Phoenix Greenworks Overview, September, 2010

1. PHOENIX GREENWORKS CAPITAL LIMITED
Business Overview
September, 2010

2. Phoenix Greenworks Capital Limited
Phoenix Greenworks Capital Limited (“PGC”) is a subsidiary of Phoenix
Partners Group, a leading credit and equity derivatives interdealer broker with
offices in New York, London and Paris.
PGC is a renewable energy focused financial services firm that partners with
local developers to provide sector and financial markets expertise. PGC targets
projects in Europe, Asia and the Middle East and enters projects at various
stages to bring them to fruition.
PGC’s strength and market edge is drawn from the breadth and depth of
experience of their team, their knowledge and network of expert partners in the
field of renewable energy coupled with their key in-country relationships.
PGC’s mission and objective is to assure delivery of robust, sustainable and
environmentally compliant infrastructure projects in regions where they are in
demand and supported by the respective governments and constituencies.

3. PGC understands the particular structure of renewable
energy projects and the strong contractual underpinnings
Bank PGC and parent company Phoenix Partners
Finance
Group have an expansive network of financial
Equity Operations partners and relationships including:
Investor
• High net worth individuals
Debt
Finance • Private equity funds
O&M • Hedge funds
Equity
Sponsor Contract • Commercial banks
• Global investment banks
EPC Project Subsidies
Builder and Loan Government
Contract Company Support
PGC have the experience and relationships to
Power
Feedstock
Purchase
facilitate each aspect of a project including:
Agreement
Agreement • Government bodies
Off take • Financial institutions
Agreement
Fuel Power • Technology developers
Supplier Purchaser • Engineering firms
Fuel • Operations management companies
Consumer
• Fuel suppliers
• Energy consumers

4. PGC’s in house capabilities and Phoenix’s
broader capital markets offerings – a broad
foundation for project facilitation
Phoenix Partners Group
Legal expertise Fully fledged
Project
project ready
origination
Financial modeling for marketing
details from
to investment
developer PGC community
Project management
Technical expertise
• Financial markets
• Commodities markets
• Renewable energy markets
• Compliance

5. PGC Team
Simon Thorne – Managing Director
.
Simon is based in London and is a lawyer by training and heads up business development. Simon was
legal compliance director at SITA UK (a leading global waste management company), founder of
Climate Finance, chairman of the EIN Environmental Investment Network, chairman of the
Environmental Specialty Group of TAG law, and chairman of Forbury Environmental, an environmental
consultancy. Simon has been involved in high profile waste to energy projects and has provided advice
on their construction and operations across a range of technology solutions including incineration,
anaerobic digestion, gasification and mechanical heat treatment.
Bill Parkhurst – Managing Director
Bill is based in New York City and heads up the project finance side of PCG . He has over 25 years
experience in the financial services industry in risk management, institutional sales, trading,
underwriting and e-commerce. His previous roles included head of fixed income e-business and
strategic investments and head of business development at UBS Investment Bank, MD at BondDesk
Group where he developed and managed their institutional trading platform, MD at US Bancorp / Piper
Jaffrey in the role of muni bond institutional sales, and principal at Smith Mitchell Investment Group in
the role of head of sales and trading.
Graham Smith - Managing Director / Phoenix Partners Group
Graham is a partner in PGC’s parent company is based in London and is closely connected with the
Phoenix organization and operation. Graham has a track record of starting up successful brokerage
businesses, including Axiom Global (London office), Mint Equities (Fixed Income business). In 2006
Graham co-founded the London business of Phoenix Partners Group, a leading global inter-dealer
broker. Graham is also an ex-Olympian.

