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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 1

ACCESS ENERGY U.S.A.


“Advanced Clean-Coal Energy & Synfuel Security™”
A Bold New Approach for Enhancing
Strategic Access to America’s Abundant Coal Assets
For the Benefit of Energy Sustainability, National Defense,
Environmental Integrity, and Economic Advancement and Stability

T here is growing support—widespread and multi-constituent in nature—for a comprehensive,


environmentally-friendly energy/security initiative to leverage the immediate and long-term value of
coal, one of America’s most prized and virtually inexhaustible natural assets. The vanguard initiative at the
forefront of future energy planning and development in the United States and abroad is the well-proven
conversion technology of “gasification,” including IGCC, or Integrated Gasification Combined Cycle. This
process, together with the associated down-line Fischer-Tropsch Technology, is a highly efficient
methodology for converting carbon-based feedstocks into diverse, high-demand products—including electric
power, synthetic natural gas, clean diesel fuels, hydrogen, and chemicals—with emissions factors far lower
and more easily controlled than with conventional coal-fired energy plants.

CRITICAL NEEDS—At the heart of this unfolding development are three urgent national needs:

1. Energy Sustainability—The need to accommodate in systematic and reliable ways America’s critical
demand for augmented power (electricity as well as fuel), using sourcing strategies that are flexible,
sustainable, and dependable;

2. National Defense—The need to guarantee and enhance America’s self-sufficiency with respect to those
materials and production capabilities that are essential to empower our economy, increase our national
security in the face of multi-faceted terror threats, and maintain our hegemony as a world power;

3. Environmental Integrity—The need to incorporate into all aspects of our national energy-production
enterprise the advanced technological systems that will certify and affirm the protection of our environment
and help to mitigate the impact of global warming.

AN OPPORTUNITY AND A PROMISE ANCHORED IN AMERICA’S STRENGTHS

At the juncture of these three daunting challenges is an opportunity of rare scope and promise for America,
given our superiority and advantage with respect to three elements of critical importance in any emerging
strategy:

1. Natural Assets—Whereas America has only 2% of the world’s oil reserves and only 3% of the world’s
natural gas reserves, we have fully 25% of the coal reserves—greater than those of any other country;

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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 2

2. Technology—The scientific and engineering breakthroughs now flowing from America’s community of
thinkers and practitioners in the field of energy production offer encouraging options for improved efficiency
and innovation for both existing as well as future plants. Case in point: gasification, including IGCC
(Integrated Gasification Combined Cycle) and improved Fischer-Tropsch Technology;

3. Synergy—Already in place is a multiplicity of future-search cooperative ventures involving key energy


stakeholders: energy companies, financial institutions, investors, scientists, academic institutions,
environmentalists, and governmental offices and agencies—all focused in interdependent and collaborative
ways on finding optimum strategic solutions to America’s energy challenges.

CURRENT STATE OF AFFAIRS—The following figure summarizes the current situation:

Solving America’s Energy Challenges


Challenge 1
Energy
Sustainability

Deriving from Key National Strengths

Strategic
Opportunity
Deriving from Key
National Strengths
1. Vast Coal Resources
2. Superior Technology
3. Culture of Synergy

Challenge 2 Challenge 3
National Environmental
Defense Integrity

CHALLENGES AND SOLUTIONS—These three crucial energy challenges can be addressed effectively
through a coordinated national initiative targeting the timely deployment of a network of innovative energy
plants based on gasification, especially IGCC—Integrated Gasification Combined Cycle, together with
associated down-line procedures such as Fischer-Tropsch Technology for the production of synthetic crude
and clean diesel. The following sections outline succinctly the role that this advanced clean-coal technology
can play in resolving collectively the referenced energy challenges and confirming that coal is truly
America’s diamond in the rough. In fact, coal is America’s safety vault of stored energy that can supply
our economy with the bulk of its vital energy and electricity needs for centuries to come.

WHAT IS GASIFICATION?

