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BIOMASS AND RENEWABLE ENERGY BRAZIL Hard Wood Chips Paper 1 Hard Wood Chips Paper Biomass Fuel Energy

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BIOMASS AND RENEWABLE ENERGY BRAZIL

Hard Wood Chips Paper

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Hard Wood Chips PaperBiomass Fuel Energy

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. TheThe CompanyCompany

BrazilBrazil BiomassBiomass andand RenewableRenewable EnergyEnergy anan societysociety ofof productionproduction,, industrializationindustrialization andand exportexport ofof WoodWood Chips,Chips, PelletsPellets andandBriquettingBriquetting andand thethe developmentdevelopment ofof projectsprojects withwith thethe useuse ofof forestforest residuesresidues forfor coco--generationgeneration ofof energyenergy associatedassociated withwith aaplantplant toto bebe installedinstalled inin SantaSanta CatarinaCatarina.. TheThe administrationadministration ofof thethe companycompany shallshall bebe heldheld andand presidedpresided CEOCEO CelsoCelso MarceloMarcelo dedeOliveiraOliveira DirectorDirector ofof InternationalInternational CMOCMO ExportsExports BiomassBiomass andand WoodWood ChipsChips andand BrazilBrazil BiomassBiomass andand RenewableRenewable EnergyEnergy SS..AA..

VISIONVISIONVISIONVISIONVISIONVISIONVISIONVISION OFOFOFOFOFOFOFOF THETHETHETHETHETHETHETHE COMPANYCOMPANYCOMPANYCOMPANYCOMPANYCOMPANYCOMPANYCOMPANY.. EnergyEnergy solutionssolutions basedbased onon biomassbiomass andand biobio--fuelsfuels cleanercleaner andand renewablerenewable forfor largelarge nationalnational andand internationalinternationalcompaniescompanies,, inin orderorder toto mitigatemitigate thethe impactimpact thatthat theirtheir activitiesactivities havehave onon thethe environmentenvironment byby reducingreducing emissionemission ofof greenhousegreenhouse gases,gases,generatinggenerating earningsearnings inin itsits financialfinancial accountaccount ofof energyenergy andand thethe salesale ofof carboncarbon creditscredits,, andand provideprovide itsits energyenergy independenceindependence notnot gettinggetting thethemercymercy ofof thethe oiloil marketmarket..

BUSINESSBUSINESSBUSINESSBUSINESSBUSINESSBUSINESSBUSINESSBUSINESS MISSIONMISSIONMISSIONMISSIONMISSIONMISSIONMISSIONMISSION........ TheThe BrazilBrazil BiomassBiomass andand RenewableRenewable EnergyEnergy missionmission isis toto productionproduction biomassbiomass woodwood chipschips andand cooperatecooperate inin thethedevelopmentdevelopment ofof projectsprojects throughthrough sustainablesustainable solutionssolutions toto wastewaste managementmanagement forfor aa renewablerenewable energyenergy andand energyenergy efficiencyefficiency byby biomassbiomass..

INTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONAL PARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIP........ InIn BrazilBrazil remainsremains anan importantimportant institutionalinstitutional partnershippartnership withwith thethe NationalNational NetworkNetwork ofof biomassbiomass inin PortugalPortugal

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INTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONALINTERNATIONAL PARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIPPARTNERSHIP........ InIn BrazilBrazil remainsremains anan importantimportant institutionalinstitutional partnershippartnership withwith thethe NationalNational NetworkNetwork ofof biomassbiomass inin PortugalPortugal

withwith thethe PortuguesePortuguese SocietySociety ofof EnergyEnergy,, withwith EUBIAEUBIA inin EuropeEurope andand thethe UnitedUnited StatesStates withwith AmericanAmerican RenewableRenewable EnergyEnergy.. WeWe maintainmaintain aa

technicaltechnical exchangeexchange withwith thethe RenewableRenewable EnergyEnergy andand EnergyEnergy EfficiencyEfficiency PartnershipPartnership ** AcceleratingAccelerating thethe DeploymentDeployment ofof RenewableRenewable EnergyEnergy

TechnologiesTechnologies:: RegionalRegional ReportReport fromfrom thethe RenewableRenewable EnergyEnergy andand EnergyEnergy EfficiencyEfficiency PartnershipPartnership ** TheThe WorldWorld BankBank GroupGroup -- AcceleratingAccelerating CleanClean

EnergyEnergy TechnologyTechnology InnovationInnovation PelletPellet FuelsFuels InstituteInstitute ** ** BiomassBiomass HeatingHeating FuelsFuels :: LowLow HangingHanging FruitFruit forfor CarbonCarbon EmissionsEmissions andand EnergyEnergy

IndependenceIndependence ** RenewableRenewable EnergyEnergy:: ElectricityElectricity andand BiofuelsBiofuels inin LatinLatin AmericaAmerica andand thethe CaribbeanCaribbean ** NaturalNatural ResourcesResources CanadaCanada -- AnAn OverviewOverview

ofof RenewableRenewable EnergyEnergy IndustryIndustry Canada'sCanada's NationalNational RenewableRenewable EnergyEnergy LaboratoryLaboratory ** InternationalInternational RenewableRenewable EnergyEnergy AllianceAlliance InternationalInternational

EnergyEnergy AgencyAgency InnovativeInnovative ApproachesApproaches toto thethe RenewableRenewable ElectricityElectricity SystemSystem IntegrationIntegration ofof GlobalGlobal BioenergyBioenergy PartnershipPartnership ** GermanGerman

RenewableRenewable EnergyEnergy FederationFederation EuropeanEuropean RenewableRenewable EnergyEnergy CouncilCouncil -- RenewableRenewable energyenergy policypolicy inin EuropeEurope -- 2020%% byby 20202020 ** NewNew EnergyEnergy

FutureFuture CoalitionCoalition AlliancesAlliances forfor aa NewNew EnergyEnergy FutureFuture ** BusinessBusiness CouncilCouncil forfor SustainableSustainable EnergyEnergy -- IndustryIndustry PerspectivesPerspectives onon HowHow thethe CarbonCarbon

MarketMarket CanCan PromotePromote DeploymentDeployment ofof CleanClean EnergyEnergy TechnologiesTechnologies..

Brazil Biomass and Renewable Energy Brazil Biomass and Renewable Energy 570, Candido Hartmann, 24 570, Candido Hartmann, 24 –– 243 Champagnat Curitiba243 Champagnat Curitiba ParanáParaná Phone 55 41 33352284Phone 55 41 33352284

55 41 88630864 Skype55 41 88630864 Skype celso.marcelo.de.oliveira celso.marcelo.de.oliveira –– ee--mail [email protected] [email protected]:http://www.internationalrenewablesenergy.comURL:http://www.internationalrenewablesenergy.com

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Board of DirectorsBoard of Directors

BRASILBRASILBRASILBRASILBRASILBRASILBRASILBRASIL BIOMASSBIOMASSBIOMASSBIOMASSBIOMASSBIOMASSBIOMASSBIOMASS ANDANDANDANDANDANDANDAND RENEWABLERENEWABLERENEWABLERENEWABLERENEWABLERENEWABLERENEWABLERENEWABLE ENERGYENERGYENERGYENERGYENERGYENERGYENERGYENERGY

PresidentPresidentPresidentPresidentPresidentPresidentPresidentPresident CEOCEOCEOCEOCEOCEOCEOCEO DrDrDrDrDrDrDrDr........ CelsoCelso MarceloMarcelo dede OliveiraOliveira

