Kenth Boegeskov Pedersen CEO, Founder at BEA Fund, LLC kenthpedersen@boxbe.com Palo Alto, CA. Park City, UT | Renewables & Investment Current CEO, Founder at BEA Fund, LLC CEO, Founder at Rare Earth Energy, LLC Chairman, Founder at Carbon Emission Negative, LLC CEO, Founder at Hyphase Energy, Inc. Past Chief Business Development Officer at Neah Power Systems, Inc. Director at Sakhalin International Center for Entrepreneurial Development Education University of California, Davis University of California, Berkeley Websites Company Website - Hyphase Energy Company Website - Carbon Emission Negative Bio Website Twitter https://twitter.com/KenthPedersen LinkedIn http://www.linkedin.com/in/kenthpedersen Facebook http://www.facebook.com/kenth.boegeskov.pedersen

Summary

Kenth Pedersen is an accomplished renewable energy entrepreneur, inventor and investor, with over twenty years of renewable energy, and entrepreneurial finance and development experience. His area of specialization is fuel cells and related technologies and markets, and he is credited with inventing the first three-dimensional PEM fuel cell electrode and hybrid electrolyte fuel cell. Kenth also possesses a deep understanding of carbon markets, electrolytic and photoelectrolytic hydrogen production, solar and wind generation, and desalination, through startup projects and dissertation research. At UC Davis, Kenth's dissertation, Sustainable Energy Technology Investment, centered on sustainable energy investment risk assessment and mitigation, facilitated by means of investing through a carbon hedge fund. His ultimate objective is to build a carbon hedge fund based on this research, and populated, inter alia, with his clean-tech startup projects. At UC Berkeley, Kenth studied entrepreneurship, as well as Russian language, culture and history, and merged these disparate disciplines through an individualized cross disciplinary research major, Russian Entrepreneurial Development, a senior thesis, The Political Economy of Russia's Informal Entrepreneurship, and a one-year internship as director of the Sakhalin International Center for Entrepreneurial Development (SICED). SICED was a business incubator and microfinance venture capital fund financed by George Soros, and founded by Sakhalin Governor Valentin Fedorov and Dr. Fred Kiesner, at the initiatives of Mikhail Gorbachev and Boris Yeltsin. Kenth was born in Vancouver, British Columbia, Canada, to Danish immigrant parents, in 1959. Shortly thereafter, he and his family moved to Long Beach, California. At the time, Los Angeles was one of the most polluting cities in the United States, possibly the world. As a Southern California Military Academy cadet, Kenth remembers his school closing numerous times due to "smog days". In October 1954, Los Angeles schools and industry shut down for most of the month due to heavy smog. Though an accomplished athlete, who greatly enjoys the 1.5-hour barefoot run up Sweeney Switchback to the summit of Park City Mountain Resort (10K feet, 5 miles and 3,000 feet each way), Kenth's health suffered as a result of spending his childhood trapped in the polluted inner city. He’s now on a mission to make sure this doesn't happen to anyone else and that this beautiful world is passed on to subsequent generations in pristine condition. Kenth is the proud single father of four grown sons, and like his boys, he is an inveterate explorer. He and the boys spent a year in the Russian Far East helping to bring democracy and a market economy to the Soviet Union immediately following its collapse. They also spent several years in Hornbæk Denmark, a small fishing village on the Danish Riviera, where the boys were introduced to their Danish roots. Kenth has always had a passion for entrepreneurship. At the ripe old age of 5, he walked onto the University of Washington campus, gathered up some chestnuts from the dew-covered, manicured lawns, and displayed them neatly alongside a well-traveled path, whereafter he proceeded to try to sell them to passing students. Andrew Carnegie, Howard Hughes and Steve Jobs are his favorite captains of industry, and he is working hard to join their ranks by bringing affordable, renewable energy to the world.

Select Cleantech & Russian Entrepreneurial Projects

CEO, Founder Rare Earth Energy, LLC Renewables & Environment industry 2010 – Founded in 2010 for the purpose of identifying and sustainably developing Rare Earth Element (Lanthanoids & Actinoids) resources. Lanthanoids and Actinoids are critical to the renewable energy industry; In 2010, REE was contracted to sell one of the world's most significant REE mineral claims, where a main focus was high net worth Russian investors; REE also sought to acquire the property, thereafter completing a needed NI 43-101 or JORC feasibility study, and reselling the property at an NPV based on the new indicated resource assessment (3x return); REE developed and executed a contract with the owners to retain all thorium contained in the asset (one of the world's largest deposits) as a risk mitigation instrument upon sale or acquisition of the company.

