be to take the same concept to all the other food logistics businesses and large producers of UCO.

List of Customers: HRH Prince of Wales, CARITAS, Martin Brower, HMPS, DB Schenker, Northeast Biodiesel, and the government of Mexico

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List of Competitors: Lurgi, Jatrodiesel, and Methes !!PneumatiCoat Technologies LLC

!Website: www.pneumaticoat.com Location: Broomfield, CO Phone: 303-514-7501 !Last 12 months revenue: $300,000

Financing sought: $1,000,000

Outside equity investment to date: Only founders

Status: Colorado LLC

!!!Company Description: PneumatiCoat Technologies (PCT) is a materials coating company focused on the development and industrialization of nano-scale atomic layer deposition (ALD) coatings on materials for energy storage and related industries. ALD coating advantages have been published in numerous academic journals. Until now there has been no efficient and affordable way to scale these coating processes. PCT’s patent pending semi-continuous coating process provides a gateway towards the industrialization of these groundbreaking coating solutions. PCT coatings have massive addressable markets, including Li-ion ($14B), alkaline battery ($5B), catalysts, corrosion protection, ceramics, and precious metal alternatives in electronic manufacturing. Formed in 2011, PCT is focused on building a 100 MT pilot plant and supplying customers with coating solutions for product integration. PCT has near-term revenue opportunities that require minimal capital expense, which are derived

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from deep customer relationships. PCT has grown to a profitable company through founder investment, SBIR grants, and service-based revenue.

Business Strategy/Competitive Advantages/Market Opportunity: The PCT business model is to sell coating services to existing materials producers and OEMs. Application and chemistry specific joint ventures will be explored with companies that have compelling market share. Conventional coating processes such as sol-gel and CVD apply inconsistent coating thickness and quality, are expensive, use excessive raw materials, and do not scale. The first market we are pursuing is Li-ion batteries, which have a $14B market size that is growing 15%-20% per year. ALD coatings are beneficial to most Li-ion chemistries, can easily be integrated into existing manufacturing processes and are low cost and scalable. PCT’s coatings provide nearly 100% of original charging capacity over the lifetime of the battery, up to 30% material savings per battery, reduction in weight/watt, enhanced operating specifications (temperature window, charge rates), and dramatically improved safety

List of Customers: Our customers range from raw material suppliers and OEMs to end users. Initial customers are primarily in the Li-ion battery space, where we have extensive data proving our coating process benefits. We are in multiple stages of development with many Li-ion customers, ranging from initial coating samples to production of multiple kilograms of coated material for large-scale testing before supply contracts. We validated demand through engagement with companies such as NEI, CK Technologies, and ADA, as well as several large companies with which we have non-disclosure agreements.

List of Competitors: Very few companies provide coatings for Li-ion battery materials. Our competitors fall into two categories: ALD coating companies that use conventional batch-based coating processes, and companies that provide coating services using CVD, sol-gel, or PVD processes. In the first category, the main competitors are Beneq, Picosun, ALD Nanosolutions, and Cambridge Nanotech (now Ultratech). The second category is much larger because the coating technologies have been around longer and are used for more commercial products. Companies such as Kyocera, Applied Materials, and

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many larger chemical companies utilize these conventional coating methods but not commercially for Li-ion batteries. Softbank

Website: www.softbank.jp/en/

Location: Worldwide

Stock Information: 52 Week High: $44.25 52 Week Low: $21.20

Clean Technology Investments: Bloom Energy http://www.bloomenergy.com

SB Energy Corp http://www.softbank.jp/en/corp/csr/future/instance_04/contents_05/ !Company Description: “Information Revolution - Happiness for everyone becoming the corporate group needed most by people around the world.” !At SoftBank, we're looking to the next thirty years and beyond with a vision for innovation and growth. Since its establishment, the SoftBank Group has consistently operated under the vision of becoming a company contributing to people's happiness and joy, and to the future of the world, not only pursuing the profit of the company. This vision is a driving force for the SoftBank Group as we continue to pursue growth. !Humanity's shared mission is to protect the value of the earth inherited from the previous generations for generations to come. In the face of a variety of increasingly serious issues, the SoftBank Group is making active changes for the good. We need to adapt our corporate activities to be more environmentally friendly. We must use our unique position as an Internet company to contribute to the realization of a society that exists in harmony with the environment. At the SoftBank Group, we feel a deep responsibility for the future of the earth. !Why invest in Softbank when you can invest directly in Bloom Energy and SB Energy Corp? !Softbank is a growing investment bank and has key investments in not only the energy sector, but also in telecommunications and e-commerce; companies that will require

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this clean technology that Bloom is providing. Specifically, investments in companies such as Yahoo Japan and Alibaba ( a company that is slated to generate more money than Facebook in its IPO debut on the US Stock Exchange this year) This is important because by investing with this bank the potential earning from their nearly 40% stake in Alibaba will give them the necessary funds to continue their projects in clean technologies such as Bloom and SB Energy. !With key investments in energy, telecommunications and e-commerce, this bank shows a lot of potential to be a leading investment bank in the years to come. !To put into perspective Goldman Sachs, a leader in the investment banking sector trades their stock at $162/share. !Why Is Bloom important to Softbank? First, What is an Energy Server (a Bloom Energy product) ? Built with our patented solid oxide fuel cell technology, Bloom's Energy Server™ is a new class of distributed power generator, producing clean, reliable, affordable electricity at the customer site. Fuel cells are devices that convert fuel into electricity through a clean electro-chemical process rather than dirty combustion. They are like batteries except that they always run. Our particular type of fuel cell technology is different than legacy "hydrogen" fuel cells in three main ways: !Low cost materials – our cells use a common sand-like powder instead of precious metals like platinum or corrosive materials like acids. !High electrical efficiency – we can convert fuel into electricity at nearly twice the rate of some legacy technologies !Fuel flexibility – our systems are capable of using either renewable or fossil fuels Each Bloom Energy Server provides 200kW of power, enough to meet the baseload needs of 160 average homes or an office building... day and night, in roughly the footprint of a standard parking space. For more power simply add more energy servers.

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