Subject: re[2]: DE City
From: "Wade Randlett" <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: "Hunter Biden" <[email-masked]>
Date: Tue, 13 Apr 2010 15:25:36 -0700

Great.  Happy to talk to them.

Best,
/w
-------------------------------
Wade Randlett
Co-founder

NextFuels, Inc.

381 Bush Street
Suite 300
San Francisco, CA 94104
415-397-3767
415-397-3768 fax

----------------------- Original Message -----------------------

From: Eric Schwerin <[email-masked]>

To: Wade Randlett <[email-masked]>

Cc: Hunter Biden <[email-masked]>

Date: Tue, 13 Apr 2010 18:23:21 -0400

Subject: Re: DE City

Sounds good - we've been talking with Alan and his staff on this they are wanting to get something done if it makes sense.  At some point too we may want to see if there is an angle for the University of Delaware to play.  They have been talking to us about finding more commercialization opportunities for them and there may be something there we should talk about.

Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

[email-masked]

P Consider the environment before printing this email.

On Apr 13, 2010, at 6:21 PM, Wade Randlett wrote:

Hi Hunter & Eric,

I expect to talk to Alan Levin tomorrow per his email.  I will broach a much bigger idea with him that makes the power plant more valuable than even the extremely lucrative renewable diesel plant.

We believe that we can structure a deal that gets the 30% cash-back ITC for burning bio-oil in DE, and we could use the DE City site for a permanent manufacturing site to license the Honeywell technology and build the pyrolysis oil refining units there.  We now believe that we could export dozens of these $50m/copy units overseas to our palm oil customers, so that rather than just doing a one-off retrofit of the existing refinery (which we still want to do), we could create a true advanced-manufacturing hub there.  My goal is to have this be a re-prioritization of the ~$10m or so that we would ask DE to loan, not an increase in the amount we would seek.

Let me get through my call with Alan and I'll come back to you with how we could raise more private $ to make this exponentially bigger.

Best,

/w

-------------------------------

Wade Randlett

Co-founder

NextFuels, Inc.

381 Bush Street

Suite 300

San Francisco, CA 94104

415-397-3767

415-397-3768 fax

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