The technology behind Gasification is well-proven scientifically, having been in practice in various forms for
over 100 years. Here are the basic elements:
• Conversion—Carbon-based feedstocks are subjected at high temperature and pressure—using less than
half the amount of oxygen required for total combustion—and converted under these reducing conditions

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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 3

into a clean synthesis gas (syngas) consisting of hydrogen and carbon monoxide (CO). Gasification can
convert a wide variety of feedstocks including biomass, municipal solid waste, biosolids, petroleum coke,
tar sands, and, of course, coal.
• Purification—The syngas is then cooled and cleaned of particulates, sulfur, mercury, and other
contaminants using advanced technologies consistent with those applied in oil refining and natural gas
purification.
• Diversity of Output Gasification is the only
advanced energy-generation technology with the
capability of concomitant production of a diverse
variety of high-value commodity products,
including gaseous fuels (such as synthetic natural
gas—SNG—and hydrogen for fuel cells and
other applications in refineries and chemical
plants), liquid fuels (such as synthetic crude,
methanol, and sulfur-free diesel), Carbon
Dioxide for enhanced oil recovery or other uses,
and chemicals (such as ammonia for fertilizer
production, methanol, dimethyl ether, and higher
alcohols). Thus the gasification process is the
only technology that offers a duality of
advantages: upstream (feedstock flexibility) as
well as downstream (product flexibility). This
feature is critically important in the context of the
From Integrated Gasification Combined Cycle—IGCC: Clean, Affordable Energy for need for enhancing energy security and
Tomorrow’s World. U.S. Department of Energy, Office of Fossil Energy, Federal Energy
Technology Center, July 1999, p. 3. environmental protection.

GASIFICATION DETAILS—Let’s look in detail at the process for gasification-related power generation
and the production of gaseous and liquid fuels:
• Gaseous Fuels—Raw syngas can be methanated to produce SNG (synthetic natural gas), which can be
marketed and consumed exactly like conventional natural gas. Given America’s rising dependence on
imported natural gas (a trend that is parallel to the burgeoning scope of our oil imports), cost-effective
strategies for producing domestic SNG in significant quantities will work toward enhancing national
security and energy independence. SNG as an extension of the gasification process can thus be produced
from America’s vast coal reserves and other low-cost and waste feedstocks. Moreover, raw syngas from
the gasification process can be cleaned further to produce pure hydrogen—laying the groundwork for the
coming Hydrogen Economy.
• Power Generation—These gaseous fuels can be used to generate power in either combustion or non-
combustion modes (fuel cells). According to Robert S. Kripowicz, Principal Deputy Assistant Secretary
Fossil Energy, U.S. Department of Energy: “Integrated Gasification Combined Cycle plants are the
powerplants of the next millennium.” Understanding the essence of the IGCC process for coal—which
was first operationally tested in California in the mid-1980s—confirms why this will very likely be the
case. It works as follows: Syngas is combusted in a high-efficiency gas turbine power generator.
Simultaneously, the heat from the turbine exhaust gas is extracted to produce steam to drive a parallel
steam turbine power generator. This combination of dual power-generating cycles is called “combined
cycle.” IGCC therefore blends gasification, gas cleaning, synthesis gas conversion, and power-generation
technology into a unified procedure to produce clean and affordable energy that offers the advantages of
ultra-low pollution levels, high efficiency, and flexibility of feedstocks (coal, biomass, petroleum coke,
industrial wastes, municipal solid wastes, sludge, and other low-cost or no-cost base materials)—with the
promise of extending the current 40 percent level of IGCC units to as high as 50 and even 60 percent

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(compared with 35 percent for convention coal-fired power generation). This syngas output can also be in
the form of high-purity Hydrogen, once more contributing to the emerging Hydrogen Economy.
• Liquid Fuels—Raw syngas can be refined further into liquid fuels via the Fischer-Tropsch Gas-to-
Liquids (FTGTL) process. Synthetic crude and diesel produced in this way are cleaner than fuels made
from petroleum. The production of such synfuels as an extension of the gasification process can help to
leverage America’s abundant coal reserves and make use of other low-cost and even negative-cost waste
feedstocks as part of a strategy to enhance national security and lessen our dependence on foreign imports.
• Carbon Capture—In addition to greatly reducing regulated emissions in a cost-effective manner, pre-
combustion decarbonization is the best technology to produce CO2 in a form readily captured and either
used for economic benefit and/or sequestered. Such CO2 streams, for example, can be deployed in
Enhanced Oil Recovery to increase the productivity of applicable oil fields, thus working to improve our
energy security and lessen our dependence on foreign oil.

