1. Next Generation Flow Batteries for Grid Scale Energy Storage June 2012 EnStorage Confidential Information

2. ENSTORAGE INCORPORATED Next Generation → Cost Effective Energy Storage Systems Formed by a Team of Entrepreneurs, Engineers and Scientists in 2008 Flow Battery Core Technology Licensed from Tel-Aviv University Backed by Leading Private Equity and Venture Capital Firms ─ Warburg Pincus ─ Canaan Partners ─ Wellington Partners ─ Greylock Partners ─ Siemens Technology-To-Business Broad Patent and Intellectual Property Portfolio Base Materials & Core Technology – 4 Systems and Control – 5 Proprietary Catalysts Proprietary Membrane Technology EnStorage Confidential Information 2 STRONG BACKING AND BROAD IP PORTFOLIO

3. Converting HBr → HBr 3 ENSTORAGE FLOW BATTERY – CHARGE CYCLE Charge Cycle Electrical Energy is Converted to Chemical Energy by the Stack Hydrogen is Electrochemically Compressed - No Mechanical Compressor EnStorage Confidential Information 3 Generating & Storing H 2 POWER IN 20 10 5 0 15 System Pressure (Bar)

4. ENSTORAGE FLOW BATTERY – DISCHARGE CYCLE Discharge Cycle Chemical Energy is Converted to Electrical Energy by the Stack Hydrogen is Consumed from Storage EnStorage Confidential Information 4 Converting HBr 3 → HBr POWER OUT 20 10 5 0 15 System Pressure (Bar) H 2 Consumed

5. ENSTORAGE FLOW BATTERY – OPERATIONAL CONCEPT EnStorage Confidential Information 5 Electrolyte Circulates in the Same Direction During Charge and Discharge Cycles The Charge Cycle Produces Hydrogen Gas that is Self Pressurized and Stored in Tanks – No Compressor in System Hydrogen Gas is Consumed in the Discharge Cycle is Stored as HBr in Tanks The System is Totally Self Contained – Nothing Comes In or Out A Single Pump is used for Electrolyte Cycling No Active Components in H 2 Flow Circuit Electrolyte Circulates in the Same Direction During Charge and Discharge Cycles The Charge Cycle Produces Hydrogen Gas that is Self Pressurized and Stored in Tanks – No Compressor in System Hydrogen Gas is Consumed in the Discharge Cycle is Stored as HBr in Tanks The System is Totally Self Contained – Nothing Comes In or Out A Single Pump is used for Electrolyte Cycling No Active Components in H 2 Flow Circuit

6. KEY ADVANTAGES OF ENSTORAGE FLOW BATTERY TECHNOLOGY EnStorage Confidential Information 6 Energy Conversion Cell has 3x Power Densities Compared to Other Flow Batteries Proprietary Low Cost Non-ionomer Membrane Proprietary Catalysts Low Cost Storage Chemicals Fast Response Times Large Patent Portfolio – 4 Granted / 5 New Patents Submitted Scalable for Either Power or Energy Energy Conversion Cell has 3x Power Densities Compared to Other Flow Batteries Proprietary Low Cost Non-ionomer Membrane Proprietary Catalysts Low Cost Storage Chemicals Fast Response Times Large Patent Portfolio – 4 Granted / 5 New Patents Submitted Scalable for Either Power or Energy

7. ENSTORAGE’S TECHNOLOGY VALIDATION PROGRAM EnStorage Confidential Information 7 ENSTORAGE TECHNOLOGY VERIFIED BY COMPREHENSIVE VALIDATION TEST PROGRAM – NEXT STEP IS UTILITY SCALE FIELD TRIALS Cell Level Technology Cost Reductions Cyclic Durability Cell Level Technology Cost Reductions Cyclic Durability Stack Level 5kW & 12.5kW Stack Cost Reductions Cyclic Durability Stack Level 5kW & 12.5kW Stack Cost Reductions Cyclic Durability System Level 5kW/2.5 kWh System Self Pressurization Automatic Operation System Level 5kW/2.5 kWh System Self Pressurization Automatic Operation

8. UTILITY SCALE ENERGY STORAGE SYSTEMS EnStorage Confidential Information 8 VALIDATING TECHNOLOGY AT UTILITY SCALE – TECHNOLOGY DEMONSTRATOR ON LINE EARLY Q3 2012 50kW/100kWh Technology Demo Fast Response Times Multiple Stacks Grid Interconnection 50kW/100kWh Technology Demo Fast Response Times Multiple Stacks Grid Interconnection 250kW/1.5MWh Product Prototype Product Costs System Manufacturing Operator Control - SCADA 250kW/1.5MWh Product Prototype Product Costs System Manufacturing Operator Control - SCADA

9. TARGET PARTNER ATTRIBUTES Integration Partner(s) Familiar with Chemical Processes & Products Familiar with System Packaging & installations Recognizes Need for Large Scale Energy Storage Experience with Grid Connected Power Electronics Global operations Testing Partner Could be an industrial partner in an industrial zone Availability of 3000-5000 sqft of land Familiar with corrosive chemicals & hydrogen Reputable in the Energy Industry Looking into expansion into new business – energy storage Preferable to also be Integration Partner EnStorage Confidential Information 9