A World Leading Renewable Energy Company. Teamwork - Excellence - Innovation - Accountability

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1 Overview of DP CleanTech Group:A World Leading Renewable Energy Company January 2016 DP CleanTech Company statements Our Mission: Our Vision: Our Core Values Our Company Philosophy: Clean Energy, Natural Solutions A World Leading Renewable Energy Company Teamwork - Excellence - Innovation - Accountability Think and Act like an Owner Fast Facts: DP CleanTech Group Headquarters in Europe, largest market and largest office is in China. Offices in 7 countries ~160 employees. Over 100 biomass, waste-to-energy, and service project references around the world (January 2016) Delivered some of the first biomass plants in the world in Europe and China. Manufacturing capabilities in Poland, Global Engineering Services hub in Denmark, Flue Gas Cleaning Centre of Excellence in UK Focused on delivering solutions and knowhow to biomass and waste-to-energy clients European heritage, patented European technology, global presence Guaranteed performance products using European High Temperature High Pressure technology International, audited standards of operation, processes, systems and corporate governance What makes DP CleanTech unique as a company? Our Philosophy - Throughout our company and our locations around the world, we encourage and value the innovation and teamwork needed to respond quickly and flexibly to our customers. Our employees are held individually and collectively accountable for their performance, and are rewarded for excellence in their respective disciplines. We believe that our open, transparent

2 attitude; our accessible style of communication and our collaborative approach towards our customers and partners are the foundation to being a world leading renewable energy company. As a company, we acknowledge mistakes and failures as a reality and emphasize the importance of early identification and information transparency in resolving potential problems. Global and Agile - We are a multicultural, global company with offices in 7 countries in Europe, Asia and Africa. This provides us with the ability to fully leverage engineering, manufacturing and supply chain resources to maximize productivity and minimize cost. We currently have around 160 full time employees working on biomass and waste-to-energy projects around the world. A process-driven approach to business is underpinned by a responsive workforce and a lean company structure which encourages our energetic and knowledgeable teams to react quickly and decisively to client needs. Our multinational senior management team is located in Europe and China. We also have two Centres of Excellence which provide global integration platforms for Boiler engineering and Flue Gas cleaning projects, research and development. These are located in Denmark and the UK respectively. Focused - We are one of the few companies in the world to be focused entirely on converting organic and inorganic waste streams into energy. Our company structure reflects this core discipline and we have attracted some of the most committed expertise in the industry. To date, we have experience in dealing with over 60 fuel types including varieties of straw, wood, municipal solid and industrial wastes. Our fuel analysis and emissions control capabilities are further enhanced with our proprietary Biomasslab software and our Flue Gas Cleaning expertise. Rapid Rollout - We have over 80 biomass and waste-to-energy power plant references of various sizes and fuel types around the world. This achievement and our customer reference list clearly demonstrate our capabilities. The increasing use of standardized componentry and continuous optimisation is the key to meeting customer requirements for lower costs, lower risks and greater certainty. A tightly controlled supply chain and in-house manufacturing provide greater quality and cost management. We have an additional reference list for Flue Gas cleaning projects. 2

3 Guaranteed Performance - Our European-developed High Pressure High Temperature technology is one of the most efficiency proven and reliable in the world. Our products and services are highly cost competitive, and performance guaranteed. The first successful straw fired technology in the 1980 s in Europe was pioneered by our company engineers. Since then we have been continuously optimizing our products for the most advanced plants in the world with a range of solutions that have been developed specifically to address multiple varieties of single, mixed or specialist fuels. FAQ s 1. About DP CleanTech Q: When and how was DP CleanTech formed? A: DP CleanTech was formed in 2004, and was founded originally to develop biomass power in China using licensed European technology. In more recent years, DP CleanTech has formally acquired the relevant technology, key patents and intellectual property through acquisition of European boiler engineering and manufacturing companies Bioener and Boilerworks. The addition of standalone Flue Gas Cleaning technology and expertise in the UK is a further extension of our capabilities. Q: How many employees does DP CleanTech have? A: Currently DP employs around 160 employees spanning offices in 7 countries around the world. Q: What is the DP CleanTech ownership structure? A: DP CleanTech is a privately owned company. The largest shareholding is held by current CEO Simon Parker, and a number of other management executives are material stakeholders. Q: What is the long term direction and strategy of the company? A: DP s vision is to be a World Leading Renewable Energy company. The foundations to achieve this have been laid over the last few years, and the outlook for the global industry is increasingly positive. We continue to build on the strategic pillars of technological excellence; unrivalled experience and 3

