Kalina Power Limited reported the signing of a non-exclusive and non-binding Memorandum of Understanding ("MOU") to establish global energy technology company Baker Hughes as a preferred vendor of advanced turbine technology for a range of Kalina Cycle® designs. Baker Hughes has been selected to initially provide its vapor turbine for use with the Kalina Cycle® at KALiNA's 64MW combined cycle project in Saddle Hills, Alberta, Canada. The MOU also includes Baker Hughes to be a preferred vendor of gas turbines for small-scale, combined cycle plants of up to 24MW configured with NovaLT gas turbines in this range with the Kalina Cycle® for KALiNA's global projects.

This agreement is a significant development in the Company's mission to deploy applications of its high- efficiency Kalina Cycle® technology ("KCT") at an industrial scale for major international markets. Baker Hughes technologies offer best-in-class efficiency in a wide range of power generation applications, contributing to the reduction of CO2 emissions and build on decades of proven experience across a range of energy and industrial applications. The MOU provides a framework by which the parties can provide modularized packaged solutions for markets that are in transition to zero-emissions and energy efficient power.