RWEDI Solutions, Inc.

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1 , Inc. Jessica Linville, CEO World Water-Tech North America November, 2017

2 Cooling Towers are Expensive to Operate Institutions operate 4-10 cooling towers using: 40M-200M Gal Water/Year Chemical Treatment 1-3M/year OPEX 2

3 RWEDI Water Reduces Operating Costs by 20% Purified Water Reject Water Electrical Current + - Municipal water costs 15% Municipal Water Uses electricity to remove ions that cause scale and corrosion Sewer costs 55% Chemical treatment costs 40% Average $35k/year per tower savings Business Confidential Information, July

4 Developed by scaled by DOE EERE, AMO and ARPA-E funding, 17 patents & 50+ peer-reviewed papers (1) Lab Testing Pilot Size 2,000 hour tests (2) Lab Pilot Small Commercial Size Field validation (3) Field Pilot Large Commercial Size RWEDI Unit (4) RWEDI System IH2O Pitch Deck, November 1,

5 Target Market: Southwestern U.S. has Increased Need Water Hardness Drought 6,000 cooling towers = $1.1B in revenue World Water-Tech North America, November

Sales Channel at Scale: Partner with Service Providers Device OEM Hardware Wafers Water Treatment Service Provider Chemicals & Service Institutions Revenue Annual Fee Lower

6 Sales Channel at Scale: Partner with Service Providers Device OEM Hardware Wafers Water Treatment Service Provider Chemicals & Service Institutions Revenue Annual Fee Lower Sales Costs Service Network Higher Service Margins Chemical Savings Competitive Offering Water Savings Chemical Savings Cost Savings World Water-Tech North America, November

7 Unit Economics (Large-Unit) Customer RWEDI Year 1 ($80k) Device $35k Water + Chemical ($0.5k) Savings Added Electricity $80k Device ($38.4k) COGS ($2.6k) Argonne Royalty ($5k) Install Years 1-10 ($10k) $35k Service Contract Water + Chemical ($0.5k) Savings Added Electricity 3.2 Year Payback World Water-Tech North America, November 2017 $10k Service Contract ($2.6k) Wafers + Royalty ($1.0k) Partner Revenue $98k LTV (1 tower) $588k LTV (6 towers) 7

8 Growth ($000 s) Customers 1-pilot Small Units 1-pilot Large Units Revenue $0 $113 $1,015 $4,013 $13,588 $32,500 Expenses COGS ,249 7,461 17,574 Engineering ,476 3,410 Sales & Marketing ,478 1,780 SG&A ,549 2,890 4,344 Headcount EBIT ($250) ($732) ($897) ($1,146) $393 $5,391 Margin - (650%) (88%) (29%) 3% 17% * Fascial year runs from July to July World Water-Tech North America, November

accelerators Previous Postdoctoral Researcher at Argonne B.S. in Chemical and Ph.D.

sales in a highly competitive market Position Vacant, VP of Engineering Process design

develop training programs for partners and end users Position Vacant, VP of Finance

Snyder, Technology Inventor at Argonne National Laboratory YuPo Lin, Technology

9 Team Mentors Jessica Linville, Ph.D., EI, CEO and Founder Participated in 2 Energy I-Corps, ATI SEAL, and other accelerators Previous Postdoctoral Researcher at Argonne B.S. in Chemical and Ph.D. in Environmental Engineering Bryan Pollock, VP of Sales and Marketing Previous Regional Account Manager at SICK, Inc. & KEYENCE Over 10 years B2B sales experience in factory automation Achieved record sales in a highly competitive market Position Vacant, VP of Engineering Process design engineer Experience designing and installing water treatment systems Ability to develop training programs for partners and end users Position Vacant, VP of Finance Technical degree with an MBA Experience with startup financial projections Seth Snyder, Technology Inventor at Argonne National Laboratory YuPo Lin, Technology Inventor at Argonne National Laboratory Bart Bohn, Water Technology Incubator Leader at Austin Technology Incubator John Carlisle, CIM Lead Mentor Entrepreneur and Industry Expert World Water-Tech North America, November

resin-wafer manufacturing Hire additional employees Innovation Fund $250,000 June 2017- June

10 Summit Request We would like to speak with: Utilities with conservation program Water treatment services companies Investors for $850K raise in May 2018 Secure 3 paying customers Scale resin-wafer manufacturing Hire additional employees Innovation Fund $250,000 June June 2018 Secure pilot customer Run pilot / proof-of-concept World Water-Tech North America, November

11 , Inc. Thank You Contact: Jessica Linville CEO and Founder

12 FAQS

13 U Chicago Cooling Towers World Water-Tech North America, November

14 UT-Austin Central Chilling Station #5 World Water-Tech North America, November

15 RWEDI Water was developed at Argonne National Lab Resin Wafer in sealing gasket Commercial system used in previous testing (size 0.2 m 2 ) Uses electricity to remove ions that cause scale and corrosion World Water-Tech North America, November

