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Lakeside Energy has made three investments
in the energy industry. One is in the independent power generation
industry and two are in the renewable energy industry.
| POWER GENERATION |
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| Lakeside Hazleton LLC |
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| Lakeside Energy has a 100% ownership
interest in a 150 MW natural gas-fired peaking power plant in
Hazleton Pennsylvania that supplies electricity to the Pennsylvania-Jersey-Maryland
(PJM) regional transmission organization and is an important
facility in the transmission-constrained Eastern zone. Lakeside
Hazleton is located on 39 acres and has four gas turbines, 3
GE LM 5000s and 1 Alstom. Lakeside operates the facility. As
a member of PJM, Lakeside Hazleton will commit its capacity
to PJM via the Reliability Pricing Model (RPM) process. PJM's
RPM process provides secure, mid-term predictable capacity pricing.
Since the facility was acquired from Williams Company in 2007,
Lakeside has invested significant capital to refurbish these
assets to increase the performance and reliability of the power
plant. Lakeside is currently evaluating the opportunity to repower
the facility to further increase its capacity and reliability
to PJM. Lakeside intends to complete additional strategic acquisitions
in the power generation sector as it strives to build a portfolio
with geographic and fuel source diversity. Focused on long-term
contracted assets in key geographies, Lakeside's power generation
business will target primarily natural gas, coal, biomass and
renewable fuel opportunities. |
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| RENEWABLE ENERGY |
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| Dongara Pellet Plant, LP |
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| Lakeside Energy with its partners
Borealis Infrastructure, the infrastructure investment entity
of Ontario Municipal Employees Retirement System (OMERS), one
of Canada's largest pension plans with over Cdn$50 billion in
assets, Toronto-based Strada Group and Marel Group and an affiliate
of US based Nautilus Renewables LLC, own Dongara Pellet Plant
LP (Dongara) a municipal solid waste solution company with its
first facility in Toronto, Canada. The business of Dongara is
to provide municipal solid waste (MSW) solutions to cities in
North America. Dongara enters into long term contracts with
municipalities to take their MSW and use it as a feedstock to
manufacture a clean and renewable engineered fuel product. A
patent has been issued in the U.S. and others are pending in
Canada and Europe. Benefits of such a proprietary process include
reduction in the need for landfills and landfill space, reduction
of methane emissions from landfills (methane is a greenhouse
gas with 21 times the potency of CO2), as well as reduced truck
emissions due to the streamlining of waste pick up and ultimate
waste drop off. The engineered fuel produced is designed and
manufactured to be a competitive substitute for fossil fuels
and traditional biomass. It has a heat content of 10,000 to
12,000 btu/lb, which is consistent with the heat content of
typical steam coals, but has a significantly cleaner emission
profile. The partnership currently has one 200,000 ton per year
MSW facility in Canada that began operating July 2, 2008 and
is currently ramping up to full capacity. The engineered fuel
produced from this plant will be capable of making 80 -100 MW
of renewable energy. Construction of additional facilities is
anticipated in 2010 with long-term plans to build many more
plants in North America. |
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| InEnTec Chemical LLC |
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Lakeside Energy and InEnTec LLC have
partnered to form a new joint venture, InEnTec Chemical
LLC (InEnTec Chemical), to provide the chemical industry a sustainable
solution for the elimination of their wastes. InEnTec Chemical
will take chemical and hazardous wastes that are currently being
incinerated or landfilled, and through the installation of its
patented proprietary technology, the Plasma Enhanced Melter
(PEM), recycle these wastes into valuable feedstocks. These
high value feedstocks already being purchased and consumed by
the chemical companies include clean synthetic gas, hydrogen,
methanol, ethanol, or synthetic diesel. The PEM not only allows
the chemical customer to receive value from what is otherwise
only a cost of disposal, the PEM provides a substantial reduction
in the chemical customer's environmental footprint with reductions
or eliminations of all pollutants including but not limited
to carbon dioxide, nitrogen oxide (NOx), sulfur oxide (SOx),
mercury and other heavy metals, halogens, and furans. InEnTec
Chemical will provide these benefits as a service offering utilizing
a build, own, and operate model on a global basis. Lakeside
Energy anticipates investing $150mm of equity in the deployment
of additional InEnTec Chemical facilities globally.
The first InEnTec Chemical project is under construction and
is onsite at Dow Corning's Midland, MI facility and will be
utilized for the recycling of their chlorinated organic residuals,
a waste that comes from making silicon for solar panels and
computer chips. InEnTec Chemical's Dow Corning project will
be operated by Veolia Environmental Services (NYSE:VE), a world
leader in environmental services. InEnTec Chemical plans to
provide chemical waste recycling services to many of the top
25 chemical companies. |
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