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HomeMy WebLinkAboutWave Energy GrantApplication5 Atmocean 082311 Renewable Energy Fund Round 5 Grant Application AEA 12-001 Application Page 1 of 31 7/1/2011 Application Forms and Instructions The following forms and instructions are provided to assist you in preparing your application for a Renewable Energy Fund Grant. An electronic version of the Request for Applications (RFA) and the forms are available online at: http://www.akenergyauthority.org Grant Application Form GrantApp5.doc Application form in MS Word that includes an outline of information required to submit a complete application. Applicants should use the form to assure all information is provided and attach additional information as required. Application Cost Worksheet Costworksheet 5.doc Summary of Cost information that should be addressed by applicants in preparing their application. Grant Budget Form GrantBudget5. doc A detailed grant budget that includes a breakdown of costs by milestone and a summary of funds available and requested to complete the work for which funds are being requested. Grant Budget Form Instructions GrantBudgetIn structions5.doc Instructions for completing the above grant budget form. Authorized Signers Form Authorized signers form5.doc Form indicating who is authorized to sign the grant, finance reports and progress reports and provides grantee information.  If you are applying for grants for more than one project, provide separate application forms for each project.  Multiple phases for the same project may be submitted as one application.  If you are applying for grant funding for more than one phase of a project, provide milestones and grant budget for completion of each phase.  If some work has already been completed on your project and you are requesting funding for an advanced phase, submit information sufficient to demonstrate that the preceding phases are satisfied and funding for an advanced phase is warranted.  If you have additional information or reports you would like the Authority to consider in reviewing your application, either provide an electronic version of the document with your submission or reference a web link where it can be downloaded or reviewed. REMINDER:  Alaska Energy Authority is subject to the Public Records Act AS 40.25, and materials submitted to the Authority may be subject to disclosure requirements under the act if no statutory exemptions apply.  All applications received will be posted on the Authority web site after final recommendations are made to the legislature.  In accordance with 3 AAC 107.630 (b) Applicants may request trade secrets or proprietary company data be kept confidential subject to review and approval by the Authority. If you want information is to be kept confidential the applicant must: o Request the information be kept confidential. o Clearly identify the information that is the trade secret or proprietary in their application. o Receive concurrence from the Authority that the information will be kept confidential. If the Authority determines it is not confidential it will be treated as a public record in accordance with AS 40.25 or returned to the applicant upon request. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 2 of 31 7/1//2011 SECTION 1 – APPLICANT INFORMATION Name (Name of utility, IPP, or government entity submitting proposal) Atmocean, Inc. Type of Entity: IPP Fiscal Year End. Dec 31. Tax ID # 87-0759120 Tax Status: X For-profit or non-profit ( check one) Mailing Address 607 Cerrillos Rd Santa Fe, NM 87505 Physical Address Same Telephone 505-310-2294 Fax None Email atmocean.kithil@gmail.com 1.1 APPLICANT POINT OF CONTACT / GRANTS MANAGER Name Philip W. Kithil Title CEO Mailing Address Same as applicant company Telephone Same Fax Email Same 1.2 APPLICANT MINIMUM REQUIREMENTS Please check as appropriate. If you do not to meet the minimum applicant requirements, your application will be rejected. 1.2.1 As an Applicant, we are: (put an X in the appropriate box) An electric utility holding a certificate of public convenience and necessity under AS 42.05, or X An independent power producer in accordance with 3 AAC 107.695 (a) (1), or A local government, or A governmental entity (which includes tribal councils and housing authorities); Yes 1.2.2. Attached to this application is formal approval and endorsement for its project by its board of directors, executive management, or other governing authority. If the applicant is a collaborative grouping, a formal approval from each participant’s governing authority is necessary. (Indicate Yes or No in the box ) Yes 1.2.3. As an applicant, we have administrative and financial management systems and follow procurement standards that comply with the standards set forth in the grant agreement. Yes 1.2.4. If awarded the grant, we can comply with all terms and conditions of the attached grant form. (Any exceptions should be clearly noted and submitted with the application.) Yes 1.2.5 We intend to own and operate any project that may be constructed with grant funds for the benefit of the general public. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 3 of 31 7/1//2011 SECTION 2 – PROJECT SUMMARY This is intended to be no more than a 1-2 page overview of your project. 2.1 Project Title – (Provide a 4 to 5 word title for your project) Type in your answer here and follow same format for rest of the application. Wave Energy / Sequestration Technology (acronym “WEST” used hereafter) 2.2 Project Location – Include the physical location of your project and name(s) of the community or communities that will benefit from your project. Location – latitude and longitude or street address or community / communities served: Approx 2 miles offshore from Cannon Beach in Yakutat, AK. Latitude 59°28'21.96"N, Longitude 139°45'28.75"W. 2.3 PROJECT TYPE Put X in boxes as appropriate 2.3.1 Renewable Resource Type Wind Biomass or Biofuels Hydro, including run of river Transmission of Renewable Energy Geothermal, including Heat Pumps Small Natural Gas Heat Recovery from existing sources X Hydrokinetic Solar Storage of Renewable Other (Describe) 2.3.2 Proposed Grant Funded Phase(s) for this Request (Check all that apply) Reconnaissance X Design and Permitting Feasibility X Construction and Commissioning Conceptual Design 2.4 PROJECT DESCRIPTION Provide a brief one paragraph description of your proposed project. Atmocean proposes to deploy 600 of our Wave Energy/Sequestration Technology (“WEST”) devices about 1-2 miles off Cannon Beach near Yakutat, Alaska to generate up to 90% of Yakutat’s annual kWh, at projected fuel cost savings of 44%. Payback for this project is estimated at about 4 years. WEST devices convert wave energy into hydraulic pressure which is transmitted by seafloor hose then onshore pipe or hose (as appropriate) to hydraulic motors driving existing electrical generators – avoiding the high cost of seafloor electrical cable, and utilizing existing onshore generation, transmission, and distribution. Using this hybrid system architecture, WEST provides primary generation and the existing diesel system provides backup and peak generation. 2.5 PROJECT BENEFIT Briefly discuss the financial and public benefits that will result from this project, (such as reduced fuel costs, lower energy costs, etc.) RELIABILITY. By incorporating WEST with Yakutat’s existing diesel system, a high level of reliability is achieved. “Flip the switch and the lights come on.” Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 4 of 31 7/1//2011 REDUCE DIESEL CONSUMPTION. This hybrid system should reduce Yakutat’s diesel consumption by up to 90%, since the wave energy is free. REDUCED COST PER KWH. Under the assumption that diesel average costs will go up 10% per year, and that Yakutat Electric’s transmission & distribution costs remain level at about $0.15 per kWh, we estimate cost savings per kWh over 50% by 2019: LOCAL CONTROL. By substantially severing its susceptibility to oil price increases dictated largely by the Middle East and world politics, Yakutat will have much greater control over its own destiny. DURABILITY. The WEST architecture is designed to survive extreme weather events:  Both ends of each connected array of 50 WEST devices are secured with slack moorings; and each 10th WEST device has a safety mooring - providing “give” with changing currents and ocean conditions, while maintaining relative position.  These buoys submerge in waves greater than about 12’ height, providing stress-limiting to protect against connector or component failure. SAFETY. The hydraulic pressure lines between WEST devices are 20’-30’ deep (allowing ship passage); the only surface components are the WEST buoys spaced 100’ apart. Each buoy comes with USCG lighting and radar reflectors for all-weather visibility. REDUCED CONSUMER ELECTRIC BILLS. Once the WEST modest upfront costs are amortized, consumers can expect to see year-to-year reductions in the cost paid per kWh. LOW OPERATING COSTS. Since the wave energy is free, operations costs are very low. EASE OF MAINTENANCE. Each WEST device is modular, therefore the system is not compromised by occasional failure of individual units or components. Because any faulty components are field-replaceable, costs are kept low. ECONOMIC GROWTH. Yakutat’s high electric costs have been a key factor in residents moving away. By stabilizing and reducing electric rates, people can afford to stay in Yakutat, those who left may return, and the local economy will improve. 