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STEGSSolar thermal energy generation and storage

Always on.
Always clean.

Q2/Q3 2026

Executive Chairman Pierre Koshakji pierre@evmg.energy · 214.392.7472
Chief Executive Officer Christopher Davey chris@evmg.energy · 917.238.0548
Entity EnviroMission Group LLC Jenks, Oklahoma
EVMG — Always On. Always Clean. 02 / 26
01The opportunity

Firm renewable power. Around the clock.

Demand is doubling by 2050. Gas generation is meeting the shortfall renewables cannot supply.

No commercial technology delivers clean firm power 24/7.

Cost / MWh · 24/7 firm < $20 vs. $35+ gas · $60+ PV+BESS.
Annual capacity factor >90% Thermodynamically modeled. Confirmation 2027/2028.
Storage duration 48+ hr No batteries required.
Asset life 40+ yr vs. 25 yr utility-scale PV.
EVMG · STEGS Strictly confidential · EVMG Q2/Q3 2026
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02The problem

Solar only works when the sun shines.

Solar and wind generate only when the weather cooperates. Storage at scale is capped near 4 hours. Gas fills every shortfall today.

The energy transition has a missing piece.

Capacity gap by 2050 20,000 GW New global capacity needed.
Data centers by 2034 200 GW Requires 24/7 power.
Gas retiring by 2050 900 GW No clean replacement.
IEA World Energy Outlook · EIA Energy Outlook (Jan 2025) Strictly confidential · EVMG Q2/Q3 2026
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02 · BWhy current solutions fail

Every other path has limitations.

PV + Wind

Intermittent by physics

  • Generates only when sun shines or wind blows
  • Backed by gas or batteries to firm
  • Battery storage capped near 4 hours at scale
  • Rare earths and Chinese supply chains
Natural gas

Firm but high carbon

  • Carries combustion emissions
  • Fuel price volatility
  • Pipeline infrastructure required
  • 900 GW retiring globally by 2050
Nuclear · SMR

Decades from scale

  • Regulatory and permitting timelines
  • High capital cost per MW
  • Public opposition in many markets
  • Limited siting flexibility

No commercially available technology delivers clean firm power around the clock today.

The competitive landscape Strictly confidential · EVMG Q2/Q3 2026
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03The solution

STEGS.
A new category of power.

EVMG's patent-pending Solar Thermal Energy Generation & Storage System is the first commercially viable firm and dispatchable renewable power platform, built on three integrated innovations that combine proven thermodynamics with proprietary materials science. STEGS was designed to solve all the problems in the current energy landscape.

01 · Collector

Proprietary STEGS Collector

Reaches up to 320 °C+ and captures the full solar spectrum. Optimized by AI-integrated DOVET thermodynamic modeling.

02 · Storage

STEGS Thermal Block

Holds 48+ hours of heat. Lab-validated at 400 °C in 2025 for thermal conductivity and structural integrity. Modular and expandable for generation or capacity.

03 · Power unit

ORC (Organic Rankine Cycle) turbine

Standard ORC turbines. Constant temperature and flow. Bankable, proven equipment. Zero fuel cost.

Three pillars · one closed-loop system Strictly confidential · EVMG Q2/Q3 2026
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03 · BHow it works

Capture. Store. Generate. Dispatch.

TURBINE GENERATOR POWER
01 · Collect

Solar collector

Flat-panel collector captures heat across the full spectrum. Up to 320 °C+ operating temperature.

02 · Store

Thermal block

Heat stored in concrete co-engineered with CEMEX. 48+ hours. Modular and expandable.

03 · Generate

Power unit

Stored heat drives a commercial ORC turbine generator. Firm electricity to the grid, 24/7.

04 · Dispatch

Contracted load

Dispatchable electricity serves contracted load: on demand, load-following, always available.

Closed-loop · low pressure · 40+ year design life Strictly confidential · EVMG Q2/Q3 2026
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04Technology

Three innovations creating the patent-pending STEGS System.

