OPTION
      TO PURCHASE

    ___________________
      UNITS

    


    RENEWABLE
      ENERGY ACQUISITION CORP.

    (a
      Nevada corporation)

    


    This
      certifies that, for value received, Crusader Securities, Inc., or registered
      assigns, is entitled to purchase from Renewable Energy Acquisition Corp., a
      Nevada corporation, hereinafter referred to as the “Company,” the number of
      Units shown above (the “Units”) each Unit consisting of one share of common
      stock, par value $0.001 (“Common Stock”), and two common stock purchase warrants
      in the form attached hereto as Exhibit A (“Underwriter Warrants”). This Warrant
      may be exercised by surrendering this warrant with the purchase form attached
      hereto, duly executed, at the principal office of the Company in Plymouth,
      Minnesota, and by paying in full and in lawful money of the United States of
      America by cash or cashiers’ check, the purchase price of the Units as to which
      this option is exercised, on all the terms and conditions hereinafter set forth.
      This option is originally issued to Crusader Securities, Inc., pursuant to
      an
      underwriting agreement dated ______________, 2008 (the “Underwriting
      Agreement”), pertaining to the Company’s offer and sale of 2,000,000 Units (the
“Offering”) as described in the Company’s registration statement (SEC file No.
      333-________) and
      the
      form of the final prospectus (the “Prospectus”) dated the effective date of, and
      included in, said registration statement (or, if applicable, the form of final
      prospectus filed with the Securities and Exchange Commission pursuant to Rule
      424 of the Regulation C adopted under the Securities Act of 1933), is
      hereinafter called the “Prospectus.”

    


    1. The
      purchase price at which the Units are purchasable (hereinafter referred to
      as
      the “Unit Price”) is $6.60 per Unit. This
      option will become exercisable on the later of (a) the date of completion of
      a
      business combination with a target business as described in the Prospectus,
      or
      (b) ____________________, 2009, and will expire at 5:00 p.m., New York City
      time, on _______________, 2012.

    


    2. On
      the
      exercise of all or any portion of this option in the manner provided above,
      the
      person exercising the same shall be deemed to have become a holder of record
      of
      the Common Stock and Underwriter Warrants (or of the other securities or
      properties to which he or it is entitled on such exercise) for all purposes,
      and
      certificates for the securities so purchased shall be delivered to the purchaser
      within a reasonable time, but in no event longer than ten days after the options
      shall have been exercised as set forth above. If this option shall be exercised
      in respect to only a part of the Units covered hereby, the holder shall be
      entitled to receive a similar option of like tenor and date covering the number
      of with respect to which this option shall not have been exercised.


    


    3. This
      option is exchangeable, on the surrender hereof by the holder at the office
      of
      the Company, for new options of like tenor and date representing in the
      aggregate the right to subscribe for and purchase the number of Units which
      may
      be subscribed for and purchased hereunder.

    


    4. The
      Company covenants and agrees that the Units that may be issued on the exercise
      of the rights represented by this option will, on issuance, be fully paid and
      non-assessable, and free from all taxes, liens, and charges with respect to
      the
      issue thereof. The Company covenants and agrees that during the period within
      which the rights represented by this option may be exercised, the Company will
      have authorized and reserved a sufficient number of shares of Common Stock
      to
      provide for the exercise of the rights represented hereby.

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    


    5. The
      Unit
      Price and number of Units purchasable pursuant to this option may be subject
      to
      adjustment from time to time as follows: 

    


    (a) If
      the
      Company shall take a record of the holders of its Common Stock for the purpose
      of entitling them to receive a dividend in shares, the Unit Price in effect
      immediately prior to such record date shall be proportionately decreased and
      the
      number of Units purchasable proportionately increased, such adjustment to become
      effective immediately after the opening of business on the day following such
      record date. 

    


    (b) If
      the
      Company shall subdivide the outstanding shares of Common Stock into a greater
      number of shares, combine the outstanding shares of Common Stock into a smaller
      number of shares, or issue by reclassification any of its shares, the Unit
      Price
      in effect and the number of Units purchasable immediately prior thereto shall
      be
      adjusted so that the holder of the option or Underwriter Warrant thereafter
      surrendered for exercise shall be entitled to receive, after the occurrence
      of
      any of the events described, the number of shares of Common Stock and
      Underwriter Warrants to which the holder would have been entitled had such
      option been exercised immediately prior to the occurrence of such event. Such
      adjustment shall become effective immediately after the opening of business
      on
      the day following the date on which such subdivision, combination, or
      reclassification, as the case may be, becomes effective. 

