CRT — A Platform for Industrial Defossilisation CEWT’s Carbon Recycling Technology (CRT) is conceived as a single integrated platform for the defossilisation of carbon-intensive industries and critical infrastructure. Rather than addressing carbon emissions, renewable energy, hydrogen, industrial heat, water, cooling and carbon capture as separate problems, CRT brings these functions together within one systems architecture. Its central principle is: Do not treat carbon as a disposable fuel. Treat carbon as a recyclable industrial resource. Conventional industry largely follows a linear pathway: Extract fossil carbon → convert it to energy and products → emit CO₂ → extract more fossil carbon. CRT seeks to transform this into a circular pathway: Carbon → useful function → CO₂ capture → carbon conversion → regenerated carbon-bearing molecule → reuse. Renewable electricity and renewable hydrogen provide the continuing energy input. Carbon increasingly becomes a recyclable carrier and industrial process material rather than a consumable fossil energy source. One Platform — Multiple Industrial Applications The CRT platform can be configured around the requirements of different industries while retaining the same underlying principles of carbon recycling, renewable-energy integration, heat recovery, water recovery and systems optimisation. Firm and Baseload Power CRT can convert renewable energy into continuously available power by integrating hydrogen production, carbon recycling, methane or syngas chemistry, power generation and CO₂ capture. The objective is to provide firm energy without requiring the continuous consumption of fresh fossil carbon. Green Iron and Steel CRT can integrate hydrogen-rich syngas with direct reduction, recycle process gases, recover CO₂ for methanation and provide controlled carbon chemistry for DRI carburisation and downstream processing. The objective is not simply lower-carbon steelmaking, but progressive defossilisation of the ironmaking energy and carbon system. Grid-Independent Data-Centre Infrastructure CRT creates the possibility of developing grid-independent data-centre infrastructure under one integrated energy and utility architecture. Instead of treating the data centre, electricity supply, cooling plant, water system and carbon-management facilities as separate infrastructure projects, CRT can bring them together: Renewable Energy → H₂ → CRT Firm Power → Data Centre with integrated: Power + Cooling + Heat Recovery + Water Recovery + Carbon Recycling + Backup/Resilience This changes the conventional data-centre proposition. The site is no longer entirely dependent upon waiting for sufficient grid connection capacity before computing infrastructure can be deployed. CRT can provide an integrated pathway toward behind-the-meter, continuously available energy infrastructure designed around the data centre itself. Waste and recovered thermal energy can support cooling and other thermal services. Water can be recovered and recycled. Captured carbon becomes an input to the recycling loop rather than simply an emission stream. The result is a concept for: Grid-Independent Data Centre Infrastructure Under One Roof where the energy plant and digital infrastructure are engineered as one integrated system rather than two separate projects. High-Temperature and Advanced Manufacturing The same platform philosophy can extend into industries requiring high-temperature energy, reducing gases and carbon-containing process materials, including emerging applications such as silicon production. Defossilisation as the Umbrella CRT places defossilisation above individual technology labels. Under this umbrella sit: Climate Change Mitigation • Decarbonisation • Circular Economy • Renewable Energy • Green Hydrogen • Carbon Capture and Utilisation • Firm Power • Industrial Heat • Green Manufacturing • Water Circularity • Energy Security • Grid Independence • Sustainable Infrastructure These are not separate objectives within CRT. They are outcomes produced by integrating energy and material flows. The CRT Platform Philosophy Yesterday: Extract carbon → use once → emit. Today: Capture carbon → store it. CRT: Capture carbon → recycle it → use it again, while renewable energy supplies the continuing energy requirement. The ambition is an industrial architecture in which: Every molecule has a destination. Every recoverable energy stream has a purpose. Every resource is considered for reuse. Fresh fossil-carbon consumption is progressively displaced. This is the CEWT vision: CRT — One Platform for Industrial Defossilisation From Power to Green Iron. From Data Centres to Advanced Manufacturing. One integrated carbon-recycling architecture.

