Pacific Carbon Exchange (PCarbX) was founded by Aaron Singer and Patrick Ascaso in San Francisco in 2008 to address the tremendous opportunity for California, the West, and the United States to achieve significant gains in the fight against potentially catastrophic global climate change. PCarbX will create California and the western region's first environmental commodities exchange to serve California and the Western Climate Initiative (WCI) mandatory

market for carbon trading. The Pacific Carbon Exchange trading platform will offer several asset classes for trade on our exchange, including: carbon offsets, carbon allowances, carbon futures, options, and other potential derivatives (Subject to regulatory approval by the CFTC). Additional environmental commodities such as renewable energy certificates, energy efficiency certificates, low carbon fuels certificates, biodiversity credits, and water quality instruments will also be launched on the exchange in the near future.

PCarbX believes one of the keys to our success is our key role as a public/private interface between the regulatory framework in the State of California, WCI and the private sector which will make up our member base. PCarbX monitors and maintains contact with various state agencies such as the California Air Resources Board, Cal EPA, the Public Utilities Commission, the California Energy Commission, the Western Climate Initiative, and other state agencies throughout the West. The Pacific Carbon Exchange will be an easy-to-use, secure Internet-based trading platform. PCarbX will feature a state-of-the-art trading matching engine, with intuitive front-end interfaces and trading data dashboards, enabling our members and traders to easily navigate, research, and trade the environmental commodities that will offered through our exchange.

The San Francisco Bay Area has a truly historic opportunity to take the lead on cap-and-trade by hosting the Pacific Carbon Exchange. San Francisco and the Greater Bay Area have a confluence of factors that makes our region a logical, natural, critical fit for establishing this exchange and the ensuing green and clean tech cluster that will follow.

PCarbX will begin pre-compliance trading in the coming months.