0% 10% 20% 30% 40% 50% 60% 2013 2014 2015 2016 2017 2018 2019 Yakutat Projected Savings In Energy Cost/kWh Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 5 of 31 7/1//2011 PAYBACK PERIOD. Atmocean WEST cost recovery is during the 4th year after deployment – one of the quickest payback periods of any renewable energy technology. THE ENERGY SOLUTION FOR ALASKA. For remote coastal communities with year round ice-free ocean, WEST can be scaled down to as few as 50 devices, to achieve much lower cost of electricity. This is ideal for remote coastal villages such as found in the Aleutians as well as the Alaska Peninsula and Southeastern Alaska. SEASONAL BALANCING. Equally important for many of these communities, since wave energy is typically much greater in Fall, Winter, and Spring, when reduced daylight and colder temperatures prevail, WEST is self-tuning to their seasonal energy needs. This is illustrated in the following seasonal demand reported for St. George Island in the Bering Sea: Table 2: St. George Island Electrical Demand Summary Summer Winter Minimum [kW] 70 150 Average [kW] 160 200 Peak [kW] 200 300 From “ Feasibility Study on the connection of a SyncWave Power Resonator™ to St. George Island” Scott Beatty, MASc Candidate, The University of Victoria Yakutat, however, is unique as its seasonal kWh demand (2010 data provided by Yakutat Electric) shows peak occurring in August and September rather than in the low-light winter months (we assume this is due to the fish processing plant operations): $- $5,000,000 $10,000,000 $15,000,000 Year 1Year 2Year 3Year 4Year 5Year 6Year 7Payback Period (Cumulative Diesel Savings > Cumulative Expenses) Cum Expenses Cum savings Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 6 of 31 7/1//2011 LOCAL JOBS. Local jobs are generated at the Atmocean assembly facility to be located in Yakutat. In addition, local jobs are created during the installation process and for routine operations & maintenance. Final assembly onsite is preferred as this economizes on shipping costs (the sub-assemblies being more compact than fully assembled WEST devices, fewer containers are needed). We estimate the Atmocean project will generate an initial total payroll (assembly, mooring and pump deployment) of $450,000. Assuming an average labor rate of $25/hour, this equals 18,000 man- hours or about 9.2 full time equivalent jobs. Additional jobs and income will come from vessel charter, and from WEST operations and maintenance during the expected 20 to 30 year life of the system (estimated at $200,000 per year including supplies, labor, etc.). 2.6 PROJECT BUDGET OVERVIEW Briefly discuss the amount of funds needed, the anticipated sources of funds, and the nature and source of other contributions to the project. Comparing Yakutat’s monthly energy consumption patterns to the offshore wave energy resource, we estimate 600 WEST devices (two arrays) will supply about 90% of Yakutat’s annual electricity requirement. The remaining 10% peak and seasonal demand will be provided by existing diesel generators: 425,000 475,000 525,000 575,000 625,000 675,000 725,000 J F M A M J J A S O N D Yakutat 2010 Diesel Electricity kWh - 2,000,000 4,000,000 6,000,000 8,000,000 J F M A M J J A S O N DkWh Month Two WEST Arrays kWh Generated vs. Yakutat 2010 Diesel kWh Generated 2010 Diesel Generation WEST Arrays Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 7 of 31 7/1//2011 According to our estimates, $4,962,965 is needed to initiate planning, gain permits, produce, ship, assemble, deploy, and commission these WEST devices (configured in two arrays of 300 devices, deployed within Alaska exclusive territorial waters from 1 to 2 miles off Cannon Beach). Since Yakutat already operates diesel generators, the WEST hydraulic motor can directly attach to these generator drive shafts, with a controller cycling between the dominant wave and secondary diesel energy sources. The permitting, licensing, and legal portion of the budget represents about 16.1% of the total, with remaining 83.9% spent on engineering, construction, deployment, and commissioning. Atmocean CEO Philip Kithil is committing $77,355 in matching funds. Therefore the net grant request submitted herewith is $4,885,610. His commitment is contingent on receiving the full amount of requested AEA Round V grant funds. Atmocean’s budget summary follows: 2.7 COST AND BENEFIT SUMARY Include a summary of grant request and your project’s total costs and benefits below. Grant Costs (Summary of funds requested) 2.7.1 Grant Funds Requested in this application. $ 4,885,610 2.7.2 Other Funds to be provided (Project match) $ 77,355 2.7.3 Total Grant Costs (sum of 2.7.1 and 2.7.2) $ 4,962,965 Project Milestones Permitting, License Fees, & Legal Completion Grant Amount Matching Funds Type/Source Total Amount 1. Project scoping and contractor solicitation for planning and design8/5/2012 200,000$ 51,355$ Atmocean investors 251,355$ 2. Permit applications (as needed) 8/25/2012 24,000$ -$ Atmocean investors 24,000$ 3. Final environmental assessment and mitigation plans (as needed)9/25/2012 148,000$ -$ Atmocean investors 148,000$ 4. Resolution of land use, right of way issues 10/25/2012 48,000$ -$ Atmocean investors 48,000$ 5. Permit approvals 12/31/2012 4,800$ -$ Atmocean investors 4,800$ 6. Final system design 12/31/2012 135,000$ -$ Atmocean investors 135,000$ 7. Engineers cost estimate 1/31/2013 16,875$ -$ Atmocean investors 16,875$ 8. Updated economic and financial analysis 1/31/2013 6,400$ -$ Atmocean investors 6,400$ 9. Negotiated power sales agreements with approved rates 1/31/2013 -$ 10,000$ Atmocean investors 10,000$ 10. Final business and operational plan 1/31/2013 157,000$ -$ Atmocean investors 157,000$ Subtotal: Permitting, Licensing, Legal 740,075$ 61,355$ 801,430$ Engineering, Construction, Installation, and Commissioning (ECIC) 1. Confirmation that all design and feasibility requirements are complete.2/8/2013 18,250$ -$ 18,250$ 2. Completion of bid documents 2/10/2013 1,600$ -$ 1,600$ 3. Contractor/vendor selection and award 2/15/2013 10,250$ -$ 10,250$ 4. Construction Phases – A. Atmocean hardware 7/15/2013 2,857,935$ 6,000$ Atmocean investors 2,863,935$ B. Hydraulic Pressure Line Installation 8/1/2013 545,000$ -$ 545,000$ C. WEST Pump Units Deployment 9/1/2013 150,000$ -$ 150,000$ D. Install Generator Interface, Controller, Etc.9/15/2013 312,500$ -$ 312,500$ 5. Integration and testing 10/1/2013 250,000$ -$ Atmocean investors 250,000$ 6. Decommissioning old systems not applicable -$ -$ -$ 7. Final Acceptance, Commissioning and Start-up 10/15/2013 -$ 10,000$ Atmocean investors 10,000$ 8. Operations Reporting ongoing -$ -$ -$ Subtotal: Engineering, Construction, Installation, Commissioning 4,145,535$ 16,000$ 4,161,535$ Grand Total 4,885,610$ 77,355$ 4,962,965$ Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 8 of 31 7/1//2011 Project Costs & Benefits (Summary of total project costs including work to date and future cost estimates to get to a fully operational project) 2.7.4 Total Project Cost (Summary from Cost Worksheet including estimates through construction) $ 4,962,965 2.7.5 Estimated Direct Financial Benefit (Savings) (see section 5 for calculation). $ 1,760,000 2.7.6 Other Public Benefit (If you can calculate the benefit in terms of dollars please provide that number here and explain how you calculated that number in your application (Section 5.) $ 847,000 Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 9 of 31 7/1//2011 SECTION 3 – PROJECT MANAGEMENT PLAN Describe who will be responsible for managing the project and provide a plan for successfully completing the project within the scope, schedule and budget proposed in the application. 3.1 Project Manager Tell us who will be managing the project for the Grantee and include contact information, a resume and references for the manager(s). If the applicant does not have a project manager indicate how you intend to solicit project management support. If the applicant expects project management assistance from AEA or another government entity, state that in this section. Atmocean CEO Philip Kithil will provide general oversight of the project. Engineering oversight will be provided by our Chief Engineer Phil Fullam. Marine operations oversight will come from Yakutat - one potential candidate is Scott Chadwick who operates a fishing and guiding service, and has supported Atmocean’s initial survey of the target region off Cannon Beach. Generation oversight will remain with Scott Newlun who presently serves as Yakutat Electric’s General Manager. Legal and permitting matters will be handled by Atmocean’s counsel (located in Anchorage) Steven J. Shamburek, email shamburek@gci.net. Atmocean consulting executive Mary Jane Parks will guide the permitting process as well provide general consulting. Ms. Parks impressive bio follows: Mary Jane Parks has over 20 years of experience in public utility and private energy companies in California, Australia and Canada. Ms. Parks has managed renewable energy projects and business development, working with Finavera Renewables, Inc. and AquaEnergy Group, Ltd. She was responsible for ocean projects and utility contracts, including successful negotiation of a power purchase agreement with PG&E for a utility- scale ocean wave energy facility. Her work included project management and achieving FERC licensing for the company’s Makah Bay, WA wave energy project. Contact info and condensed resume’s/bio’s follow: Kithil BA, MSBA Economics. 