PRO WASTE PLUS LTD. INVESTMENT PROJECT

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1 PRO WASTE PLUS LTD. INVESTMENT PROJECT Energy facility for the production of electricity from renewable energy sources and the separation of municipal solid waste Bulgaria

2 Investment proposal for the construction of an energy facility for electricity generation through an automated separation system We bring to Your attention, The Company PRO WASTE is registered in the Registry Agency and is one of the lead companies whose main purpose is to protect the environment, prevention of environmental pollution, as well as electricity generation from renewable sources. In connection to minimizing the everyday pollution, regulating the separate waste collection, improving the environment, reducing the harmful effects on human health, and at the same time obtaining end products, which are required and enter into use in people s lives, our company intends to build: An energy site for production of electrical energy from renewable energy sources and for municipal solid waste separation. By realizing this investment intent PRO WASTE provides example for a high-tech separation and municipal solid waste processing, which will prevent social and energy losses, which in turn will improve the standard and the environment of life two essential factors for society. We have the pleasure of presenting You one of the most modern, revolutionary technologies of a high-quality product, innovative design, which covers the highest quality, reliability, efficiency and long-term operating standards in the world, namely the first Energy site for production of electrical energy from renewable energy sources through an automated separation installation for non-hazardous waste in the Choplaka area, on the land of Ravadinovo village, in the Regional Landfill of the Sozopol Municipality. There is another such project on the territory of Sozopol and two more in the same field on the territory of the Municipality of Burgas. With this investment intent we will achieve efficient, economical and environmental use of waste resources, relative reduction of harmful emissions in the atmosphere, increase of work places, increase in the quality of the tourist product, reduction of the municipality waste disposal deductions, which will result in the release of financial resources into the municipal budget. Location of the existing landfill and the newly built installation in Sozopol The investment proposal will be realized in Landed Property , Choplaka area, on the land of Ravadinovo village, Sozopol Municipality. The property has a total area of 124,129 decares by way of permanent use landfill and is municipal private property. It consists of plots 377, 304, 400, 364, 259, 409 and 299, also municipal private property. The terrain, laid down for the construction of the installation, constitutes Cell 4 of the Regional Landfill. PAGE 1

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4 1. ELEMENTS OF THE EXISTING LANDFILL LANDFILL CELLS Cells 1 and 2 put into operation; Cell 3 MSW processing plant Cell 4 energy site construction zone; Platform scale Office building Generator construction Compact shed PAGE 3

5 2. Infrastructure There is no need to build an entirely new infrastructure, as the site electricity and water supply, as well as ensured transport access. Electrical conduit underground cable line 20 кv, powering the pumping station and TCH (Technical Control Points). External water supply is carried out via inlet pipeline, from which the landfill territory is supplied with water. As a rule, when an existing road transport scheme is in place, the track for the crossing of waste transporting cars shall remain the same as it was during the operation of RLNW-Sozopol. Location of the existing landfill and the newly built installation in Burgas The project "Construction of a regional waste management system in the Burgas region" was financed under the Operational Program "Environment " in accordance with the Grant Agreement No. DIR C001 / The total amount of EU funding raised is 43 million leva. The project was prepared and implemented by the municipality of Burgas in partnership with the municipalities of Sredets, Kameno, Nessebar, Pomorie, Aytos, Ruen, Karnobat and Sungurlare. The basic parameters of the project include: - Sorting station with a capacity of s MSWper year - Composting Installation with a capacity of t/year - A site for storage of construction waste - Water purification station - Ecopark for temporary storage of hazardous waste with a plot of 1150 m2. - A cell plot of 6 hectares, with a total capacity of 500,000 s and 450,000 cubic meters. PAGE 4

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7 3. Description of the investment project. This investment project consists of four stages: * Stage I: Separation installation; *Stage II: Gasification installation with electricity production generators; Currently, the first stage of our project is being built, namely the separation installation for municipal solid waste. II. Second stage GASIFICATION INSTALLATION WITH ELECTRICITY PRODUCTION GENERATORS Gasification is the process of converting calorific compounds into combustible gases (carbon monoxide, methane and hydrogen) that ideally contain all the energy of the originally submitted material. In practice, the energy conversion efficiency is between 70% and 90%. Gasification is achieved by thermal degradation of organic materials in the absence of adequate ventilation to support complete combustion. PAGE 6

The chain of processes is optimized for maximum efficiency and the lowest possible environmental impact.

All waste coming into the installation is processed. Inorganic compounds are recovered as slag and metal alloy.

In the process of gasification, the carbon contained in the incoming waste is converted into combustible gases /carbon monoxide and hydrogen/.

