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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

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

Offshore Ports LLC

time to replace petroleum

Time to Replace Petroleum

An OTEC Solution for sustainable electrical power in Hawaii

agenda
Agenda

1. Introductions

2. Today’s Energy Challenges

3. The OTEC Power Solution

4. Pure Hydrogen via OTEC

hawaii s challenges
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
solution
SOLUTION
  • OTEC Power
  • Big Island Co-Op
  • HB3222
  • Credit Based Funding
  • Strategic Alliance
  • 18CFR Part 292 & 210 of the Public Utility Policy Act 1978
the process
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
otec energy cycle
OTEC Energy Cycle

Sustainable Energy

Legislation

Power

Agreements

Produce

Hydrogen

The OTEC Project

OTEC

Delivery

Retire

Oil plants

the innovation of enabling technologies

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

credit based financing
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
ingredients for success
Ingredients for Success

OTEC Technology

HECO

Partnership

Funding/

Insurance

Government

Partnership

Co-Op

Partners

PSP Technology

actions required
Actions Required
  • Development Team To;
  • Secure PPA /COTA Agreements
  • Establish Cooperative
  • Finalize Essential Credit Based Funding Group
  • Capitalize FEED Process
actions required1
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
actions required2
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”
objectives
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
the otec plan
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
a future without oil
A Future Without Oil

Energy Independence

Electricity

Transportation

OTEC

Hydrogen