Solar capture, concrete thermal storage, and commercial ORC generation integrated into a single closed-loop system. Proprietary Solar Collector utilizes the entire band of solar energy as compared to PV that uses less than half. Twenty years of materials and modeling work behind them.

01 · Collector

Proprietary flat-panel solar collector

Selective absorber surface captures the full solar spectrum and transmits heat into the closed loop. No mirrors, no concentrators, no rare earths.

Operating temp
< 320 °C
Efficiency vs PV
Spectrum
Full-spectrum
Rare earths
None
02 · Storage block

Proprietary thermal storage media

Concrete co-developed with CEMEX captures heat for 48+ hours. Charges and discharges without degradation. Capacity scales by stacking blocks.

Storage duration
48+ hr
Validated
400 °C, 2025
Capital cost / MWh
< $10k
Modularity
Expandable
03 · Power unit

Organic Rankine Cycle

Off-shelf ORC turbine generators convert stored heat to firm electricity. Lower pressure and temperature than combustion turbines — longer life, lower O&M.

Operation
Constant flow + temp
Fuel cost
$0
O&M
< $2/MWh
Components
Commercial off-shelf
DOVET AI model · CEMEX concrete validated 2025 · Patents filed January 2026 Strictly confidential · EVMG Q2/Q3 2026
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04 · ATechnology deep dive · Collector

The STEGS Collector.

Enhanced by DOVET. EVMG has engineered a unique flat-panel solar collector that combines cutting-edge materials with proprietary transmissive, insulative, and loss-mitigation properties. Unlike conventional PV, the STEGS Collector achieves and sustains temperatures of up to 320 °C. Four times more efficient at capturing solar energy than PV alone.

Temperature < 320 °C Sustained operating temperature.
Efficiency vs PV 4× More energy per MW installed.
Solar spectrum Full Selective surface captures all wavelengths.
Materials No exotics No rare earths. Western supply chain.

Optimized by AI-integrated DOVET thermodynamic model. Patent-pending STEGS System.

Collector deep dive Strictly confidential · EVMG Q2/Q3 2026
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04 · BTechnology deep dive · Storage block

STEGS Storage Block.

Proprietary thermally conductive concrete, co-engineered with CEMEX. Captures heat for 48+ hours. Charges and discharges without degradation. Independently lab-validated at 400 °C in 2025 for thermal conductivity and structural integrity. Stable through repeated thermal cycling.

Storage duration 48+ hr No batteries needed.
Validated 400 °C CEMEX lab, 2025.
Capital cost / MWh < $10k vs. $200k–$400k for Li-ion.
Scaling Modular Capacity scales by stacking blocks.

Proprietary STEGS Storage Block. Patent-pending STEGS System.

Storage block deep dive Strictly confidential · EVMG Q2/Q3 2026
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04 · CTechnology deep dive · Power unit

STEGS Power Unit.

Off-shelf ORC turbine generators convert stored heat to firm electricity. Constant temperature and flow. Lower pressure than combustion turbines extends equipment life and reduces O&M.

Organic Rankine Cycle · explained
  • Thermodynamic cycle that uses heated water to create steam to drive a turbine generator.
  • Water-based Rankine Cycle provides approximately 85% of worldwide electricity production.
  • ORC variant uses an innovative closed thermodynamic cycle to produce electric and thermal power.
  • ORC systems operate at lower temperatures, drawing from biomass, geothermal, and some fossil fuels.

Perfectly suited for the STEGS System.

Specifications
Operation
Constant flow + temp
Fuel cost
$0
O&M
< $2/MWh
Equipment
Off-the-shelf
Vendors
Exergy, Ormat, Turboden
Exotic components
None
Power unit deep dive Strictly confidential · EVMG Q2/Q3 2026
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05 · DThe AI platform

A digital twin for every plant.

Baikery is EVMG's exclusive technology partner. Its digital twin platform, doobls, powers engineering, operations, and communications from a single project-aware knowledge base.