    


    (c) If
      any
      capital reorganization or reclassification of the Company’s Common Stock, or
      consolidation or merger of the Company with another corporation or the sale
      of
      all or substantially all of its assets to another corporation shall be effected
      in such a way that holders of Common Stock shall be entitled to receive stock,
      securities, or assets with respect to or in exchange for Common Stock, then,
      as
      a condition of such reorganization, reclassification, consolidation, merger,
      or
      sale, lawful adequate provisions shall be made whereby the holder of this option
      shall thereafter have the right to acquire and receive on exercise hereof and
      thereof such shares of stock, securities, or assets as would have been issuable
      or payable (as part of the reorganization, reclassification, consolidation,
      merger, or sale) with respect to or in exchange for such number of outstanding
      shares of the Company’s Common Stock as would have been received on exercise of
      this option immediately before such reorganization, reclassification,
      consolidation, merger, or sale. In any such case, appropriate provision shall
      be
      made with respect to the rights and interests of the holder of this option
      to
      the end that the provisions hereof shall thereafter be applicable in relation
      to
      any shares of stock, securities, or assets thereafter deliverable on the
      exercise thereof. In the event of a merger or consolidation of the Company
      with
      or into another corporation or the sale of all or substantially all of its
      assets as a result of which a number of shares of common stock of the surviving
      or purchasing corporation greater or less than the number of shares of Common
      Stock of the Company outstanding immediately prior to such merger,
      consolidation, or purchase are issuable to holders of Common Stock of the
      Company, then the Unit Price in effect and the number of Units purchasable
      immediately prior to such merger, consolidation, or purchase shall be adjusted
      in the same manner as through there was a subdivision or combination of the
      outstanding shares of Common Stock of the Company. The Company will not effect
      any such consolidation, merger, or sale unless prior to the consummation thereof
      the successor corporation resulting from such consolidation or merger or the
      corporation purchasing such assets shall assume by written instrument mailed
      or
      delivered to the holder hereof at its last address appearing on the books of
      the
      Company, the obligation to deliver to such holder such shares of stock,
      securities, or assets as, in accordance with the foregoing provisions, such
      holder may be entitled to acquire on exercise of this option.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    


    (d) No
      fraction of a Unit or share shall be issued on exercise, but, in lieu thereof,
      the Company, notwithstanding any other provision hereof, may pay therefor in
      cash at the fair value of any such fractional Unit or share at the time of
      exercise. 

    


    (e) Neither
      the purchase or other acquisition by the Company of any shares of Common Stock
      nor the sale or other disposition by the Company of any shares of Common Stock
      shall affect any adjustment of the Unit Price or the number of Units purchasable
      hereunder, or be taken into account in computing any subsequent adjustment
      of
      the Unit Price or number of Units purchasable hereunder. 

    


    6. Until
      ________________________, 2009 (one year following the effective date of the
      Offering), this option shall not be transferable or assignable except to
      officers of Crusader Securities, Inc., or officers of other underwriters or
      dealers participating in the Offering or by will, trust, or the laws of descent.
      Subject to the foregoing restrictions and the restrictions set forth in
      paragraph 7 hereof, this option is transferable at the offices of the Company.
      On such transfer, every holder hereof agrees that the Company may deem and
      treat
      the registered holder of this option as the true and lawful owner thereof for
      all purposes, and the Company shall not be affected by any notice to the
      contrary. 

    


    7. This
      option, the Units, and the securities underlying the Units have been registered
      under the Securities Act of 1933, as amended (the “Securities Act”), on Form
      SB-2 (the “Registration Statement”). 

    


    (a) On
      exercise, in part or in whole, of this option, the securities shall bear the
      following legend: 

    


    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE
      SECURITIES ACT SOLELY FOR SALE TO THE HOLDER OF AN OPTION TO PURCHASE, WHICH
      HOLDER MAY BE DEEMED TO BE AN UNDERWRITER OF SUCH SECURITIES WITHIN THE
      PROVISIONS AND FOR THE PURPOSES ONLY OF THE SECURITIES ACT. THE ISSUER OF THESE
      SECURITIES WILL AGREE TO A TRANSFER HEREOF ONLY IF (1) AN AMENDED OR
      SUPPLEMENTED PROSPECTUS SETTING FORTH THE TERMS OF THE OFFER HAS BEEN FILED
      AS
      PART OF A POST-EFFECTIVE AMENDMENT TO THE REGISTRATION STATEMENT OR AS PART
      OF A
      NEW REGISTRATION STATEMENT, IF THEN REQUIRED, AND SUCH POST-EFFECTIVE AMENDMENT
      OR NEW REGISTRATION STATEMENT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT,
      OR
      (2) COUNSEL TO THE ISSUER IS SATISFIED THAT NO SUCH POST-EFFECTIVE AMENDMENT
      OR
      NEW REGISTRATION STATEMENT IS REQUIRED. 

