The Bedminster BioEnergy Market Opportunity
The annual global market for renewable energy is estimated at $100 billion and has been expanding at 30% per year. Substantial investment incentives and aggressive legislation used to address growing economic and political exposure is ensuring long-term demand for renewable energy within Bedminster’s primary markets of North America, UK and Ireland.

The Waste Disposal Crisis

• Critical regional scarcity of landfill space is driving the need for alternatives, creating a valuable market driver, particularly in island communities and Europe.
• Extensive legislation is requiring major reductions in environmentally harmful landfill and substantial increases in landfill tax, further accelerating the demand for alternatives.

Bedminster is ideally positioned to support the growing opportunities in renewable energy.

• The market for renewable energy is already growing rapidly – currently at 30% per year.
• Legislation and market forces will ensure that the market continues to be robust for decades to come.

Demand for Renewable Energy

The US produces 17% of global energy yet consumes 23% while the EU is increasingly relying on imports for its growing energy requirements. Both markets are actively seeking to address this economic and political exposure.

The US alone generated circa 4.1 billion MWh of electricity in 2006 worth approximately $361 billion. Non-hydro renewable energy accounted for less than 2.4% of production. A growing number of US states are now taking aggressive action by mandating Renewable Portfolio Standards on their electricity markets, and considerable legislation has already been passed:

• Renewable energy mandates have created a substantial demand in the market…
• Requiring 20% renewable in California by 2010,
• Requiring 24% renewable in New York State by 2013
• Mandating similar requirements in 23 other states plus Washington D.C.

In Ireland, the Renewable Energy Feed-In Tariff (REFIT) is providing direct incentives by guaranteeing favourable off-take prices for electricity generation from renewable sources.

Waste Disposal Crises

Bedminster is also poised to support the growing market opportunities due to mounting crises in waste disposal, positively differentiating the Company from most other renewable energy companies.

Opportunities are stemming from:

• Regional scarcity of landfill space particularly in mature urban areas and island communities, and
• Far-reaching legislation requiring and promoting aggressive landfill diversion.

Favourable legislative drivers include:

• The EU Landfill Directive, which requires that member states realise a 65% reduction of biodegradable waste sent to landfill from 1995 levels by 2020.
• The Landfill Allowance Trading Scheme (“LATS”) for England and Wales, which applies a fixed penalty of £150 per tonne of waste sent to landfill over the allowance granted in the scheme year.

UK landfill tax, which has risen from £15 per tonne in 2004 and will rise to £48 per tonne in 2010.