Tractors, Trailers & Support Natural Gas Powered

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1 Tractors, Trailers & Support Natural Gas Powered Natural Gas Transportation & Equipment: Specs & Value June, 2014 Michael E. Winterfeld, ASA

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3 Natural Gas Terms & Ratios Compressed Natural Gas: Natural Gas stored at pressures up to 3,600 psi. Approx. (290 X) reduction by volume from ambient gas Liquefied Natural Gas: Natural gas cooled to -260 F to its liquid form. Approx. (580 X) reduction by volume from ambient gas (Saturated & Unsaturated) Mcf: One thousand cubic feet of natural gas (1 million BTU) Tcf: One trillion cubic feet of natural gas (1,000,000,000 million BTU) DGE: Diesel Gallon Equivalent (1.73 Gal LNG = 1.0 Gal Dsl) equal energy (75,000 btu/lng Gal v 129,500 btu/diesel Gal. 1 Mcf = DGE NGV: Natural Gas Vehicle [light-duty, vocational, buses, heavy-duty commercial] Nat Gas also has a 10-15% LOSS in efficiency At $4.00 Gal (Diesel) and $5.00 MCF (Nat Gas) = $2.50 DGE (w/taxes) Final Result: Savings of $.15 to $.25 per mile (6 MPG) 3

4 Fuel Costs: Charted Quarterly Fuel Cost per Gallon or DGE $6.00 $5.00 Diesel Natural Gas Linear (Diesel) US Dollars $4.00 $3.00 $2.00 $1.00 $0.00 Time Frame 4

5 Economic / Industry Facts Currently NGV are produced and used world-wide. Examples: Chevrolet, Ford, Mercedes, Volkswagen, Honda, Hyundai, Volvo, Paccar, Mack, Navistar, Gillig, Blue Bird, Cummins/Westport, American Power Group Tcf of energy used world-wide in 2011 for On-Road Vehicles, (2-3% by NGV) 2050: Under high oil prices, 50% of market will use NG Currently (USA): Limited vehicle availability, very limited infrastructure (nationally) Pockets of availability (locally) Supply of Nat Gas: Currently 100 Years & Growing, Low Prices $3.50/Mcf = $28/ barrel of oil Currently NVG s cost more (to buy or convert), but cost much less to operate Federal Vehicle Purchase Credit, State Incentives EPA Requirements (Tier I, II, III, IV, CARB, etc.) makes NGV more competitive. 5

6 Natural Gas Engine / Service Facts NATURAL GAS IS HIGHLY FLAMMABLE - Lighter than Air Fueling & Service Centers need: Detectors, Sensors, Ventilation Systems, Specialized Anti-Spark Heating, Lighting & Electrical Systems Natural Gas Ignites by Spark or Pilot Inject: 100% Nat Gas uses: Spark to create ignition Hybrid Engines (Diesel/Nat Gas) utilizes Diesel under Compression to ignite which immediately ignites the natural gas Natural Gas Alone: Urban areas, Start-Stop Applications, Lower HP Hybrid: On-Highway (LTL, TL) Need Engine Modifications, Fuel Tank(s) w/delivery System, Need Training for Maintenance, Fueling, Storage, etc. 6

7 Typical Dual Fuel Configuration 7

8 Class 8 Production 1998-Present 50,000 Class '8' Actual Rolling Aver. 48 mo. USA Class "8" Production 45,000 4 Yr Freightliners 40,000 Fuel Price x 10k 35,000 Linear (Class '8' Actual) 30,000 Volume 25,000 20,000 15,000 10,000 5,000 0 Historical By Month 8

9 2013 F/L: Diesel Asking Price 9

10 2014 F/L CNG Asking Price 10

11 Cost Info: Power: Price CNG vs. Diesel (2013) 2014 F/L Model CA113DC (ISX-12) : $165,000 vs. Diesel (DD13 ): $101,798 [$63,202: CNG] (2013) 2014 F/L Model M2-112 Day: $159,000 vs. Diesel (DD13): $103,509 [$55,491: CNG] (2013) 2014 Pete Model 382 (ISL-G), Day, S/A: $138,231 vs. Diesel (ISL): $86,000 [$52,231: CNG] (2012) 2012 Mack Model LEU63 Refuse/McNeilus-Front-43 Yard: $266,490 vs. MRU 613 Front Load, Diesel (M7): $200,364 [$66,126: CNG] (2012) 2013 F/L Model M2-112 Day (ISL-G): $159,051 vs. Diesel (DD13): $98,273 [$60,778: CNG] (2012) 2013 F/L Model M2-112 Chassis (ISL-G): $137,500 vs. Diesel (DD13): $93,478 [$44,022: CNG ] Cost of Engine & Build Up (Tanks & Delivery System): Currently $60,000 +/- Premium: Part of difference is subsidized by government(s) to incentivize acceptance/use As technology is adopted (demand increases and R&D is recovered) costs will come down Governmental incentives will likely be reduced and ONLY go to original buyer % Fuel Savings Cost (125,000 miles / 6.5 miles/gal = 19,230 gallons) $3.50 x 19,230 = $67,300 Diesel Fuel Cost x 30% = $20,200/Year SAVINGS. This (and credits) pays for up-charge!? 11