DraDraDraDraDraDraDraDra........ MariaMaria DeniseDenise MartinsMartins dede OliveiraOliveira

INTERNATIONAL CMO EXPORTS BIOMASS AND WOOD CHIPSINTERNATIONAL CMO EXPORTS BIOMASS AND WOOD CHIPS

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

BINTEX TRADING LTDABINTEX TRADING LTDA

PIER TRADING LTDAPIER TRADING LTDA

BMLOG LOGISTICA INTERNACIONAL LTDABMLOG LOGISTICA INTERNACIONAL LTDA

HDO ARMAZENS GERAIS LTDAHDO ARMAZENS GERAIS LTDA

GPORT DESPACHOS ADUANEIROS LTDAGPORT DESPACHOS ADUANEIROS LTDA

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MADEIREIRA RESCAROLLI LTDAMADEIREIRA RESCAROLLI LTDA

MADEIREIRA LUDGERO LTDAMADEIREIRA LUDGERO LTDA

INDUSTRIA DE COMPENSADOS SUDATI LTDAINDUSTRIA DE COMPENSADOS SUDATI LTDA

INDUSTRIA DE COMPENSADOS GUARARAPES LTDAINDUSTRIA DE COMPENSADOS GUARARAPES LTDA

ARACRUZ INDUSTRIA DA MADEIRA S. A. ARACRUZ INDUSTRIA DA MADEIRA S. A.

FUMIDEX E DEDETIZAÇÃO LTDAFUMIDEX E DEDETIZAÇÃO LTDA

TOMAZ EMPREENDIMENTOS LTDATOMAZ EMPREENDIMENTOS LTDA

Brazil Biomass and Renewable EnergyBrazil Biomass and Renewable Energy570, Candido Hartmann, 24 570, Candido Hartmann, 24 -- 243243

Champagnat CuritibaChampagnat Curitiba ParanáParaná Phone 55 41 33352284Phone 55 41 3335228455 41 88630864 Skype55 41 88630864 Skype celso.marcelo.de.oliveiracelso.marcelo.de.oliveira

URL:http://www.internationalrenewablesenergy.comURL:http://www.internationalrenewablesenergy.comEE--mail Brasil: [email protected] Brasil: [email protected]

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. BrazilianBrazilian AssociationAssociation IndustryIndustry BiomassBiomass

A group of leading biomass companies in Brazil formed the Brazilian Association of Industry Biomass and Renewable Energy or Biomass ThermalEnergy Council dedicated to advancing the use of biomass for heat and other thermal energy applications. The founding members of ABIB includebiomass fuel producers, appliance manufacturers and distributors, and supply chain companies that represent the breadth of interests in the fastgrowing biomass thermal energy industry.

Most of the woody biomass-to-energy plants Brazil Biomass use direct-fired system or conventional steam boiler, whereby biomass feedstock isdirectly burned to produce steam leading to generation of electricity. In a direct-fired system, biomass is fed from the bottom of the boiler and airis supplied at the base. Hot combustion gases are passed through a heat exchanger in which water is boiled to create steam.

The administration of the company shall be held CEO Celso Marcelo de Oliveira Managing Director of International CMO Exports Biomass andWood Chips and Brazil Biomass and Renewable Energy S.A and President Brazilian Association of Industry Biomass and Renewable Energy.

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Briquette Briquette PinusPinus: 26 Industry Brazil : 26 Industry Brazil -- Production Year : 200.000 ton.Production Year : 200.000 ton.

Briquette Eucalyptus:10 Industry BrazilBriquette Eucalyptus:10 Industry Brazil--Product. Year:80.000 ton.Product. Year:80.000 ton.

Briquette Briquette BagasseBagasse Cane:04 Industry BrazilCane:04 Industry Brazil--Prod. Year: 36.000 ton.Prod. Year: 36.000 ton.

AgroAgro--Briquette: 02 Industry Brazil Briquette: 02 Industry Brazil -- Production Year : 80.000 ton.Production Year : 80.000 ton.

Pellets Eucalyptus:03 Industry Brazil Pellets Eucalyptus:03 Industry Brazil --Production Year:60.000 ton.Production Year:60.000 ton.

Pellets Pellets PinusPinus : 16 Industry Brazil : 16 Industry Brazil -- Production Year : 130.000 ton.Production Year : 130.000 ton.

Pellets Pellets BracatingaBracatinga :01 Industry Brazil:01 Industry Brazil--Production Year:48.000 ton. Production Year:48.000 ton.

Pellets Pellets BagasseBagasse Cane :01 Industry BrazilCane :01 Industry Brazil--Prod. Year:24.000 ton.Prod. Year:24.000 ton.

Wood Chips Eucalyptus: Brazil BiomassWood Chips Eucalyptus: Brazil Biomass--Prod. Year: 400.000 ton.Prod. Year: 400.000 ton.

Wood Chips Eucalyptus:28 Industry BrazilWood Chips Eucalyptus:28 Industry Brazil--Prod. Year:1.000.000 tProd. Year:1.000.000 t

Wood Chips Eucalyptus Energy:19 Industry Prod. Year:900.000 t Wood Chips Eucalyptus Energy:19 Industry Prod. Year:900.000 t

Wood Chips Wood Chips AcáciaAcácia: 02 Industry Brazil: 02 Industry Brazil--Prod. Year: 600.000 ton.Prod. Year: 600.000 ton.

Wood Chips Wood Chips PinusPinus: 96 Industry Brazil : 96 Industry Brazil -- Prod. Year: 4.000.000 ton.Prod. Year: 4.000.000 ton.

Wood Chips Energy: 145 Industry Brazil Wood Chips Energy: 145 Industry Brazil -- Prod. Year:4.000.000Prod. Year:4.000.000

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. BiomassBiomass Wood ChipsWood Chips

WoodWood chipschips andand otherother lowlow--gradegrade woodwood wasteswastes areare thethe majormajor typetype ofof biomassbiomass fuelfuel.. OtherOther commoncommon biomassbiomass fuelfuel sourcessourcesareare agriculturalagricultural.. WoodWood--chipschips areare cutcut accordingaccording toto thethe sizessizes orderedordered byby thethe buyersbuyers andand theythey areare dishydrateddishydrated throughthrough..WoodWood residuesresidues fromfrom pulppulp andand paperpaper manufacturing,manufacturing, lumberlumber mills,mills, andand otherother industrialindustrial woodwood usersusers areare frequentlyfrequently usedusedforfor producingproducing biomassbiomass electricityelectricity.. HundredsHundreds ofof biomassbiomass fuelfuel systemssystems areare currentlycurrently atat workwork inin differentdifferent partsparts heatingheatingschools,schools, governmentgovernment complexes,complexes, andand entireentire citycity downtowns,downtowns, asas wellwell asas producingproducing renewablerenewable electricityelectricity..BiomassBiomass isis aa renewablerenewable fuelfuel thatthat cancan bebe sustainablysustainably producedproduced.. BiomassBiomass fuelfuel isis aa locallocal productproduct.. InIn contrastcontrast toto coalcoal ororpetroleumpetroleum--basedbased fuel,fuel, biomassbiomass isis growngrown andand harvestedharvested onon locallocal andand regionalregional forestsforests andand farmsfarms.. EnergyEnergy dollarsdollars spentspent ononbiomassbiomass fuelfuel staystay inin thethe regionalregional economy,economy, creatingcreating jobsjobs andand supportingsupporting forestryforestry andand agricultureagriculture.. BiomassBiomass fuelfuel pricespricesareare generallygenerally lowerlower andand moremore stablestable..WoodWood ChipChip isis readilyreadily availableavailable andand cheapercheaper thanthan mainsmains gasgas andand oiloil.. WoodWood ChipChip isis aa renewablerenewable energyenergy sourcesource.. WoodWood ChipChipcombustioncombustion isis carboncarbon neutralneutral.. WoodWood FuelFuel heatingheating systemssystems cancan bebe fullyfully automatedautomated.. WoodWood FuelFuel heatingheating systemssystems convertconvert9090%% ofof thethe fuelfuel intointo usableusable heatheat energyenergy.. TheThe SouthSouth hashas thethe mostmost densedense woodlandwoodland inin BrazilBrazil.. 7575%% ofof allall woodlandwoodland inin thetheSouthSouth BrazilBrazil isis privatelyprivately ownedowned whichwhich couldcould leadlead toto alternativealternative revenuerevenue sourcessources..