6. PGC Team
Thomas Lumsden – CFA, PGC Business Advisor
.
Thomas works out of Los Angeles, CA and is the managing member of TL Capital Group. Thomas
assists PGC in securing finance for their projects. Prior to founding TL Capital, Thomas was a Partner
with Promethean Asset Management and headed their deal origination, structuring, pricing and
negotiation for the direct lending business and was solely responsible for opening and managing
Promethean’s European operation. Promethean had assets under management of approximately $600
and successfully closed over 70 deals.
James Wang – CFA, Senior Financial Analyst
James is based in New York City and has more than 10 years experience in the financial services
industry covering equity analysis, investment banking and corporate finance. James has a Bachelor of
Economics degree from the Beijing International Studies University and a MBA with majors in finance
and accounting from the Wharton School, University of Pennsylvania.
Mignonne Khazaka – Lawyer, Commercial Analyst
Mignonne works out of PGC’s London offices and handles the commercial and legal negotiations for
the projects. She is a lawyer, qualified to practice in both English and Scottish Law, and holds a
Masters in Construction Law along with a BA in Accounting. Mignonne has over 8 years experience in
preparing and negotiating construction documentation for commercial and industrial developments,
power purchase agreements, energy take-off agreements, infrastructure servicing agreements, and
contracts with the utility companies for the sale/supply of energy and community energy schemes.
During her legal career she acted for a number of major banks and financing institutions advising on
commercial developments and infrastructure projects.

7. PGC Team
Ali Rahman – Global Business Development
.
Ali is based in New York City and focuses on the origination of projects in the Middle East, Africa and
the Caribbean. An attorney by training, Ali was an associate in the Corporate & Securities and Finance
practices at Pillsbury Winthrop Shaw Pittman LLP prior to joining Phoenix. His practice focused on
project finance and M&A in the energy industry. Prior to law school, Mr. Rahman was employed at the
International Crisis Group, an independent non-governmental organization working through field-based
analysis and high-level advocacy to prevent and resolve deadly conflict. He has also served at the
Palestinian Authority Negotiations Affairs Department directly under the supervision of current
Palestinian President Mahmoud Abbas, assisting in the research and preparation of strategy for the
Palestinian-Israeli peace talks. He received his bachelors in Philosophy and Foreign Affairs from the
University of Virginia and his Juris Doctorate from Columbia University School of Law.

8. PGC Project focus
2009 – TO DATE

9. Poland – WTE and Wind
Waste to Energy
• PGC’s pipeline of projects at inception, June 2009, was largely based in Poland due to
Simon Thorne’s development work in central and eastern Europe prior to starting PGC
• In 2009 Simon Thorne joined PGC and is currently managing the development work for
a pyrolysis / gasification plant situated in Southern Poland. The project has reached
financial close and is now under construction
• PGC is now in talks with several municipalities to provide the project expertise,
technology and finance to install solutions to the waste problems facing many regions
in Poland
Wind
• PGC has developed a network of relationships from which have emerged renewable
energy opportunities – these have sprung from PGC’s commitment to be seen on the
ground in Poland
• PGC is partnering with a Polish utility to help it build out its generation of electricity from
wind over the next ten years. This partnership is anticipated to produce hundreds of
MWs of wind generation capacity being designed, permitted, financed and built, all
using PGC’s expertise

10. Biomass – Wood-CHP, Pelletising, Bio-compost
UK – property and EFW site
• PGC expects to reach financial close in Q3 2010 for an EFW site on a property that has
the potential for Cross technology Renewable Energy (solar / EFW)
UK – biomass cogeneration and pelleting plants
• PGC is negotiating exclusivity to raise the finance for a PGC-designed proposal made
for a biomass CHP plant and pelleting business in England
Egypt – pelleting plant
• PGC has the role of developer in a rice straw pelleting plant in Egypt, delivering
renewable fuel to the international biomass market and helping solve a rice straw waste
problem in Egypt
Bio-Compost
• In tandem with a proven bio-composting technology, PGC is developing bio-composting
sites in areas of the world where a demand for inexpensive fertiliser and mounting
waste problems are converging. PGC is currently working on bio-compost projects in:
• Dominican Republic
• Pakistan
• Morocco