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14 CNG Tanks: Back of Cab (Behind Sleeper) 14

15 CNG: Back of Cab Stack, 3,4 or 5 Cylinders 15

16 Cut-Away of a CNG Fuel Tank (Aluminum, Formed HDPE, Fiber Wrapped) 16

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18 Installed LNG Tank Note: Vaporizer 18

19 LNG: Fuel, Vent, Pressure 19

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21 Valuing Natural Gas Powered Units Developing Technology, where costs typically come down over time Principle of Substitution: Day One reduced to near standard Diesel pricing Tax Credits, Incentives don t go with the vehicle, first buyer only JFK: Rising Tide Most Used Equipment not yet in Marketplace to fully measure Market Approach. Anticipate similar useful life, the engine burns cleaner, there are more components and slightly different engine oil may be required. Issues arise whether Single Fuel or Dual Fuel (Maintenance) 21

22 QUESTIONS PLEASE! 22

23 LNG Mobile Storage Vessel w/ Vaporizer Description: 16,700 Gallon (nominal capacity), Double Walled, Vacuum, Super Insulated, Mobile LNG station, self-contained Heat Assisted Vaporization Circuit, Electric Vaporizer & Controls. [Ready to Operate Vapor Delivery at up to 20,200 SCFH (4.2 GMP LNG)] Equipment Specifications: Horizontal-Cylindrical; 16,866 US Gallons; Product Service: Liquid Methane (LNG); Service Temp: -320 F; Max Working Pressure:113 PSIG; Length: 53 Ft.; Width: 102 Inches; Height: 13 3 ; Trailer Weight (w/out Vaporizer): 47,900 Lbs. (+/-3%); Evaporation Rate: 0.55% in 24 Hrs. Inner Vessel: Coded: ASME Boiler & Pressure Vessel Code-Stamped as Such; 304SS; 94 In. Nominal Inside Diameter; RT-2 Radiography.; Cleaned for Cryogenic Service per CGA 341; Schedule 10 Internal & Annular Piping-304SS with Sch 40 Penetration; 16 In. Diameter Manway, Welded, Non-Access Outer Vessel (Or Vacuum Casing): Collapse Pressure to 30 PSI per CGA 341, Equipped with Pressure Relief to Prevent Inner Vessel Collapse or Rupture of Outer Casing; Outer Vessel Doublers; Vacuum Connection: 1.5 In. Vacuum Valve; Hasting TC Tube; Hoke Valve; 6 In. Safety Device Outer Jacket: Shell: A Carbon Steel w/ 304SS Rear Course; Heads: Front: A-36 Carbon Steel w/ SS Splash Plate; Rear: 304SS Insulation: Super Insulation Compatible w/ a High Vacuum (Minimize Product Boil-Off) Vaporization System: PLC Controlled; Mounted in Rear Cabinet; Electric Vaporizer 23

24 Mobile Schematic 24

25 Liquefied Natural Gas (LNG) Transport Description: 12,600 Gallon (nominal capacity), Double Walled, Vacuum Insulated, LNG Transport Trailer Furnished w/ Piping & Components to Operate as Product Delivery Equipment Specifications: Horizontal-Cylindrical; 12,835 US Gallons; Product Service: Liquid Methane (LNG); Service Temp: -320 F; Max Working Pressure: 70 PSIG; Length: 48 Ft.; Width: 102 Inches; Height: 12 0 ; Trailer Weight: 24,546 Lbs. (+/-2%); Evaporation Rate: 0.40% in 24 Hrs.; MRHT: 1122 Hrs (46.75 Days) Inner Vessel: Coded: ASME Boiler & Pressure Vessel Code-Stamped as Such; 304SS; RT-1 Radiography.; Cleaned for Cryogenic Service; Schedule 10 Internal & Annular Piping-304SS with Sch 40 Penetrations; 16 In. Diameter Manway, Welded Outer Vessel (Or Vacuum Casing): Collapse Pressure to 30 PSI per CGA 341, Equipped with Pressure Relief to Prevent Inner Vessel Collapse or Rupture of Outer Casing; Outer Vessel Doublers; Vacuum Connection: 1.5 In. Vacuum Valve; Frederic TC Tube; Hoke Valve; 5 In. Safety Device, Outer Jacket: Shell: A Carbon Steel w/ 304SS Rear Course; Heads: Front: A-36 Carbon Steel; Rear: 304SS; Lifting EyesL CVA Standard for picking up Empty Trailer Only Insulation: Super Insulation Compatible w/ a High Vacuum (Minimize Product Boil-Off) Running Gear: Corten Fabricated Frame; Air Ride w/dump; ABS; Alum Rims; Alum Fenders 25