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SouthSouth BrazilBrazil isis privatelyprivately ownedowned whichwhich couldcould leadlead toto alternativealternative revenuerevenue sourcessources..

ThisThis producesproduces aa fuelfuel whichwhich cancan bebe burntburnt efficiently,efficiently, isis notnot tootoodustydusty andand storesstores withoutwithout excessiveexcessive selfself--heatingheating oror lossloss ofof drydrymattermatter..

TheThe advantagesadvantages ofof woodwood chipchip areare::•• itit isis cheap,cheap, oftenoften asas cheapcheap asas logslogs andand nownow cheapercheaper thanthanmainsmains gasgas;;•• itit isis aa standardisedstandardised productproduct withwith EuropeEurope widewide qualityqualitystandardsstandards inin placeplace;;•• fullyfully automated,automated, highlyhighly efficientefficient boilerboiler systemssystems areare availableavailable;;•• itit cancan bebe mademade fromfrom aa widewide rangerange ofof rawraw materials,materials, oftenoftensourcedsourced locallylocally..

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

HARD WOOD CHIPS PAPER HARD WOOD CHIPS PAPER

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EUCALYPTUSEUCALYPTUS

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Hard Wood Hard Wood Chips EucalyptusChips Eucalyptus

Hard wood Wood ChipsHard wood Wood Chips Eucalyptus Paper BrazilEucalyptus Paper Brazil

Wood Species Wood Species Wood Species Wood Species Eucalyptus Saligna and Grandis - Pinus

Place of OriginPlace of OriginPlace of OriginPlace of Origin Brazil

CertificationCertificationCertificationCertification SGS International and Alex Stewart

Calorific PowerCalorific PowerCalorific PowerCalorific Power 4.927 Kcal/Kg

Dimensions of Wood Dimensions of Wood Dimensions of Wood Dimensions of Wood ChipsChipsChipsChips

28.6mm - (Oversize) not more than 5.0 % - 4.8mm - 28.6mm, not less than 91.0 % - 9.5mm - 22.2mm, not less than 55.0 % - 4.8mm (Dust), not more than 4.0

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Dimensions of Wood Dimensions of Wood Dimensions of Wood Dimensions of Wood ChipsChipsChipsChips

Size Distribution: 28.6mm~(over size) Not more than 5%4.8mm~28.6mm Not less than 90% - 9.5mm~22.2mm Not less than 55%4.8mm~(under size) Not more than 5%

Energy OutputEnergy OutputEnergy OutputEnergy Output Wet Basis 2,324 to 3,726 MWh/Ton - Dry Basis 5,229 to 5,811 MWh/Ton

Chemical CompositionChemical CompositionChemical CompositionChemical Composition Oxygen Approx. 47% - Hydrogen Approx. 5,8% - Nitrogen Approx. 0,3% - Sulphur Less 0,003% - Chlorine Less than 0,1% - Carbon. 52%

ExtractivesExtractivesExtractivesExtractives Approx. 11,0% PH Approx. 5,7%

LigninLigninLigninLignin Approx. 25,8% Polvoses Approx. 16,3%

CelluloseCelluloseCelluloseCellulose 86,4% Pulping de Kraft

VolatilesVolatilesVolatilesVolatiles Approx. 13% Volatile Matter 70.55% % to 84.96%

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Fixed CarbonFixed CarbonFixed CarbonFixed Carbon 12.06% to 14.52%

Ash content Ash content Ash content Ash content 0,35% Sand Maximum 0,1%

BarkBarkBarkBark More than 1.0 – 3.0 %

Moisture ContentMoisture ContentMoisture ContentMoisture Content 12/18% max

Max. Chip SizeMax. Chip SizeMax. Chip SizeMax. Chip Size No more than 5% shall be 4 inches or larger in any dimension

Specifications Specifications Specifications Specifications for wood for wood for wood for wood chipschipschipschips

The fuel specifications and classes for all solid biofuels are set out in CEN/TS 14961:2005, which defines certain parameters and property classes.. Fuel quality is set out in IS CEN TS 14961:2005 Solid Biofuels – Fuel Specifications and Classes.

Hard Wood Hard Wood Chips EucalyptusChips Eucalyptus

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14961:2005 Solid Biofuels – Fuel Specifications and Classes.

Production Quantity Production Quantity Production Quantity Production Quantity 30,000 MT/Month and 360,000 MT/Year with possible to 500,000 MT/Month South Brazil

TheTheTheTheTheTheTheThe PremiumPremiumPremiumPremiumPremiumPremiumPremiumPremium WoodWoodWoodWoodWoodWoodWoodWood ChipsChipsChipsChipsChipsChipsChipsChips BrazilBrazilBrazilBrazilBrazilBrazilBrazilBrazil isisisisisisisis producedproducedproducedproducedproducedproducedproducedproduced withinwithinwithinwithinwithinwithinwithinwithin thethethethethethethethe techniquestechniquestechniquestechniquestechniquestechniquestechniquestechniques ofofofofofofofof TheTheTheTheTheTheTheThe EuropeanEuropeanEuropeanEuropeanEuropeanEuropeanEuropeanEuropean CommitteeCommitteeCommitteeCommitteeCommitteeCommitteeCommitteeCommittee forforforforforforforfor Standardization,Standardization,Standardization,Standardization,Standardization,Standardization,Standardization,Standardization, CENCENCENCENCENCENCENCEN (TC(TC(TC(TC(TC(TC(TC(TC335335335335335335335335))))))))........ OurOurOurOurOurOurOurOurproductproductproductproductproductproductproductproduct isisisisisisisis withinwithinwithinwithinwithinwithinwithinwithin thethethethethethethethe technicaltechnicaltechnicaltechnicaltechnicaltechnicaltechnicaltechnical specificationsspecificationsspecificationsspecificationsspecificationsspecificationsspecificationsspecifications beingbeingbeingbeingbeingbeingbeingbeing developeddevelopeddevelopeddevelopeddevelopeddevelopeddevelopeddeveloped dealdealdealdealdealdealdealdeal withwithwithwithwithwithwithwith classificationclassificationclassificationclassificationclassificationclassificationclassificationclassification andandandandandandandand specificationspecificationspecificationspecificationspecificationspecificationspecificationspecification (CEN(CEN(CEN(CEN(CEN(CEN(CEN(CEN //////// TSTSTSTSTSTSTSTS 1496114961149611496114961149611496114961)))))))) andandandandandandandand qualityqualityqualityqualityqualityqualityqualityqualityassuranceassuranceassuranceassuranceassuranceassuranceassuranceassurance forforforforforforforfor solidsolidsolidsolidsolidsolidsolidsolid biofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuels (CEN(CEN(CEN(CEN(CEN(CEN(CEN(CEN //////// TSTSTSTSTSTSTSTS 1523415234152341523415234152341523415234))))))))........

