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Offshore Ports LLC

Michael Piersol, CEO 800 NE Tenney Road, Suite 110/449 Vancouver, WA 98665 1.360.991.9422 mpiersol@offshoreports.com. Offshore Ports LLC. Time to Replace Petroleum. An OTEC Solution for sustainable electrical power in Hawaii. Agenda. 1. Introductions. 2. Today’s Energy Challenges.

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Offshore Ports LLC

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  1. Michael Piersol, CEO800 NE Tenney Road, Suite 110/449Vancouver, WA 986651.360.991.9422mpiersol@offshoreports.com Offshore Ports LLC

  2. Time to Replace Petroleum An OTEC Solution for sustainable electrical power in Hawaii

  3. Agenda 1. Introductions 2. Today’s Energy Challenges 3. The OTEC Power Solution 4. Pure Hydrogen via OTEC

  4. Hawaii’s Challenges Oil & Energy Impacts Hurdles Resolve • CO2gas • Emissions • Ecosystems • Water • Air quality • Economic • Growth • Funding • Innovation • Regulation • Efficiency • Technology • Consensus • Legislation • Motivation • Cooperation • Incentive • Resolution • Dependence • Escalating • Price • Disruption • Volatility

  5. Available Energy Sources

  6. SOLUTION • OTEC Power • Big Island Co-Op • HB3222 • Credit Based Funding • Strategic Alliance • 18CFR Part 292 & 210 of the Public Utility Policy Act 1978

  7. The Process • The Platform Group • Build, own, operate • Sell Power • To Co-Op at cost • Excess power to HECO at avoided cost • Hawaii Mandate – hydro-trans policy • New Hydrogen Corp Formed • Production, Storage Delivery of Hydrogen – OTEC power for production • Lease funding for buses and cars

  8. OTEC Energy Cycle Sustainable Energy Legislation Power Agreements Produce Hydrogen The OTEC Project OTEC Delivery Retire Oil plants

  9. The Innovation of Enabling Technologies 1984 - Dr. Alfred A. Yee develops the Concrete Island Drilling System (CIDS) platform, utilizing reinforced concrete in a honeycomb structure 1991 - Float, Inc. develops the Pneumatically Stabilized Platform (PSP) 1985-1995 - Dr. Hans Krock and his associates at OCEES International, Inc. and their corporate partners developed patents and proprietary information for Ocean Thermal Energy Conversion 2004 - Offshore Ports facilitates the integration of the CIDS and PSP technologies for the creation of large floating structures and ocean real estate

  10. Organization

  11. Hydrogen

  12. Funding Matrix

  13. Credit Based Financing • 100% Debit Financing Utilizing Credit of Off-Take Partner, Co-Op, Investor Group • Irrevocable Cash Collateral Pledge • Specialized Performance Based Insurance • Balance Sheet Neutral • 5 M Upwards 25 Year Project Life

  14. Ingredients for Success OTEC Technology HECO Partnership Funding/ Insurance Government Partnership Co-Op Partners PSP Technology

  15. Actions Required • Development Team To; • Secure PPA /COTA Agreements • Establish Cooperative • Finalize Essential Credit Based Funding Group • Capitalize FEED Process

  16. Actions Required • State Of Hawaii To; • Define, Endorse & Amend 18 CFR 292 • Increase Capacity to 100 MW • Allow Same Site Production Of 100 MW • HB3222 Hydrogen Vehicle Mandates • Underwrite Leasing Program • Promote Cooperation With HECO

  17. Actions Required • Hawaii Electric Company To; • Finalize PPA With Co-Op • Secure Agreement For Transmission & Distribution System For Co-Op W/O Additional Surcharge • Partner In Hydrogen “NewCorp”

  18. Objectives • Creating Initial & Future H2 Infrastructure • Renewable Green “Base Load” Power • Pilot Program For Micro Distribution • Eliminate Future Price Impacts For Oil • RPS By 20/20 • Reduce Global Warming • Hawaii To Be The Pioneer Of “Green Energy” • Underwritten By Public / Private Partnership • On Line In 2010

  19. The OTEC Plan Phase 1 Phase 2 Phase 3 • OTEC Power • Hydrogen • Replace petroleum power generation • Energy independence • Agreements • Legislation • Tax Incentives • Funding • Insurance • FEED • Design • Approvals • Construction • Certification

  20. Timelines

  21. Initiation

  22. Implementation

  23. Operation

  24. Capacity Payment Plan

  25. Power Distribution

  26. A Future Without Oil Energy Independence Electricity Transportation OTEC Hydrogen

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