Chairman, Founder Carbon Emission Negative, LLC | www.carbonemissionnegative.com Renewables & Environment industry 2010 – Carbon Emission Negative (CEN) is the carbon origination and trading front end of a nascent carbon hedge fund, Boegeskov Energy Adamas (BEA); CEN is a full-service carbon consulting and solutions provider, being positioned, inter alia, to assist California in its efforts to meet AB32 carbon cap obligations; CEN also liquidates carbon through consumer goods, such as CEN Green Drinks, and Ægle Ultra Premium Deep Ocean Spring Water; CEN is in talks to represent Vestas in Russia, as they endeavor to install 5,000MW of turbine capacity there by 2015, where CEN will have first rights of refusal to harvest all JI carbon originated from these projects; CEN is in talks with the DOD to assist with the military’s greening efforts by providing carbon negative fuel solutions; CEN is in talks with the California State Legislature to assist California in meeting its AB32 transportation carbon cap obligations through special CEN HOV certifications.

CEO, Founder BEA Fund, LLC Investment Management Industry 2010 – The Boegeskov Energy Adamas (BEA) Fund is a nascent stage carbon hedge fund and continuation of Kenth's dissertation research at the University of California Hydrogen Pathways Project.

Chief Business Development Officer Neah Power Systems, Inc. | www.neahpower.com Renewables & Environment industry January 2009 – September 2009 Kenth joined Neah following the acquisition of his company, Hyphase Energy, by Neah; Introduced Neah to high net worth Russian & American investors; Responsible for development of markets for Neah's non-planar silicon electrode anaerobic Direct Methanol Fuel Cells (DMFC); Negotiated Memorandum of Understanding (MOU) and Letter of Intent (LOI) with EKO Vehicles of Bangalore, India, to create one of the world's first alcohol fuel cell powered hybrid electric scooters; Negotiated Letter of Intent (LOI) with Hobie Cat, to create the world's first fuel cell powered electric kayak; Invented an aerobic iteration of Neah's anaerobic DMFC fuel cell, thereby creating the world's first Hybrid Electrolyte Fuel Cell; Conceived of the Hybrid Electric Renewable Micro Energy Stations (HERMES) concept . The HERMES micro-power plant consists of one of several possible combinations of hybridized solar arrays, wind turbines, direct methanol or hydrogen fuel cells and arrays of portable VRLA batteries that can readily be transported to end users in off-grid locations; Negotiated Letter of Intent (LOI) with EKOVEHICLES, India's number one producer of two-wheeled electric vehicles, to build HERMES systems in India.

CEO, Founder Hyphase Energy, Inc. | www.hyphaseenergy.com Renewables & Environment industry 2006 – 2009 Planned, developed and established policies and objectives for a sustainable energy technology venture; Secured Seed round financing; Invented award winning non-planar or three-dimensional PEM fuel cell architecture, for use in hydrogen and direct methanol/ethanol fuel cell applications; Successfully completed proofs of concept on time and under budget, with independent University of California validation, demonstrating first 3D PEM fuel cell electrode (Plitrode); Finalist, Energy Efficiency Category, 2006 California Clean Tech Open business plan competition; Winner, 2005 UC Davis Graduate School of Management, ITS Little Bang business plan competition; Winner, 2005 UC Davis, Graduate School of Management, Big Bang, business plan competition, People's Choice Award; Semi-Finalist, 2005 UC Berkeley, Haas School of Business, business plan competition; Center for Advanced Technologies (Denmark) entrepreneurial development award and seed funding for novel fuel cell architecture, 1999.

Founding Member, Researcher CleanStart | http://www.cleanstart.org/index.html Renewables & Environment industry September 2004 – March 2005 Founding member and researcher for the SARTA sustainable energy technology business incubator project, CleanStart. CleanStart began as a California Energy Commission (CEC) funded 8-month needs assessment study analyzing how a clean energy business incubator might serve a Capital Corridor region extending from Reno to the East Bay; Co-author of Clean Energy Incubator Project Final Report; Co-author of Clean Energy Incubator Project Final Technical Report;

Founding Member, Researcher Hydrogen Investment Project, Hydrogen Pathways Project, UC Davis | http://hydrogen.its.ucdavis.edu/ Renewables & Environment industry August 2002 – August 2004 Lead graduate researcher for the Hydrogen Infrastructure Investment and Entrepreneurial Development research project, for the Institute of Transportation Studies multinational study, Transportation and the Hydrogen Economy: Pathways and Strategies; Responsible for technology evaluation and investment risk assessment and mitigation strategies, for solar, wind, fuel cell and nuclear renewable energy technologies.

Advisory Board Member North American Bioenergy Resources, LLC Renewables & Environment industry 2003 – 2006 Assisted with development of intrapreneurial biohydrogen production filial branch of NABR; Assisted with due diligence of various ethanol to hydrogen reformation technologies, including novel electrolyzer technology conceived of by Kenth, Ethanol Assisted Steam Electrolysis (EASE).