505-310-2294, atmocean.kithil@gmail.com Home is in Santa Fe, NM (39 years). Previous residence Soldotna AK (1 year), and Denver CO (3 years). US Army 1LT (1966-68). Serial entrepreneur with five previous successful startups in: apparel manufacturing/retailing (1972-86); economic consulting (1986-87); trade association management & public relations (1988-93); advertising & promotion (1989-92); automotive safety technologies (1994-2010). Present position: founder and CEO of Atmocean, Inc. (2006-present). Previous position: founder and President of Advanced Safety Concepts, Inc. Awarded 12 US and international patents on occupant sensing & “smart” airbags crash sensing. Fullam BSME, MBA 505-610-8943, phil@reytek.com Home is in Rio Rancho, NM. Previously lived in San Antonio TX and Chimayo, NM Highly capable design engineer with broad experience in product development, manufacturing engineering, electro-mechanical system design, materials science, prototyping. Currently serves Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 10 of 31 7/1//2011 as Chief Engineer with Reytek Corporation (www.reytek.com) in Albuquerque, NM where he is assigned to Atmocean on “as-needed” basis. Among many other accomplishments, on very short notice he single-handedly designed and produced the Atmocean prototype system now undergoing sea trials at the California Polytechnic ocean test pier. Fullam holds numerous patents on diverse inventions. Shamburek 425 G St. #610 Anchorage, AK 99501 (907) 522-5339 Steven J. Shamburek was graduated from the University of Virginia in 1978 with a major in economics and a minor in political and social thought and from the University of Virginia School of Law in 1984. Judicial Law Clerk for two Judges and a Magistrate Judge of the United States District Court for the District of Alaska, 1984-1988. Partner in Law Firm, 1989-1999. Solo practice since 2000. Admitted to practice before all Courts in the State of Alaska (State and Federal), the U.S. Court of Appeals for the Ninth Circuit, and the U.S. Court of Appeals for the Federal Circuit. Areas of Practice Admiralty - all matters involving preferred ship mortgages, wage, necessaries and other maritime liens, injury claims, collision, salvage, limitations of liability, insurance disputes, crew contracts, Coast Guard license suspension and revocation hearings and other matters. Aviation – selected matters involving FAA civil penalty actions; loan documentation in Oklahoma City and state UCC requirements; selected aviation accidents. Business and commercial transactions and litigation – all matters related to commercial transactions and litigation; UCC issues; loan documentation for real estate, personal property and unusual collateral such as vessels and aircraft; business form and formation including partnerships, corporations, and LLCs with care for the liability, tax, management and transferability considerations; all contract matters. Collection - selected collection matters; lis pendens; pre-judgment attachment; claim and delivery; FED actions; post-judgment execution; domestication of foreign judgments in state and federal court. Construction – all matters related to construction contracts and litigation; readily familiar with the legal interpretations of standard AGC and AIA construction contracts; Miller Act and Alaska Little Miller Act surety actions; licensing and bonding requirements. Creditor bankruptcy – all matters related to creditor representation in bankruptcy. Involved in some capacity in 150 main cases, adversary proceedings, and preference actions. ECF certified. Employment – selected matters involving wage and hour issues under the FLSA and the AWHA and general contract issues; preparation and litigation of non-competition and confidentiality Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 11 of 31 7/1//2011 agreements. Avoid sexual harassment, wrongful discharge and ADA matters. Real Estate – all matters related to real estate law; loan documentation and litigation; title matters; easements; public land issues; condemnation cases; foreclosure actions. Transportation - Carmack Amendment claims and defense of claims; selected transportation contracts and BLs. The firm avoids practice in criminal, family law, debtor bankruptcy, taxation, and workers' compensation law. However, all of these areas of law intersect and overlap at times with the primary areas of practice noted above. Thus, a conscious and concerted effort is made to follow developments in these areas of law including attending meetings of the Family, Creditor/Debtor, Taxation, Workers' Compensation, and Corporate Counsel Law Sections of the Alaska Bar Association. Mary Jane Parks (bio is above). Local Energy Associates 2229 Calle Alvarado Santa Fe, NM 87505 626-253-1981 mjp@localenergyassociates.com Owner, Local Energy Associates November 2009 – Present. Local Energy Consultants' mission is to promote energy source knowledge and methods for the efficient, sustainable use of electricity for regional governments. The company works with the private sector on stakeholder and permitting processes for renewable energy power plants. Expertise is in utility issues, regional planning, renewable strategies, ocean energy, wind energy, geothermal and solar. Senior Vice President Principle Power, Inc. June 2008 – September 2010. Development of the WindFloat, a semi-submersible float and integrated wind turbine for deployment in the deep ocean. Senior Vice President Finavera Renewables Inc. 2006 – 2008. Vice President AquaEnergy Group, Ltd. 2001 – 2006. The Seattle-based ocean energy company was instrumental in leading the development of the US and European ocean energy sectors. The company merged with Finavera Renewables, Inc. (TSX-V) in 2006. Education Orange Coast College Merchant Marine 1998. Activities and Societies: US Coast Guard Merchant Mariner, 100 GT. University of Chicago MA, Organizational Management 1986 – 1987. Occidental College BA, History, Sociology, French. 1982 – 1986. Chadwick School 1970 – 1982. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 12 of 31 7/1//2011 3.2 Project Schedule Include a schedule for the proposed work that will be funded by this grant. (You may include a chart or table attachment with a summary of dates below.) The following schedule tracks from the project budget milestones provided above. 3.3 Project Milestones Define key tasks and decision points in your project and a schedule for achieving them. The Milestones must also be included on your budget worksheet to demonstrate how you propose to manage the project cash flow. (See Section 2 of the RFA or the Budget Form.) We have adopted the RFA milestones as summarized elsewhere in this submittal. Milestone completion dates are based on current best estimates to complete the project as scheduled. The over-riding timing issue is to deploy the system during summer of 2013 when ocean conditions are more favorable to marine operations. While we fully intend to complete this project on-time and according to budget, safety is the number one concern. Therefore, if delay is encountered in achieving any of the milestones, and this delay pushes deployment to later in the Fall of 2013 when ocean conditions are unsafe for deployment, we will have no choice but to defer deployment until Summer of 2014. Vendor selection (item 3 under ECIC) is probably the most critical timing item as we need to allow 90 days for component production, to insure containerization in time to meet Lynden Transport’s once-a- month shipping schedule to Yakutat. 3.4 Project Resources Describe the personnel, contractors, equipment, and services you will use to accomplish the project. Include any partnerships or commitments with other entities you have or anticipate will be needed to complete your project. Describe any existing contracts and the selection process you may use for major equipment purchases or contracts. Include brief resumes and references 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 Permitting, License Fees, & Legal 1 1. Project scoping and contractor solicitation for planning and design 2 2. Permit applications (as needed) 3 3. Final environmental assessment and mitigation plans (as needed) 4 4. Resolution of land use, right of way issues 5 5. Permit approvals 6 6. Final system design 7 7. Engineers cost estimate 8 8. Updated economic and financial analysis 9 9. Negotiated power sales agreements with approved rates 10 10. Final business and operational plan Engineering, Construction, Installation, and Commissioning (ECIC) 1 1. Confirmation that all design and feasibility requirements are complete. 