4Rivers - Project Overview

Integrated BioEthanol and Biodisesel - Key Competitive Advantage

4Rivers intends to build its first plant in Calvert City, Kentucky to concurrently produce both BioEthanol and BioDiesel using an integrated process.

The combination of the BioEthanol and BioDiesel production provides a hedge against single commodity risk. Potential for further technology synergies between the two processes should reduce the overall cost base of the facility. The breakeven levels of the combined units are comparatively very low in today’s market place, enabling the business to withstand considerable sensitivities.

4Rivers expects to start BioDiesel production using Soy oil as the primary feedstock. Once BioEthanol production commences, corn oil extracted from a front end fractionation process may form a low cost proportion of the BioDiesel feedstock requirement. This equates to around 26,500 tons per annum of 4Rivers corn oil which can be refined to BioDiesel or sold directly into the raw corn oil market, as economics dicate. Removal of this oil also adds value to the finished Dried Distillers Grains ("DDG") co-product, which can be marketed as higher value animal feed.

Future Project Enhancements

4Rivers does not intend to stand still. Whilst state of the art today the Calvert City site and technology to be employed offer considerable scope for enhancement and increased profitability.

Doubling of the Project capacity to 260 MMGPY BioEthanol and 70 MMGPY BioDiesel. With the main infrastructure in place the marginal cost of expanding the size of the BioEthanol plant is far less than new build.

Cellulosic BioEthanol production (from non-grain feedstocks) once this new bio-technology in advanced trials is commercially proven.

Production of BioButanol, an emerging biofuel produced by a fermentation process similar to BioEthanol.

Increasing BioDiesel capacity to service increased anticipated local demand when high sulphur diesel is phased out.

Research into use of microwave to enhance the quality of DDGS and reduce cost of energy to remove moisture when producing DDGS Optimisation and use of alternative boiler furnace fuel such as coal, biomass, municipal waste to reduce energy costs.

Revenues from third party users as result of the operation of the 4Rivers Port.