EMAIL DETAILS

This is from the friend of Missy's whom you spoke with.

- Katie

---------- Forwarded message ----------
From: Brandon Hurlbut <brandon@boundarystonepartners.com>
Date: Thu, May 29, 2014 at 5:29 PM
Subject: Follow up to recent call with Hunter
To: Katie Dodge <kdodge@rosemontseneca.com>
Cc: Missy Owens <Missy.owens@gmail.com>, Kendra Kostek <
kostek@boundarystonepartners.com>, Jeff Navin <
navin@boundarystonepartners.com>


Katie - I don't have Hunter's email. Can you send this to him?

Hunter -

Thanks for taking time recently to learn more about my work at Boundary
Stone Partners, the firm I co-founded last summer. Below is a brief
treatment of a few Boundary Stone Partner engagements that may be worth
exploring investment and business development opportunities together.

You mentioned scheduling a meeting at your office where my business partner
and I could discuss these potential opportunities with you and your team.
We would really enjoy having that conversation. Please let us know if you
would like to schedule it.

*PRAIRIEGOLD SOLAR*


PrairieGold Solar (PGS) builds, owns and operates distributed-scale solar
projects (250kw to 10MW+), particularly on commercial and industrial
building rooftops.


PGS has a dedicated sponsor equity fund that it invests in projects. PGS
arranges tax equity & debt on a project-by-project basis. PGS focuses on
projects in North America with creditworthy off-takers that buy the solar
electricity under long-term contracts (Feed-in-Tariffs or Power Purchase
Agreements). They partner with developers, EPC firms, manufacturers and
can play a variety of roles in completing projects. The goal is to deliver
low-cost clean electricity AND good investment returns.


PGS was founded in 2013 and is an affiliate of Prairie Gold Venture
Partners (PGVP), a 10-year old venture capital firm with over $50M in AUM
across two funds and deep experience in renewables investing. The PGS team
builds upon PGVP’s experience in venture capital investing and brings
strong experience in project finance, large scale energy M&A and renewable
energy business management.


My firm, Boundary Stone Partners, raised eight-figure capital for the PGS
sponsor equity fund. We have a sizable equity stake in PGS and I am a
member of the board.


I believe we could work together on developing solar projects with your
realty properties and explore co-investment opportunities on distributed
solar projects or investment in our next round.


*SENSITY*


There are over 4 billion outdoor lights around the globe. By taking
advantage of the worldwide, outdoor lighting upgrade to LEDs, Sensity
<http://www.sensity.com> is building out a new, planet-sized sensor network
using that infrastructure to deliver both energy-efficient lighting and a
real-time, global database of information that allows customers to manage
and understand their physical environment to enable greater productivity,
efficiency, and security.


Sensity has developed the Light Sensory Network (LSN), a new class of
digital sensor network. LSNs turn LED lighting fixtures into
sensor-equipped, solid-state, smart devices capable of capturing and
transmitting sensory big data to the cloud. Each fixture becomes a node in
a powerful, broadband, carrier-grade network. Software developers can use
Sensity Systems’ open NetSense platform to develop applications that
utilize information from the LSN to provide valuable services for light
owners.


Sensity Systems customers represent a diverse cross-section of markets,
public and private, large and small. The company’s global customers include
Fortune 500 corporations, commercial and industrial property owners, retail
facilities, municipal and regional agencies, universities, school
districts, hospitals, transportation authorities, warehousing and
distribution facilities, and horticulture operations. Examples of important
customers include: the Port Authority of New York/New Jersey and Westfield
Malls nationally.


My firm, Boundary Stone Partners, is in deep negotiations with Sensity and
Detroit to deploy Sensity’s system in all 50,000 street light nodes across
the city. Boundary Stone Partners recruited a global financial services
firm to provide debt financing to Detroit to purchase the Sensity system.
Detroit may be the first city to deploy Sensity’s technology city-wide, and
we believe many other cities may follow. Sensity is a client to Boundary
Stone Partners. We would enjoy exploring investment and business
development opportunities with you.


*SPARKFUND*


SparkFund <http://www.sparkfund.co> is a software-driven transaction
management platform with a financing layer, targeting investment in energy
efficiency project assets. SparkFund is building the scalable transaction
and deal flow aggregation infrastructure needed to open up small & medium
scale energy efficiency retrofits as a viable asset class.