A NOTE ABOUT THE FISCHER-TROPSCH PROCESS

As an extension of the gasification sequence, Fischer-Tropsch Technology (FT) converts syngas (from coal,
natural gas, or low-value refinery or waste products) into a high-value, clean-burning synthetic crude or
diesel. Such synfuel is virtually free of sulfur and aromatics and more readily reformable as pure hydrogen
than conventional gasoline or diesel. Moreover, it is virtually interchangeable with conventional diesel fuels
and can also be blended with diesel in any desired ratio with minimal or no modification. Compared with
conventional diesel, Fischer-Tropsch fuels offer important emissions benefits, including reduced nitrogen
oxide, carbon monoxide, and particulates. In the FT process itself, syngas (a mixture of hydrogen and carbon
monoxide) is reacted in the presence of an iron or cobalt catalyst, generating a mixture of linear paraffinic
and olefinic hydrocarbons that are converted (through mild hydrotreating and hydrocracking) to the final
products such as methane, alcohols, and synthetic crude or diesel—with water or carbon dioxide produced as
a byproduct. The temperature, pressure, and catalyst used determine whether a light or heavy syncrude is
produced. The FT technology is highly exothermic, and the heat energy produced can be used efficiently to
support the reaction process and the plant operation itself. The FT reaction was discovered by German coal
researchers F. Fischer and H. Tropsch in 1923, and was used by Germany during World War II to produce
high-quality fuel.

SUMMARY OF THE ACCESS ENERGY U.S.A.™ TECHNOLOGY SEQUENCE

The following chart provides a simplified overview of the technology sequence involved in the “Advanced
Clean-Coal Energy & Synfuel Security” program:

ACCESS ENERGY U.S.A.: “ADVANCED CLEAN-COAL ENERGY & SYNFUEL SECURITY”™


Value-Added By-Product Fischer- Refinement Syncrude & Pipeline
Products Recovery Tropsch Process syndiesel distribution

COAL Hydrogen Fuel Cells Electric Cars &


America’s Meeting
Separation Power Appliances America’s
most
abundant Production Cleaning Energy
Gasification of syngas process to Combustion Needs
energy asset Process (hydrogen remove of syngas
and CO) pollutants
Diversity of Combustion Generator Electric Power line Energy
Combined Cycle

other low Turbine Power distribution Sustainability


cost or no- Biomass,
cost carbon- petroleum Steam Steam Generator Electric Power line National
based coke, TurbineTurbine Power distribution Defense
feedstocks Carbon
industrial & Capture
municipal CO2 Enhanced Conventional Pipeline Environmental
Fuels Distribution Integrity
wastes Production Oil Recovery

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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 5

CRUCIAL QUESTION—How does the gasification sequence contribute to the resolution of the three
energy challenges listed above? Here are the essential facts and implications:

1. GASIFICTION AND ENERGY SUSTAINABILITY

Key Facts: America’s strong suit in the global energy arena is


coal. Currently, coal-based power generation produces some
52% of the nation’s electricity (with nuclear and natural gas at
around one-fifth each and the balance from hydro and other
renewable sources). Fully 86% of the nation’s coal production
goes to generate electricity. Under the current volume of
usage, we have enough coal to last some 258 years (with
some 250-275 billion tons of proven reserves—about 25% of
the world’s reserves). By comparison, our reserves of natural
gas would last only 9.5 years and oil 11.3 years, according to
facts cited by the National Commission on Energy Policy
(December, 2004).