01 · Engineering

Plant-scale digital twin

End-to-end physics of collector, storage, ORC, and heat-transfer loop. Site-configurable under real weather. Decision agents return site viability and the cost-optimal configuration that meets spec.

02 · Operations

Project-aware agents

Agents extend the simulation itself: scaffolding, tests, CI/CD, automated review. A research agent ingests academic, supplier, and competitor work. Document generation produces investor, client, and policy outputs from the same source.

03 · Communications

Brand, web, and documents

Website with AI-generated frontend and embedded explainer agents. Brand identity, narrative, and visual system. Animated brand video. Audience-tailored decks generated on demand.

doobls platform · built by Baikery Strictly confidential · EVMG Q2/Q3 2026
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05 · ABenchmark

STEGS is the first commercially viable firm renewable baseload platform.

Metric
STEGS
Gas CC
PV + Storage
Wind + Storage
Firm 24/7 dispatch
100% renewable
No fuel cost exposure
No rare earths
Cost-advantage
Qualitative comparison of leading power generation options Strictly confidential · EVMG Q2/Q3 2026
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05Competitive position

Lowest delivered cost. By a wide margin.

STEGS firm renewable dispatch at half the cost of gas combined cycle. A third the cost of PV plus battery storage.

Metric
STEGS
Gas CC
PV + BESS
Wind + BESS
Cost / MWh · 24/7 firm
< $20
~ $35
~ $60
~ $45
CAPEX · per load requirement
~ $2M
~ $1.5M
~ $5M
~ $5M
Land use · acres / TW
~ 570
~ 35
~ 1,500
~ 1,300
Storage cost / MWh
< $10k
n/a
~ $600k
~ $600k
% Renewable
100%
0%
43%
62%
Firm 24/7 dispatch
Zero emissions
40-year LCOE · 2025 EIA reference · STEGS modeling, confirmation at first commercial demonstration Strictly confidential · EVMG Q2/Q3 2026
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05 · Bvs. utility PV

~4× more energy per MW than PV.

Same nameplate. Firm output. Round-the-clock delivery. Storage is more than 20× less expensive than lithium-ion battery storage, with 5× the life expectancy.

Metric
STEGS
Utility-scale PV
Annual capacity factor
>90%
<25%
Annual MWh per MW installed
>8,000
<2,200
MWh per acre
3,507
545
Footprint per MW
3 ac
5–6 ac
Storage cost per MWh
< $10k
$200–400k
Firm 24/7 generation
Yes
No
2025 EIA reference · STEGS modeling · Performance pending Commercial Confirmation Strictly confidential · EVMG Q2/Q3 2026
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05 · CThe journey

Two decades of R&D led here.

Industry leader in solar thermal energy with decades of experience. Two prior generations of utility-scale solar thermal plant. AI-driven thermodynamic modeling. The breakthrough that eliminated the tower and made the system modular.

Generation 1

Solar Tower V1

200 MW · 1,000 m · 8,000 acres

2% solar efficiency. Proof of concept. Scale was the challenge.

The breakthrough

DOVET

Dynamic Optimization Verification & Engineering Tool

Dynamic optimization. Re-engineered the approach. Eliminated the tower.

Generation 2

Solar Tower V2

200 MW · 600 m · 4,000 acres

5% efficiency. Major gains, still required massive infrastructure.

STEGS, the breakthrough

STEGS

1–100+ MW · 2 acres / MW

25%+ efficiency. Modular. No tower. The breakthrough.

From scale to modular Strictly confidential · EVMG Q2/Q3 2026
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06Markets · sizing

The global solar belt.

STEGS is optimized for geographic areas with high sustained solar: an 8,000 km band on either side of the equator where 75% of the world's population lives and 80%+ of power is consumed.

US capacity, next decade
1.7M MW
US target states
16
International, next decade
4.5M MW
Renewable share of pipeline
88–90%
EVMG share of pipeline
5%
Status
Generation Commences 2028
Sources · 1.7M MW: 16-state US pipeline next decade · 4.5M MW: international pipeline Strictly confidential · EVMG Q2/Q3 2026
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06 · BMarkets · buyers

Built for the loads that never turn off.

