IP and Green Tech: Accelerating Commercialization and Promoting Global Innovation

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1 IP and Green Tech: Accelerating Commercialization and Promoting Global Innovation Mark Webb Director Policy and Business Evaluation Alternative Energy Solutions Dominion June 1, 2011

2 Dominion Leading Energy Provider in Northeast U.S. Map excludes Cirro Energy operations in Texas. 2

3 Alternative Energy Solutions Role within Dominion Conduct technology research in renewables and conservation and load management to support business units Foster the evaluation of new and emerging technologies from a Dominion wide perspective Participate in shaping the nation s energy policy Identify business opportunities Provide an information and idea sharing forum for the Company 3

4 Alternative Energy Solutions View of the Market Significant technology advancements Costs coming down Further enhanced by tax incentives Need for regulatory certainty Global influences continue to be major driver Inconsistent venture capital availability Continued customer interest and support Industry stakeholders more engaged Speed of patent process affects investment decisions 4

5 Dominion Resources GreenTech Incubator (DRGI) Founded in November 2009 in Ashland, VA. Domestic green tech incubation program and international commercialization center. Seeks to attract clean energy innovators desiring to accelerate growth of early stage businesses. Companies benefit from access to staff expertise and beta testing on Dominion s grid, business advisory boards, and business and support services. In March, the Virginia Israel Board, Office of the Governor, DRGI and the Greater Richmond Partnership hosted 5 Israeli companies interested in entering U.S. market. 5

6 Dominion Conservation Voltage Reduction (CVR) The Technology An algorithm that enables off peak voltage reduction Results in ~ 3% reduction in total energy consumption Validated by Electric Power Research Institute Patent pending The Opportunity Developing business plan to market intellectual property (IP) for CVR in national and potentially international markets Assessing optimum path to market product to third parties Have received significant interest across wide range of potential partners Announced partnership with Landis & Gyr to market CVR on a pilot basis 6

7 Halifax County Solar Project R&D to Commercialization Project Proposed 4 MW ground mounted solar photovoltaic and advanced energy storage project (12 Mwh). Located in Halifax County, Virginia on up to 50 acres of land. Received approval from Virginia Tobacco Commission in October 2010 for $5M to help fund the project. Commercializing unique battery storage technology. Proposed battery manufacturing facility and approximately 150 associated jobs in Halifax. Regulatory filing date dependent on battery testing results and progress made by the battery manufacturer. 7

8 Off Shore Wind Potentially represents Virginia s largest source of renewable energy Virginia law created Virginia Offshore Wind Development Authority Initial transmission study by DVP issued to Legislature in December Expect Call for Interest (CFI) to be issued by Bureau of Ocean Energy Management, Regulation and Enforcement (former MMS) in 2011 Dominion to participate in process Recently announced initiation of high voltage underwater transmission study to connect multiple projects to DVP grid 8

9 Business Investments/Opportunities Power Tagging SmartSynch Xtreme Power Intelligence Within Emerging technology which introduces a secure digital signal into electric distribution system Persistent and non disruptive signals to monitor and control devices, critical load, and general information Smart Grid technology company in hardware (Wireless Smartmeters and SmartBoxes Grid Router ), software & services (Network Management & Managed Services) business Growth stage company with proven advanced power cell technology, associated control systems, and power electronics in growing energy storage market space Multiple viable and scalable applications for storage technology deployment 9

10 Summary Technology continues to evolve at rapid pace. Business opportunities created through technology commercialization. Regulated nature of business need for the ability to commercialize technologies through demonstration projects and recover costs of investment. Utilities can accelerate commercialization if regulatory framework permits it. Ensuring IP protection while advancing alternative energy. 10

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