Implications: The gasification sequence (including


From Ending the Energy Stalemate: A Bipartisan Strategy to Meet
America’s Energy Challenges. The National Commission On Energy
IGCC) figures prominently in any equation to resolve
Policy, December 2004, p. 70 the nation’s future energy needs. The U.S. Department
of Energy projects a 45% increase in the demand for
electricity from all sources over the next two decades.
Currently the U.S. has around 300 GW of coal-fired
power generation capacity. Forward-reaching studies
estimate that the U.S. will need to add nearly 90 GW of
new coal-fired capacity by 2025, the major portion of
which (as much as 62%) will come from advanced clean
coal technologies such as IGCC. The West Coast alone
will have a demand for 69 GW of power 25 years from
now. (It is instructive, in this context, that MidAmerican
Energy—controlled by billionaire Warren Buffett
From Annual Energy Outlook 2005-2025. Department of Energy/Energy
Information Administration, p. 6.
through his investment company, Berkshire Hathaway—
has agreed to buy PacifiCorp for $5.1 billion, plus the
assumption of $4.3 billion in debt.) With the volatility and unpredictability of natural gas supplies
(used in the generation of around a fifth of the nation’s electricity) the stability and dependability of
coal will become an ever more important factor in the nation’s energy strategy. This is particularly
true in the face of the perilous rise in oil prices in recent times. Clearly coal is the most precious
commodity in America’s energy arena: inexpensive, clean, reliable, and domestic.

2. GASIFICATION AND NATIONAL DEFENSE

Key Facts: President George W. Bush signed a sweeping new bi-partisan energy bill on Monday, August 8,
2005, at Sandia National Laboratories in Albuquerque. “It means less dependence on foreign oil,” he is
reported to have said. The reason for concern is manifest: America currently consumes some 99 quadrillion
Btus of energy each year. We produce around 72 quadrillion Btus of this amount (73%). As part of that
equation, we consume fully 25% of the world’s petroleum. Well over half of the petroleum we use is

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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 6

imported—54% of the 19.6 million barrels we used daily in 2002, projected to reach as high as 70% by 2025
if current trends persist. There is urgent need for a change in course.

Implications: Any increase in foreign energy dependence brings with it a concomitant decrease in national
security. It is essential to increase America’s domestic energy supplies. It is essential to augment and protect
America’s energy delivery system. The security of U.S. national energy depends on having energy supplies
adequate to support the economic growth of the nation and, by extension, global economic growth. National
energy security begins with maximizing our own capabilities of producing, processing, and delivering a
diverse mix of domestic energy resources to meet our demands—and by doing so in an efficient and
environmentally-friendly manner. In the context of national security, clean coal technology offers great
promise for advancing national as well as global goals for economic progress, environmental integrity, and
energy security. Coal is among the most potent of our national defense assets.

3. GASIFICATION AND ENVIRONMENTAL INTEGRITY

Key Facts: In the year 2000, worldwide annual energy carbon emissions amounted to 6.3 billion metric tons,
some 24% coming from the U.S. (the largest emitter). Around one-third of U.S. carbon emissions come from
power plants. One-third of global emissions come from coal combustion. It is not surprising that the federal
government has promulgated proposals such as the Clear Skies Initiative for power plant emissions
(February 14, 2002—caps SOx, NOx and Hg emissions), the Clean Coal Power Initiative (demonstrates
advanced coal technologies), National Climate Change Technology Initiative (June 11, 2001—reduces
emissions of the greenhouse gas, CO2), Homeland Security (to increase the security of our energy production
and delivery infrastructure), and the Integrated Sequestration and Hydrogen Research Initiative (February 27,
2003), among others. It is encouraging, in this context, that advanced technology IGCC plants can
accommodate all projected environmental regulations associated with power generation and liquid fuel
production. IGCC plants operate at higher efficiency levels than conventional counterparts and thus emit less
CO2 per unit of energy produced. The IGCC process emits sulfur dioxide and nitrogen oxides at only a
fraction of allowable levels. Furthermore, the water needed to operate an IGCC plant is less than half that
required in a conventional coal-fired plant with a flue gas-scrubbing system.

Implications: The clean-coal gasification sequence takes the stigma out of current coal-fired technology. It is
the key to providing low-cost energy for continued U.S. economic growth and furthering national goals for
protecting the environment and mitigating global climate-change concerns. IGCC features promising
environmental attributes: Sulfur is removed from syngas to a level of 98.5-99.99%; NOx emissions are
controlled through temperature modulation in the gas turbine; particulates are removed from the syngas by filters
and a water-wash process prior to combustion (making emissions negligible); Mercury is removed from the
syngas by absorption on an activated-carbon bed; CO2 is removed using less energy than convention coal-fired
systems and made available as a by-product (e.g. for Enhanced Oil Recovery) or readied for sequestration (in
depleted gas fields and oil fields, unmineable coal seams, deep saline formations, basalts, etc.).
Understandably, clean-coal technologies such as IGCC are projected to play a vital role in future energy
production, along with the associated Fischer-Tropsch process for producing synthetic crude and clean
diesel, plus the development of more efficient renewable energy sources (solar, wind, hydro, and renewable
fuels such as hydrogen, corn ethanol, etc.).