16 Defensibility (1) Technology (2) Adoption (3) Knowledge License Additional IP Formulation & Production First to market Validation Argonne relationship Experiential learning World Water-Tech North America, November

17 Cooling Towers are Expensive to Operate Evaporation 16.1M gal Makeup Water 21.8M gal $125,500 Chemicals $10,000 Annual OpEx $162, M gal = 700x *Values based on average conditions for a 1,000 ton tower Blowdown 5.7M gal $27,000 World Water-Tech North America, November

Water ROI ~3yrs *Values based on average conditions for a 1,000 ton

18 RWEDI Water Reduces OPEX by 20% Evaporation RWEDI Water Makeup Water (reduced 15%) Chemicals (reduced 40%) Annual Savings $35,200 3M gal Water ROI ~3yrs *Values based on average conditions for a 1,000 ton tower Blowdown (reduced 55%) World Water-Tech North America, November

19 ER-A ER-B Concentrate REWDI Water Installed as a Pretreatment System Benefits: Easy to retrofit Modular design Chemical treatment maintained as backup Make-up Water Input L2 L 1 Makeup Feed Cooling Tower Con 1 Control V 1 Requirements: Two make-up water control valves Reject water piping Power supply Con 2 Feed + - Recirculated Water Concentrate Recirculation RWEDI Unit Blown Down World Water-Tech North America, November

20 Case Study: 1000 Ton Cooling Tower (4ft 2 size system) Savings of 3M gallons/tower/yr ( 15%) OpEx saving $35,300/tower/yr ( 22%) Service cost ~$10,000 Total savings $25,300/tower/yr CapEx ~ $75,000 Payback period ~3.0 yrs $160, $140, $120, $100, $80, $60, $40, $20, Operating Costs Qualifies for water utilities rebate programs $- Current Costs Costs With RWEDI Municipal Water Sewer Chemicals Serivce World Water-Tech North America, November

21 Customer Archetype Clay Looney Operation Manager Key Influencers Utilities & Facilities Upper Management Sustainability Director Previous Sustainability Efforts Switched 1 chilling station to reclaimed water with plans to switch more Operates 7 Cooling Tower Stations 5 chiller + 2 power generation Water use 350M gallons/ yr Operating costs - $2.75M/yr Rebates Austin Bucks for Business 50% off capital costs We want to make our operations more sustainable, which includes new ways of conserving water. RWEDI technology would be a real plus World Water-Tech North America, November

22 Manufacturing Resin-Wafers RWEDI Stack RWEDI System In-house Partnership Assembly in-house World Water-Tech North America, November

23 Unit Economics (Small Unit) Customer RWEDI Year 1 ($37.5k) Device $14.2k ($0.3k) Added Electricity Water + Chemical Savings $37.5k Device ($21.1k) COGS ($1.2k) Argonne Royalty ($2.5k) Install Years 2-10 ($5k) $14.2k Service Contract Water + Chemical ($0.3k) Savings Added Electricity 4 Year Payback World Water-Tech North America, November 2017 $5k Service Contract ($0.8k) Wafers + Royalty ($1.0k) Maintenance $44.5k LTV (1 tower) $445k LTV (10 towers) 23

24 Competitive Landscape Good OK Poor Chemical Treatment Advanced Chemicals Water Softening Niche Technology Other Technology RWEDI Solutions Examples Nalco ChemTreat Teryln PhosZero Water CTI GE Water Dolphin Silver Bullet RO ED/EDI RWEDI- Water Improves Water Quality Reduces Water Consumption Reduces Chemical Use Energy Requirements Labor Requirements Maintenance Requirements Scalability (to tower size) Installation Restrictions Market Adoption (cooling towers) Capital Costs World Water-Tech North America, November

25 Segmentation Decreasing Cooling Tower Size Target Market Power Plants Power Plants Oil and Gas Refineries Chemical Processing Institutions Institutions Office Buildings Office Buildings Long sales cycles Slow to adopt Hospitals Universities Data Centers Airports Market Expansion Small scale World Water-Tech North America, November

26 Total Available Market Market Values Target: $588M Industrial: $22.5B Adjacent: $13.5B Power Plants: $225B Total: $261B Larger cooling towers are more risk adverse Requires additional technology validation Adjacent markets requires more customer validation Power Plants 7,650 power plants 50 Trillion gallons of freshwater/year 40% of freshwater withdraws Adjacent Markets: Boilers, dehumidifiers, etc. 250,000+ systems ~3 Trillion gallons of freshwater/year 2.5% of all freshwater withdraws Industrial Cooling Towers 500,000 cooling towers 5 Trillion gallons of freshwater/year 4% of freshwater withdraws Southwestern Institutions 6,000 cooling towers 130 Billion gallons of freshwater/year World Water-Tech North America, November