Advisory Board Member Solid Oxide Systems, LLC Renewables & Environment industry 2002 – 2003 In exchange for equity in the company, Kenth developed a new business plan for Solid Oxide Systems, LLC (H2onsite) for the purpose of competing in business plan competitions and brokering funding. The new business plan placed among the top five finalists in the UC Davis Graduate School of Management Big Bang Business Plan Competition before the company exceeded the $500K funding limit; The company was developing a novel High-Efficiency Steam Electrolyzer that could produce high-pressure, high-purity hydrogen gas at breakthrough pricing; Coauthored research paper, which analyzed several electrolytic hydrogen forecourt production technologies (Proton Energy – PEM, Stuart Energy – KOH, Solid Oxide Systems – NGASE) utilizing renewable primary energy, to determine how to implement this pathway immediately. Renewable energy for the project was sourced from the PAVES photovoltaic facility on the outskirts of Davis California, with the electrolysis technologies placed there in forecourt configurations; Conceived of an ethanol iteration of the NGASE system, known as the Ethanol Assisted Steam Electrolyzer (EASE).

CEO, Founder OPEC Renewables & Environment industry 2002 – Planning, developing and establishing policies and objectives for a sustainable energy technology venture, based on a novel fresh water and solar hydrogen production technology, and a low-cost delivery system. This pathway is particularly well suited to developing countries bereft of energy and water resources, as well as remote areas without delivery infrastructures (OPEC white paper available on limited basis with NDA).

Director RPA A/S 1998 – 1999 Kenth was hired to create and manage a startup located in Denmark and Russia, conceived of by him, which sold wireless systems throughout Scandinavia and Russia. RPA was based out of Saint Petersburg, Russia, and Espergærde, Denmark.

Director Sakhalin International Center for Entrepreneurial Development Investment Management Industry 1994 – 1995 Managed operational and administrative infrastructure of a micro-business incubator founded by Dr. Fred Kiesner, Hilton Chair of Entrepreneurship, Loyola Marymount University, George Soros, and former governor and deputy minister of the Russian economy, Dr. Valentin P. Fedorov; Developed GAAP control and accounting protocol; Gave seminars, consultations, and television appearances on entrepreneurship, business planning, and sourcing of private and public equity and debt funding for new business ventures in Russia; Grant writing (e.g. USAID, Eurasia Foundation entrepreneur exchange program grants); For a full account, please read Kenth's book, A Strange American.

Education

University of California, Davis Institute of Transportation Studies, College of Engineering | www.its.ucdavis.edu Ph.D. Student, Transportation Technology & Policy 2002 – 2005 (on hold to pursue Hyphase) The graduate group in Transportation Technology and Policy provides a modern interdisciplinary education for addressing pressing transportation, environmental, economic, and social problems facing the nation and the world; The thesis project, Sustainable Energy Technology Investment, focused on development of a sustainable energy hedge fund model, which identified and mitigated the risks associated with investment in sustainable energy technologies. This work is being continued through the BEA carbon hedge fund project. University of California, Berkeley Interdisciplinary Studies, College of Letters & Science | http://ugis.ls.berkeley.edu/isf/ BA, Russian Entrepreneurial Development 1992 – 1996 The Russian Entrepreneurial Development major, an independent student designed program, is an amalgam of Russian language, culture and history, and entrepreneurial finance and development, which examines entrepreneurial development in Imperial Russia, the Soviet Union and post-Soviet Russia; The degree included a one year internship as the director of the Sakhalin International Center for Entrepreneurial Development - birthplace of Russia's post-Soviet market economy; The degree culminated in a senior thesis, The Political Economy of Russia's Informal Entrepreneurship.

Honors & Honorary Societies

Knight of the Order, Sovereign Order of the Orthodox Knights Hospitaller of Saint John of Jerusalem. At invitation of Countess Nicholas Bobrinskoy, Grand Chancellor, and Mr. Paul Rodzianko, Hereditary Knight Commander, 2011, investiture TBD. The Russian Tradition of the Hospitaller Knights was founded by Emperor Paul I of Russia, and emerged when the Mediterranean stronghold of Malta was captured by Napoleon in 1798 when he made his expedition to Egypt. The Sovereign Order has devoted itself to the chivalric mission of helping the sick, the needy and the distressed; U.S. Department of Energy Graduate Automotive Technology Education (GATE) Centers of Excellence Grant, University of California, Davis, 2004. The program provides graduate fellowships for outstanding students in the fields of fuel cell and hybrid vehicle science and engineering; Center for Advanced Technologies (Denmark) entrepreneurial development award and seed funding for novel fuel cell architecture, Denmark, 1999; Golden Key National Honor Society member, University of California, Berkeley; Dean's Honor List, University of California, Berkeley, 1993; Semester Honors, University of California, Berkeley, 1993, 1994, 1995; G. Douglas, UNA, G. M. Martin, and L. Dessaur academic scholarships, University of California, Berkeley.

Skills

Fluent English (native); Fluent Danish (through advanced Danish at UCB with 4.0 GPA, 7+ years immersion in Denmark); Serviceable Russian (1 year at UCB with 4.0 GPA, 1 year immersion in Russia); Rudimentary German (1 year college level study with 4.0 GPA); Business plan development (advanced); Renewable energy industry analysis (advanced); Investment due diligence (intermediate); Financial modeling (intermediate – advanced).