February 18, 2006

GAIL (India) Ltd receives the approval of its board for acquiring the license for εUCG technology from Ergo Exergy Technologies, Inc.

Ergo Exergy has been working with GAIL (India), the largest natural gas company in India, on development of an εUCG project in Rajasthan, utilizing a deep lignite deposit in the Barmer area. The parties have agreed on the terms of license to be acquired by GAIL from Ergo Exergy, and the GAIL board of directors has approved the terms and conditions of the license agreement the two parties have negotiated. This opens the path to an accelerated development of the εUCG project in Rajasthan. The project is targeting a 750 MW green-field IGCC plant.