Mitch Mandich, CEO Range Fuels, Inc.

22

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. A Sustainable System

Making Advanced Biofuels a reality – Five key ingredients:

33

A Proven Conversion Process >>> FLEXIBILITY

44

K2A Optimization Plant, Denver Colorado

55

The Right Location

66

Current Status

Soperton, GA

77

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. Sustainability

Advanced Biofuels – The Path to Success

88

The Technology can utilize:i. Tops and limbs (slash)ii. Understoryiii. Pre-commercial thinningsiv. Urban debris

What is the “excess” that can be collected and delivered?

i. What’s really out there - slash and understory (pine vs. hardwood stands)

ii. Collection and transportation costs will determine what is viableiii. Best Management Practices will be scrutinized

Feedstock >>> Abundant means Available

99

o Today – Existing Forestry Resources Pulpwood Fuel chips Mill residuals

o Phase II – Getting more out of what’s there: In forest residue and un-merchantable timber Pre-commercial thinnings

o Phase III – New Sources of Renewable Biomass: Purpose grown trees and energy crops In-woods moisture management

Feedstock >>> The Evolution of Renewable Biomass

1010

Feedstock Supply – Putting the Pieces Together

A reliable Advanced Biofuels

market for the Feedstock

Practical Regulation in

support of Sustainability

A stable and profitableLogging community

Motivated Landowners

1111

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. Sustainability

Advanced Biofuels – The Path to Success

1212

Higher blends― Testing indicates +20% is achievable in existing vehicles

Wider distribution ― Only 1,651 E85 stations in the United States― More Flex Fuel vehicles in high mileage cars

Accessible Biofuels Markets >>> What Do We Need?

1313

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. Sustainability

Advanced Biofuels – The Path to Success

1414

Legislative and Regulatory Support

2007 Energy Independence and Security Act

BGY - Minimum

6.50 12 15 150

4.25

163

5

0.1

0.85

0

5

10

15

20

25

30

35

40

2007 2010 2016 2022

Current Corn-Based Cellulosic Biofuels Other

The RFS is critical to create and support a

market

The definition of Renewable Biomass needs to be inclusive,

not exclusive

1515

$1.01 per gallon cellulosic Biofuels tax credit $0.56 for cellulosic ethanol $1.01 for methanol

Title IX – Energy Programs (key provisions for Advanced Biofuels producers) ― Biorefinery Assistance

Loan guarantees – up to $250 million Grants – up to 50% of project costs

― Biomass Crop Assistance Program Provides financial assistance to growers transitioning to renewable

biomass for use by biomass conversion facilities

FOOD, CONSERVATION, AND ENERGY ACT 0F 2008

Legislative and Regulatory Support

1616

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. Sustainability

Advanced Biofuels – The Path to Success

1717

Sustainable development marries two important themes: that environmental protection does not preclude economic development and that economic

development must be ecologically viable now and in the long run.

“Meeting the needs of the present without compromising the ability of future generations to meet their own needs.“ 1

Sustainability >>> What is it?

1 The World Commission on Environment and Development – The Brundtland Report - 1987

Improving the Energy Balance

Reducing the impacts of GHG

Reducing the use of water

1818

Sustainability >>> Improving the Net Energy Balance

Sources: Argonne National Laboratory, "Energy and Greenhouse Gas Emissions Impacts of Fuel Ethanol" Presentation, August 23, 2005, and the Brazilian Reference Center on Biomass, "Brazilian Sugarcane Ethanol: Lessons Learned" Presentation, December 2005.

Fossil Energy Ratio (Output/Input)

0123456789

1011

Gasoline Corn Sugarcane CellulosicEthanol

More PositiveNegative

1919

Sustainability >>> While reducing GHG Emissions

Source: Argonne National Laboratory, "Energy and Greenhouse Gas Emissions Impacts of Fuel Ethanol" Presentation, August 23, 2005.

GHG emission reductions per gallon of ethanol to displace an energy-equivalent amount of gasoline

GHG Emission Reduction

0%

20%

40%

60%

80%

100%

E85 FFV: DM Corn Etoh E85 FFV: Cellulosic Etoh

Corn Ethanol

Cellulosic Ethanol

2020

1. A Proven Conversion Process

2. An Abundant, Sustainable and Cost Effective Supply of Feedstock

3. Accessible Biofuels Markets

4. Legislative and Regulatory Support & Clarity

5. A Sustainable System

Making Advanced Biofuels a reality – Five key ingredients: