EMAIL DETAILS

Very interesting. I'd ask them if they have any expertise in fast pyrolysis/bio-mass.

On raise, this will be an amazing pro-forma if I can get this oil burned for kwhs in DE to qualify for itc. If not, it's still solid. We'd of course be happy to pay the standard ibank commission or carry on the raise.

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: hbiden@rosemontseneca.com
Date: Tue, 13 Apr 2010 23:50:41
To: Wade Randlett<Wade@NextFuels.com>
Subject: Re: re[2]: DE City

UD could be a great way to create more internal value. President Harker (former dean of Wharton) is very sophisticated and UD is nationally recognized for its engineering and agricultural programs. They recently acquired the Chrysler Auto plant property and plan to create an "alternative energy park" on the site. We are currently in discussion with them to place an assembly plant for a clean tech company and a research facility for a world leading medium tension/ voltage electrical transmission company. The possibility that we could also place a pyrolysis oil refining unit assembly plant their could be huge. Furthermore, UD is a world leader in photovoltaic technology. Also, we would be very interested in assisting in any private capitol raise.
Sent on the Sprint® Now Network from my BlackBerry®

-----Original Message-----
From: Wade Randlett <Wade@NextFuels.com>
Date: Tue, 13 Apr 2010 15:25:36
To: Eric Schwerin<eschwerin@rosemontseneca.com>
Cc: Hunter Biden<hbiden@senecaga.com>
Subject: re[2]: DE City

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 <eschwerin@rosemontseneca.com> <mailto:eschwerin@rosemontseneca.com>
To: Wade Randlett <Wade@NextFuels.com> <mailto:Wade@NextFuels.com>
Cc: Hunter Biden <hbiden@senecaga.com> <mailto:hbiden@senecaga.com>
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
eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>
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