4 knowledge of biomass combustion; cost effective production engineering, and superior capabilities in local execution To facilitate this direction, we have offices and employees in 7 countries who work together across borders and cultures, leveraging centralized and local resources to their best advantage for our customers and our business. We have developed global platforms, systems and processes that can seamlessly integrate information and resources in order to deliver the most efficient, effective and cost competitive solutions for our customers. Our management team are internationally qualified and highly experienced professionals, and our company philosophy and values reflect our belief that the sharing of knowledge and experience across our company is key to our successful growth around the world. Recently we have launched new products; increased our geographic coverage to include projects in Latin America and Africa; and performed numerous consulting roles, thereby underlining our ongoing progress towards our ambition to offer all round delivery capabilities to our customers - from fuel to stack. In December 2014, DP signed a framework agreement with Everbright International to capitalize on synergies in the expanding renewable energy and waste to energy industry in China, and worldwide. We continue to work with leading companies in related industries such as agriculture and bioenergy to ensure that we are leveraging the developments in those industries that can benefit our customers and the industry. As an organisation we are always open to learning and innovation. Our extensive and unrivalled experience in China in building over 60 plants has provided us with ample opportunity to hone our capabilities and understanding of the challenges involved in developing, building and operating biomass power plants in challenging environments. This depth of understanding is proving invaluable to new clients and new markets; and gives DP a unique competitive advantage. For 4

5 companies in similar or related businesses our experience can be brought to bear in many different ways throughout the value chain. Q: Does DP CleanTech work to global quality standards? A: DP CleanTech is a truly international company that operates to globally recognized standards of quality and corporate governance. We are regularly audited and meet the required international standards for corporate and product compliance. 2. Our Product and Scope of Services Q: What are DP CleanTech s core products? A: DP CleanTech s core product proposition resides in both our technology and our knowhow. DP designs, engineers, manufactures, commissions and services biomass and waste to energy power plants. We provide complete solutions for turning waste materials into steam for the production of heat and electricity. We are always looking for logical value-creating opportunities to expand our scope and as such we have made strategic acquisitions in Flue Gas Cleaning capabilities and proprietary intellectual property in the UK; and Engineering and Manufacturing capabilities in Denmark and Poland. But DP s capabilities and experience extend beyond technology. Our knowledge resides throughout the value chain of products and services, and we offer consulting on feasibility planning; designing, building and commissioning power plants and standalone component manufacture; to after sales and maintenance. As an international company which has a large market share in China, we have a unique insight into the working culture of many types of Chinese companies. We are increasingly playing an important role in helping overseas clients to work more successfully with China partners in the biomass industry. 5

6 Q: Does DP CleanTech deliver EPC? A: Yes, subject to circumstances, DPCT can supply the complete power plant on an EPC basis in some regions. Otherwise, we will work with local EPC contractors to deliver the complete plant. We are also able to act on behalf of clients who wish to engage with China EPC companies. Q: How does DP deliver the best solutions to its customers? A: DP takes an end to end approach to its proposed solutions, believing that a fully integrated and holistic system will deliver the best outcomes. We have extended our expertise across the entire value chain, from feedstock logistics to assessing power plant economics, and are able to advise our customers on how different equipment, fuel or logistics choices may impact on power plant economics, efficiencies or operations. A key starting point is the nature of the fuel, and we will conduct an initial and in depth fuel assessment to determine the best possible options. With deep expertise in fuel combustion characteristics, combined with the experience of over 80 biomass power plants, DP s solutions are optimized for specific customers, fuels and prevailing conditions. Customers are able to see the extent of DP CleanTech s expertise by using the proprietary Biomass Lab online tool to see a continually updated database of biomass fuels found around the world and analyse and compare their own fuel. Q: How does DP provide customer service once the project is completed? A: Our customers around the world have different requirements for after sales service. In Europe, DP CleanTech has contracts to provide after sales maintenance, retrofit and annual service overhauls for customers in Europe. In Asia, we provide customer support on an as-agreed or asrequired basis. Q: Can customers benefit from DP CleanTech services if their biomass plant was developed by another company? A: Yes, DP CleanTech provides plant reviews, maintenance; retrofit, conversion and annual service overhaul services to 3rd party power plants and suppliers. 6

