MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding (MOU) is entered into as of June 22, 2001 by RENTECH, INC., a
Colorado corporation, with headquarters at 1331 - 17th Street, Suite 720, Denver, Colorado 80202 (Rentech)
and GTL BOLIVIA S.A., a Bolivian corporation, with headquarters at Santa Cruz, Bolivia (GTL Bolivia).
A. GTL Bolivia is principally engaged in the development of one or more GTL facilities in the country of Bolivia.
The GTL facilities will use natural gas to produce GTL products for use in the country and export.
B. Rentech has developed a synthesis gas-to-liquids process incorporating Fischer- Tropsch Technology with a
slurry reaction bed and use of Rentech?s iron-based catalyst (GTL Technology). The GTL Technology is useful
for converting carbon-bearing solids and gases into various liquid hydrocarbons such as synthetic diesel fuel,
naphtha, wax and other liquid hydrocarbon products.
C. Rentech has previously licensed use of its GTL Technology to other corporations Rentech is willing to license
its GTL Technology to GTL Bolivia for use in plants that GTL Bolivia, alone or with partners, may construct and
operate to convert some of GTL Bolivia?s natural gas reserves, whether now owned or subsequently acquired,
into liquid hydrocarbon products, as well as for use in industrial gas plants that GTL Bolivia may acquire and
convert to use Rentech?s GTL Technology.
D. Rentech and GTL Bolivia intend to enter into a strategic alliance for these purposes.
Now, therefore, in consideration of the background circumstances and the following mutual agreements, the
parties agree as follows:
1. Negotiations of License. Rentech agrees to enter into discussions with GTL Bolivia with the objective of
granting one or more licenses to GTL Bolivia that allows it to use Rentech?s GTL Technology in plants
developed by GTL Bolivia for conversion of natural gas into liquid hydrocarbons, or in industrial gas plants, or in
existing industrial plant