ADDITIONAL ISSUE: ECONOMIC VIABILITY—Any strategy designed to resolve these three


fundamental energy challenges must also satisfy the demands of economic exigency, i.e., power plants based
on the gasification technology must be able to operate successfully as commercial ventures in a competitive
energy marketplace. Will this be the case?

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Key Facts: The end-use price of electricity in the U.S. is greater than $230 billion dollars per year—a vast
arena in which to seek strategic cost savings. Coal offers compelling leverage in the economics of power
production. The cost for power from coal is currently around $2 per million Btu, compared with around
$7.25 per million Btu from natural gas. The associated arbitrage potential is enormous. With advanced IGCC
technology, increased efficiencies are projected to generate additional savings, especially since use of a
diverse array of alternative low-cost feedstocks is possible. Furthermore, IGCC technology substantially
reduces the footprint and complexity of plants and thus works toward capital savings in new plant
construction or retrofitting older plants. Dual phase production of power in the “combined cycle” process,
plus the associated co-generation of valuable by-products (hydrogen, plus environmentally superior
transportation fuels and chemicals), further mitigate the cost burdens associated with the power generation.
Moreover, IGCC technology offers distinct advantages with respect to the secondary costs of distribution:
With gasification, the conversion technology can be set up on site and the gaseous fuels produced can then be
transported economically by pipeline—with fewer environmental concerns than with major over-ground
transmission lines. In addition, the IGCC decarbonization process yields CO2 in a more concentrated form
than conventional coal-fired plants, making it easier to capture and sequester CO2 or deploy it in the
Enhanced Oil Recovery arena, thus reducing the costs associated with emissions control and other pollutants.

In this context, a further word about the Hydrogen Economy is pertinent: The role of hydrogen is already
huge in the nation’s economy—as in the production of hydrogen from natural gas for use in refining and
foodstuffs. However, there is not yet a wide-spread perception among the populace in general of the
enormous potential of hydrogen to contribute to our energy needs as they relate to cars and home heating. It
is critical for us to understand and advocate the powerful linkage between coal and hydrogen. The sequence
of coal to IGCC to syngas to hydrogen will play an increasingly potent role in solving the nation’s energy
challenges in real and practical ways.

Implications: Clearly the gasification system associated with clean-coal technology offers persuasive
economic advantages, including low-cost feedstocks, high efficiency in the use of national resources,
economically efficient control of environmental
pollutants, co-generation of valuable products, significant
capital savings in plant construction, and enhanced
technology exports (far beyond the current level of $30-
$35 billion per year in a global energy technology market
of $400 billion per year). The projected cumulative
benefits of clean coal deployments to 2020 amount to
approximately $100 billion dollars. This represents nearly
a 10-fold return on a projected investment of
approximately $11 billion in government/industry
cooperative ventures. In addition, there could well be a
benefit of $500 billion to $1 trillion through the year 2050
on the basis of lower electricity costs associated with
advanced coal-related power generation. Because of this
economic environment, innovative energy firms that
produce a diversity of energy products (steam, chemicals,
and fuels)—as contrasted with the single-purpose, single-
technology powerplants of today and yesterday—will
From Clean Coal Technology Roadmap: “CURC/EPRI/DOE Consensus
Roadmap”—Background Information. NETL, n.d., p. 24.
inevitably capture an increasing volume of electricity
sales in a period of deregulation. In a competitive energy
market of this type, systems such as IGCC and the down-line Fischer-Tropsch technology that offer the
producer opportunities for reduced market risk and enhanced revenues from an array of high-value products
are likely to prosper. IGCC and its sequential options is demonstrably the key to leverage the value of coal at

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a turning point in the nation’s economic well-being and security. The government is understandably in favor
of cooperative investments and tax incentives to further the cause of future IGCC development and
deployment.