CEWT 20 MW GRID-FREE CRT TRIGENERATION Investor Business Case | V0.1 Latrobe Valley Data Centre Demonstration | Victoria, Australia Investment proposition A 20 MW continuous Grid-Free energy platform integrating firm on-site electricity, useful heat, cooling and carbon recycling. The current screening case identifies approximately US$38.15 million per year of gross integrated system value before assigning any value to avoided grid infrastructure, speed-to-power or resilience premiums. Executive snapshot Metric Current screening basis Net continuous electrical output 20.0 MWe Installed generation 22.5 MWe - 5 x 4.5 MWe Annual operation 8,500 h/y Annual firm electricity 170,000 MWh/y Grid-Free firm-power tariff US$150/MWh Recoverable thermal efficiency 44.8% Total CHP efficiency 91.0% Identified gross integrated value ~US$38.15m/y Screening installed cost US$158.255m - subject to FEED/vendor validation Core thesis. CEWT should not be evaluated as a 20 MW commodity power plant. The proposition is an integrated infrastructure platform designed to sustain the data centre's primary energy duty independently of the electricity grid while converting otherwise-lost thermal and carbon streams into measurable value. This document is a screening investment case, not a financing offer. Commercial terms, carbon-credit eligibility, vendor performance, CAPEX and project schedule require validation during FEED and commercial diligence.   1. The infrastructure problem AI and high-density digital infrastructure require continuous electrical power, increasing cooling capacity and rapid deployment. Where grid connection, network augmentation or firm capacity cannot be delivered on the required schedule, the energy system can become the critical path for the data-centre project. CEWT response: design the energy platform with the data centre • Firm primary generation sized for continuous duty rather than relying on batteries for bulk energy. • DRUPS/battery systems reserved for millisecond-to-second ride-through, power quality and transition support. • Recoverable engine heat directed to cooling and other useful thermal duties. • CO2 captured and recycled within CRT rather than treating atmospheric release as the normal endpoint of combustion. • Grid connection can be retained where commercially useful, but the primary duty is designed to be independently sustainable. Grid-Free definition Grid-Free does not mean that a grid connection is prohibited. It means the platform is engineered so that the primary operating duty can be sustained without depending on continuous grid supply. 2. CRT system architecture Carbon Recycling Technology (CRT) treats carbon as a recyclable molecular carrier and renewable hydrogen as the replacement chemical-energy input. The public system boundary is: Primary energy -> Firm power -> Compute -> Cooling -> Useful output Within the energy island, combustion, heat recovery, cooling, CO2 recovery and fuel regeneration are integrated through mass balance, energy balance and heat integration. Detailed proprietary reaction ratios and process conditions are outside this investor screening document. Design philosophy Principle Application Mass balance Every material stream has a defined destination. Energy balance Electrical, thermal and chemical energy are accounted for together. Heat integration Recoverable heat is treated as a product opportunity, not merely a loss. Reliability Primary generation, ride-through and redundancy perform different duties. Carbon ledger Carbon circulation and losses are accounted for independently of energy.   3. Frozen screening design basis Parameter Basis Status Net electrical output 20.0 MWe continuous Frozen screening basis Installed output 22.5 MWe Frozen screening basis Generator configuration 5 x 4.5 MWe Jenbacher JMS 624 Vendor validation required Electrical efficiency 46.2% Screening/vendor basis Recoverable thermal efficiency 44.8% Screening/vendor basis Total CHP efficiency 91.0% Screening/vendor basis Fuel input 43.29 MW LHV Calculated screening basis Methane circulation 3.117 t/h Process screening basis Operating hours 8,500 h/y Commercial assumption H2 demand - Case A 431.7 kg/h Linde basis / validation required H2 demand - Case B 566 kg/h Conservative sensitivity Electrolyser 35 MW preferred / 40 MW conservative To be finalised Installed cost US$158.255m Screening estimate; FEED required Thermal utilisation basis • 70% of recoverable heat allocated to cooling. • Absorption-cooling COP: 0.70. • 20% of recoverable heat allocated to direct useful heat / displaced fuel. • 10% presently unallocated and unmonetised. The model deliberately avoids assigning value to all recoverable energy. This leaves additional optimisation potential for FEED while reducing the risk of overstating the current case. Key items requiring FEED/vendor confirmation • Generator performance, availability, maintenance intervals and emissions/capture interface. • Final electrolyser duty, hydrogen consumption, oxygen integration and electrical balance. • CO2 recovery performance, recycle purity, compression duty and process losses. • Cooling technology selection, achievable COP and data-centre cooling interface. • Installed CAPEX, construction schedule, contingency, owner's costs and commissioning requirements.   