NormativeNormative specificationsspecifications forfor woodwood chipschips:: OriginOrigin -- ParticleParticle sizesize (P(P1616/P/P4545/P/P6363/P/P100100)) -- MoistureMoisture contentcontent (M(M2020/M/M3030/M/M4040/M/M5555/M/M6565)) --AshAsh contentcontent (A(A00..77/A/A11..55/A/A33..00/A/A66..00/A/A1010..00))

NormativeNormative specificationsspecifications forfor chemicallychemically handledhandled woodwood oror usedused woodwood:: NitrogenNitrogen (N(N00..55/N/N11..00/N/N33..00/N/N33..00+)+)

InformativeInformative specificationsspecifications forfor woodwood chipschips includeinclude:: NetNet energyenergy contentcontent (lower(lower heatingheating valuevalue (LHV))(LHV)) asas MJ/kgMJ/kg oror kWh/mkWh/m33 looseloose -- BulkBulkdensitydensity inin kg/mkg/m33 looseloose -- ChlorineChlorine contentcontent (Cl(Cl00..0303/Cl/Cl00..0707/Cl/Cl00..1010/Cl/Cl00..1010+)+) -- NitrogenNitrogen (N(N00..55/N/N11..00/N/N33..00/N/N33..00+)+)

ManyMany otherother propertiesproperties maymay alsoalso bebe specified,specified, includingincluding concentrationsconcentrations ofof manymany otherother elementselements andand volatilevolatile mattermatter andand ashash meltingmelting..

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

SGS Hard Wood Chips Eucalyptus SGS Hard Wood Chips Eucalyptus

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. SGS Hard Wood Chips Brazil Biomass SGS Hard Wood Chips Brazil Biomass

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100TEST REPORT No. 960 100--------2009 2009 2009 2009 2009 2009 2009 2009 Brazil Biomass and Renewable Energy S.A Brazil Biomass and Renewable Energy S.A

Raw Eucalyptus wood chips (Raw Eucalyptus wood chips (grandisgrandis and Eucalyptus and Eucalyptus salignasaligna) ) Origin: Brazil. Origin: Brazil. Received on 01/07/2009 and identified in laboratory and LCL 467/09. Received on 01/07/2009 and identified in laboratory and LCL 467/09. Approximate amount: 2.000 g Approximate amount: 2.000 g METHODS USED METHODS USED Moisture, NBR 8112/86 "Immediate Review (CMQMoisture, NBR 8112/86 "Immediate Review (CMQ--LCLLCL--PEPE--M070). M070). Equipment: Analytical balance, cod.: 83,823. Equipment: Analytical balance, cod.: 83,823. Validity of calibration: Validity of calibration: juljul/2010. Stove, cod.: 4174. Validity of calibration: /2010. Stove, cod.: 4174. Validity of calibration: juljul/2010. /2010. NBR 8112/86 NBR 8112/86 -- Instant Analysis Instant Analysis -- 4.3 " (CMQ4.3 " (CMQ--LCLLCL--PEPE--011). 011). Equipment: Analytical balance, cod.: 35,586. Validity of calibration: Equipment: Analytical balance, cod.: 35,586. Validity of calibration: junjun/2010 Furnace, cod.: 30,802. Validity of calibration: /2010 Furnace, cod.: 30,802. Validity of calibration: abrabr/2010. /2010. Carbon, Hydrogen and Nitrogen, ASTM D 5373Carbon, Hydrogen and Nitrogen, ASTM D 5373--07 "Standard Test Methods for Instrumental07 "Standard Test Methods for InstrumentalDetermination of Carbon, Hydrogen and Nitrogen in Laboratory Samples of Coal and Coke" (CMQDetermination of Carbon, Hydrogen and Nitrogen in Laboratory Samples of Coal and Coke" (CMQ--LCLLCL--PEPE--017). 017). Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance.

Test Report IPT/USP Wood Chips EucalyptusTest Report IPT/USP Wood Chips Eucalyptus

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Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Analytical balance, cod.: LCL 003. Validity of calibration: Analytical balance, cod.: LCL 003. Validity of calibration: janjan/2010. /2010. Sulfur, ASTM D 4239Sulfur, ASTM D 4239--04th "Standard Test Methods for Sulfur in the Analysis Sample of Coal and Coke Using High Temperature Tube F04th "Standard Test Methods for Sulfur in the Analysis Sample of Coal and Coke Using High Temperature Tube FurnaceurnaceCombustion Method" Combustion Method" -- Method C (CMQMethod C (CMQ--LCLLCL--PEPE--028). 028). Equipment: Sulfur Analyzer, cod.: 33805, calibrated before the test performance. Balance AM, cod.: 33,510. Validity of CalibrEquipment: Sulfur Analyzer, cod.: 33805, calibrated before the test performance. Balance AM, cod.: 33,510. Validity of Calibratiation: on: janjan/2010. /2010. Calorific value, ASTM D 5865Calorific value, ASTM D 5865--04 "Standard Test Methods for Gross Calorific Value of Coal and Coke" (CMQ04 "Standard Test Methods for Gross Calorific Value of Coal and Coke" (CMQ--LCLLCL--PEPE--041). 041). Equipment / Instruments: adiabatic Equipment / Instruments: adiabatic calorimetrycalorimetry, cod.: 21354 Bomb , cod.: 21354 Bomb calorimetrycalorimetry, , códcód.: 8357. Validity of Calibration: .: 8357. Validity of Calibration: juljul/2010. /2010. No material received: Moisture: 3.1 No material received: Moisture: 3.1 -- 18 % 18 % ±± 4% 4% In the dry material: Gray 3.2 In the dry material: Gray 3.2 --% 1.2% % 1.2% Hydrogen Hydrogen -- 6%, 1% 6%, 1% ±± 0.2 0.2 Sulfur Sulfur -- 0.013% 0.013% Calorific value Calorific value -- kcal / kg higher than 4537.2 kcal / kg higher than 4537.2 ±± 238.8 Below 4298.4 238.8 Below 4298.4 ±± 238.8 238.8 São Paulo, 01 July 2009São Paulo, 01 July 2009

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Analysis LBF/UFPR Wood Chips EucalyptusAnalysis LBF/UFPR Wood Chips Eucalyptus

RESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISRESULTS OF ANALYSISBRAZIL BIOMASS AND RENEWABLE ENERGY SA BRAZIL BIOMASS AND RENEWABLE ENERGY SA 570, 570, CandidoCandido Hartmann, 24 243 Hartmann, 24 243 ChampagnatChampagnat Curitiba Paraná Brazil A / C Curitiba Paraná Brazil A / C CelsoCelso Marcelo de Oliveira EMarcelo de Oliveira E--mail: [email protected] mail: [email protected] Phone: 41 333Phone: 41 333--2284 2284 -- 41 88630864 41 88630864 IMPLEMENTATION: LABORATORY OF BIOMASS ENERGY (EBL) SECTOR OF AGRICULTURAL SCIENCES FEDERAL UNIVERSITY OF PARANA BRAZIL IMPLEMENTATION: LABORATORY OF BIOMASS ENERGY (EBL) SECTOR OF AGRICULTURAL SCIENCES FEDERAL UNIVERSITY OF PARANA BRAZIL PROF. DR. DIMAS AGOSTINHO DA SILVA PROF. DR. DIMAS AGOSTINHO DA SILVA Curitiba, July 2009 Curitiba, July 2009 OBJECTIVE: OBJECTIVE: Analyze biomass to produce thermal energy. The parameters determined were moisture, chemical composition (the content of volaAnalyze biomass to produce thermal energy. The parameters determined were moisture, chemical composition (the content of volatiltiles, fixed carbon and ash) es, fixed carbon and ash) and calorific value. and calorific value. RAW : Eucalyptus chips ORIGIN: Brazil METHODOLOGY: RAW : Eucalyptus chips ORIGIN: Brazil METHODOLOGY: •Moisture: As the standard of ABNT NBR 7993. •Moisture: As the standard of ABNT NBR 7993. • Chemical Composition (volatiles, fixed carbon and ash): As the ABNT standard NBR 8112 • Chemical Composition (volatiles, fixed carbon and ash): As the ABNT standard NBR 8112 • Calorific value (upper and lower): As the ABNT standard NBR 8633 • Calorific value (upper and lower): As the ABNT standard NBR 8633 RESULTS TABLE RESULTS TABLE -- RESULTS FOR AVERAGE PARAMETERS ASSESSEDRESULTS FOR AVERAGE PARAMETERS ASSESSED

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PARAMETERS PARAMETERS UNITUNIT VALUESVALUES STANDARDDSTANDARDD REPLICATREPLICAT

Moisture Dry BasisMoisture Dry Basis %% 18,4418,44 1,971,97 33

VolatilesVolatiles %% 80,3980,39 1,291,29 33

Fixed CarbonFixed Carbon %% 19,1019,10 1,221,22 33

Ash ContentAsh Content %% 0,610,61 0,090,09 33

Gross Calorific Value DryGross Calorific Value Dry Kcal/KgKcal/Kg 49,0149,01 107107 44

Lower Calorific Value DryLower Calorific Value Dry Kcal/KgKcal/Kg 45774577 105105 44

Calorific Useful WetCalorific Useful Wet** Kcal/KgKcal/Kg 37803780 123123 44

••Refers to the calorific value considering the moisture content in dry basis of 18.44%Refers to the calorific value considering the moisture content in dry basis of 18.44%Prof. Dr. Dimas Agostinho da SilvaProf. Dr. Dimas Agostinho da Silva

Responsável pelo Laboratório de Energia de Biomassa (LEB)Responsável pelo Laboratório de Energia de Biomassa (LEB)Departamento de Engenharia e Tecnologia Florestal Universidade Federal do ParanáDepartamento de Engenharia e Tecnologia Florestal Universidade Federal do Paraná

Av. Av. LothárioLothário MeissnerMeissner, 900 , 900 -- Jardim BotânicoJardim Botânico

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. ExportsExports Wood Chips Wood Chips EucalyptusEucalyptus

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Hard Wood Hard Wood Chips EucalyptusChips Eucalyptus

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HARD WOOD CHIPS PAPER HARD WOOD CHIPS PAPER

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PINUS PINUS

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Hard Wood Hard Wood Chips Chips PinusPinus

Hard wood Wood ChipsHard wood Wood Chips PinusPinus Paper Paper -- MDF BrazilMDF Brazil

Wood Species Wood Species Wood Species Wood Species Pinus

Place of OriginPlace of OriginPlace of OriginPlace of Origin Brazil

CertificationCertificationCertificationCertification SGS International and Alex Stewart

Calorific PowerCalorific PowerCalorific PowerCalorific Power 4.847 Kcal/Kg

Dimensions of Wood Dimensions of Wood Dimensions of Wood Dimensions of Wood ChipsChipsChipsChips

Codification 50 mm or more Averange 6,66% - Chips Codification 37,5 a 50 mm Averange 10,81% - Chips Codification 25 a 37,5mm Averange 32,02% - Chips Codification 12,5 a 37,5 mm Averange 33,27% - Chips

16

Codification 12,5 a 37,5 mm Averange 33,27% - Chips Codification 6,3 a 12,5 mm Averange 14,48% - Chips

Dimensions SawdustDimensions SawdustDimensions SawdustDimensions Sawdust Codification 0,25 a 6,3 mm Averange 2,78% - Sawdust

Energy OutputEnergy OutputEnergy OutputEnergy Output Wet Basis 2,324 to 3,726 MWh/Ton - Dry Basis 5,229 to 5,811 MWh/Ton

Chemical CompositionChemical CompositionChemical CompositionChemical Composition Oxygen Approx. 47% - Hydrogen Approx. 5,8% - Nitrogen Approx. 0,3% - Sulphur Less 0,003% - Chlorine Less than 0,1% - Carbon. 52%

ExtractivesExtractivesExtractivesExtractives Approx. 11,0% PH Approx. 5,7%

LigninLigninLigninLignin Approx. 25,8% Polvoses Approx. 16,3%

CelluloseCelluloseCelluloseCellulose 75,4% Pulping de Kraft

VolatilesVolatilesVolatilesVolatiles Approx. 13% Volatile Matter 70.55% % to 84.96%

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Fixed CarbonFixed CarbonFixed CarbonFixed Carbon 12.06% to 14.52%

Ash content Ash content Ash content Ash content 0,35% Sand Maximum 0,1%

BarkBarkBarkBark More than 1.0 – 3.5 %

Moisture ContentMoisture ContentMoisture ContentMoisture Content 20/28% max

Max. Chip SizeMax. Chip SizeMax. Chip SizeMax. Chip Size No more than 5% shall be 4 inches or larger in any dimension

Specifications Specifications Specifications Specifications for wood for wood for wood for wood chipschipschipschips

The fuel specifications and classes for all solid biofuels are set out in CEN/TS 14961:2005, which defines certain parameters and property classes.. Fuel quality is set out in IS CEN TS 14961:2005 Solid Biofuels – Fuel Specifications and Classes.

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14961:2005 Solid Biofuels – Fuel Specifications and Classes.

Production Quantity Production Quantity Production Quantity Production Quantity 15,000 MT/Month and 180,000 MT/Year with possible to 300,000 MT/Month South Brazil

TheTheTheTheTheTheTheThe PremiumPremiumPremiumPremiumPremiumPremiumPremiumPremium WoodWoodWoodWoodWoodWoodWoodWood ChipsChipsChipsChipsChipsChipsChipsChips BrazilBrazilBrazilBrazilBrazilBrazilBrazilBrazil isisisisisisisis producedproducedproducedproducedproducedproducedproducedproduced withinwithinwithinwithinwithinwithinwithinwithin thethethethethethethethe techniquestechniquestechniquestechniquestechniquestechniquestechniquestechniques ofofofofofofofof TheTheTheTheTheTheTheThe EuropeanEuropeanEuropeanEuropeanEuropeanEuropeanEuropeanEuropean CommitteeCommitteeCommitteeCommitteeCommitteeCommitteeCommitteeCommittee forforforforforforforfor Standardization,Standardization,Standardization,Standardization,Standardization,Standardization,Standardization,Standardization, CENCENCENCENCENCENCENCEN (TC(TC(TC(TC(TC(TC(TC(TC335335335335335335335335))))))))........ OurOurOurOurOurOurOurOurproductproductproductproductproductproductproductproduct isisisisisisisis withinwithinwithinwithinwithinwithinwithinwithin thethethethethethethethe technicaltechnicaltechnicaltechnicaltechnicaltechnicaltechnicaltechnical specificationsspecificationsspecificationsspecificationsspecificationsspecificationsspecificationsspecifications beingbeingbeingbeingbeingbeingbeingbeing developeddevelopeddevelopeddevelopeddevelopeddevelopeddevelopeddeveloped dealdealdealdealdealdealdealdeal withwithwithwithwithwithwithwith classificationclassificationclassificationclassificationclassificationclassificationclassificationclassification andandandandandandandand specificationspecificationspecificationspecificationspecificationspecificationspecificationspecification (CEN(CEN(CEN(CEN(CEN(CEN(CEN(CEN //////// TSTSTSTSTSTSTSTS 1496114961149611496114961149611496114961)))))))) andandandandandandandand qualityqualityqualityqualityqualityqualityqualityqualityassuranceassuranceassuranceassuranceassuranceassuranceassuranceassurance forforforforforforforfor solidsolidsolidsolidsolidsolidsolidsolid biofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuelsbiofuels (CEN(CEN(CEN(CEN(CEN(CEN(CEN(CEN //////// TSTSTSTSTSTSTSTS 1523415234152341523415234152341523415234))))))))........

