Richard Melson

August 2006

Greenfuel

www.greenfuelonline.com

Technology GreenFuel's patented Emissions-to-Biofuels™ (E2B™) process harnesses photosynthesis to grow algae, capture CO2 and produce high-energy biomass. The process serves as a flexible platform for retrofitting fossil-fired power plants and other anthropogenic sources of carbon dioxide. Using commercially available technology, the algae can be economically converted to solid fuel, methane, or liquid transportation fuels such as biodiesel and ethanol. Building on a Proven Science Building on many years of work sponsored by the DOE and international agencies, GFT installed its first field unit on a 20 MW cogeneration facility at the Massachusetts Institute of Technology in 2004. Its second, larger unit was commissioned at a 1,060 MW combined cycle facility in 2005 in the southwest United States. The bioreactor productivities suggest annual yields of 5,000-10,000 gallons of biodiesel and a comparable amount of bioethanol per acre. How It Works The Emissions-to-Biofuels™ process is a flexible platform for converting CO2 emissions into a range of renewable fuels. The process is designed to be retrofitted to flue stacks with minimal impact to ongoing operations. The process schematic diagram is shown in the figure above.

GreenFuel Technologies Signs Licensing Agreement With The Victor Smorgon Group VSG to have exclusive license for GreenFuel’s Emissions-to-Biofuels™ proprietary technology in Australia and New Zealand Cambridge, Massachusetts (August 3, 2006) – GreenFuel Technologies Corporation, the leading developer of algae bioreactor systems that recycle CO2 in smokestack gases into clean, renewable biofuels, announced that it has signed a licensing agreement with The Victor Smorgon Group headquartered in Melbourne, Australia. The agreement provides The Victor Smorgon Group with an exclusive license to distribute, install and operate GreenFuel’s Emissions-to-Biofuels™ proprietary technology for growing, harvesting, and processing biomass and products derived from algae throughout Australia and New Zealand. The financial terms of the agreement were not disclosed. Founded in 1995, The Victor Smorgon Group owns and operates a diversified portfolio of companies in Australia and New Zealand. The company has investments in the manufacturing of biodiesel and plastics, aquaculture, and retailing of youth branded clothing. The group also has substantial experience in waste recycling, having successfully implemented recycling processes in the paper, glass, steel, and plastics industries. "The GreenFuel Emissions-to-Biofuels process has tremendous potential as a new source of clean, renewable energy and a solution to a growing greenhouse gas emissions problem," said Peter Edwards, Managing Director of The Victor Smorgon Group. "We look at our partnership with GreenFuel Technologies not only as a good business investment, but as an investment in a healthier environment and greater energy independence for Australia and New Zealand." "The Victor Smorgon Group has put together a talented and experienced management team to drive the GreenFuel Emission-to-Biofuels project development and marketing efforts in an important region of the world," said Cary Bullock, CEO of GreenFuel Technologies Corporation. "We believe the combined engineering talent and industry experience of our two organizations is an excellent formula for accelerated results and a successful partnership." About GreenFuel Technologies Corporation With more than a dozen pending patents, GreenFuel Technologies Corporation is the leading developer of algae bioreaction systems that recycle CO2 from power and manufacturing plant flue gases – converting it to an on-site, continuous supply of biofuel, such as biodiesel, ethanol or methane. The company is headquartered at its 13,000 square foot lab in Cambridge, Massachusetts. GreenFuel Technologies Corporation was founded in 2001 by Isaac Berzin, who now serves as Chief Technology Officer.

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GreenFuel Technologies Corp

GreenFuel Technologies Signs Licensing Agreement With Victor Smorgon Group

Thursday, August 3, 2006