4. Commercial value stack The base case separates each monetisable service to avoid double counting. The US$150/MWh tariff represents firm Grid-Free electricity only; cooling and useful heat remain additional value streams. Value stream Annual basis Annual value Firm Grid-Free electricity 170,000 MWh x US$150/MWh US$25.50m Cooling Current trigeneration allocation US$6.46m Useful heat / displaced fuel Current useful-heat basis US$1.27m Carbon value Illustrative US$75/tCO2 basis US$4.92m TOTAL IDENTIFIED VALUE US$38.15m/y Equivalent integrated value US$38.15m divided by 170,000 MWh of firm electrical output is approximately US$224/MWh of firm electrical output. This is a system-value metric, not an electricity tariff. Strategic value deliberately excluded Potential value Base case treatment Avoided/reduced grid connection and network augmentation Excluded Speed-to-power / earlier data-centre revenue Excluded Resilience and availability premium Excluded Value of presently unallocated recoverable heat Excluded Hydrogen sensitivity Hydrogen consumption and delivered hydrogen price remain the dominant controllable economic variables. At the US$150/MWh firm-power tariff, the current screening model indicates the following approximate H2 price ceilings: H2 demand basis Project NPV = 0 ceiling Minimum DSCR = 1.30x ceiling 431.7 kg/h Linde basis ~US$4.16/kg ~US$6.94/kg 566 kg/h conservative basis ~US$3.17/kg ~US$5.30/kg The Project NPV threshold binds before the debt-service threshold in both cases. Engineering effort that reduces external hydrogen demand therefore has direct investment value.   5. Investment pathway and decision gates Illustrative capital structure used for screening Source Share Government / demonstration support 25% Customer contribution 10% Institutional / strategic equity 20% CEWT sponsor equity 5% Debt 40% This capital structure is an editable modelling assumption only and does not represent committed funding. Current screening debt assumptions are 5% interest and 15-year tenor; project discount rate is 8.4% and project life is 20 years. What an investor is being asked to fund • A demonstration-scale integrated energy platform with a defined 20 MW continuous duty. • FEED and vendor validation that converts screening assumptions into bankable performance guarantees. • Commercial development of the data-centre energy-service structure: firm power, cooling and associated system services. • De-risking of hydrogen supply, carbon-recycling integration and construction cost before FID. Proposed decision gates Gate Required evidence 1 - Technical validation Vendor performance, mass/energy balance, H2 demand, heat/cooling integration 2 - Commercial validation Customer term sheet/PPA-equivalent, cooling offtake/service terms, H2 supply 3 - Cost validation FEED CAPEX/OPEX, schedule, contingency and owner costs 4 - Financing validation Grant/customer support, equity terms, debt sizing and covenant testing 5 - FID Contracted revenues + performance guarantees + financeable EPC/supply package Investment case in one sentence CEWT is developing a 20 MW Grid-Free CRT Trigeneration Platform intended to convert a data centre's energy constraint into an integrated infrastructure asset producing firm power, cooling, useful heat and carbon-management value from one engineered system. Current conclusion The screening model indicates that the project can create materially more value when evaluated as an integrated Grid-Free trigeneration system than when evaluated as electricity generation alone. The immediate investment priority is not to add further speculative revenue streams, but to validate the present design basis, secure a firm-power/cooling customer structure, reduce hydrogen-demand uncertainty and replace screening CAPEX with vendor-supported FEED costs. Prepared by: Clean Energy and Water Technologies Pty Ltd (CEWT) Status: Investor screening document - V0.1, September 2026

THE GRID-FREE DATA CENTRE: POWER, COOLING AND CARBON AS ONE SYSTEM