01 · Data centers

Firm 24/7 power

200,000 MW of new generation needed in the US over the next decade.

02 · Industrial & mining

Firm 24/7 power

Manufacturers, miners, and processors requiring firm 24/7 power.

03 · Utilities

Load growth

Replacing decommissioned plants; serving load growth.

04 · Crypto mining

ERCOT pipeline

4,100 MW of new capacity requested in ERCOT (Texas) alone.

05 · Merchant power

Wholesale markets

Independent producers in wholesale electricity markets.

06 · Eco-developments

Green master plan communities

A true green solution for green developments.

Six core buyer groups · STEGS deployable across all Strictly confidential · EVMG Q2/Q3 2026
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07First project · Texas

A 105 MW data-center site.

Two phases on the same footprint. Phase 1 commercial demonstration in 2028. Phase 2 expansion immediately after.

Phase 1 · Pilot · 2027/2028 15 MW
Annual production
> 120,000 MWh
CapEx
$50M
Annual revenue
~$7.2M
Annual OpEx
~$1.7M
Payback
6 yr
Phase 2 · Commercial 90 MW
Annual production
> 725,000 MWh
CapEx
$250M
Equity required
~$62.5M
Annual return
>14%*
Payback
4 yr
Internal modeling · PPA in negotiation · Before escalators, RECs, tax benefits · *14% return pending Phase 1 operations Strictly confidential · EVMG Q2/Q3 2026
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08Commercialization

Global rollout roadmap.

2025 Technology validation

Storage mix tested by CEMEX, stable at 400 °C. Solar Collector patent drafted. System design finalized.

2026 Lab testing + PPA

Solar collector in solar simulator at highly regarded independent test laboratory. Proprietary thermal storage testing and optimization by material science leaders at prestigious University. PPA for Phase 1 Texas data center in active negotiation.

2027 Phase 1 construction

15 MW commercial demonstration plant in Texas. Contracted data center load.

2028 Commercial operation + Phase 2

Phase 1 COD. Load-serving commercial operation. Phase 2 (90 MW) construction begins at same site.

2030–2035 International + scale

Licensing across the global solar belt. 6,500+ MW globally by 2035; revenue exceeding $6B annually.

First commercial dispatch in 2028. Phase 2 expansion immediately after.

Commercialization · lab to grid Strictly confidential · EVMG Q2/Q3 2026
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09Financial projections

Financial projections.

Zero fuel cost. Long asset life. Operating margin scales with capacity.

Revenue · year 3 $60M Phase 1 online.
Revenue · year 10 $6B+ Global rollout.
EBITDA at scale 50%+ No fuel, low O&M.
Project IRR 50%+ Firm capacity scenario.
Plant CF 90%+ Modeled.
Avg PPA $75/MWh Long-tenor offtake. Below market price today.
Net op margin 90%+ Zero fuel cost.
MWh / MW / yr 8,000+ vs. ~2,200 PV.
$75/MWh contracted · O&M escalated 3%/yr · No tax credits or RECs assumed · ROI varies by capital structure Strictly confidential · EVMG Q2/Q3 2026
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09 · BCapacity growth

From 15 MW to more than 18,500 MW by 2041.

2030 1,000+ MW

In construction or operation across pilot markets.

2035 6,500+ MW

Global installed capacity. Active states US + international.

2040 14,500+ MW

US and international, full solar belt deployment.

Approximately $6.5B of equity required to deliver more than 18,500 MW by 2041. Revenue scales from $60M in year 3 to more than $10B annually at full deployment.

Net operating margin projected at 90%+ with no fuel cost and low O&M Strictly confidential · EVMG Q2/Q3 2026
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10The ask

$1B+

Milestone-gated capital plan.

Capital deployed in four phases. Each tranche unlocks the next stage of commercialization.

Phase 1 · Independent testing $1M

Thermal block validation. Independent engineering review.

