Projects

Our primary business activities are focused on acquiring, developing and operating a growing portfolio of biomass to electricity power generation facilities utilitizing wood waste as the predominant fuel source to generate clean, renewable power. We sell the electrical (and, in some cases, the steam) output from our facilities to local utilities and /or industrial customers.

Our current facilities are described below:

• Commercial operations of our Snowflake White Mountain Power (Snowflake) power generation facility commenced June 10, 2008. This 24 MW biomass plant, located near Snowflake, Arizona, burns a combination of wood waste from surrounding forests and local green waste sites along with recycled paper sludge from an adjacent newsprint mill to generate enough electricity to power 24,000 homes.
• In November 2007, we acquired an idle 13 MW biomass plant located in Susanville, California. We currently estimate this plant could be fully operational by early 2010, subject to the prospects and timing associated refurbishing the plant, obtaining various operating and environmental permits, securing necessary fuel sources at a cost-effective rate, entering into a power purchase agreement for the power output of the plant, and other activities necessary to restart and operate the plant.

Multiple biomass to electricity projects totaling in excess of 1,000 MW of power output have been identified as our targeted growth opportunity and are currently being explored. These opportunities include acquisitions of existing facilities (both operating and idle) as well as new greenfield projects in various locations across North America.