© Copyright 2007- NextEnergy Ltd.

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SOLENAFUELS Sustainable Jet, Diesel & Marine

Fuels from Waste Biomass

June 2012

Waste-to-Energy City Summit 2012 London

© Copyright 2007- NextEnergy Ltd.

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This document is provided for information purposes only on the basis that the recipient keeps it and the existence of any transaction which may result in an investment in Solena Group Inc. (‘Solena’) (the ‘Transaction’) confidential and that it is not photocopied, reproduced or distributed to others in whole or in part. This document does not constitute an offer or invitation for the sale or purchase of any securities, businesses and/or assets or any recommendation or commitment by Solena or any other person or entity. No person may purchase any of the securities referred to in this document without first obtaining and reviewing a copy of the Confidential Business Plan. Any prospective purchaser interested in purchasing any securities in Solena should seek its own independent legal, tax and financial advice. The information in this document has not been verified by Solena or any other person or entity. No representation or warranty, express or implied, is or will be made in relation to, and no responsibility, liability or duty of care is or will be accepted by Solena, any directors, partners, officers, representatives, employees, advisers or agents of Solena (‘Relevant Persons’), or any other person or entity, as to, or in relation to, the accuracy, reliability, or completeness of this document or any information herein. Accordingly, none of Solena, any Relevant Persons or any other person or entity shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on the accuracy of any information or any statement in this document or any errors or omissions in this document. No responsibility, liability or duty of care will be accepted by Solena, any Relevant Persons or any other person or entity for providing the recipient with access to any additional information, updating this document or in correcting any inaccuracies herein which may become apparent. This document is only being made available to interested parties on the basis that: (A) if they are UK persons, they are persons falling within Articles 19 or 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005; (B) if they are US persons (as defined in Regulation S under the Securities Act of 1933, as amended (the ‘Securities Act’), they are ‘accredited investors’ as defined under Rule 501(a) under the Securities Act who represent that they are participating in the Transaction for their own account for investment purposes only and not with a view to resale, who are willing and able to conduct an independent investigation of the risks of participation in the Transaction and who will be required to represent that they are participating in the Transaction for investment purposes; or (C) they are outside the United Kingdom are not US persons (as defined in Regulation S under the Securities Act) and are eligible under local law to receive this document (all such persons collectively being referred to as ‘Intended Recipients’). Recipients of this document in jurisdictions outside the UK who are not US persons should inform themselves about and observe any applicable legal requirements. By accepting this document you represent and warrant that you are an Intended Recipient. This document must not be acted on or relied upon and should be returned to Solena by persons who are not Intended Recipients. Any investment or investment activity to which this communication relates is available only to Intended Recipients and will be engaged in only with Intended Recipients. Forward-looking statements: All statements, other than statements of historical fact included in this document, are or may be deemed to be forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements include statements regarding, among other things, Solena's results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Solena operates. The use of the words ‘expects’, ‘intends’, ‘anticipates’, ‘estimates’, ‘may’, ‘forecast’, ‘objective’, ‘plan’ or ‘target’, and other similar expressions are intended to identify forward-looking statements. No representation or warranty is given as to the completeness or accuracy of the forward-looking statements contained in this document. These statements reflect only our current expectations. Although Solena does not make forward looking statements unless it believes that it has a reasonable basis for doing so, these forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include but are not limited to: adverse trends in the general economy, business conditions or interest rates; Solena’s ability to anticipate customer requirements; the reputation of Solena and its trading names, together with the success of Solena's marketing and promotional programmes; the ability to recruit, train and retain staff; and the suitability and reliability of Solena’s systems and procedures, including its information technology and other technology. Solena’s actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. Solena can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them do, what impact they will have on Solena’s results of operations and financial condition. Solena does not intend, and does not undertake any obligation, to update any forward looking statement.

Before We Begin

important notice

© Copyright 2007- NextEnergy Ltd.

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Executive Summary – the Challenge/Headwinds confidential

NEEDED: Drop-in, certified fuel requiring no engine or infrastructure modifications; requires no subsidies; is market

competitive; does not compete with crops/farmland

Fuel currently derived from expensive, price volatile petroleum

Petroleum is a carbon heavy source of energy

Jet crack and ULSD spreads are widening

CO2 reduction schemes not achievable without biofuels

Unstable Supply Chains for Crude

GTL and CTL still carbon intensive

Jets can not switch to non-liquid sources of energy

Market is looking for truly sustainable solutions at unsubsidized market prices

NEEDED: ultra low sulphur fuels

© Copyright 2007- NextEnergy Ltd.

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Biofuels represents key pathway for airlines

Roadmap confidential

Source: IATA

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Industry Challenges confidential

↑ Crack Spreads

Low Expectations for Change in Trend lines

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industry is embracing new means of addressing the challenges & risks

Industry Response confidential

• Co-developing project with Solena in London

• Invested in alcohol to jet company • Rights to fuel production

• $220 million purchase/commitment of/to a petroleum refinery in attempt to capture crack spreads

• Significant vertical integration risk • Does not address sustainability

• Signed onto Solena platform:

© Copyright 2007- NextEnergy Ltd.

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FT fuels certified and in use today

Synthetic Fuels confidential

Coal

Nat. Gas

Biomass

Fluidized Gasification

Reformation

Solena Proprietary High Temperature

Gasification

Solena technology extends synthetic fuels industry to include biomass (BTL); a sustainable source of liquid fuels

Means of converting energy into SynGas

Energy source

SynGas Fischer Tropsch

Synthesis

Upgrading

All produce SynGas which is converted into liquid fuels

Drop-in liquid fuels

“BTL”

“GTL”

“CTL” CTL & GTL in

extensive use today

All three processes produce a syngas (CO & H2) at various

ratios

© Copyright 2007- NextEnergy Ltd.

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high value outputs, feedstock flexibility

Solena BTL Solution confidential

WASTE BIOMASS 590k mT

Agricultural Waste Urban Waste Wood Waste

BioSynGas Clean up and Conditioning

Fischer-Tropsch Reactors FT Products Off/Tail Gas

Steam

Gasifiers

Power Block

Controls & Instrumentation

730 mbbl Jet/Diesel

MW to grid MW to plant

`

FT Product Upgrading

SUSTAINABLE , DROP-IN, CERTIFIED FUELS

219 mbbl Naphtha

© Copyright 2007- NextEnergy Ltd.

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Our Customer Pipeline confidential

signed letters of intent for jet or diesel offtake

Marine Co (undisclosed)

Eastern EU Airline (undisclosed)

© Copyright 2007- NextEnergy Ltd.

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a unique partnership to bring a truly sustainable facility to London

GreenSky London confidential

• Committed co-development partner • Agreed to purchase all liquid fuels from project

• SPE created to build, own and operate the project • BA & Solena will be shareholders

• Lead developer of project • H0lder of key enabling technology • Creator of the integrated BTL solution

• World’s leading biofuels EPC • Extensive experience in Fischer Tropsch industry • Agreement to undertake Pre-FEED and FEED

© Copyright 2007- NextEnergy Ltd.

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SOLENAFUELS Sustainable Jet, Diesel and Marine

Fuels from Waste Biomass