SUMMARY AND ACTION STEPS

1. Partnership for the Future

There is already in place a growing, broad-based support for clean-coal technology initiatives, including
IGCC and the sequential Fischer-Tropsch conversion process. The comprehensive Clean Coal Technology
Roadmap of the U.S. Department of Energy was developed cooperatively by the National Energy
Technology Laboratory, the national laboratory of the DOE Office of Fossil Energy, and the coal and power
industry, specifically the Coal Utilization Research Council (CURC) and the Electric Power Research
Institute (EPRI). At work already are proceeds from past and current government grants (some $2 billion
dollars) for collaborative undertakings to develop and perfect clean coal technology. The Energy Policy Act
of 2005 provides additional revenues in support of innovative technological advances in the energy domain.
A projected combined investment of nearly $11 billion would yield some $100 billion in benefits for the
country to the year 2020 and ensure the continuing leadership of America in the global energy arena. In
addition, forward-looking governors and legislators in states with abundant coal reserves are taking steps to
facilitate the process of bringing on line clean-coal initiatives that will address the nation’s urgent energy
concerns. The question is: Can the broad-based deployment of advanced IGCC energy plants and associated
Fischer-Tropsch conversion units take place soon enough to achieve the optimum results with the maximum
favorable economic impact?

2. IGCC and the Timeline for the Future

Currently the projections in the U.S. are to have a high-efficiency, virtually zero-emissions IGCC power
plant in service as early as 2015—one that is fuel flexible, sequestration-ready, and capable of product co-
generation. The operant formula is ERD3 = energy research, development, demonstration, and early
deployment. In the opinion of many stakeholders, included Bronco Energy Fund Inc., there is a compelling
need to jumpstart this process. A ten-year term (and by some estimates as much as 20 years for a
commercially-viable plant) may well be too long for deploying operational IGCC systems. A more desirable
target range would be five to ten years maximum. What can be done to shorten the time span for successful
deployment?

3. Action Steps

There is no question that intense, focused, cooperative action is needed to unlock the value of America’s coal
in a timely, systematic manner. Few would question the IGCC advantages: higher thermal efficiency (40% to
50% or higher, compared with 35% for conventional coal techniques); the removal of sulfur, mercury, and
other contaminants before combustion (eliminating scrubbers); a diversity of feedstock options; facility in
generating valuable by-products; less input water required and less cooling water discharge generated; the
elimination of post-combustion flue gas desulfurization for reducing SOx emissions; the production of
synthetic crude and clean diesel through sequential Fischer-Tropsch technology, and efficiencies in
controlling and sequestering CO2 or deploying it for productively for Enhanced Oil Recovery.

Coal is America’s diamond in the rough. A concerted energy strategy around clean-coal technology and
IGCC is truly America’s “DEED” to the future, addressing as it does our vital concerns for Defense,
Economy, Environment, and Development. Therefore, Bronco Energy Fund recommends the immediate
facilitation of dialogue with interested and engaged governmental leaders at the state and federal levels—

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Bronco Energy Fund Initiative for a National Dialogue on Gasification and Sequential Technologies 9

plus other concerned stakeholders from industry and the scientific community—to facilitate the emergence of
strategies for accelerating the refinement and deployment of advanced gasification/FT technologies as a key
for leveraging America’s vast coal reserves in support of future energy and synfuel production. Such an
acceleration of the process would serve to resolve more expeditiously America’s three urgent energy
challenges listed earlier: energy sustainability, national defense, and environmental integrity. Bronco Energy
Fund stands ready to support and facilitate such a dialogue and use its technological and organizational
know-how to ensure progress in this critically important arena of activity of finding effective solutions to
America’s energy needs.

ABOUT BRONCO ENERGY FUND, INC.

Bronco Energy Fund, Inc., is a public Nevada corporation formed in June 1997 and restructured to
commence energy sector operations in December 2004. The company's principal offices and operations
center is in Tucson, Arizona. The Company is led by an experienced team of industry professionals and is
focused on key areas of investment in the energy sector which, in the opinion of the management team, will
provide the strongest growth for shareholders in the coming decade and beyond and contribute to strategic
solutions for America’s energy challenges. Through its subsidiaries, Bronco Energy Fund is investing in and
will invest in such industries as coal, oil and gas, clean electrical power generation and emerging
technologies such as Nano-Solar and Gas-to-Liquid (GTL). Bronco Energy Fund has already acquired two
major coal plants (in Indiana and Utah) through support from an international financial institution with long-
standing experience in the energy field, particularly IGCC. Bronco Energy Fund expects to augment its coal
acquisitions in the near future.