26 Transport Schematic 26

27 Fuel where you need it 27

28 GTM Kelley Bros. Company: GTM: Basic Design: (9) steel cylinders, mounted in a welded steel rack, removable frame which is secured inside a 20 foot ISO Container. Each cylinder is hoopwrapped and resin infused. Each cylinder is 18 Ft. long x 25.2 In. OD (370 gal. water capacity/ cylinder). The rated capacity is 13,734 Standard Cubic Feet (SCF) per tube, with an approximate total capacity of 123,600 SCF. The working pressure is 3,250 PSIG. This module has a US DOT SP permit. This module s total outside dimensions are 7.42 Ft. (W) x 7.4 Ft. (H) x 18.0 Ft. (L). The modules can be transported in pairs, each module in a 20 Ft. ISO container, utilizing 40 foot container chassis, doubling the capacity. Retest intervals are every 5 years. Useful Life: 25 Years. Actually it could be indefinite, with successful 5 year re-tests. I anticipate more than 25 Years, due to the successful history of Jack B. Kelley. [Their experience comes from growing up with and working in the Jack B. Kelley family of companies, J.B. Kelley has been transporting specialty compressed gases since 1946 and has been developing of tube trailers since The first trailer in the J.B. Kelley fleet is still in use.] The GTM can be used to transport CNG (CH4) or compressed He, N2, H2, Air, or C2H6, per the DOT. Cost-New per module is: $125,000 or $1.01 per SCF. [Container Chassis cost approx, $12,350 or $.10 per SCF.] Total cost for a pair (2) 20 s is approx. $262,350 or $1.06 per SCF. 28

29 GTM 29

30 TITAN Lincoln Composites: TITAN: Basic Design: (4) all-composite (HDPE liner hoop-wrapped with a Carbon Fiber structure) cylinders, mounted in a frame which is secured inside a 40 foot ISO Container. Each cylinder is Ft. long x In. OD (2,245 gal. water capacity/ cylinder). The rated capacity is 88,750 SCF per tube, with an approximate total capacity of 355,000 SCF. The working pressure is 3,600 PSIG. This module has a US DOT SP permit. This module can be transported utilizing a 40 foot container chassis or mounted inside a trailer. Design life for this module is 15 years (DOT currently allows for the 5 year re-test only twice). Additional life may be obtained through experience and the periodic (5 year) testing. Useful Life: 15 Years. I anticipate that these tubes will be presented for re-test after the 15 year life. [Lincoln Composites has been working with filament winding for more than 40 years, primarily in the aerospace and defense industries. Additionally, per their literature, they have more than 130,000 cylinders located around the world.] The TITAN can be used to transport CH4 or compressed Air, N2, Ar, He, H2 or C2H6, per the Lincoln Composites. Cost-New per module is: $500,000 or $1.42 per SCF. [Container Chassis cost approx, $12,350 or $.035 per SCF.] 30

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32 FIBA-Canning FIBA-Canning: 10-Tube Trailer: Basic Design: (10) steel cylinders, mounted on a steel trailer. Each cylinder is 40 Ft. long x 22 In. OD (910 CF water capacity/cylinder). The rated capacity is 21,920 Standard Cubic Feet (SCF) per tube, with an approximate total capacity of 219,191 SCF. The working pressure is 2,748 PSIG. This module has US/UN codes for transportation (complies w/ DOT 3AAX). This trailer s dimensions are approx 8.5 Ft. (W) x 11 Ft. (H) x 45 Ft. (L) (includes trailer). The tubes are mounted on a tridem spread axle trailer. Retest intervals are every 10 years, per FIBA. Useful Life: 30 Years with 10 year refurbs. Actually it could be indefinite, with successful 10 year re-tests. I anticipate more than 30 Years, due to the successful history of FIBA-Canning. [FIBA has international experience in the transportation of compressed gases for 31 years.] The FIBA trailer can be used to transport CNG (CH4) or compressed He, N2, H2, O2, Air, or C2H6. Cost-New per trailer is: $268,000 or $1.22 per SCF (includes trailer). 32