7 Q: What types of customers does DP CleanTech have? A: DP CleanTech has customers ranging from large public utilities to privately funded industrial plants. The scope of services ranges from complete design to commissioning services for boiler islands, to auxiliary components, technology and related services such as Flue Gas cleaning and maintenance services. Large state-owned and private utilities Large utilities are often looking for cost effective means of expanding renewable portfolios or meeting government targets. DP CleanTech is able to provide utilities with a reliable high performance solution so they can generate sustainable base load power. Project developers Increasing numbers of project developers are seizing opportunities in areas with favorable incentive schemes to generate profits. DP CleanTech can provide a complete range of services to deliver biomass and waste-to-energy power plants. DP s high efficiency technology and fuel expertise ensure the efficiency and availability of the plant and improves the project IRR. Industrial users Many factory and agro industry businesses are looking for new ways to improve the efficiency of their business and monetize the waste that they produce. DP CleanTech has a wealth of experience in delivering cost effective solutions for converting a wide range fuels into energy. Many industrial customers are rapidly realizing the potential added value of agricultural waste and by products. The waste resulting from biofuel production is an increasingly important source of feedstock. EPC EPC contractors sometimes partner with us to deliver biomass and waste-to-energy power plants. Some EPC contractors have limited experience with biomass and waste fuels and choose to contract DP CleanTech due to our unique expertise in converting biomass and waste fuels into energy. 7

8 Plant owners DP CleanTech has helped many plant owners to improve the performance and profitability of their plants through boiler modifications and retrofits with new and more advanced technology. DP CleanTech also has a huge amount of experience converting fossil fuel plants to run on biomass or waste fuels. 3. Our Technology Q: Where does DP CleanTech s core technology originate? A: DP CleanTech s core high pressure, high temperature boiler technology was originally developed in Denmark. DP CleanTech acquired its world class straw- fired technology via an acquisition of Bioener in Denmark. With the expertise of our design engineers, and the acquired knowledge from over 60 projects, it has also been adapted and improved to serve different markets and different fuels. The addition of Flue Gas Cleaning expertise has further extended our core capabilities. Our Flue Gas cleaning technologies have been used in biomass, waste to energy and clinical waste disposal plants as project that are independent of DP CleanTech boiler technology. Q: Where are DP CleanTech s products manufactured? A: DP CleanTech manufactures certain components and products in-house in Jedrzejów, Poland. Depending on client requirements we can further leverage our global supply chain to deliver quality, and cost competitive products anywhere in the world. Q: What are DP CleanTech s exclusive technologies? A: DP CleanTech holds a number of patents and patents pending for components and solutions to the whole boiler island. DP CleanTech developed the Water Cooled Vibrating Grate, which was engineered and produced especially for biomass fuel types. 8

9 Q: What is the typical size for DP CleanTech power plants? A: DP CleanTech s experience in developing biomass power plants has been mainly between 6 MWe and 42 MWe (with equivalent and varying thermal outputs); however DP CleanTech s capabilities extend beyond these, and are based on project circumstances. Q: What is the latest development in boiler technology for DP CleanTech? A: The DP EcoMulti and MaxMulti solutions are the latest developments in DP CleanTech s product portfolio. These are highly optimized boilers that are specifically designed and packaged to address 2 of the most significant factors that negatively impact on performance economics and cost. Poor or variable fuel quality Effect: sub optimal combustion and efficiency, rapid corrosion, shorter life cycle, higher maintenance costs NOx emissions Effect: increasingly costly solutions to achieve regulatory standards. Long experience of multiple fuel types and flue gas cleaning technologies has enabled DP to develop a product which specifically addresses these problems. The integration of de-nox technology, and anti-corrosion measures into the boiler system is a unique and innovative approach. Q: What other product developments is DP working on? DP is currently working on Ultra High Pressure boiler solutions; and on improving the performance of key components within the boiler island. DP has developed a number of stand-alone technologies that can be applied to new or existing DP projects. In some cases, our products can be deployed to improve the performance of competitor products. Q: What is DP CleanTech s technical legacy? A: DP CleanTech s references include the first straw-fired power plant in the world. Developed originally as a demonstration project in Rudkobing, Denmark, it was commissioned in 1990 and due to its great success is still running well today, having required remarkably little maintenance. The core 9