Bronco Energy Fund aspires to be the prototype of the emerging new genre of integrated oil and energy
company that will be crucially important for 21st century energy development and production. Bronco
Energy Fund is structured around the philosophy that only the comprehensive, multi-purpose organization
capable of integrating the interdependent roles of asset ownership, stakeholder servicing, and product
processing and delivery (for a full range of central and co-generated products)—across the entire spectrum of
operations related to clean coal technology and associated energy initiatives—will survive and prosper in the
21st century.

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SELECTED REFERENCES
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Managing Climate Change and Securing a Future for the
Advanced Combustion Technology: Coal Burner Low NOx Midwest’s Industrial Base. Midwest Regional Carbon
Upgrades, n.d. Sequestration Partnership. November 16, 2004

An Assessment of Geological Carbon Sequestration Options in NETL Annual Review Meeting. West Coast Regional Carbon
the Illinois Basin: Year One. Sequestration Partnership, n.d.

Annual Energy Outlook 2004-2025 and 2005-2025. Department Strategic Initiatives for Coal & Power. Office of Coal & Power
of Energy/Energy Information Administration Systems, U.S. Department of Energy, Coal Utilization Research
Council, Queenstown, MD, April 8, 2004
Clean Coal Technology Roadmap: “CURC/EPRI/DOE
Consensus Roadmap”—Background Information. NETL, n.d. “Strengthening Global Alliances: Enhancing National Energy
Security and International Relationships,” National Energy
Climate VISION Risk Framework for Advanced Clean Coal Policy, Chapter Eight
Plants: Risks & Challenges. Presentation to Roundtable on
Deploying Advanced Clean Coal Plants, July 29, 2004, The Color of Oil: The History, the Money and the Politics of
Washington, DC the World’s Biggest Business. China Energy, January 17, 2003

Coal & Power Systems Strategic & Multi-Year Program Plans. The Environment: A Rating Agency View of the Effect of
U.S. Department Of Energy, Office Of Fossil Energy, February Environmental Concerns Upon the Electric Power Industry.
2001 Fitch Ratings, July 29, 2004

Coal and Climate. David G. Hawkins, Natural Resources The Road to Sensible Carbon Sequestration: An Insurance
Defense Council, July 29, 2004 Policy for the Future. Southern States Energy Board, 2004
Chairman’s Forum on Carbon Management in the Southern
Cost Comparison IGCC and Advanced Coal. Roundtable on States, Coal Utilization Research Council. Washington, D.C.,
Deploying Advanced Clean Coal Plants, July 29, 2004 May 20, 2004

EERC Regional Carbon Sequestration Partnerships Annual The Road to Sensible Carbon Sequestration: Insurance Policy
Program Presentation, November 2004 for the Future. Southern States Energy Board 2004 Chairman’s
Forum on Carbon Management in the Southern States.
Energy Policy Act of 2005 Washington, D.C., May 20, 2004

Ending the Energy Stalemate: A Bipartisan Strategy to Meet The Utility Fuel Economics—National Power Model
America’s Energy Challenges. The National Commission On Forecasting System. INFORMS Annual Meeting. San Antonio,
Energy Policy, December 2004 TX, November 7, 2000

EPA & Carbon Sequestration. Regional Carbon Sequestration Tipping Point or Opportunity for Clean Coal Technologies?
Partnerships Annual Program Review Meeting. Energy and National Energy Technology Laboratory, February 10, 2004
Environmental Research Center. Pittsburgh, PA, November 16–
17, 2004 Tracking New Coal-Fired Power Plants: Coal’s Resurgence in
Electric Power Generation. NETL/DOE, December 22, 2004
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Rosenberg, July 2004. U.S. Coal Resources, Use and Technology Needs. Dept. of
Energy Facts and Plans of Coal Energy Rates and Uses, n.d.
Forecasting the Benefits of DOE Programs for Advanced
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Fossil Electricity Technology Case. USDOE Office of Fossil Mining Association Briefing with the
Energy, National Energy Technology Laboratory, Office of
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