Trigger
ASAP
Phase 2 · Texas 1 · COD $50M

Engineer, permit, and construct STEGS commercial demonstration.

Trigger
On milestone
Phase 3 · Texas 2 · COD $250M

Engineer and construct Texas 2. 90 MW expansion on same site.

Trigger
On Phase 2 COD
Phase 4 · Roll-out $1B+

Commercial roll-out across the global solar belt.

Trigger
2030+
Portion may qualify for federal tax credits. No subsidies assumed in projections. Strictly confidential · EVMG Q2/Q3 2026
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11De-risking

Test, validate, build, scale.

Phase 1 · Collector

Solar simulator validation

Validate DOVET thermodynamic model. Test selective surface and transmissive insulative materials.

Phase 2 · Storage block

Independent lab cycling

Thermal cycling at 300+ °C. Confirm conductivity and structural integrity. Verify storage capacity matches model.

Phase 3 · Integrated field

Full-system trial

Simulate commercial operating profiles. Confirm heat transfer and storage match proprietary modeling.

Intellectual property

Patent and trade-secret stack

  • 20-year investment in thermal energy generation and storage
  • Industry leader in thermal generation
  • Patent application filed January 2026, encompassing two provisionals
  • STEGS Solar Collector patent drafted
  • Enhanced thermal storage mix for global roll-out
  • Proprietary selective surface and transmissive insulative materials
  • Proprietary concrete formulation co-developed with CEMEX
  • Multiple trade secrets and materials formulations under NDA
  • DOVET AI thermodynamic model ported to Python for ongoing optimization
  • 20+ years of accumulated R&D · barriers to entry
  • Future IP strategy guided by counsel: patent vs. trade secret

Proprietary concrete co-developed with CEMEX. Independently tested in 2025; met all thermodynamic specifications.

De-risking · validation · IP Strictly confidential · EVMG Q2/Q3 2026
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12Team

Operators. Engineers. Capital.

Executive Chairman Pierre Koshakji

Co-founder, Stream Energy (acquired by NRG, 2019). Chairman, National Energy Marketers Association. 20+ years in energy.

Chief Executive Officer Christopher Davey

Co-founder, EnviroMission. Former Co-Executive Director, Arizona Energy Consortium. Development and cleantech specialist.

Director · Financial Advisor J. Donald Porter

40+ years investment banking for utilities and governments in public and private capital markets.

VP Engineering · P.E. Valerie Schafer

40+ years energy sector. Chemical engineering. Technical Advisor to EnviroMission for five years.

R&D Engineering Lead Mehmet Oezcan

Mechanical Engineering, M.S. Sustainable Energy. Specialist in computational fluid dynamics and thermodynamics.

Strategy & Risk Advisor Bryan Pregler

20+ years energy industry. KPMG strategic consulting for the world's largest energy companies.

Leadership Strictly confidential · EVMG Q2/Q3 2026
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12 · AAdvisors & partners

Backed by world-class engineers, operators, and advisors.

Engineering HDR
Construction DPR
Project management Currie & Brown
AI Baikery
Advisory board
Materials science

Prof. Konrad Krakowiak

MIT / University of Houston. Materials science and thermal cycling.

Thermodynamics

Prof. Franklin Miller

University of Wisconsin · James Webb Space Telescope co-inventor.

AI & engineering

Vincent Higgins

CEO of Rugged Edge AI. Builds ruggedized edge-computing and AI systems for industrial and energy infrastructure deployed in harsh field environments.

Risk & insurance

Marshall Nadel

Risk and insurance specialist for large-scale energy infrastructure.

100% Western supply chain · engineering bench Strictly confidential · EVMG Q2/Q3 2026
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Always on.
Always clean.

Solar thermal energy generation and storage

Executive Chairman
Pierre Koshakji
pierre@evmg.energy · 214.392.7472
Chief Executive Officer
Christopher Davey
chris@evmg.energy · 917.238.0548
EnviroMission Group LLC · Jenks, Oklahoma Strictly confidential