2 2. Completion of bid documents 3 3. Contractor/vendor selection and award 4. Construction Phases – 4a A. Atmocean hardware 4b B. Hydraulic Pressure Line Installation 4c C. WEST Pump Units Deployment 4d D. Install Generator Interface, Controller, Etc. 5 5. Integration and testing n/a 6. Decommissioning old systems 7 7. Final Acceptance, Commissioning and Start-up ongoing 8. Operations Reporting Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 13 of 31 7/1//2011 for known, key personnel, contractors, and suppliers as an attachment to your application. Personnel: Phil Kithil, CEO Atmocean Inc. information provided above. Phil Fullam, Chief Engineer, Reytek Corporation. Please see website www.reytek.com Others will be engaged as funding is secured. Contractors: Reytek Corporation, Albuquerque, NM Lynden Transport, Seattle, WA Local Energy Associates, Santa Fe, NM Shamburek Law Office, Anchorage, AK Sandia National Laboratories, Albuquerque, NM California Polytechnic State Univ., San Luis Obispo, CA Equipment: A. WEST subassembly production and/or staging will occur at Reytek manufacturing facility in Albuquerque, NM. Ample storage yard is available for staging and containerization. Alternatively, a site may be selected in Seattle area, thereby saving some shipping cost and expediting the schedule. This will be determined during our 2- day kickoff meeting in Seattle scheduled for early August, 2013. B. WEST subassemblies will be containerized for shipment via barge to Yakutat. Each 40’ standard container should hold 20 WEST devices ready-to-assemble. Assuming 600 WEST units, this requires 30 containers. Lynden Transport quote from Albuquerque NM to Yakutat is $13,381 per container FOB Albuquerque. Estimated enroute time is 11 days (4 land, 7 ocean), depending on season – however just one trip per month is scheduled. C. Final assembly facility to be located adjacent the loading dock in Yakutat requires 30’ by 40’ work shed, 110/240v power, workbenches, assembly tooling, and adjacent 1acre storage yard for staging the fully assembled WEST devices. It is possible portions of Yakutat’s fish processing plant can be subleased during its assumed downtime (January thru June 2013), when WEST final assembly will occur. D. Deployment vessels should have capacity for 10 WEST devices ready-to-deploy (deck space of roughly 360 square feet, i.e. 12’ x 30’). Assuming the average running time from dock to Cannon Beach site approx 45 minutes, deployment time approx 30 minutes, return to dock approx 30 minutes, and reload time 45 minutes, each vessel can make 6 runs in 12 hours, deploying 60 WEST devices. The entire array of 600 thus requires 10 vessel-days. E. Deploying the main hydraulic line from the array to beach crossing site requires vessel with capacity for 250 spools of hose and connectors. We estimate each spool volume of 4 cubic feet, and total volume (4’ tall on pallets) of 1,000 cubic feet. Allowing 100% working room to connect and unspool the 100’ hose segments, the vessel deck space needed is about 12’ by 30’. F. Shore crossing requires placement of rigid pipe during low tide, connecting to the nearshore end of the seafloor hose. This pipe ideally will cross beneath the sand berm at the land side of the beach, then connect to a (larger) hose leading to the existing diesel generator facility in Yakutat. Spent seawater will drain back into the harbor area. G. Placement of slack moorings and the pressure line interconnect between adjacent pumps will occur in advance, ready for WEST device connection. H. The system deployment sequence is: A) lay the large hose from beach berm crossing to Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 14 of 31 7/1//2011 generator plant; B) install moorings with temporary floats, and deploy subsea pressure line with appropriate tensioning (ready to connect between each WEST unit in step E below); C) install beach crossing pipe and connect to land hose; D) deploy pressure lines from beach crossing pipe out to the array mooring, and secure this to temporary floats; E) deploy WEST devices, sequentially connecting to the pre-positioned subsea hose. Once the line is fully pressurized and connected to the hydraulic motor, the WEST System is operational. Services: Lynden Transport (turnkey shipping estimated at $13,381 per container FOB Albuquerque NM). Oversight and management of assembly staff who will assemble the WEST devices at the workshop facility in Yakutat. We estimate 4 hours per device, so total of 2,400 man-hours assembly workers plus manager during the assembly process (June-July 2013). Once WEST arrays are deployed and producing hydraulic pressure at the generator facility, general oversight is needed of the cycling between primary wave energy and backup diesel energy, as well as daily inspection of the land hose and beach crossing. Periodic inspection visit to the WEST arrays off of Cannon Beach will only be necessary if the hydraulic pressure drops below levels expected for the wave conditions. If a pressure line is cut or damaged, the problem can be pinpointed: 1) by observing buoy locations to determine if a line was severed (some buoys will have drifted); or 2) pulling up pumps to measure the local pressure, which process can pinpoint the location of a damaged line. Our selection process for major purchases/contracts will include these steps: Publish requirements, solicit interest, obtain qualifications, get cost quotes, select best qualified (may not be lowest cost). Resumes of key personnel, contractors, suppliers. As provided above. 3.5 Project Communications Discuss how you plan to monitor the project and keep the Authority informed of the status. This will be according to the contractual terms. We expect to generate daily generation reports of wave primary energy vs diesel backup energy; exceptions reports; and inspection reports – all of which will be public information. 3.6 Project Risk Discuss potential problems and how you would address them. A major advantage of the WEST architecture is its modularity. While storm-induced loss of a few WEST devices is possible, the vast majority will “ride out the storm”. With this modular approach, it is highly unlikely for the entire system to be taken off line. Risks are ranked from major to minor: 1. Loss of some buoys due to extreme weather events (note – the WEST buoy is the only above-sea component). We believe the undersea components (25’ to 75’ deep) are reasonably well-protected even from a 100-year storm and will remain intact and Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 15 of 31 7/1//2011 functional. If some buoys are lost or damaged and the hydraulic pressure/flow is temporarily reduced, the system can revert to diesel generation. In this situation, we will retrieve damaged WEST buoys for repair, and replace as needed. Once deployed, the system will automatically begin producing hydraulic pressure to generate electricity. 2. If there is damage of an undersea hydraulic pressure line, the system can revert to diesel generation. To mitigate this condition, we will pull up the damaged hose and replace it with new hose. Once redeployed, the system will automatically begin producing hydraulic pressure to generate electricity. 3. If there is damage to the beach crossing pipe, partial or complete loss of hydraulic pressure is likely. Again, the system will revert to diesel generation until the damaged pipe section is repaired or replaced. Once repaired, the system will automatically begin producing hydraulic pressure to generate electricity. 4. Salt water damage to pipe, connectors, the accumulator tank, or Pelton turbine will be mitigated by periodic inspection, maintenance, repair or replacement as needed. SECTION 4 – PROJECT DESCRIPTION AND TASKS  Tell us what the project is and how you will meet the requirements outlined in Section 2 of the RFA.  The level of information will vary according to phase(s) of the project you propose to undertake with grant funds.  If you are applying for grant funding for more than one phase of a project provide a plan and grant budget form for completion of each phase.  If some work has already been completed on your project and you are requesting funding for an advanced phase, submit information sufficient to demonstrate that the preceding phases are satisfied and funding for an advanced phase is warranted. 4.1 Proposed Energy Resource Describe the potential extent/amount of the energy resource that is available. Discuss the pros and cons of your proposed energy resource vs. other alternatives that may be available for the market to be served by your project. Wave energy offshore Yakutat’s Cannon Beach is sufficient to generate >90% of Yakutat’s electricity using the Atmocean WEST system. Even though our analysis of data compiled by the National Data Buoy Center (http://www.ndbc.noaa.gov/) shows that 20% of all waves are under 1 meter, and 55% under 2 meters (see adjacent plot), since the WEST technology relies on wave steepness as well as height and period, it provides sufficient hydraulic pressure even under these conditions. With WEST, the smaller wind-waves still generate power, as seen in the detailed power curve below. 