NormativeNormative specificationsspecifications forfor woodwood chipschips:: OriginOrigin -- ParticleParticle sizesize (P(P1616/P/P4545/P/P6363/P/P100100)) -- MoistureMoisture contentcontent (M(M2020/M/M3030/M/M4040/M/M5555/M/M6565)) --AshAsh contentcontent (A(A00..77/A/A11..55/A/A33..00/A/A66..00/A/A1010..00))

NormativeNormative specificationsspecifications forfor chemicallychemically handledhandled woodwood oror usedused woodwood:: NitrogenNitrogen (N(N00..55/N/N11..00/N/N33..00/N/N33..00+)+)

InformativeInformative specificationsspecifications forfor woodwood chipschips includeinclude:: NetNet energyenergy contentcontent (lower(lower heatingheating valuevalue (LHV))(LHV)) asas MJ/kgMJ/kg oror kWh/mkWh/m33 looseloose -- BulkBulkdensitydensity inin kg/mkg/m33 looseloose -- ChlorineChlorine contentcontent (Cl(Cl00..0303/Cl/Cl00..0707/Cl/Cl00..1010/Cl/Cl00..1010+)+) -- NitrogenNitrogen (N(N00..55/N/N11..00/N/N33..00/N/N33..00+)+)

ManyMany otherother propertiesproperties maymay alsoalso bebe specified,specified, includingincluding concentrationsconcentrations ofof manymany otherother elementselements andand volatilevolatile mattermatter andand ashash meltingmelting..

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Technician Report Energy Analysis Wood Technician Report Energy Analysis Wood Chips Pinus Paper Chips Pinus Paper –– MDF Brazil Biomass MDF Brazil Biomass

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WOOD CHIPS BIOMASSWOOD CHIPS BIOMASS

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FUEL ENERGYFUEL ENERGY

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. BiomassBiomass EnergyEnergy Wood ChipsWood Chips

Biomass Energy Wood ChipsBiomass Energy Wood Chips

Wood Species Wood Species Wood Species Wood Species Eucalyptus or Pinus

Place of OriginPlace of OriginPlace of OriginPlace of Origin Brazil

CertificationCertificationCertificationCertification SGS and Alex Stewart test report or FSC Wood

Calorific PowerCalorific PowerCalorific PowerCalorific Power 4.627 Kcal/Kg

Dimensions of Wood Dimensions of Wood Dimensions of Wood Dimensions of Wood ChipsChipsChipsChips

28.6mm - (Oversize) not more than 5.0 % - 4.8mm - 28.6mm, not less than 91.0 % - 9.5mm - 22.2mm, not less than 55.0 % - 4.8mm

Analyses Energy Analyses Energy Analyses Energy Analyses Energy The analyses had been doing at the Energy Laboratory.

22

Analyses Energy Analyses Energy Analyses Energy Analyses Energy LaboratoryLaboratoryLaboratoryLaboratory

The analyses had been doing at the Energy Laboratory. For the determination of the moisture content, the stoichiometric method was used. The results are presented in the green base. The granulometry was determined by method developed in the Energy Laboratory. Ash in wood was determinated by TAPPI T211 Standard and gross and net calorific value by DIN 51900 Standard.Moisture content, ash, gross calorific value and net calorific value in wood. Moisture content 40% Gross calorific value 4727The ideal moisture content is equal or lesser that 30% and greaters that 60% are undesirable. The ashcontent is low, compatible with the usual values of the wood. The gross calorific value is compatible withthe values observed for wood, that are between 4500 the 4600 kcal/kg. The net calorific value must begreater that 1200 kcal/kg to have satisfactory performance in burners with grate. 87,24% of materialhave chips dimensions.Materials for use in burners with grate system must have lesser percentage 30% of material withsawdust dimensions.It shows that the material have adequadet dimensions for burners systems with grates. Theenergy characterization of the material shows that the results of the ash, gross calorific value andgranulometry are adequated. The material can be used in the generation of energy, in systems ofburners with grates (fixed or mobile stream beds)

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Energy OutputEnergy OutputEnergy OutputEnergy Output Wet Basis 2,324 to 3,726 MWh/Ton - Dry Basis 5,229 to 5,811 MWh/Ton

Chemical CompositionChemical CompositionChemical CompositionChemical Composition Oxygen Approx. 49% - Hydrogen Approx. 6,8% - Nitrogen Approx. 0,5% - Sulphur Less 0,005% -Chlorine Less than 0,2% - Carbon. 55%

ExtractivesExtractivesExtractivesExtractives Approx. 13,0% PH Approx. 5,9%

LigninLigninLigninLignin Approx. 29,8% Polvoses Approx. 18,3%

CelluloseCelluloseCelluloseCellulose 66,4% Pulping de Kraft

VolatilesVolatilesVolatilesVolatiles Approx. 15% Volatile Matter 72.55% % to 86.96%

Fixed CarbonFixed CarbonFixed CarbonFixed Carbon 14.06% to 16.52%

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Fixed CarbonFixed CarbonFixed CarbonFixed Carbon 14.06% to 16.52%

Ash content Ash content Ash content Ash content 0,55% Sand Maximum 0,4%

BarkBarkBarkBark More than 4.0/5,0 %

Moisture ContentMoisture ContentMoisture ContentMoisture Content 28/30% max

Max. Chip SizeMax. Chip SizeMax. Chip SizeMax. Chip Size No more than 5% shall be 4 inches or larger in any dimension

Specifications Specifications Specifications Specifications for wood for wood for wood for wood chipschipschipschips

The fuel specifications and classes for all solid biofuels are set out in CEN/TS 14961:2005, which defines certain parameters and property classes.. Fuel quality is set out in IS CEN TS 14961:2005 Solid Biofuels – Fuel Specifications and Classes.