10 technology is the foundation for our highly advanced solutions today. We continue to improve our existing technology and we conduct ongoing research and development to pioneer new boiler and auxiliary product solutions that will improve efficiencies, lower cost and increase profitability for our customers. Q: What is DP s long term business strategy? A: We have a number of strategic initiatives in place Upgrade of core product technology R+D for new core products and auxiliary products Plant optimisation products and services Focus on China for development and export to emerging markets Development and management services for related renewable businesses at all stage of the value chain. 4. Our References Q: How many reference projects does DP CleanTech have? A: Over 80 power plants worldwide utilize DP boiler technology. As of January 2016, 67 DP technology biomass or waste-to-energy power plants worldwide are operational and there are a further 15 under development. Flue Gas Cleaning technology has been deployed in 17 projects and our Services team are involved in 33 service contracts. Q: How is DP CleanTech positioned in the global market? A: DP s technology and reputation dates back to 1990, with the first biomass power plant to operate in Europe. The expertise and knowledge has been retained and developed, and today DP is the acknowledged expert in straw firing. Since 1990, our expertise in fuel analysis and combustion has allowed us to work in many different markets with a huge variety of fuels, to deliver the most highly optimized, reliable and efficient boilers available in the market. Our customers around the world and particularly in those countries with complex fuels are testament to our reputation as experts in our 10

11 field. Our global presence and company structure allows our solutions to compete effectively on the world stage, offering European technology, global design and procurement and local execution. Our additional very strong capabilities and experience in Flue Gas Cleaning have added further value to our proposition, thereby ensuring that DP is a world leader in total solutions for biomass and waste to energy plants. We have offices in Thailand to service several existing projects and the growing SEA market, and most recently, we have expanded our global presence to include an office in Ethiopia, and have signed new projects in Africa and Latin America. Q: How is DP CleanTech positioned in the China market? A: China is currently DP s largest market, with about 30% market share. DP CleanTech developed and commissioned the first biomass power plant in China in The 30MWe biomass power plant is based in Shanxian Province, and was conferred as the No. 1 National Demonstration project. The successful operation of Shanxian was a breakthrough in the comprehensive utilization of agricultural and forestry waste in China. It directly promoted China s biomass energy development and was recognized by the National Development and Reform Commission (NDRC) and the National Bureau of Environmental Protection. Today, DP is the market leader in China, reflecting the quality of our product and the depth of expertise in handling the poor quality and mixed fuel varieties prevalent in China. DP is also the acknowledged straw fired biomass expert, with highly professional and internationally experienced experts who have been instrumental in the introduction of advanced technology and world class project execution to a previously non-existent market. DP is also providing knowhow and expert advice for renewable type and renewable-related businesses, such as waste water, energy crop development, and waste heat recovery solutions Q: Which is DP CleanTech s most recent contract in China? A: DP CleanTech s most recently signed contract in China is for 2*130tph biomass power plant for ShaoNeng Group Ltd. This is the 2 nd project in China with ShaoNeng Group, and the 56 th project in China. 11

12 Q: Which is DP CleanTech s most recent contract in Asia? A: DP CleanTech signed a contract in Nov 2013 with Mahachai for a 9.5 MWe biomass plant running on coconut waste. The project is being built now in Samut Sakhon province, Thailand. The project will serve as a major component in a much larger initiative to deliver clean energy to the region. We anticipate considerably more business from SE Asia in the coming months having invested considerably in market education and development over the last several years. We are currently in final discussions with a number of customers in the region. Q: What are DP s capabilities and scope of business in Europe? A: Our capabilities and business in Europe are currently focused on flue gas cleaning, design engineering, manufacturing and services. Our platform for Global Engineering Services is based in Denmark and is a global source of engineering design excellence and integration for DP projects worldwide. The office in the UK is a specialized Flue Gas Cleaning division, which has standalone technology and expertise which supports 3 rd party business and increasingly, DP projects. The DP manufacturing facility in Jedrzejow, provides components for all projects as part of our global supply chain network, and is the facility from which our services business is driven. Our services business is based in Poland and is currently involved in 13 live projects. With a growing reputation and capability on the service side, DP will continue to focus on the services market in Europe using DP s European and global resources. 12