| ARID TECHNOLOGIES - Evaporative Loss Model (ELM) for Lantana, Florida | ||||||||||||
| INPUTS | BENEFIT SUMMARY | |||||||||||
| Monthly Throughput (gallons) | 500,000 | Vapor/Liquid Ratio | 0.97 | OWNING UNIT | ||||||||
| Monthly Gasoline Gallons Saved Yr 2009 | 885 | Gasoline RVP | 11.10 | After Tax IRR | 44% | |||||||
| Daily Gasoline Gallons Saved Yr 2009 | 29.49 | Storage Tank Temperature | 74.00 | After Tax NPV @ | 7% | $83,329 | ||||||
| Gasoline Saved, Year 2009, % of throughput | 0.18% | Depreciation Life (yr) | 5.00 | Total Avoided Emissions (Tons) During 10 Year Period | 338.13 | |||||||
| System Installed Cost | $35,000.00 | Altitude (feet above sea level) | 25 | |||||||||
| Discount Rate | 7% | Lessee Discount Rate (After Tax) | 7% | ARID Technologies, Inc. | ||||||||
| Wholesale Cost of Gasoline, excluding Taxes | $2.00 | 130 N. LaGrange Road, LaGrange, Illinois 60525 | 708.354.1100 | |||||||||
| PRODUCT SAVINGS | Coefficients | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| ORVR Vehicle Population | 38.9% | 44.9% | 50.5% | 56.0% | 61.3% | 66.3% | 71.0% | 75.3% | 78.6% | 82.2% | ||
| Evaporative Emissions, V/L =xx, Tons/Yr-Station | 0.97 | 15.70 | 17.11 | 18.45 | 19.74 | 20.97 | 22.16 | 29.27 | 36.23 | 42.96 | 49.72 | |
| Recovery with Membrane (Tons of Gasoline) | 99.3% | 15.59 | 16.98 | 18.31 | 19.60 | 20.82 | 22.00 | 29.06 | 35.97 | 42.65 | 49.36 | |
| Pounds of Gas Saved (1 ton =2,000 lbs) | 31,172.84 | 33,963.67 | 36,623.40 | 39,194.15 | 41,643.15 | 43,993.82 | 58,111.36 | 71,938.05 | 85,300.90 | 98,719.96 | ||
| Gallons of gas Saved (1lb = 5.2 gallons) | 5,994.78 | 6,531.48 | 7,042.96 | 7,537.34 | 8,008.30 | 8,460.35 | 11,175.26 | 13,834.24 | 16,404.02 | 18,984.61 | ||
| CASH FLOW FOR PURCHASED UNITS | Coefficients | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Value of Liquid Gasoline Saved | $2.00 | $11,989.55 | $13,062.95 | $14,085.92 | $15,074.67 | $16,016.60 | $16,920.70 | $22,350.52 | $27,668.48 | $32,808.04 | $37,969.22 | |
| Bulk Tanker Loading Savings | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | $5,215.38 | ||
| Subtotal Product Savings | $17,204.94 | $18,278.34 | $19,301.31 | $20,290.06 | $21,231.98 | $22,136.08 | $27,565.91 | $32,883.86 | $38,023.42 | $43,184.60 | ||
| Annual Capital, Operating & Maintenance Expenses | 1.50% | ($35,000.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) | ($525.00) |
| Depreciation: 5 year ACRS | ($14,000.00) | ($8,400.00) | ($5,040.00) | ($3,780.00) | ($3,780.00) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||
| Incremental Operating Income | $2,679.94 | $9,353.34 | $13,736.31 | $15,985.06 | $16,926.98 | $21,611.08 | $27,040.91 | $32,358.86 | $37,498.42 | $42,659.60 | ||
| Incremental Tax Expense | 32.00% | $857.58 | $2,993.07 | $4,395.62 | $5,115.22 | $5,416.63 | $6,915.55 | $8,653.09 | $10,354.84 | $11,999.49 | $13,651.07 | |
| Incremental Net Income After Tax | $1,822.36 | $6,360.27 | $9,340.69 | $10,869.84 | $11,510.35 | $14,695.54 | $18,387.82 | $22,004.03 | $25,498.93 | $29,008.53 | ||
| Add Back Depreciation | $14,000.00 | $8,400.00 | $5,040.00 | $3,780.00 | $3,780.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||
| After Tax Cash Flow | ($35,000.00) | $15,822.36 | $14,760.27 | $14,380.69 | $14,649.84 | $15,290.35 | $14,695.54 | $18,387.82 | $22,004.03 | $25,498.93 | $29,008.53 | |
| Cumulative Cash Flow | ($35,000.00) | ($19,177.64) | ($4,417.37) | $9,963.31 | $24,613.15 | $39,903.50 | $54,599.04 | $72,986.86 | $94,990.88 | $120,489.81 | $149,498.34 | |
| Volume saved/month (gallons) | 1,083.75 | 716.87 | 761.60 | 804.22 | 845.42 | 884.67 | 922.34 | 1,148.58 | 1,370.16 | 1,584.31 | 1,799.36 | |
| % Throughput Saved | 0.22 | 0.143 | 0.152 | 0.161 | 0.169 | 0.177 | 0.184 | 0.230 | 0.274 | 0.317 | 0.360 | |
| gallons per day saved | 34.96 | 23.12 | 24.57 | 25.94 | 27.27 | 28.54 | 29.75 | 37.05 | 44.20 | 51.11 | 58.04 | |