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    


    (b) The
      Company agrees that it shall be satisfied that no post-effective amendment
      or
      new registration is required for the public sale of the securities if it shall
      be presented with a letter from the staff of the Securities and Exchange
      Commission (the “Commission”) stating in effect that, based on stated facts
      which the Company shall have no reason to believe are not true in any material
      respect, the staff will not recommend any action to the Commission if such
      securities are offered and sold without delivery of a prospectus and that,
      therefore, no post-effective amendment to the Registration Statement or a new
      registration statement is required to be filed. 

    


    8. The
      Company agrees to register or qualify the Common Stock included in the Units
      for
      resale as follows: 

    


    (a) If,
      at
      any time during the period in which the rights represented by this option are
      exercisable, the Company shall receive a written request from the holders of
      Units issued on exercise of this option or holders of the right to acquire
      Units
      covered by this option who own or may acquire (on a combined basis) at least
      50%
      of the total number of Units covered by this option on its original date of
      issuance that the Company file a registration statement, post-effective
      amendment, or other appropriate form under the Securities Act covering resale
      of
      the Common Stock, then the Company shall within ten days after the receipt
      thereof, give written notice of such request to all holders of options and
      Units
      and shall use its best efforts, subject to the limitations of this paragraph,
      to
      effect as soon as possible the required filing under the Securities Act to
      permit resale of all Common Stock included in the Units that the holders request
      to be registered within 90 days of the mailing of the registration notice by
      the
      Company to the holders of options and Units. If the holders initiating the
      registration request hereunder (the "Initiating Holders"), intend to distribute
      the Common Stock covered by their request by means of an underwriting, they
      shall so advise the Company as part of their request made pursuant to this
      paragraph, and the Company shall include such information in the written
      registration notice to all holders referred to in this paragraph. The
      underwriter shall be selected by the Company and shall be reasonably acceptable
      to a majority in interest of the Initiating Holders. In such event, the right
      of
      any holder to include the Common Stock in such registration shall be conditioned
      upon such holder's participation in such underwriting and the inclusion of
      such
      holder's Common Stock in the underwriting (unless otherwise mutually agreed
      by a
      majority in interest of the Initiating Holders and such holder), to the extent
      provided herein. All holders proposing to distribute their securities through
      such underwriting shall enter into an underwriting agreement in customary form
      with the underwriter or underwriters selected for such underwriting by the
      Company. Notwithstanding any other provision of this paragraph, if the
      underwriters advise the Initiating Holders in writing that marketing factors
      require a limitation of the number of shares to be underwritten, then the
      Initiating Holders shall so advise all holders of options and Units that would
      otherwise be underwritten pursuant hereto, and the number of shares of Common
      Stock that may be included in the underwriting shall be prorated among all
      holders thereof, including the Initiating Holders. The Company is obligated
      to
      effect only one such registration pursuant to this paragraph.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    


    (b) If,
      at
      any time during the period in which the rights represented by this option are
      exercisable the Company proposes to file a registration statement or
      notification under the Securities Act for the primary or secondary sale of
      any
      debt or equity security, it will give written notice at least 30 days prior
      to
      the filing of such registration statement or notification to Crusader
      Securities, Inc., and to all other holders of the options or the holders of
      the
      Units issued on exercise of this option of its intention to do so. The Company
      agrees that on written notice to it from the holders of the options or Units
      within 20 days after receipt of such notice from the Company of its or their
      desire to include the Common Stock included in the Units in such proposed
      registration statement or notification, the Company shall afford the holders
      of
      such options and/or Units the opportunity to have the Common Stock included
      therein. Notwithstanding the provisions of this paragraph 8(b), the Company
      shall have the right, at any time after it shall give written notice pursuant
      to
      this paragraph (irrespective of whether a written request for inclusion of
      the
      Common Stock shall be made) to elect not to file any such proposed registration
      statement or notification or to withdraw the same after the filing but prior
      to
      the effective date thereof. In no event shall the Company be obligated to
      include the Common Stock in any registration statement or notification under
      this paragraph 8(b) if, in the written opinion of two investment banking firms
      which are member firms of the Financial Industry Regulatory Authority, and
      not
      affiliated with the Company, the inclusion of the Common Stock in such
      registration statement or notification would be materially detrimental to the
      proposed offering of debt or equity securities pursuant to which the Company
      gave notice to the holders under this paragraph. 

