VOLT GROUP LIMITED — Capital/Financing Update 2012

May 30, 2012

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31 May 2012

The Manager Company Announcements Office ASX Ltd

Carnarvon Project update

Perth-based clean power company Enerji Limited (ASX:ERJ) has further progressed with installation of the waste heat to power system at Horizon Power’s Carnarvon Power Station with the cooling tower construction and switch room installation completed.

The cooling tower, which is around 5m in height and clearly visible from the town, was constructed on site and completed earlier this week in line with the new work schedule. It consists of 2 “cells” which are built approximately 2m apart to allow access to all sides of the cells. A 50T crane was on site yesterday, and again today, to move the 2 cells together and place them on their concrete pad in readiness for connection to the Opcon Powerbox and the water supply.

The base of the switch room, which houses the electrical switching and control systems equipment, was completed earlier this week. This cleared the way for the transport of the preconstructed switch room to site. It has now been placed on its base in preparation for the required cabling.

Photographs of the cooling tower and switch room are shown below. In the foreground of one of the photographs, the pumps required to circulate the hot water to the Opcon Powerbox are clearly visible. These were also installed in the past fortnight.

The changes to project and site management staff at the power station mentioned in a previous announcement has been a very positive influence on the encouraging progress made in recent weeks.

It is also expected that the pipework infrastructure between the Opcon Powerbox and the heat recovery units will be given a boost later this week as the pipe bridge over the service road between Enerji’s equipment and the powerstation is completed. This will allow the installation of the necessary hot water circuit pipes, control system cables and air lines. The crane will also be used today to place the transformer into place on its concrete pad.

This will be followed in the coming weeks by further works on the piping and cabling as well as precommissioning work on the Opcon Powerbox which will see it being charged with the first small amount of refrigerant. This paves the way for the scheduled commencement of the Opcon Powerbox commissioning in the 4[th] week of June.

Enerji continues to develop its pipeline of prospects for the Opcon Powerbox in the mining industry while also exploring project and equipment finance options.

The Opcon Powerbox has the capacity to produce up to 20% more electrical power without burning additional fuel, while also potentially lowering CO2 emissions by up to 15%. Customer savings from the Opcon Powerbox have been estimated at up to $5.1m after five years and $34.7m after 20 years.

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10 Ord Street, West Perth WA 6005. PO Box 1933, West Perth WA 6872 Telephone: +618 9268 3800 Facsimile: +618 9226 2018

Enquiries: Greg Pennefather Enerji Limited +61 8 9268 3800

Rudi Michelson Monsoon Communications +61 3 9620 3333

www.enerji.com.au

About Enerji

Enerji Limited is a Perth-based clean power company focussed on commercialising the Opcon Powerbox in Australia.

The Opcon Powerbox cogeneration technology transforms waste heat into electricity and therefore creates significant energy cost savings and reduced CO2 emissions for its customers.

Enerji has exclusive sales and distribution rights for the Opcon Powerbox in Australia and options for Malaysia, Thailand, Singapore, and Sub-Saharan Africa.

The Opcon Powerbox, manufactured in Sweden by Opcon, represents a significant commercial opportunity through application to industrial, mining and power generation operations.

Enerji plans to maximise this opportunity and generate shareholder returns through long-term power purchase agreements.

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Figure
1
-­‐
The
cooling
towers
on
the
left
and
switch
room
on
the
right
were
positioned
yesterday

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Figure
2
-­‐
The
switch
room
installed
on
its
bas
with
the
circulation
pumps
in
the
foreground