Production Quantity Production Quantity Production Quantity Production Quantity 30,000 MT/Month and 360,000 MT/Year with possible to 500,000 MT/Month South Brazil

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100TEST REPORT No. 970 100--------2009 2009 2009 2009 2009 2009 2009 2009 Brazil Biomass and Renewable Energy S.A Brazil Biomass and Renewable Energy S.A

Raw Raw PinusPinus wood chips wood chips Origin: Brazil. Origin: Brazil. Received on 01/03/2009 and identified in laboratory and LCL 467/08. Received on 01/03/2009 and identified in laboratory and LCL 467/08. Approximate amount: 400 g Approximate amount: 400 g METHODS USED METHODS USED Moisture, NBR 8112/86 "Immediate Review (CMQMoisture, NBR 8112/86 "Immediate Review (CMQ--LCLLCL--PEPE--M070). M070). Equipment: Analytical balance, cod.: 83,823. Equipment: Analytical balance, cod.: 83,823. Validity of calibration: Validity of calibration: juljul/2010. Stove, cod.: 4174. Validity of calibration: /2010. Stove, cod.: 4174. Validity of calibration: juljul/2010. /2010. NBR 8112/86 NBR 8112/86 -- Instant Analysis Instant Analysis -- 4.3 " (CMQ4.3 " (CMQ--LCLLCL--PEPE--011). 011). Equipment: Analytical balance, cod.: 35,586. Validity of calibration: Equipment: Analytical balance, cod.: 35,586. Validity of calibration: junjun/2010 Furnace, cod.: 30,802. Validity of calibration: /2010 Furnace, cod.: 30,802. Validity of calibration: abrabr/2010. /2010. Carbon, Hydrogen and Nitrogen, ASTM D 5373Carbon, Hydrogen and Nitrogen, ASTM D 5373--07 "Standard Test Methods for Instrumental07 "Standard Test Methods for InstrumentalDetermination of Carbon, Hydrogen and Nitrogen in Laboratory Samples of Coal and Coke" (CMQDetermination of Carbon, Hydrogen and Nitrogen in Laboratory Samples of Coal and Coke" (CMQ--LCLLCL--PEPE--017). 017).

Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance.

Test Report IPT/USP Wood Chips Test Report IPT/USP Wood Chips PinusPinus

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Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Equipment: Analyzer Carbon, Hydrogen and Nitrogen, cod.: LCL 002, calibrated before the test performance. Analytical balance, cod.: LCL 003. Validity of calibration: Analytical balance, cod.: LCL 003. Validity of calibration: janjan/2010. /2010. Sulfur, ASTM D 4239Sulfur, ASTM D 4239--04th "Standard Test Methods for Sulfur in the Analysis Sample of Coal and Coke Using High Temperature Tube F04th "Standard Test Methods for Sulfur in the Analysis Sample of Coal and Coke Using High Temperature Tube Furnace urnace

Combustion Method" Combustion Method" -- Method C (CMQMethod C (CMQ--LCLLCL--PEPE--028). 028). Equipment: Sulfur Analyzer, cod.: 33805, calibrated before the test performance. Balance AM, cod.: 33,510. Validity of CalibrEquipment: Sulfur Analyzer, cod.: 33805, calibrated before the test performance. Balance AM, cod.: 33,510. Validity of Calibratiation: on: janjan/2010. /2010. Calorific value, ASTM D 5865Calorific value, ASTM D 5865--04 "Standard Test Methods for Gross Calorific Value of Coal and Coke" (CMQ04 "Standard Test Methods for Gross Calorific Value of Coal and Coke" (CMQ--LCLLCL--PEPE--041). 041).

Equipment / Instruments: adiabatic Equipment / Instruments: adiabatic calorimetrycalorimetry, cod.: 21354 Bomb , cod.: 21354 Bomb calorimetrycalorimetry, , códcód.: 8357. Validity of Calibration: .: 8357. Validity of Calibration: juljul/2010. /2010. No material received: Moisture: 3.1 No material received: Moisture: 3.1 -- 25 % 25 % ±± 4% 4% In the dry material: Gray 3.2 In the dry material: Gray 3.2 --% 1.2% % 1.2% Hydrogen Hydrogen -- 6%, 1% 6%, 1% ±± 0.2 0.2 Sulfur Sulfur -- 0.013% 0.013% Calorific value Calorific value -- kcal / kg higher than 4537.2 kcal / kg higher than 4537.2 ±± 238.8 Below 4298.4 238.8 Below 4298.4 ±± 238.8 238.8 São Paulo, 15 March 2009São Paulo, 15 March 2009

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

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BRAZIL BIOMASSBRAZIL BIOMASS

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PhytoPhyto –– Fumigation Fumigation --

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Wood ChipsWood ChipsPhitossanitary Certificate Phitossanitary Certificate

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Wood ChipsWood ChipsPhitossanitary Certificate Phitossanitary Certificate

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Wood ChipsWood ChipsPhitossanitary Certificate Phitossanitary Certificate

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Wood ChipsWood ChipsPhitossanitary Certificate Phitossanitary Certificate

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PARTNER BUSINESS BRAZIL BIOMASSPARTNER BUSINESS BRAZIL BIOMASS

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ARACRUZ WOODARACRUZ WOOD

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GUARARAPES WOODGUARARAPES WOOD

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PARTNER BUSINESS BRAZIL BIOMASSPARTNER BUSINESS BRAZIL BIOMASS

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SUDATI WOODSUDATI WOOD

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BRAZIL BIOMASSBRAZIL BIOMASS

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BRAZIL BIOMASSBRAZIL BIOMASS

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Forest Forest EucalyptusEucalyptus

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. LogsLogs EucalyptusEucalyptus

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Industrial Wood ChipsIndustrial Wood Chips

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Industrial Wood ChipsIndustrial Wood Chips

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Wood Chips Brazil BiomassWood Chips Brazil Biomass

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Wood Chips Brazil BiomassWood Chips Brazil Biomass

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Wood Chips Brazil BiomassWood Chips Brazil Biomass

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Wood Chips Brazil BiomassWood Chips Brazil Biomass

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Storage Storage

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

Storage Storage

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. StorageStorage Wood Wood ChipsChips

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Drying System for Container

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A.

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Port Port BrazilBrazil

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BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Transported Container Transported Container

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. Transport Bulk ShipTransport Bulk Ship

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. FullFull CorporateCorporate OfferOfferWe,We, BrazilBrazil BiomassBiomass andand RenewableRenewable EnergyEnergy andand CelsoCelso MarceloMarcelo dede OliveiraOliveira actingacting withwith fullfull corporatecorporate responsibilityresponsibility withwith fullfullresponsibilityresponsibility andand authorityauthority underunder penaltypenalty ofof perjury,perjury, herebyhereby havehave pleasurepleasure toto confirmconfirm ourour readiness,readiness, herebyhereby submitsubmit ourour formalformalFULLFULLFULLFULLFULLFULLFULLFULL CORPORATECORPORATECORPORATECORPORATECORPORATECORPORATECORPORATECORPORATE OFFEROFFEROFFEROFFEROFFEROFFEROFFEROFFER toto purchasepurchase thethe followingfollowing goodsgoods.. ByBy signing,signing, wewe statestate withwith fullfull legallegal responsibilityresponsibility thatthat wewe areare ready,ready,willingwilling andand ableable toto purchasepurchase thethe rawraw woodwood--chipschips commoditycommodity asas illustratedillustrated belowbelow andand areare thethe legallegal signatorysignatory withwith fullfull corporatecorporatepowerpower toto produceproduce thethe acceptableacceptable bankingbanking instrumentsinstruments toto activateactivate aa validvalid salessales contractcontract withwith aa PrimePrime InternationalInternational BankBank.. AfterAfterreceiptreceipt ofof signedsigned andand sealedsealed LetterLetter ofof Intent,Intent, oror signaturesignature ofof AcceptanceAcceptance ofof thethe FCO,FCO, partiesparties willwill provideprovide thethe followingfollowing:: ContractContractofof SaleSale fromfrom thethe SellerSeller toto thethe Buyer,Buyer, BuyerBuyer signssigns andand sealsseals ContractContract ofof PurchasePurchase BuyerBuyer opensopens aa BankingBanking GuaranteeGuarantee oror BankBankCapabilityCapability LetterLetter toto bebe submittedsubmitted atat thethe Seller’sSeller’s approvalapproval.. SellerSeller deliversdelivers firstfirst shipmentshipment asas perper thethe shippingshipping scheduleschedule establishedestablishedinin thethe ContractContract..