0 5 10 15 20 0 1 2 3 4 5 6 7 8 9 10 0%5%10%15%20%25%30%35%40%45%50%55%60%65%70%75%80%85%90%95%100%Wave Period (s)Wave Height (m)Yakutat Wave Height & Period 2010 Wave Ht Period Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 16 of 31 7/1//2011 It is important to note, this lookup table was calculated before our Cal Poly sea trials began last July. Preliminary input- output data from these trials suggest our power output per WEST device will be 2 to 3 times greater than shown here, due to the much greater thrust forces developed by our pump design. Therefore, we have reduced our (April 26 Feasibility Study) estimate of 1,250 WEST devices needed to generate >90% of Yakutat annual kWh, to 600 WEST devices. In the table below, we compare Atmocean WEST to other wave energy systems that generate hydraulic pressure to run onshore generators. We exclude all wave energy systems that put the generator in the ocean, and transmit the electricity by seafloor cable, as these systems are not cost-effective for smaller-scale wave energy requirements such as Yakutat. These “offshore-generator/electric transmission” systems also suffer from an inherent contradiction: to reduce the very high cost of running seafloor electrical cable, they must be located nearshore – but nearshore locations experience reduced wave energy. Within the select group of “onshore-generator/hydraulic transmission” wave energy systems, some are nearshore or in shallow water; require subsurface pipelines; utilize a few massive devices difficult to ship and install; require fixed seafloor foundations; or use freshwater transmission (leaks could be detrimental to the local ocean ecosystem). Atmocean WEST advantages therefore include the following:  Wave capture is farther offshore where waves are bigger.  Transmission line does not require horizontal subsurface drilling.  Individual units are smaller & can be containerized, therefore feasible to ship to remote areas.  Hydraulic line uses seawater, eliminating concern over contamination of the ocean.  System not affected by extreme tides.  Unlike nearshore and beachfront systems, WEST is not “gummed up” by shifting sand. - 5 10 15 - 0.20 0.40 0.60 0.80 1.00 1.20 0.60.81.01.11.21.31.41.5Wave Period (s)Power (kW)Wave Height (m) Wave Energy Lookup Table -Low Waves Detail kW DPD Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 17 of 31 7/1//2011 Wave Energy Technologies Using Hydraulic Transmission With Onshore Generation. Company Attribute AquaMarine “Oyster” Atmocean “WEST” Carnegie CETO Dartmouth SeaRaser INRI Seadog Seawood Surfpower Waveberg Operating Depth 12-16m 25m or deeper >30m required <30m required <20m required <20m required Outside wave breaking Ocean regime Nearshore Offshore Near or Offshore Nearshore Nearshore Nearshore Nearshore Power transmission Hydraulic Hydraulic Hydraulic Hydraulic Hydraulic Hydraulic Hydraulic Wave energy physics Surge force Wave steepness Surge force Wave heave Wave heave Wave surge Wave heave Transmission line type Pipe under seafloor Hose containing seawater Pipe under seafloor Hose on seafloor Hose on seafloor Hose on seafloor Hose on seafloor Transmission fluid/cycle Freshwater closed loop Seawater open loop Fresh or seawater open loop Seawater open loop Seawater open loop (?) Seawater open loop ? Nominal Line Pressure 1750 psi (120 bars) 100-200 psi tbd Tbd ~50 psi 200 bar ? Seafloor attachment Individual fixed foundation on seafloor Standard slack moorings Individual fixed foundation on seafloor Individual moorings Individual moorings Individual anchors Slack moorings Shoreline crossing Directional drilled pipeline Hose (burial not required) Directional drilled pipeline Directional drilled pipeline Tbd Tbd Tbd Weight 450 t <1 t per device Significant Modest 9 t per device 9t (pontoon only) Tbd System configuration 1 unit 1 array = 50 devices (typical) 1 unit Multiple units Multiple units (?) Multiple units Shipping size 85’ x 43’ x 43’ (not in container) 10 per 40’ container Large Unknown 35 feet height per unit Tbd – significant Tbd Onshore Generator 3 phase induction generator Pelton type generator Pelton type generator Standard hydropower Pelton type generator Pelton type generator Pelton type generator Onshore Converter Step up transformer to 11/33kV Standard power converter Standard power Standard power Standard power Standard power Standard power Effective power output 2,596 MWh per year /unit (Yakutat wave data) ~2,000 MWh/year/ array (Yakutat wave data). Tbd Tbd Tbd Tbd Tbd Extreme wave protection Unknown – problematic Buoy submerges in waves > 3.5 m Undersea at all times Unknown – problematic Unknown – problematic Unknown – problematic Unknown Seafloor disturbance Local disturbance of seafloor from foundation placement Minimal (only anchor and hose contact the seafloor) Local disturbance of seafloor from foundation placement Local disturbance of seafloor from foundation placement Local disturbance of seafloor from foundation placement Local disturbance of seafloor from foundation placement Unknown Effect on fish, marine ecology Minimal unless fish or mammals become entangled. Beneficial as upwelling replenishes ocean food web Minimal unless fish or mammals become entangled. Minimal unless fish or mammals become entangled. Minimal unless fish or mammals become entangled. Minimal unless fish or mammals become entangled. Minimal unless fish or mammals become entangled. Effects of tides May not operate None None None May not operate None Tbd Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 18 of 31 7/1//2011 Among other renewable energy sources, solar panels are obviously severely limited in shorter daylight, or rainy/cloudy marine climates. Tidal power is intermittent, and stabilizing these underwater devices has proven challenging. Tidal rotating devices have potentially negative effects on migrating fish and marine mammals. Wind power is intermittent and difficult to manage in extreme weather conditions. The turbine blades could be damaged by Yakutat’s snow and ice. Geothermal is restricted to relatively few locations and is expensive. Small scale nuclear is still in development, and is difficult to obtain public acceptance. 4.2 Existing Energy System 4.2.1 Basic configuration of Existing Energy System Briefly discuss the basic configuration of the existing energy system. Include information about the number, size, age, efficiency, and type of generation. Yakutat Electric relies on diesel generation for 100% of its electric generation. The following is from “Yakutat Conceptual Design, Performance, Cost and Economic Wave Power Feasibility Study” - Report EPRI - WP- 006-Alaska Author Mirko Previsic, Coauthor Roger Bedard, Date December 31, 2009 (http://oceanenergy.epri.com/attachments/wave/reports/006_Alaska_Yakutat_Conceptual_Wave_ Power_Feasibility_Study_123109.pdf) Criteria. Operating Depth. Under 20m is limited geographically, and problematic due to tides, crashing waves, driftwood, human interference, etc. Ocean regime. Offshore is preferred as available wave energy is greater than nearshore (where the seafloor absorbs some of the wave energy). Nearshore systems also could be disabled by natural beach erosion caused by sand migration. Power transmission. Hydraulic transmission is much less costly than electrical cable. Wave energy physics. Energy capture needs to be effective in low waves since 20% or more of waves are under 1.5m height. Transmission line type. Pressure lines must cope with shifting currents, tides, storms, etc. Transmission fluid/cycle. Seawater eliminates risk to the ocean ecology should rupture occur – but corrosion must be counteracted. Open cycle (1-way transmission) costs less than closed cycle (round-trip transmission). Nominal Line Pressure. Lower pressure may reduce pressure drop over longer distance. Higher pressure is optimum for desalination, or dual- purpose (energy and desalination) systems. Seafloor attachment. Flexible “slack” moorings may provide greater durability. Fixed foundations or rigid seafloor attachments must cope with extreme weather conditions. Shoreline crossing. Directional drilled subsea techniques are more durable but much more expensive and may not be practical in remote regions. Flexible hose or rigid pipe on the beach surface is easier to maintain and replace if damaged. Weight. Massive units (e.g. >50 tons) will be expensive to ship and very challenging to deploy. System architecture & configuration. Wave energy capture should correspond to diffuse, low-grade energy inherent in ocean waves. Shipping size. Should be containerized for efficient shipping. Onshore Generator. Off the shelf components. Onshore Converter. Off the shelf components. Effective power output & cost per kWh. For most gravity-based systems, wave energy capture is proportional to total system mass (whether concentrated or distributed). The primary cost drivers are long term system durability and survival under extreme conditions. Extreme wave protection. The most critical durability issue. Choices are: A) Submerged at all times. B) Duck under big waves. C) Ride over big waves. Force limiting is best achieved by submerged systems, or by ducking. Seafloor disturbance. Square meters affected by mooring technique, is critical in regions with extensive coral reefs. Effect on fish, marine ecology. Best to have zero or slightly positive impact on marine ecology. Effects of tides. System should not shut down in extreme high or low tides. