S liculture

Carley Corrado(EL)

Sue Carter(PI)

Glenn Alers(IM)

Number of

Customers98

Products that enable greater land productivity— electricity generation AND agriculture —

with PV installations over food, biofuel, water, and flower crops

http://www.youtube.com/watch?v=PDfS2rOCzXg&feature=youtu.be

Story Video

Increased ProfitsSales & Marketing

Manufacturing

Product Design

Installations

Sales Channels

Material Suppliers

Contract Manufacturers

Cost Reduction

Improve BrandingIntellectual Property

Employee Expertise

Facilities

Reduce Risk

Custom Design

Direct Sales

Product Sales

Product Leasing

Service Contracts

Material Expenses

Contract Manufacturing

Fixed Costs

Soliculture – Initial Canvas

Personal Assistance

Communities

Greenhouse Growers

Farmers

Utilities

GovernmentsGreater Productivity

Growers

Partner Sales

Installers

Technical support

Soliculture Customer Discovery: Face to faceShafer ZD Wines

RieterJacobs FarmPP& SuncrestKB FarmsFour Winds

Rocket FarmsMatsui Green ValleyFloricultura

Belmont

HouwelingGrolinkFloranovaWindsetEverbloomOcean BreezeMaximumSun Valley GroupEurofloriaWesterlay

AltmanPaul Ecke Ranch

ColoramaNurserymans

Customer Discovery by Phone: Kula Dave’s Tomatoes, Greenheart Farms, Village Farms, Abalone Farm, Sun Valley Group (Arcata), Green Fields Forever, Takao Nurseries, Speedling, Colorspot, Hilo Orchid Farm, Hawaiin Orchid Nursery, Aikane Nursery, Monsanto, Hollandia, Plant It Hawaii

What some of our Customers are Telling Us

Company Main Crop

Annual Electricity $

Desired Pay Back years Comments

Four Winds citrus $6000 5 Trial at UCSC, NewShafer & ZD Wines grapes ~$50,000 4 to 20 NewSun Valley Group Variety/Gerbera $200,000 5 Trial, RetrofitEverbloom Berbera $34,000 5 Trial, RetrofitHouweling tomatoes $400,000 10 Trial, RetrofitReiter Berries Unknown 3 to 5 Trial, NewGrolink Pointsettas $100,000 5 Trial, RetrofitAltman Plants variety Unknown 3 Trial at Non-ProfitPaul Ecke Ranch Pointsettas Unknown <7 RetrofitBelmont Nursery variety $50,000 4 to 8 years RetrofitJacobs Farm herbs $50,000 3 to 5 Trial, RetrofitGreen Valley roses $150,000 <5 years RetrofitWindset Farms tomatoes Unknown 6 max Retrofit + NewFloricultura Orchid media $34,000 5 RetrofitKB Farms Cut flowers Unknown 5 Trial, RetrofitRocket Farms diverse $400,000 5 Trial, RetrofitNurseyman Exch flowers $1,000,000 5 Trial, Retrofit

Majority of customers are telling us: 5-year payback, retrofit, and data on how panels impact their plants will be required prior to purchasing.

Nurseryman’s Exchange

$1 million/year Electricity Bill“It should be illegal how much electricity we use.”

Lighting for mini roses:

100 W/m2

Increased Profits

Sales & Marketing

Manufacturing

Product Design

Installations

Material Suppliers

Contract Manufacturers

Theft/Vandalism protection

Intellectual Property

Employee Expertise

Facilities

Direct Sales

Product Sales

Product Leasing

Service Contracts

Material Expenses

Contract Manufacturing

Product Trial Installations

Soliculture – iteration

Personal Assistance

Communities

Greenhouse Growers

Farmers

Utilities

Greater ProductivityGrowers

Partner Sales

Technical support

Lower-cost clean Electricity

GovernmentsGH ManufacturersAg DistributorsPV InstallersAg/PV Financers

Plant Trial Data

Governments

Installers

Improve Branding

Reduce Risk

Custom Design

World Map of our Customers

CA #1$0.12 kWh

FL #2$0.05 kWh

TX #3$0.05 kWh

US Average$0.10 kWh

Hawaii$0.23 kWh

Japan$0.42 kWh50,000 hectares

Europe$0.20 kWh - $0.40 kWh>100,000 hectares

US$0.10 kWh5,000 hectares

Putting Numbers to the Value Propositions

Power Type Average $/kW-hr

Installed System Cost $/m2

30% ITC + other incentives

Net System install cost $/m2

Annual Electric$/m2

Annual Deprec$/m2

Pay Back years

(PV Only)

Pay Back years

+$5/m2 crops

PG&E Net-metering 0.12 100 40 60 11 3 4.3 3.2Hawaii Net-meter/FIT 0.25 110 36 74 23 4 2.7 2.3PG&E Feed-in Tariff 0.10 80 34 46 9 2 4.2 NA

Japan Feed-in Tariff 0.42 120 NA 120 29 NA 4.1 3.5

We have two main customers:1) Growers who want to zero out their power bills (Net-metering).

2) Growers who want to make money from their land through power-purchase (Feed-in Tariff).

Higher prices in Hawaii/Japan represent higher transport and channel costs.Even with <5 year pay-back, upfront costs are high ($200,000 for a 100 kW system).Some growers can’t afford this unless we provide financing or leasing options.

Soliculture Payment Flow

Farmers$80 to $120/m2

Nursery Wholesalers$100 to $200/m2

Soliculture: Solar Solutions for Ag Industry Product Cost: <$1.6/W installed ($64 to $160/m2) Selling Price: $2.0/W installed ($80 to $200/m2)

Materials Suppliers $28 to $74/m2

vGreenhouse Manufacturers 10 to 25% cut

ContractManufacturer $5 to $40/m2

Agriculture Suppliers 10% to 25% cut

Financers $1 to $5/m2

Electronics Supply+ Install Labor $10 to $35/m2

Cost of partner channels may be too high for most US markets to meet value proposition and assure profit.

PV financers will allow us to sell product to growers who can’t afford high upfront payment

Installation of panels will largely be doneby growers, eliminating this cost.

Increased Profits

Sales & Marketing

Manufacturing

Product Design

Installations

Material Suppliers

Contract Manufacturers

Theft/Vandalism protection

Intellectual Property

Employee Expertise

Facilities

Direct Sales (retrofit & US)

Product Sales

Product Leasing

Service Contracts

Material Expenses

Contract Manufacturing

Product Trial Installations

Soliculture Final

Personal Assistance

Communities

Greenhouse Growers

Farmers

Utilities

Greater ProductivityGrowers

Partner Sales (new & International)

Technical support

Lower-cost Electricity

Governments &Solar Lobby Groups GH Manufacturers

Ag DistributorsAg/PV FinancersPV Installers

Plant Trial Data

Financers

Soliculture Market Size1,2,3

1Farm and Ranch Irrigation Survey (2003), USDA, Issued November 20042Existing Greenhouse area in m2 * $120/m2 (Europe and Japan)3Does not include China, South Korea, Australia, Africa, Middle East, Canada, Russia, India, South America or large Solar Power Plant installations

Annual TAM (in billions)

US Greenhouse

US Crop Covers

Japan Greenhouse

Europe Greenhouse

Annual Target (in millions)

0.3B

30B 10B

10B15M

100M

100M300M

S licultureSoliculture’s price: $2/W installed

Competitor’s price: >$3/W installed

Lower costs achieved through free land, free frame, free glass, replacing expensive PV and installation labor