THE GRID-FREE DATA CENTRE: POWER, COOLING AND CARBON AS ONE SYSTEM AI data centres are creating a new infrastructure challenge. We are building computing capacity faster than many electricity grids can provide new firm connections. At the same time, rack power densities are increasing rapidly, and cooling is becoming an integral part of the energy system. We should reconsider the architecture. At Clean Energy and Water Technologies (CEWT), we are developing a Grid-Free Trigeneration Platform based on our Carbon Recycling Technology (CRT). The principle is straightforward: Firm Power → Useful Heat → Cooling → Carbon Recovery → Carbon Recycling Instead of treating electricity generation, cooling, and carbon management as separate systems, CRT integrates them. A carbon-containing fuel provides firm power when required. The resulting CO₂ is captured rather than released as the normal end point of combustion. Renewable hydrogen is then used within the CRT process to regenerate a reusable fuel, allowing the carbon to circulate through the system. In this architecture: • carbon acts as a recyclable molecular carrier; • renewable hydrogen supplies replacement chemical energy; • firm generation supports continuous computing loads; • recovered thermal energy can support cooling and other useful duties; • batteries or DRUPS provide fast ride-through and power-quality support; and • the electricity grid can become optional support rather than the fundamental source of continuous power. This is why I use the term Grid-Free rather than simply behind-the-meter. The objective is not to disconnect from the grid for the sake of doing so. It is to design an energy platform capable of sustaining its primary operating duty independently, while retaining a grid connection where it provides commercial or operational value. For AI infrastructure, perhaps the future performance metric should also change. Not simply: How many MW does the data centre consume? But: How much useful compute can we deliver per MW of primary energy? The next generation of data centres may need to be designed not as buildings connected to an energy system, but as integrated energy-and-compute systems themselves. That is the direction we are pursuing with the CEWT Grid-Free CRT Trigeneration Platform. #DataCenters #AIInfrastructure #Trigeneration #CarbonRecycling #Hydrogen #EnergyEfficiency #BehindTheMeter #CleanEnergy #DigitalInfrastructure #CEWT

From Quartz to Silicon: Can Carbon Be Recycled Instead of Emitted?

From Quartz to Silicon: Can Carbon Be Recycled Instead of Emitted? Silicon sits quietly behind much of the modern world. Solar photovoltaic cells, semiconductors, power electronics, data centres and artificial intelligence all ultimately depend on highly purified silicon. Yet producing silicon begins with one of the most abundant materials on Earth — silicon dioxide, or quartz — and requires a substantial amount of energy and a reducing agent to remove its oxygen. Traditionally, carbon performs that role. This raises an interesting question: If silicon is becoming increasingly important to the clean-energy and digital economy, can we rethink what happens to the carbon used in producing it? Quartz is abundant. Producing silicon is not simple. At its simplest, silicon production involves removing oxygen from: SiO₂ to obtain: Si That transformation requires considerable energy. Conventional silicon production uses carbonaceous reducing materials at very high temperatures. Carbon combines with oxygen from the silica and ultimately leaves the process predominantly as carbon-containing gases. The conventional carbon pathway is therefore largely linear: Carbon → reduction → carbon-containing gas → atmosphere But does it always have to remain that way? What if carbon became part of a cycle? At Clean Energy and Water Technologies, we have been developing a broader concept called Carbon Recycling Technology (CRT). The underlying philosophy is straightforward: Carbon does not necessarily have to be used once and discarded. If carbon-containing gases can be captured, converted and returned to the process, carbon begins to behave more like a circulating process material. Renewable energy then supplies the continuing energy required to maintain that circulation. This distinction is fundamental. Carbon can circulate. Energy must continually be supplied. Methane provides an interesting possibility Methane contains both carbon and hydrogen: CH₄ With appropriate energy input, methane can be separated conceptually into: CH₄ → C + 2H₂ This creates two potentially valuable streams: • carbon that may participate in metallurgical processing; and • hydrogen that can become part of the wider energy and chemical system. Now consider the carbon-containing gases produced during silicon manufacture. Rather than automatically treating captured CO₂ as a waste stream requiring disposal, another pathway becomes possible: CO₂ + renewable H₂ → CH₄ + H₂O The