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 19 of 31 7/1//2011 The existing Yakutat Power plant generation equipment consists of four diesel generator sets (gensets) with a total generation capacity of 4,000 kW. The generation system is a 4160-volt three-phase system. All generators operate at 1200 RPM. Genset #1 a new CAT 3516B rated at 1322 kW Genset #2 is a CAT 3512B rated at 880 kW Genset #3 is a CAT 3508B rated at 600 kW Genset #4 is a CAT 3516 rated at 1200 kW The new 3516B is the primary genset. The 3512B and 3508B gensets operate on an as-needed basis when the electric load exceeds the 3516B capacity and when the 3516B is down for maintenance. The 3516 is nearing the end of its useful life and is thus used sparingly. The power plant has two separate cooling systems, both with heat recovery capability. The 3516B and 3512B are on one common cooling loop, and the 3508B and the 3516 are on a separate cooling loop. Both cooling loops are 5-inch diameter welded steel piping with flanged butterfly valves, an AMONT valve, plate heat exchanger and a single radiator. 4.2.2 Existing Energy Resources Used Briefly discuss your understanding of the existing energy resources. Include a brief discussion of any impact the project may have on existing energy infrastructure and resources. 100% of Yakutat electricity comes from diesel generators. By integrating Atmocean wave energy as the primary source and using diesel mainly for backup and peak load generation, the diesel generators life expectancy should increase substantially as their hours of operation will diminish accordingly. Diesel spare parts and maintenance costs will also come down. Among other benefits, by reducing these diesel costs, money can be applied to upgrade and repair the aging transmission infrastructure, including rotting power poles and aging electric lines (a critical need per discussion with Scott Newlun). 4.2.3 Existing Energy Market Discuss existing energy use and its market. Discuss impacts your project may have on energy customers. The customer base in Yakutat, as we understand it, consists of individual consumers, tourism- related small business, government offices, infrastructure and operations provided to the native community, fishermen, and the fish processing plant. The latter is a major electricity user during peak operations, and we understand the current high cost of power makes its operation marginal. There are multiple, interrelated risks to the community from high electric costs. There has been steady out-migration over the past decade. This means the fixed infrastructure cost is spread over fewer residents – these higher costs further accelerating the move outside. Excessive power costs could close the fish processing plant, and its operation transferred to ship processors, or to other land facilities. This would eliminate a large number of seasonal jobs. With the Atmocean WEST system up and running, energy bills will come down, and this will encourage residents to remain in Yakutat rather than move. The fish plant should become profitable, maintaining operations and seasonal employment. Many other tangible and intangible benefits will accrue from reducing electricity costs in Yakutat, by switching to clean renewable wave energy from highly polluting diesel fuel (which is doubly Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 20 of 31 7/1//2011 polluting since shipping in the fuel also requires diesel or bunker oil). 4.3 Proposed System Include information necessary to describe the system you are intending to develop and address potential system design, land ownership, permits, and environmental issues. 4.3.1 System Design Provide the following information for the proposed renewable energy system:  A description of renewable energy technology specific to project location  Optimum installed capacity  Anticipated capacity factor  Anticipated annual generation  Anticipated barriers  Basic integration concept  Delivery methods We are attaching our feasibility study “Atmocean Wave Energy Feasibility Study for Yakutat, AK” updated August 10, 2011 in partial response to these questions. Further information follows inline each section:  A description of renewable energy technology specific to project location. See attached.  Optimum installed capacity We estimate that two arrays of 300 WEST devices will meet 90% of Yakutat kWh demand. Our current plan, if funded, will deploy these arrays at one time as this is most economical for boat time, staging, setup and connections, to reach payback within about 4 years. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 21 of 31 7/1//2011 In the above Google Earth image, the arrays are shown as smaller lines within the white box (however could be oriented 90 degrees depending on current measurements). The pink line is the seafloor transmission line to Cannon Beach, and the aqua line is the land hydraulic hose to the existing generator station.  Anticipated capacity factor Since we base our estimates on actual measured waves, capacity factor is already taken into account.  Anticipated annual generation We targeted 6.6 million kWh per year for the WEST system. Since some peak loads occur when waves are lowest (July-August-September), there is still a need for diesel backup.  Anticipated barriers Lack of funding is the primary barrier. Permitting may slow things down but our discussion with AK Dept of Natural Resources – Div of Mining, Land, Water (Land Use Permit) and review of their “Use of Marine Waters-Tide and Submerged Lands” permitting questionnaire, indicates our system has very little impact and should receive quick approval. With respect to Federal regulations, according to Stoel, Rives (lawfirm) “The Law of Ocean and Tidal Energy” (http://www.stoel.com/showarticle.aspx?Show=2523), Federal Energy Regulatory Commission (FERC) does not have jurisdiction over projects located in 3 mile exclusive state waters which do not connect to an interstate grid (reference Paragraphs III-A-1, Chapter 3, Page 3).  Basic integration concept WEST will integrate with the existing generation and transmission/distribution infrastructure of Yakutat. By connecting the output of our hydraulic motor (Pelton turbine) to the diesel generator drive shaft, we can implement a hybrid system cost-effectively. A new controller will be needed to manage the connection for optimum output.  Delivery methods Delivery of WEST hydraulic pressure will be by hose into the Pelton turbine (or into the accumulator/storage tank, which then will drive the Pelton turbine connected to the diesel generator shaft). Existing electrical transmission and distribution will not be affected. 4.3.2 Land Ownership Identify potential land ownership issues, including whether site owners have agreed to the project or how you intend to approach land ownership and access issues. Permits or easements will be needed for the offshore submerged lands (see above comments on permitting); for the beach crossing; and for running the WEST hydraulic pressure hose from Cannon Beach to the existing generator building site in town. To accomplish this cost-effectively, we propose to use existing roadway easements e.g. adjacent drainage channels (however, the effects of snowplows and snow/ice buildup in these channels, needs to be considered). Roadway crossings could be via existing culverts or underneath bridges. We will work closely with the City and Borough, the native community, and with Yakutat Electric, to solve these land right of way issues. 4.3.3 Permits Provide the following information as it may relate to permitting and how you intend to address Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 22 of 31 7/1//2011 outstanding permit issues.  List of applicable permits  Anticipated permitting timeline  Identify and discussion of potential barriers The “Land Use Permit for Use of Marine Waters”, provided to us by Christy Colles - Natural Resources Specialist - Alaska Department of Natural Resources Division of Mining, Land and Water Southcentral Regional Land Office Permitting Unit 550 W. 7th Ave., Suite 900C Anchorage, AK 99501 is self explanatory and will be filed promptly upon notice of this grant approval. We understand from Christy that the process is not excessively time consuming – six to nine months – so this timeline is consistent with the AEA grant timeline as well as our project timeline. As mentioned above, FERC does not have jurisdiction over energy projects located within the 3 mile exclusive state waters, which do not connect to an interstate grid. As the Yakutat power system is self-contained, and Atmocean WEST arrays will be inside the 3 mile boundary, no permit from FERC is needed. 4.3.4 Environmental Address whether the following environmental and land use issues apply, and if so how they will be addressed:  Threatened or Endangered species  Habitat issues  Wetlands and other protected areas  Archaeological and historical resources  Land development constraints  Telecommunications interference  Aviation considerations  Visual, aesthetics impacts  Identify and discuss other potential barriers  Threatened or Endangered species We do not anticipate any issues with threatened or endangered species, as our technology has very low (negligible) impact on the marine or land environment.  Habitat issues There should be no habitat issues.  Wetlands and other protected areas While our onshore pressure line will lie in drainage channels (below grade) adjacent roadways, given the existing effects of traffic and road maintenance, any further impact to these areas will be nominal.  Archaeological and historical resources We do not foresee any impact whatsoever on these resources.  Land development constraints We do not foresee any constraints from land development activity.  Telecommunications interference There will no impact on telecomm. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 23 of 31 7/1//2011  Aviation considerations Since everything except the buoys are either undersea or lying on the ground, there are no aviation issues.  Visual, aesthetics impacts The buoys will be invisible from shore. All other ocean components are subsea. T he beach crossing pipe probably will get buried naturally (by shifting beach sand) soon after installation, thus be invisible. The onshore hydraulic hose will lie in culverts or drainage channels next to roads, with little if any visual impact.  Identify and discuss other potential barriers None. 4.4 Proposed New System Costs and Projected Revenues (Total Estimated Costs and Projected Revenues) The level of cost information provided will vary according to the phase of funding requested and any previous work the applicant may have done on the project. Applicants must reference the source of their cost data. For example: Applicants Records or Analysis, Industry Standards, Consultant or Manufacturer’s estimates. 4.4.1 Project Development Cost Provide detailed project cost information based on your current knowledge and understanding of the project. Cost information should include the following:  Total anticipated project cost, and cost for this phase  Requested grant funding  Applicant matching funds – loans, capital contributions, in-kind  Identification of other funding sources  Projected capital cost of proposed renewable energy system  Projected development cost of proposed renewable energy system  Total anticipated project cost, and cost for this phase Total cost is estimated at $4,962,965 (see budget for details).  Requested grant funding $4,885,610 (see budget for details).  Applicant matching funds – loans, capital contributions, in-kind Atmocean CEO Philip Kithil has committed to provide $77,355 in cash as matching funds. These funds will purchase common stock, and be used as matching funds by Atmocean as authorized by the Board of Directors (see attached Resolution). .  Identification of other funding sources We are scheduled to meet with Russell Dick and Nathan Soboleff from Sealaska Corporation during the Rural Energy Conference Sept 27-29, 2011 in Juneau to discuss its participation in this project. As any financial commitment from Sealaska will take several months to gain approval and agree on terms, we are not able to provide any commitment as part of this submittal.  Projected capital cost of proposed renewable energy system $4.9 million (see budget details). Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 24 of 31 7/1//2011  Projected development cost of proposed renewable energy system WEST will be fully developed by the time this grant is approved by AEA 4.4.2 Project Operating and Maintenance Costs Include anticipated O&M costs for new facilities constructed and how these would be funded by the applicant. (Note: Operational costs are not eligible for grant funds however grantees are required to meet ongoing reporting requirements for the purpose of reporting impacts of projects on the communities they serve.) We estimate that O&M costs will run about 15% of the Atmocean WEST upfront costs (about $200k annually, equal to about 3 cents per kWh) as explained in the Risks section above. Funding will come from the power purchase agreement to be negotiated between Atmocean and Yakutat Electric. 4.4.3 Power Purchase/Sale The power purchase/sale information should include the following:  Identification of potential power buyer(s)/customer(s)  Potential power purchase/sales price - at a minimum indicate a price range  Proposed rate of return from grant-funded project  Identification of potential power buyer(s)/customer(s) The PPA customer is Yakutat Electric.  Potential power purchase/sales price - at a minimum indicate a price range We have developed a Draft PPA and submitted this to Yakutat Electric manager Scott Newlun, and to the City/Borugh Manager Skip Ryman. In this draft, we proposed a cost per kWh the greater of: either 90% of previous 3 months actual diesel cost per kWh, or $0.25 per kWh. Under this plan, Yakutat Electric is guaranteed to save money, and bears no risk. It’s primary obligation is to purchase kWh generated by Atmocean WEST. In our pricing projections which underlie this project, we assume average annual PPA price/kWh somewhat different than initially proposed in the above draft PPA. We start at the estimated current energy cost per kWh of $0.35/kWh, then reduce this by 1% the first year, 2% the 2nd year, 4% the 3rd year, 8% the 4th year, and 16% the 5th year; then 5% per year until the 20th year of operation. These assumed prices per kWh are shown below. 2013 2014 2015 2016 2017 2018 2019 $0.350 $0.347 $0.340 $0.326 $0.300 $0.252 $0.239 then reducing 5%/year  Proposed rate of return from grant-funded project Our projections show an IRR of 30%. We estimate tangible payback in 4 years, and a benefit/cost ratio of 3.3. 4.4.4 Project Cost Worksheet Complete the cost worksheet form which provides summary information that will be considered in evaluating the project. Download the form, complete it, and submit it as an attachment. Document any conditions or sources your numbers are based on here. We base wave energy on US Data Buoy Center for #48082. We also considered data from Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 25 of 31 7/1//2011 #46083 however its 2010 data record was incomplete. We base Yakutat energy consumption on worksheets provided by Scott Newlun (“Power House PCD.xlsx”. We used some information contained in the 2009 EPRI Study “Yakutat Conceptual Design, Performance, Cost, and Economic Wave Power Feasibility Study” (available online). We used internal data on WEST performance and expected energy output. We obtained a cost quote from Lynden Transport, for shipping 40 containers from Albuquerque NM to Yakutat AK. Reytek Chief Engineer Phil Fullam reviewed the reasonableness of our component cost estimates. SECTION 5– PROJECT BENEFIT Explain the economic and public benefits of your project. Include direct cost savings, and how the people of Alaska will benefit from the project. The benefits information should include the following:  Potential annual fuel displacement (gal and $) over the lifetime of the evaluated renewable energy project  Anticipated annual revenue (based on i.e. a Proposed Power Purchase Agreement price, RCA tariff, or cost based rate)  Potential additional annual incentives (i.e. tax credits)  Potential additional annual revenue streams (i.e. green tag sales or other renewable energy subsidies or programs that might be available)  Discuss the non-economic public benefits to Alaskans over the lifetime of the project Calculations supporting the values in Section 2.7.5: 90% of 6.6 million kWh = 5.94 million kWh generated from free wave energy. Assuming generation rate of 15 kWh/gallon of diesel fuel (2010 data from Yakutat Electric), the annual diesel savings are: 5.94 million kWh/15 kWh/gallon x assumed $4 cost per delivered gallon =$1,760,000 direct financial benefit per year. If we assume diesel cost per gallon increases 10% per year in the future, the total direct benefit over seven years exceeds $13.6 million. Calculations supporting the values in Section 2.7.6: Local labor to assemble & deploy WEST systems: $450,000. Operations & maintenance: assume 2 full time staff @ $50,000 per year, = $100,000. CO2 emissions avoided (equivalent to pricing of Renewable Energy Credits) – assume $.05 per kWh = $297,000.  Potential annual fuel displacement (gal and $) over the lifetime of the evaluated renewable energy project By replacing diesel fuel with wave energy over the 20 year assumed life of this project, based on Yakutat Electric’s stated consumption in 2010 of 440,368 gallons diesel costing $1,469,000, with 15 kWh per gallon generator efficiency, and given our 90% supply assumption, the total (20 years) diesel displaced will be 7.9 million gallons. Assuming a future diesel price averaging about $5.00/gallon (but could be much higher), the direct cost savings will be $44 million. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 26 of 31 7/1//2011  Anticipated annual revenue (based on i.e. a Proposed Power Purchase Agreement price, RCA tariff, or cost based rate) Our rate assumptions are shown above. Starting with an energy cost (excluding T&D) of $0.35/kWh, by year 20 this comes down to $.151/kWh, substantially reducing the cost of electricity for Yakutat consumers.  Potential additional annual incentives (i.e. tax credits) We expect there may be significant tax benefits accruing to Atmocean, but do not have specifics at this time.  Potential additional annual revenue streams (i.e. green tag sales or other renewable energy subsidies or programs that might be available) Same answer as above question.  Discuss the non-economic public benefits to Alaskans over the lifetime of the project Much less pollution from burning diesel fuel. Favorable public relations, being the first community to employ commercial wave energy. (Don’t let this opportunity slip by!) Improvement to ocean ecology from the upwelling generated by each WEST device. Enhanced natural ocean sequestration of CO2 due to possible phytoplankton blooms each spring and summer. Help reverse Yakutat’s decade-long trend of population out-migration. SECTION 6– SUSTAINABILITY Discuss your plan for operating the completed project so that it will be sustainable. Include at a minimum:  Proposed business structure(s) and concepts that may be considered.  