    


    (c) In
      connection with the filing of a registration statement, notification, or
      post-effective amendment under this section, the Company covenants and agrees:
      

    


    
      
        (i)
          to
          pay
          all expenses of such registration statement, notification, or post-effective
          amendment, including, without limitation, printing charges, legal fees
          and
          disbursements of counsel for the Company, blue sky expenses, accounting
          fees,
          and filing fees, but, not including, legal fees and disbursements of counsel
          to
          the holders and any sales commissions on Common Stock offered and
          sold;

      

    

    


    
      
        (ii)
          to
          take
          all necessary action which may be required in qualifying or registering
          the
          Common Stock included in a registration statement, notification, or
          post-effective amendment for the offer and sale under the securities or
          blue sky
          laws of such states as requested by the holders; provided,
          that
          the Company shall not be obligated to execute or file any general consent
          to
          service of process or to qualify as a foreign corporation to do business
          under
          the laws of any such jurisdiction; and

      

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      
        (iii)
          to
          utilize its best efforts to keep the same effective for a period of not
          less
          than 90 nor more than 120 days.

      

    

    


    (d) The
      holders of the options and Units shall cooperate with the Company and shall
      furnish such information as the Company may request in connection with any
      such
      registration statement, notification, or post-effective amendment hereunder,
      on
      which the Company shall be entitled to rely, and such holders of options and
      Units shall indemnify and save harmless the Company (and all other persons
      who
      may be subject to liability under the Securities Act or otherwise) from and
      against any and all claims, actions, suits, liabilities, losses, damages, and
      expenses of every nature and character (including, but not by way of limitation,
      all reasonable attorneys' fees and all amounts paid in settlement of any claim,
      action, or suit) that arise or result directly or indirectly from any untrue
      statement of a material fact furnished by such holder(s) in connection with
      such
      registration or qualification, or from the failure of the holders of the options
      or Units to furnish material information in connection with the facts required
      to be included in such registration statement, notification, or post-effective
      amendment necessary to make the statements therein not misleading, or from
      any
      sales or offers of the Common Stock so registered after 90 days from the
      effective date of such registration statement or notification, all to the same
      effect as the provisions pursuant to which indemnification is provided in the
      Underwriting Agreement between the Company and Crusader Securities,
      Inc.

    


    9. As
      used
      herein, the term “Common Stock” shall mean and include the Company’s Common
      Stock authorized on the date of the original issue of this option, and shall
      also include any capital stock of any class of the Company thereafter authorized
      that shall not be limited to a fixed sum or percentage in respect of the rights
      of the holders thereof to participate in dividends and in the distribution
      of
      assets on the voluntary or involuntary liquidation, dissolution, or winding
      up
      of the Company; provided,
      that
      the Units purchasable pursuant to this option shall include only shares of
      the
      class designated in the Company’s articles of incorporation as Common Stock on
      the date of the original issue of this option or, in the case of any
      reorganization, reclassification, consolidation, merger, or sale of assets
      of
      the character referred to in paragraph 5(c) hereof, the stocks, securities,
      or
      assets provided for in such paragraph.

    


    10. This
      agreement shall be construed under and be governed by the laws of the state
      of
      Nevada. 

    


    11. Any
      notices required or permitted hereunder shall be sufficiently given if delivered
      by hand or sent by registered or certified mail, postage prepaid, addressed
      as
      follows: 

    


    If
      to
      Crusader Securities, Inc.,
      to:                   
 Crusader
      Securities, LLC 

    230
      Park
      Avenue, Suite 1000

    New
      York,
      NY 10169

    Attn:
      Blair West, Managing Director

    



    
      
         

      

      
        6

        
          

        

      

      
         

      

    


    If
      to the
      Company, to:   Renewable
      Energy Acquisition Corp.

    7078
      East
      Fish Lake Road, Suite 800

    Minneapolis,
      MN 55311

    Attn:
      Craig Laughlin, President

    


    or
      such
      other address as shall be furnished in writing by any party to the other, and
      any such notice or communication shall be deemed to have been given as of the
      date so delivered or three days after being so deposited in the mails.


    


    DATED
      this _______ day of _________________________________, 2008.

    
      	 	 	 
	 	RENEWABLE
              ENERGY
              ACQUISITION CORP.
	 
 	 
 	 
 
	
            	By:  	 
	 	
              
Craig
              Laughlin, President
	 	
            


    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    


    Form
      of
      Purchase

     

    (to
      be
      signed only upon exercise of option)

     

    TO:
      RENEWABLE ENERGY ACQUISITION CORP.

    


    


    The
      undersigned, the owner of the attached option, hereby irrevocable elects to
      exercise the purchase rights represented by the option for, and to purchase
      thereunder, _____________ Units of Renewable Energy Acquisition Corp., and
      herewith makes payment of _______ therefor, and requests that the certificate(s)
      for such shares be delivered to _____________________________ at
      ________________________________, and if such shall not be all of the Units
      purchasable hereunder, that a new option of like tenor for the balance of the
      Units purchasable under the attached option be delivered to the undersigned.
      

    


    DATED
      this ______ day of ____________________________ 20_____.

    
      	 	 	 
	 	
            
	 
 	 
 	 
 
	
            	 	 
	 	
              

              Signature

            
	 	
            


    

    


    
      
         

      

      
        8