33 FIBA-Canning 33

34 Additional Comments The FIBA trailer utilizes tried and true steel tube technology developed in the Mid-1900 s. The pressure rating is the lowest of the three, to increase the pressure rating the wall thickness would need to be increased, thus raising the overall weight to a point that the trailer weight limits the amount of CNG that could be hauled. Based upon historical data, the expected life of this unit should exceed 30 years, with proper maintenance, refurbishment and testing. The GTM module utilizes the steel tube technology as well, however is modified, by thinning up the tube slightly and hoop-wrapping, with resin infusion, allows for increased strength without increasing the weight, when compared to all-steel. This also allows for a higher pressure rating. Based upon historical data, the expected life of this unit should exceed 25 years, with proper maintenance, refurbishment and testing. The anticipated life is deemed to be shorter than the all-steel due to the potential for deterioration of the external resin wrap. The TITAN module utilizes an all-composite tube, which does not have the history, to allow the DOT to go beyond 15 years of useful life. [This same lack of history caused the US Gov t (transportation department) to place a limited life on the all-steel tube technology, when it was in its early years as well.] It is possible, after several years pass, tests may come back showing a maintained structural integrity to this type of technology and vessel, thus allowing the government to extend the life, typically, in five year increments. It is more likely that the vessel can/will be recertified at a lower PSI rating for a similar or alternative application. 34

35 LNG & CNG Trailer / Vessel: Pricing Equivalency CVA-16,700 Gallon Mobile Station w/vaporizer-lng: $440,000 or $351.30/Mcf CVA-12,600 Gallon Transport-LNG: $260,000 or $20.64/Gal or $275.13/Mcf GTM-123,600 SCF: Module-CNG: $125,000 or Double: $262,350 or $1,060/Mcf Titan-355,000 SCF: Module-CNG: $512,350 or $1,420/Mcf FIBA-219,191 SCF: Trailer-CNG: $268,000 or $1,220/Mcf v Btu s per Gallon (LNG) v Mcf: One thousand cubic feet of natural gas (1 million BTU) v 129,500 Btu s per Gallon (Diesel) v 9,500 Gallon Fuel Transport (1 Compart): $82,000 or $8.63/Gal or $66.64/Mcf 35

36 Valuation: Trailers CNG TRANSPORTS or TUBE TRAILERS Appraised Value Asset General Description VIN Est. Useful Life Forced Liquidation Value Orderly Liquidation Value Fair Market Value 2012 GTM (one module w/ chassis) (9) Steel cylinders, mounted in a welded steel rack, removable frame which is secured inside a 20 foot ISO Container. Each cylinder is hoopwrapped and resin infused. Each cylinder is 18 Ft. long x 25.2 In. OD (370 gal. water capacity/cylinder). The rated capacity is 13,734 Standard Cubic Feet (SCF) per tube, with an approximate total capacity of 123,600 SCF. The working pressure is 3,250 PSIG. This module has a US DOT SP permit. This modules total outside dimensions are 7.42 Ft. (W) x 7.4 Ft. (H) x 18.0 Ft. (L) w/ Chassis n/a 25 $98,800 $123,500 $132, TITAN (one module w/ chassis) (4) Composite (HDPE liner hoop-wrapped with a Carbon Fiber structure) cylinders, mounted in a frame which is secured inside a 40 foot ISO Container. Each cylinder is Ft. long x In. OD (2,245 gal. water capacity/cylinder). The rated capacity is 88,750 SCF per tube, with an approximate total capacity of 355,000 SCF. The working pressure is 3,600 PSIG. This module has a US DOT SP permit. w/chassis. n/a 15 $368,000 $460,000 $494, FIBA (one tube trailer) (10) Steel cylinders, mounted on a tridem spread axle trailer [conventional tube trailer]. Each cylinder is 40 Ft. long x 22 In. OD (910 CF water capacity/cylinder). The rated capacity is 21,920 Standard Cubic Feet (SCF) per tube, with an approximate total capacity of 219,191 SCF. The working pressure is 2,748 PSIG. This module has US/UN codes for transportation (Formerly DOT 3AAX). This trailers dimensions are approx 8.5 Ft. (W) x 11 Ft. (H) x 45 Ft. (L). n/a 30 $196,000 $245,000 $263,400 36

37 MORE QUESTIONS? 37

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43 C o nf ig u r a t i o n s 43

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46 LNG & CNG: Fuel Station 46

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50 Propane Fuel Tanks 50

51 BaDeep! BaDeep! BaDeep! Thats All Folks! 51