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SUBSIDIARY NAME

Wyoming Coal to Liquids

COUNTRY

USA

SECTOR/ INDUSTRY

ENERGY

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

August 4, 2022

ACQUISITION VALUATION

980 MILLION

TOTAL ASSET VALUATION

9.8 BILLION

ENERGY-OIL-REFINERY-GAS

Wyoming Coal to Liquids by Advanced Clean Energy Inc or its successor/SPV acquired on August 4, 2022.

The project developer (ACE) will construct, own and strategically manage a state of the art coal to liquids facility within the state of Wyoming.

The proven and commercialized GGI system uses pyrolysis which does not emit particulate, NOX or Sox. State level EPA rules essentially state that as long as you develop the site away from existing housing and flood plains that the permit must be issued. The concept of NIMBY is statute barred in the state.

The state has no personal, corporate or estate taxes. The state will also provide a hiring bounty for new hires. The outputs can range from tank ready fuels ranging from aviation fuel through to marine gas oil all meeting ASTM and LCFS standards. The state is also asking ACE to consider making liquid hydrogen.

SUBSIDIARY NAME

VERITAS USA INC

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