Buyer’sBuyer’sBuyer’sBuyer’sBuyer’sBuyer’sBuyer’sBuyer’s CoordinatesCoordinatesCoordinatesCoordinatesCoordinatesCoordinatesCoordinatesCoordinates::::::::CompanyCompanyCompanyCompanyCompanyCompanyCompanyCompany NameNameNameNameNameNameNameName::::::::AddressAddressAddressAddressAddressAddressAddressAddress::::::::

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AddressAddressAddressAddressAddressAddressAddressAddress::::::::CountryCountryCountryCountryCountryCountryCountryCountry::::::::TelephoneTelephoneTelephoneTelephoneTelephoneTelephoneTelephoneTelephone NNNNNNNN::::::::FaxFaxFaxFaxFaxFaxFaxFax NNNNNNNN::::::::NameNameNameNameNameNameNameName ofofofofofofofof SignatorySignatorySignatorySignatorySignatorySignatorySignatorySignatory::::::::TitleTitleTitleTitleTitleTitleTitleTitle ofofofofofofofof SignatorySignatorySignatorySignatorySignatorySignatorySignatorySignatory

ChipsChips meansmeans thethe woodenwooden productproduct derivedderived fromfrom SouthernSouthern EucalyptusEucalyptus producedproduced fromfrom SELLER’sSELLER’s plantation,plantation, producedproduced atat SELLER’sSELLER’schippingchipping MillMill forfor salesale toto BUYERBUYER BrasilBrasil BiomassBiomass inin accordanceaccordance withwith thethe conditionsconditions hereinherein..DÓLAR,DÓLAR, willwill bebe thethe paymentpayment currencycurrencyTON,TON, andand thethe TnTn abbreviationabbreviation and/orand/or ton,ton, meansmeans oneone longlong tonton equivalentequivalent toto 10001000 kgkg (kilograms)(kilograms)CARGOCARGO PORTPORT ITAJAI/NAVEGANTES/IMBITUBAITAJAI/NAVEGANTES/IMBITUBA SC,SC, meansmeans anyany portport ofof BrazilBrazil wherewhere thethe SellerSeller willwill loadload thethe BiomassBiomass ..PORTPORT OFOF DESCHARGE,DESCHARGE, meansmeans thethe portport toto bebe utilizedutilized byby thethe BUYERBUYER forfor thethe dischargedischarge ofof thethe goodsgoods andand willwill bebe indicatedindicated byby thetheBuyerBuyer forfor thethe entireentire ContractContract periodperiod ofof thethe unloadingunloading logisticlogistic ..VesselVessel meansmeans thethe ship,ship, whichwhich shallshall bebe fitted,fitted, forfor thethe transporttransport ofof ChipsChips.. YearYear meansmeans calendarcalendar yearyear inin thethe periodperiod commencingcommencing withwithJanuaryJanuary 11stst andand endingending withwith DecemberDecember 3131stst inin eacheach yearyear..GrossGross GrenGren WeightWeight meansmeans thethe weightweight ofof woodchipswoodchips inin itsits naturalnatural wetwet statestate inin MTMT.. DiscrepancyDiscrepancy meansmeans thethe differencedifference ofof thethe twotwoinvoiceinvoice valuesvalues whichwhich isis calculatedcalculated accordingaccording toto moisturemoisture contentcontent teststests performedperformed byby SGSSGS surveyorsurveyor companycompany.. TrialTrial meansmeans thethewoodchipswoodchips loadload ofof firstfirst vesselvessel whichwhich isis purchasedpurchased fromfrom SELLERSELLER inin orderorder toto testtest thethe qualityquality ofof thethe contractcontract productsproducts..

BRASIL BIOMASSA E ENERGIA RENOVÁVEL S.A. FullFull CorporateCorporate OfferOfferTERMSTERMSTERMSTERMSTERMSTERMSTERMSTERMS CONTRACTCONTRACTCONTRACTCONTRACTCONTRACTCONTRACTCONTRACTCONTRACT:::::::: SHIPMENTSSHIPMENTSSHIPMENTSSHIPMENTSSHIPMENTSSHIPMENTSSHIPMENTSSHIPMENTSTOTALTOTALTOTALTOTALTOTALTOTALTOTALTOTAL QUANTITYQUANTITYQUANTITYQUANTITYQUANTITYQUANTITYQUANTITYQUANTITY WOODWOODWOODWOODWOODWOODWOODWOOD CHIPSCHIPSCHIPSCHIPSCHIPSCHIPSCHIPSCHIPS::::::::TERMSTERMSTERMSTERMS OFOFOFOF PAYMENTPAYMENTPAYMENTPAYMENT.... The Letter of Credit Stand By shall be opened for the whole (100%) price of the single shipment. eighty (100) per centof the invoice amount shall be payable at sight against surrender of the shipment documents herein below listed, 05 days after the Bill ofLading date. Clean on board ocean Bill of Lading in three originals. Seller’s commercial invoice in three originals. Draft Survey report issuedat loading port in one original and one copy. Certificate of Fumigation in one original and one copy. Certificate of Origin in one original andone copy. Certificate of Analysis in one original and one copy. Insurance certificate (CIF). Letter issued by Department of Agricultureauthorizing fumigation certificate. The Buyer shall send the Measurement Certificate and Tally Report issued by SGS at discharging port. TheLetter of Credit should be opened by the Buyer 15 calendar days in advance to the Estimated Time of Arrival (ETA) of the vessel to theshipment port Brazil, and the seller or seller’s shipping Agent shall provide exact Shipping Advice including Vessel Name, departure date,estimated date of arrival, with proforma invoice indicate product, quantity and price.PACKINGPACKINGPACKINGPACKING:::: Bulk or ContainerMARKINGMARKINGMARKINGMARKING:::: To be agreed on contract

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PRICEPRICE BRAZIL BIOMASS 2009BRAZIL BIOMASS 2009

FOBFOBBRAZILBRAZIL(USD (USD BDMT)BDMT)

CIF CIF ROTHERDAM ROTHERDAM HAMBURGHAMBURG

CIFCIFENGLAND ENGLAND SPAIN PT SPAIN PT ITALYITALY

CIFCIFUSA USA

CANADACANADA

CIFCIF CHINA CHINA KOREIA KOREIA JAPONJAPON

HARDHARD WOOD WOOD CHIPS CHIPS EUCALYPTUSEUCALYPTUS

USUS 990,000,00

BDMTBDMT

USUS 16160,000,00

BDMTBDMT

USUS 165165,00,00

BDMTBDMT

USUS 165165,00,00

BDMTBDMT

USUS 17170,000,00

BDMTBDMT

HARDHARD WOOD WOOD CHIPS PINUS CHIPS PINUS

USUS 8585,00,00

BDMTBDMT

USUS 155155,00,00

BDMTBDMT

USUS 160160,00,00

BDMTBDMT

USUS 16160,000,00

BDMTBDMT

USUS 165165,00,00

BDMTBDMT

BIOMASS BIOMASS WOOD CHIIPS WOOD CHIIPS ENERGY ENERGY

USUS 880,000,00

BDMTBDMT

USUS 15150,000,00

BDMTBDMT

USUS 155155,00,00

BDMTBDMT

USUS 155155,00,00

BDMTBDMT

USUS 16160,000,00

BDMTBDMT