LowEmissionAsphalt-136pg-WhitePaper-May2023

P a g e | 122 A single mile of TiO 2 enhanced pavement is “valued” at the same carbon reduction capacity of a 15-acre forest 253 254 and can offset the annual pollution of hundreds of automobiles and trucks or ~4,000 tons of carbon equivalents annually. 255 256 Applying current market rates for carbon, 257 which are far below the low-end Paris Agreement 2030 necessary pricing estimates, a mile of PlusTi TM enhanced roadway has a ten-year CO 2 e NPV of over $275,000 which is eight-times the current estimated capital cost of the upgrade. Table 18 – Tree Equivalence of a Photocatalytic Surface Source: HeidelbergCement Group Table 19 – Car Equivalence of a Photocatalytic Surface Source: HeidelbergCement Group As the market for carbon offsets and certificates matures, we would anticipate values rising materially. For paving industry participants, now might be a suitable time to develop and secure forward agreements for use phase carbon abatement technologies. A PlusTi TM GHG removal breakdown on AC surface courses is found in (Table 20) and part of a PCC discussion on Page 131 in (Table 24) . 253 Nowak D, U.S. Forestry Service: Air Pollution Removal Capacity of Urban Forests . 254 e quivalent removal factor (EFR) between an urban tree and a photocatalytic surface, HeidelbergCement Group. 255 Tailpipe emissions only - EPA: average automobile annual CO2e; Texas A&M Transportation Institute PlusTi TM analysis (see - Table 12). 256 25,000 AADT or “medium-high volume” traffic road. 257 World Bank carbon market analysis LTM avg “removals” $15 a ton; BlackwallPartners LLC.

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