8 The chain of processes is optimized for maximum efficiency and the lowest possible environmental impact. Recycling of the calorific content of raw material is processed into more steps to reduce costs and environmental impact. All waste coming into the installation is processed. Inorganic compounds are recovered as slag and metal alloy. The slag can be used as a construction material and the metal can be realized as a product or sent for refining. In the process of gasification, the carbon contained in the incoming waste is converted into combustible gases /carbon monoxide and hydrogen/. Gasification is a thermal process in which due to shortage of oxygen, the organic materials burn completely. Gasification is a multistep process in which in the final stage a purified synthesis gas with high energy efficient is yielded and large amounts of heat are released. The gasifier has 3 separate process zones: Feeding Drying PAGE 7

9 Gasification Via gas generators or turbines electricity is produced from the syngas. The system allows, using the additional installation, for the synthetic gas to be liquefied, in result yielding liquid fuel. Electricity can be used to power the equipment on site or it can be sold directly to the public network, and the fuels can be sold as a commodity. Here, an important part of gasification is the thermal afterburner gas in the plasma torch/generator. Plasma generators transform 85% -90% of the delivered electricity into usable thermal energy. PAGE 8

10 4. Benefits of the investment project Thrift: Generating savings from waste transportation, landfilling costs and energy. Environment: Reducing carbon emission by avoiding waste disposal, saving the earth from turning into a landfill, protection of water sources and generation of sustainable and renewable energy. Industrial, agricultural and solid waste reutilization, reduction of the greenhouse effect, reduction of consumption of limited fossil energy sources, improving environmental conditions in the area, compliance with the legal requirements for the CO2 emissions from waste rotting, improving living conditions in the area, reduction of radiated harmful emissions, solving environmental and health problems. New work places: Creating new, high-quality work places. Investment: Attracting investments in the infrastructure for waste management. Financial rentability: PRO WASTE offers an unparalleled opportunity for generating strong financial results through generating high-value renewable energy production from the municipal solid waste. Green Goals: Supports the state or municipality and their long-term commitment towards the renewable energy and the well-being of the environment. Adaptability: The technology of PRO WASTE is scalable and adaptable which makes it suitable for a wide range of geographical places, waste quantities, as well as operation conditions. Reliability: The system runs continuously all year round. Facilities: Increases the useful life of the existing waste management infrastructure by increasing the landfill life. Proven technology: Take advantage of a highly advanced and effective technology. Public Relations: Improves the "Green" Reputation of each country or municipality Every one of the 4 projects is individual and has an equal CUU and cost. PAGE 9

11 5. Financial Framework (For one of the four projects) 3 million euro Acquisition of land and preparation of authorization documentation 1 million euro Construction of a Municipal solid waste separation installation ; 17million euro- Construction of a Gasification installation ; Waste processing plant Preliminary Financial Model total/ euro Gasification line equipment and installation Separation line equipment Auto transport Right of construction Ground preparation Building and vertical planning Communications and installation work Documentation and permissions Processing volume annual () daily () 88 Total revenue Total working hours working days Labor & occupational expenses Other expenses Total costs Gross profit Other expenses Year Percent Unit Hazardous waste 100% Total MSW 100% including: Food waste 35% Paper 15% Plastic 17% Metals 4% Glass 7% Mineral particles 4% Wood and textiles 5% Humidity 13% Revenue Rate Year Unit Total: including: Electricity gen.1 - Nominal capacity 3.2 MWt; Production capacity 3 MWt 75 per MWt Electricity gen.2 - Nominal capacity 3.2 MWt; Production capacity 3 MWt 75 per MWt processing fee 30 per Hazardous waste 250 per Metals 128 per Glass 50 per Slag 0 per Carbon credits 7 per t/ СО PAGE 10

12 Expenses Rate Unit Year processing inert waste per Water and Sewage per m consumables per year machine fuel per year Electricity 0.07 kwt/h Installation Maintenance 2.5% per year Labor expenses staff (gasifier) 24h (4 shifts х 3 people) staff (gasifier) regular shift 8h ( 7 people) Director Foreman Accountant Cashier Administrator Additional remuneration Social Security Contributions 37.3% 37.30% Gasification line equipment and installation Depreciation (5 years) 30% per year Balance sheet value Transportation and equipment Depreciation (5 years) 30% в год Balance sheet value Building and facilities Depreciation 4% в год Balance sheet value Return on capital Period (months) 60 Rate 0% Annual payments Movement of Cash Flows Initial Balance Sales Expenses Wage costs Tax deductions Capital investments Equipment and mechanization Building Others Financing Investments Return on capital Final Balance for the Period Dividend distribution Year

This is a draft revision of the briefing, and any comments are welcome please them to Becky Slater on

January 2009 Briefing Pyrolysis, gasification and plasma This is a draft revision of the briefing, and any comments are welcome please email them to Becky Slater on becky.slater@foe.co.uk. Introduction