methane can potentially return to the process. The carbon begins to circulate. The carbon atom has no label We often distinguish between fossil carbon, biogenic carbon, captured carbon and atmospheric carbon. Those distinctions are extremely important when accounting for climate impact and determining whether new carbon is being introduced into the active carbon cycle. But chemically, the carbon atom itself does not carry a label. The engineering question is therefore: Where did the carbon come from — and where does it go next? If fresh fossil carbon continually enters a process and its CO₂ continually leaves for the atmosphere, emissions accumulate. If instead a defined carbon inventory can be captured and repeatedly circulated within an engineered system, the architecture becomes fundamentally different. That is the principle we are exploring with CRT. Silicon presents a particularly interesting opportunity The silicon value chain brings together several major themes of the energy transition: renewable electricity, high-temperature processing, hydrogen, carbon, heat recovery and advanced materials. Rather than optimising each independently, perhaps they can increasingly be considered as one integrated system. Our engineering sequence is: Mass balance → Energy balance → Heat integration → Equipment efficiency → Dynamic optimisation Every carbon atom should have a destination. Every hydrogen molecule should have a purpose. And every recoverable unit of thermal energy should be considered before it is rejected as waste heat. From silicon to the wafer Producing metallurgical silicon is only the beginning. Semiconductor and photovoltaic wafers require additional purification, polysilicon production, crystal growth, slicing and finishing. Each stage has its own energy, material and environmental footprint. Therefore, it would be premature to describe a silicon wafer produced through such a developing pathway as completely “emission-free.” The more meaningful objective is: Can we progressively design a silicon value chain in which direct carbon emissions are minimised, process carbon is recycled, and the continuing energy input increasingly comes from renewable sources? If that can be demonstrated first at silicon-production level, the boundary can subsequently be expanded toward polysilicon, ingots and ultimately wafers. A different philosophy for industrial decarbonisation Much of the energy transition understandably focuses on eliminating fossil fuels. There may be another complementary engineering principle worth considering: Do not automatically eliminate carbon from every industrial process. Eliminate the need to continuously extract, consume and emit new carbon. Capture it. Account for it. Recycle it. Supply the required energy renewably. For silicon — a material that will help build the renewable-energy and AI infrastructure of the future — that seems a question worth investigating. From quartz to silicon, can carbon become part of the cycle rather than the emission? That is the question we are beginning to explore through Carbon Recycling Technology.

When does a hydrogen project become a white elephant?

When does a hydrogen project become a white elephant? Perhaps when producing hydrogen becomes the objective rather than producing something useful with hydrogen. We often measure hydrogen projects by electrolyser capacity — 100 MW, 300 MW, 1 GW, or even larger. But MW measures installed equipment. It does not measure economic value. A hydrogen project can struggle when the electrolyser has low utilisation, renewable electricity is not available at the required cost, storage and transport become expensive, or there is no bankable long-term demand for the hydrogen produced. There is another way to approach the problem. Start with the useful product and work backwards. If the objective is green iron, start with tonnes of iron. If it is ammonia, start with tonnes of ammonia. If it is firm electricity, start with MWh delivered. If it is silicon, start with tonnes of silicon. Then determine how much hydrogen is actually required, followed by the electrolyser capacity, renewable generation, storage and supporting infrastructure. Hydrogen does not always have to be the final product. It can be an intermediate carrier that transfers renewable energy into industrial processes, reducing gases, synthetic molecules and firm-energy systems. Perhaps the more useful KPI for the hydrogen economy is therefore not simply: How many kilograms of hydrogen can we produce? But: How much useful industrial output can we create from each kilogram of hydrogen and each MWh of renewable electricity? That shift in thinking could help distinguish sustainable hydrogen projects from very large stranded assets.