Their flexible lease financing products cover the upfront costs of
retrofits in small businesses, commercial & industrial buildings, and
community organizations like churches, schools and municipalities. By
embedding SparkFund's financing options in the sales processes of a
national network of contractors, installers and efficiency marketplaces,
they help their partners close more deals and increase their bottom line
while creating diversified deal origination exposure.


Once SparkFund has entered the market and built a portfolio of high-quality
project assets, they plan to leverage crowd investment to increase access
to capital, lower the market cost of available financing, and increase the
visibility and impact of energy efficiency investment in the United States.
For the first time, Americans will have the opportunity to put their money
to work making their communities more energy efficient while earning a
solid financial return.


I am an advisor to SparkFund and SparkFund is a client to Boundary Stone
Partners. We would enjoy exploring partnerships on energy efficiency deal
flow at your realty properties and investment opportunities.


*POWERHIVE*


Powerhive <http://powerhive.com> has developed a technology and
business platform that provides access to electricity and information via
wifi enabled solar micro-grids. They currently serve over a thousand
residential and business customers in emerging markets, particularly in
Africa.


Powerhive's micro-grid management and billing platform captures rich usage
and payment data from its customers who pre-pay for their electricity via
their mobile phones. This real-time data allows Powerhive to automatically
monitor system performance, analyze customer usage, manage payments and
communications with our customers. Their data driven approach provides a
powerful framework with which to unlock the massive and untapped energy
access market.


Powerhive grids are modular, scalable, and break even in about 4 years.
Over the past 2 years, they have completed initial pilot projects that
demonstrate key metrics proving its business model works. Powerhive’s
next pilot project for which they are seeking funding will serve
approximately 100,000 customers in the same region, will cost ~ $10,000,000
will return an IRR of ~ 27% and will be deployed over the next 12 months.
Customers and locations for these projects have already been identified.
One of the most profitable publicly traded solar companies in the world is
leading that investment. Powerhive has worked with that company for the
past 1.5 years. While this project barely scratches the surface in terms
of addressable market, it will provide a valuable reference for next 100
million customers. There are currently 600 million potential customers in
Africa who currently do not have electricity. Powerhive has been active
in conversations with various federal agencies about financing because its
product could be important to the Administration’s Power Africa
initiative.


Powerhive is client to Boundary Stone Partners. We would enjoy discussing
investment opportunities with you.


*VERSEON*


Verseon <http://www.verseon.com> is a Silicon Valley-based pharmaceutical
company that has developed a proprietary software platform to design and
model new drug candidates. Verseon’s technology platform allows the
company to develop multiple variants of novel drugs far more quickly than
traditional pharma R&D cycles and for a fraction of the cost.


The first drug candidates to begin moving through testing are a family of
blood thinner drugs. Verseon developed several dozen variants of the
drugs, applicable for a wide range of cardiovascular use-cases. It took
Verseon just three years and $6M to take the drug candidates from initial
concept through animal testing. They recently concluded animal testing and
the results were exceptionally good. We can provide more detailed
information on the results if we get a CDA in place.


As the results of the blood thinner candidates demonstrate, by using their
proprietary technology platform to replace much of the traditional
lab-based trial and error R&D, Verseon can generate a larger pipeline of
drug candidates at a much faster pace and at much lower cost.


Verseon is currently raising a $40M round of funding at the Verseon
parent-company level, and a $5M round for Nirog, the subsidiary created for
the blood thinner drugs. The company has raised about $20M for the parent
company and has only $1M left to raise for the subsidiary.


I introduced Verseon to Steve Chu because he is working on cellular and
molecular physiology at Stanford. Chu is impressed with their technology
and joined the Verseon board.


Verseon is client to Boundary Stone Partners. We would enjoy discussing
investment opportunities with you.
--
Brandon Hurlbut
LinkedIn: Profile <http://www.linkedin.com/pub/brandon-hurlbut/10/6a5/407>
Cell: 202-658-9483


--
*Katie Dodge*
Executive Assistant/ Office Manager
*Rosemont Seneca Partners*
*1010 Wisconsin Ave., NW, #705*
*Washington, DC 20007*
*202-333-1880