How you propose to finance the maintenance and operations for the life of the project  Identification of operational issues that could arise.  A description of operational costs including on-going support for any back-up or existing systems that may be require to continue operation  Commitment to reporting the savings and benefits  Proposed business structure(s) and concepts that may be considered. While this proposal assumes Atmocean, Inc. is both the system supplier and the operator (independent power producer), we are open to an innovative business structure shown below which embodies local ownership of the project: Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 27 of 31 7/1//2011 Under this alternative model, Atmocean would co-invest with local entities (individuals, native org’s, companies, gov’t) to form a local operating company (LLC). This LLC would negotiate the PPA with the local utility. The LLC would purchase subassembled systems from Atmocean. By focusing on local control of the operation, the community may be better served; and, Atmocean would still benefit from its investment in the LLC.  How you propose to finance the maintenance and operations for the life of the project Since O&M is quite low (expected $200k per year, just 3 cents/kWh, Atmocean (or the operating entity if the above business model is used) will have ample funds from its PPA contract to cover these costs.  Identification of operational issues that could arise. In the Risks section above, we identified some of the worst case events.  A description of operational costs including on-going support for any back-up or existing systems that may be require to continue operation The backup system will continue to be diesel, so these technical and cost factors need to be maintained.  Commitment to reporting the savings and benefits Atmocean commits to transparency in all dealings with the public, AEA, city and Borough of Yakutat, etc. SECTION 7 – READINESS & COMPLIANCE WITH OTHER GRANTS Discuss what you have done to prepare for this award and how quickly you intend to proceed with work once your grant is approved. Tell us what you may have already accomplished on the project t o date and identify other grants that may have been previously awarded for this project and the degree you have been able to Business Model Atmocean, Inc. Subassembly Producer Local LLC Final Assembly- Deploy-Operate Investors Local Partners Local Utility Power Purchase Agmnt. Solid white= planned funds-in Dash white = optional funds-in Solid or dash Gold = payback (ROI) Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 28 of 31 7/1//2011 meet the requirements of previous grants. We have conducted the feasibility study (at own expense) and are updating those projections as new information is obtained. We have undertaken sea trials at Cal Poly (at own expense), leading to some minor design improvements, further assurance of durability, and information on bio-fouling. With these sea trials due for completion September 2011, we hope to gain funding for a moored array nearby the Cal Poly ocean test pier so we can work out issues with seafloor moorings, array configuration/spacing, and gain more data on upwelling and durability (this moored unit will stay out over the winter when Pacific storms churn the region). We also are in line to get hydraulic modeling support from Sandia National Laboratories, which will guide our final design of the hydraulic pressure line. This project should kick off in January 2012 and be completed March 2012, in time to integrate the results into the work funded by the AEA grant commencing August, 2012. We are 100% privately funded by angel investors. In Kithil’s previous auto safety technology company, he obtained cooperative research grants from US DOT – NHTSA which were renewed multiple times between 2000 and 2003, (as evidence of his ability to comply with grant documentation). In the current as well as past business ventures, he has been awarded several small business assistance grants from Sandia and Los Alamos National Laboratories, and a CRADA from Sandia. SECTION 8– LOCAL SUPORT Discuss what local support or possible opposition there may be regarding your project. Include letters of support from the community that would benefit from this project. We believe our relationships with community leaders (including Skip Ryman, Scott Newlun, Scott Chadwick, and Ian Fisk) are in good standing. We are not aware of any opposition to our project. SECTION 9 – GRANT BUDGET Tell us how much you want in grant funds Include any investments to date and funding sources, how much is being requested in grant funds, and additional investments you will make as an applicant. Include an estimate of budget costs by milestones using the form – GrantBudget5.doc Provide a narrative summary regarding funding sources and your financial commitment to the project. We request $4,885,610 in grant funds, to be supplemented by $77,355 in matching funds from Atmocean CEO Philip Kithil. Atmocean, Inc., has pre-approval from its Board of Directors to negotiate the AEA grant. Atmocean views this project as an enormous win-win for Alaska rural coastal communities as well as for the Company. We get to showcase our technology in one of the most challenging Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 29 of 31 7/1//2011 environments found anywhere on Earth. Alaska rural coastal communities get a solution to ever- increasing diesel electricity costs. The total (tangible and intangible) ROI is very significant. Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 30 of 31 7/1//2011 SECTION 10 – ADDITIONAL DOCUMENTATION AND CERTIFICATION SUBMIT THE FOLLOWING DOCUMENTS WITH YOUR APPLICATION: A. Contact information, resumes of Applicant’s Project Manager, key staff, partners, consultants, and suppliers per application form Section 3.1 and 3.4. Applicants are asked to separate resumes submitted with applications, if the individuals do not want their resumes posted. B. Cost Worksheet per application form Section 4.4.4. C. Grant Budget Form per application form Section 9. D. Letters demonstrating local support per application form Section 8. E. An electronic version of the entire application on CD per RFA Section 1.7. F. Authorized Signers Form. G. Governing Body Resolution or other formal action taken by the applicant’s governing body or management per RFA Section 1.4 that: - Commits the organization to provide the matching resources for project at the match amounts indicated in the application. - Authorizes the individual who signs the application has the authority to commit the organization to the obligations under the grant. - Provides as point of contact to represent the applicant for purposes of this application. - Certifies the applicant is in compliance with applicable federal, state, and local, laws including existing credit and federal tax obligations. H. CERTIFICATION The undersigned certifies that this application for a renewable energy grant is truthful and correct, and that the applicant is in compliance with, and will continue to comply with, all federal and state laws including existing credit and federal tax obligations and that they can indeed commit the entity to these obligations. Print Name Signature Title Date Renewable Energy Fund Grant Application Round 5 AEA12-001 Grant Application Page 31 of 31 7/1//2011 Documents incorporated in the application follow: Selected emails between Atmocean CEO Kithil, Scott Newlun, Manager Yakutat Electric, and Skip Ryman, City Manager: Scott Newlun yakpower@ptialaska.net to Philip Kithil <atmocean.kithil@gmail.com> date Fri, Aug 5, 2011 at 1:31 PMsubject Re: Wave and current measurements Philip, I have no problem with you putting in for the grant. I can't speak for everyone but I am glad you are moving on it. Like I said the AEA is aware of your company and should take a hard look at it. I will look through your application and see if I notice any problems. Thank you, Scott Skip Ryman sryman@yakutatak.us to Philip Kithil <atmocean.kithil@gmail.com> cc Scott Newlun <yakpower@ptialaska.net>, Bill Lucey <yakutat_salmon_board@yahoo.com> date Mon, Jun 13, 2011 at 11:46 AM subject Re: PPA hide details Jun 13 It sounds intriguing. As long as you understand that this small community is not in a position to accept any significant financial risk, I am certainly willing to sit down and flesh out details to see if it is something we can recommend to the Assembly. If Scott agrees we can set a time to begin discussions.../Skip Scott Newlun yakpower@ptialaska.net to Philip Kithil <atmocean.kithil@gmail.com>, Skip Ryman <sryman@yakutatak.us> date Tue, Aug 2, 2011 at 1:27 PM subject Re: Wave and current measurements Philip, We have not given up on wave energy yet, just too many irons in the fire right now. I have been forwarding information to the Alaska Energy Authority by way of the South East Alaska Integrated Resource Plan (SEIRP) Work Group Meetings. They are taking a hard look at the project they can help develop for Yakutat and I will keep you informed of any developments from that front. Please keep us in the loop with your progress. Thank you, Scott Newlun General Manager Yakutat Power