27 List of Rebate Programs Cities Austin Denver San Antonio Dallas South CA South Nevada Program $0.5/1000 gal - 10 years - 50% CAPEX $18.5/1,000 gal - 50% project costs $1.67/1,000 gal - 100% CAPEX 50% Capex $0.6/1000 gal - 10 years - 50% project costs $8/1000 gal - 50% CAPEX World Water-Tech North America, November

28 Water prices by City City State Water Price ($/1000 gallons) Sewage Price ($/1000 gallons) Year of Data RWEDI Water Savings Austin TX $45,675 Tulsa OK $45,037 Los Angeles CA $43,556 San Diego CA $35,258 Colorado Springs CO $35,126 El Paso TX $33,071 Houston TX $30,711 Denver CO $29,580 Las Vegas NV $29,087 Dallas TX $29,058 Phoenix AZ $28,101 Kansas City KS $27,973 Salt Lake City UT $24,968 Chicago IL $23,809 San Antonio TX $23,789 Oklahoma City OK $22,040 World Water-Tech North America, November

29 Detailed Customer Archetype Clay Looney Operation Manager for 7 years B.S. in Mechanical Engineer Likes investigating new technology We want to make our operations more sustainable, which includes new ways of conserving water. The RWEDI Water technology would be a real plus. Job Duties Operates 7 Cooling Tower Stations 5 chilled water + 2 power generation Water use 350M gallons/yr Operating costs - $2.75M/yr Key Influencers Utilities & Facilities Upper Management Sustainability Director Austin Bucks for Business rebate program Previous Sustainability Efforts Switched 1 cooling tower to reclaimed water Motivation Clay is concerned about the drought in Austin a few years ago. He knows that he has to be ready for the next one. The Austin Water Utility is increasing water prices to encourage reduced water use. Austin Water also has a rebate program for reducing water use and is offering reclaimed water at a low cost. He took advantage of the programs in 2015 to switch one tower to reclaimed water. Reclaimed water is difficult to run in a cooling tower but he will be switching more. He is looking for options to reduce his operating costs and increase his sustainability. Both looks good to his upper management and the sustainability director at the university. Other concerns include heath and safety of his employees, and reliability and maintenance of the equipment. World Water-Tech North America, November

30 Direct Sales Channel Easy to Retrofit Scalable to Size Existing treatment as backup RWEDI Water Establish Relationships Technical Service Hardware Wafers Hardware Sales Service Fee +$35,000 Institution 15% Water Savings 55% Sewer Savings +40%Chemical Savings 20% Cost Savings World Water-Tech North America, November

31 Target Segment: Institutions have sustainability goals 1,000 Institutions Universities Data Centers 6,000 Cooling Towers Airports Hospitals Offices $210M Cost Savings Annually Southwest US 18B Gallons of Water Savings Annually World Water-Tech North America, November

32 Go-To-Market Timeline Total Addressable Market: $1.1B Southwest U.S. mid-sized institution market Distribution Strategy: Partner with water treatment services companies to reduce cooling tower operating costs Launch Sept Aug Traction Aug Aug Growth Aug Dec Main Focus: Install Field Demonstration Unit Install 3 Beta Units at Paying Customer Sites Reduce COGS through Contract Manufacturing Priority Tasks: Validate Value Propositions Develop Control Scheme Develop Skid Configuration Initial Resin Wafer Fabrication Validate COGS Validate Market Interest Finalize Control Scheme Finalize Skid Configuration Pilot-Scale Resin Wafer Manufacturing Develop Supply Chain Partners Develop Contract Manufacturing of Stack Finalize Supply Chain Partners Finalize Resin-Wafer Manufacturing Scale Sales and Marketing Teams Target Results: 20% OpEx savings 3 Paying Beta Customers $850M Series A Funding 3 Channel Partnerships 10 New Customers $2.5M Series B Funding Reduce COGS by 80% 40 New Customers and 5 Channel Partnerships World Water-Tech North America, November

Executive Summary COMPARATIVE DISTRIBUTION WAREHOUSING COSTS IN 25 WESTERN AND MIDWEST U.S. CITIES. Location Consultants Princeton, NJ

Executive Summary COMPARATIVE COSTS IN 25 WESTERN AND MIDWEST U.S. CITIES TABLE OF CONTENTS EXECUTIVE SUMMARY AND NOTES... 2 INTRODUCTION... 2 COMPARATIVE WAREHOUSE LOCATIONS... 2 COMPARATIVE NONEXEMPT