EnviroMission Ltd. (EVOMY)

[tykundegex]

Solar Tower Development Overview & 2012 Strategic Direction

(taken from http://www.enviromission.com.au/irm/Company/ShowPage.aspx/PDFs/1336-20559511/SolarTowerOverviewAnd2012StrategicDirection )


EnviroMission Limited (ASX: EVM) (OTCQX: EVOMY) 2011 has concluded a decade of
development since listing on the ASX, in the first instance to exclusively develop the Solar Tower
concept in Australia that resulted in the achievement of commercially driven engineering solutions
and enhancements to form new intellectual property, know how and market credibility.

As a result of the achievement of those enhancements and intellectual property development to
EnviroMission Solar Tower technology, as it was licensed to EnviroMission from SolarMission
Technologies Inc, and in light of failed renewable energy incentives in Australia that would be
capable of supporting a large-scale solar powered power station infrastructure development of
the scale of a Solar Tower in Australia, EnviroMission acquired the rights to develop
EnviroMission’s Australian Solar Tower concept form SolarMission Technologies via a securities
transfer that placed the global development rights to EnviroMission’s Australian Solar Tower
concept with EnviroMission Limited.

This action, completed in 2008, provided EnviroMission the opportunity to market EnviroMission’s
Australian Solar Tower technology outside Australia, and subsequently resulted in EnviroMission
moving rapidly forward to build on the advanced, but deferred development proposal in Australia,
to the current phase of delivery of EnviroMission’s Australian Solar Tower concept in the United
States.

(Despite holding Major Project Facilitation Status form the Australian Federal Government and
State Significant Development status form the New South Wales Government (domicile State of
the first Australian Solar Tower development project). the renewable energy incentive landscape
was inadequate to support the demands of the capital market for a subsidized investment of the
required scale in Australia.)

Reorganization of the corporate structure and technology ownership has since been shown to
have been a prudent and timely strategy as no incentive programme capable of attracting
investment to a large-scale renewable energy infrastructure development (specifically solar) have
to this point not materialized in Australia - in contrast, incentives, political will, and an investment
appetite for renewable energy development in the United States has provided a positive market
environment for EnviroMission to deliver Solar Tower power station development into.

EnviroMission has already achieved a landmark Power Purchase Agreement with the Southern
California Public Power Authority (SCPPA) following robust due diligence by SCPPA and
achieved the necessary collaborations of prominent US businesses to deliver on that PPA – a
PPA that also references an option for SCPPA to purchase the first of two Solar Towers to be
delivered in La Paz County, Arizona.

A recent (December) round of briefings attended by EnviroMission CEO and Chairman, Roger
Davey, in Phoenix Arizona with the La Paz Solar Tower Project Team received reports from:
Hensel Phelps; Faithful + Gould; Terracon; Ritoch - Powell & Associates; AON; Quarles & Brady;
and, Cemex.

Meetings were held with SCPPA and a briefing was provided to the La Paz County boar of
supervisors.

The development reports indicated the achievement of milestones necessary to support the terms
of the SCPPA PPA for the La Paz Solar Tower development to be on line Q1 2015

Details of development capital and project finance negotiations for the first EnviroMission Solar
Tower to be built in the La Paz County in Arizona are expected to be able to be made to the
market early in 2012.

Based on the progress of Solar Tower development in Arizona reported to shareholders at the
2011 AGM (2011 Chairman’s address), shareholders enquired about the likelihood of resuming
development in Australia.

The short answer to that question was, as it has consistently been, EnviroMission remains
development ready in the event incentives become available in Australia capable of attracting
investment capital to an energy infrastructure development of the size of a 200MW Solar Tower
proposal.

The more comprehensive answer that was not able to be provided as it was awaiting
EnviroMission board ratification, planned to occur following the AGM (now ratified), is that
EnviroMission now intends to commence a development strategy in Australia, (Western Australia
and South Australia in the first instance) that will specifically engage the mining sector in those
states to explore the role EnviroMission’s Solar Tower technology could have to meet
sustainability and carbon reduction/abatement targets and energy generation requirements for
that industry.

EnviroMission takes the view the progress of the La Paz development will inform development
feasibility and capability in the event incentives can be obtained from Federal and State
governments, and on that basis EnviroMission intends to resume discussions with the Federal
Government and State Governments of Western Australia and South Australia to consider the
necessary incentives to support large-scale grid connected solar power generation in Australia.

EnviroMission’s Australian Solar Tower intellectual property was independently valued at AUD$60M
(January 2011) on the basis of the value of EnviroMission’s enhancements that have enabled
EnviroMission to achieve a commercial PPA with SCPPA.

In 2012 EnviroMission will commence an active commercialization of its technology in other markets and
if commercially appropriate also in Australia either through partnership, joint venture or the assignment of
development rights.
Ends.