EMAIL DETAILS

You would have had to bury me at sea after a week with you an Roys in Tokyo,
I'd be fish food alongside Bin Laden.


Neil Callahan

Rosemont Seneca Partners

401 Greenwich Street, Suite 300

New York, New York 10013

917-945-9516 (m)

866-749-8879 (f)

www.rosemontsenecatech.com <http://www.rosemontsenecatech.com/>

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From: John DeLoche [mailto:jdeloche@rosemontseneca.com]
Sent: Tuesday, November 27, 2012 1:51 AM
To: Devon Archer
Cc: Hunter Biden; Eric Schwerin; Neil Callahan
Subject: Re: Confidential power plant project


thanks for the birthday wishes--definitely feeling old after a week as Roys
roomate!


Yes, now is the time to get these deals and the fund done!


Best,


John

On Mon, Nov 26, 2012 at 5:00 PM, Devon Archer <darcher@rosemontseneca.com>
wrote:

John,
This sounds like a very interesting opportunity. Looking forward to hearing
more.

Happy Birthday as well!

Let's get one of these done before you get really old!

I am available tomorrow other than 12:30 - 1:30pm EST.

Best,
Devon


On Nov 26, 2012, at 6:57 PM, John DeLoche <jdeloche@rosemontseneca.com>
wrote:

> Gents,
>
> Just spent a week in Tokyo with Roys and the staff of this power plant
company Platinum has formed in Japan, ICC Energy. I began introducing his
team to my network financing, senior management and other contacts there.
Bottom line is this power plant project appears very attractive, is being
run by very competent managers and could be a significant revenue generator
for us should we decide to be involved. Here is the background:
>
> Platinum bought a like new (one year of usage) 40Megawatt power plant from
Toshiba. At 40mw, this will be the largest biofuel power plant in Japan.
Palm oil will be the fuel. There is an energy shortage in Japan due to the
Fukushima disaster and the subsequent shut down of all Japan's nuclear
plants. Additionally, Japan consumes more power per capita than any country
on earth. The Japanese government is providing incentives to power providers
to develop alternative energy platforms (solar, wind, biofuel, etc).
Basically, we are taking advantage of a feed-in tariff provided by the
Japanese government which ensures a 20 year fixed price for power. This is
a very profitable project as a result. The equity in this single plant
(large enough to power a small city) could be worth $50 million or more.
Once this plant is operational there is the opportunity to roll up several
more and build a very large and profitable new power company.
>
> Roys and I discussed doing this as an RS vehicle to mitigate potential
issues with obtaining Japanese debt financing (upon which the success of
this project depends) given the highly conservative and closed nature of
Japan. I recommend we do so for the following reasons.
>
> There is both a near term recap opportunity (in conjunction with the debt
raise), fee opportunities as well as significant equity upside. Step one
would be helping obtain $30 million of bridge and project finance capital to
start the construction of the plant and recap some of Platinum's equity
contribution. This step would occur immediately after MEDI approval is
obtained, which could be as soon as mid December. All parties agree this
would be easier under a RS SPV. As equity holders, my understanding is that
this would not require us to be licensed (although I am licensed through
another BD).
>
> Roys is waiting for thoughts on how we structure the SPV, equity splits,
fees etc. Platinum owns 100% of the equity and has committed about $20
million to the project to the project thus far.
>
> Assuming we are all on board with moving forward on this, my suggestion is
we start at 2 and 20 in a 5 year fund structure and see where it goes from
there.
>
> Lets do a call to discuss on Tuesday if possible.
>
> Best,
>
> John
>
> Please excuse typos as this message was sent from my handheld device.
>


--
John DeLoche

Managing Director

Rosemont Seneca Technology Partners

One Market, Spear Tower, 36th Floor

San Francisco, CA 94105

office: 415 293 8147

mobile: 415 793 7070


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