commercial opportunities biomass to renewable chemicals
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© Green Biologics Inc. 2012 Private and Confidential
Contact:joel.stone@greenbiologics.com
National ConferenceOctober 3, 2012
Commercial Opportunities Biomass to Renewable Chemicals
© Green Biologics Inc. 2012 Private and Confidential 2
© Green Biologics Inc. 2012
Chemical Markets: Global Growth
• Fundamental shift in production economics of petrochemicals
• Volatile oil markets• Shale gas cracking
• Strong global demand for renewable chemicals
• Supply side economics• Reduced carbon footprint
• Long term shift in production infrastructure
• Feedstock / crude sugars driven
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© Green Biologics Inc. 2012
Chemical Market Drivers
• Macro trends drive renewable alternatives
• Low carbon footprint• Consumer products that are “Green”
• Technology improvements & collaborations drive renewables
• Pretreatment / Sustainable sugar• Fermentation• Biocatalysts• Co-product recovery
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© Green Biologics Inc. 2012
• Global renewable chemicals market is estimated to reach $76.16 billion in 2015*
• CAGR of 12.67% from 2010 to 2015*
• U.S. is the second largest segment, growing at an estimated CAGR of 5.1% to reach $17.5 billion by 2014*
• Products include alcohols, organic chemicals, ketones, polymers, and others
• Used for industrial, transportation, textiles, food safety, environment, communication, housing, recreation, health and other applications
*MarketsandMarkets, 2011
Chemicals: Market Opportunities
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Chemicals: Performance and Economics Required
• Must be effective and economical as conventional materials
• Renewable is the differentiation point
• Challenge is to close the gap
According to Lux Research: “Today’s $1 billion biopolymer market to see double-digit growth in the coming years.”
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© Green Biologics Inc. 2012
Chemicals: Market Opportunities
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Chemicals: Market Opportunities
EERE_Top Value Added Chemicals from Biomass
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Flexible Feedstocks: Projected U.S. Biomass Use
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Range of Product Opportunities
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• Derived from petroleum today
• Used for paints, coatings, resins, polymers, and solvents
• A direct substitute to petroleum derived butanol
• Competitively priced without subsidy
• $5bn butanol chemicals market
• $50bn biofuels market, growing at 7.5% pa
Butanol: High Value Market Today
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A fermentation platform: Clostridium
• Anaerobic organism can be optimized to tolerate oxygen
• Fast growth compared to other anaerobes
• Wide range of substrates(C5, C6, starch, etc.)
• Range of product opportunities
• Ability to grow in simple inexpensive media
• Stability in regard to strain degeneration which offers a solid commercial platform
• Transformation of commercially proven organisms
© Green Biologics Inc. 2012 Private and Confidential
Case Study: Green Biologics Inc.
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© Green Biologics Inc. 2012
Green Biologics History
• Merger between butylfuel™ and Green Biologics (2011), creating a global leader in production of renewable n-butanol by fermentation
• GBL - UK based biotechnology company, VC backed, founded in 2003, focused on technology development and optimization
• GBI - North America subsidiary focused on designing, owning, and operating commercial projects
• Global team with proven commercial and technical expertise
• Focus on $5bn chemical market with transition to $50bn biofuel market
• Projects underway at pilot, demonstration and commercial scale
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GB’s Leadership in Commercializing Renewable n-Butanol
• Advanced technology
• Feedstock flexible
• Opportunities for multiple products
• Ease of implementation
• Low competition in growing markets
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© Green Biologics Inc. 2012
Advanced Technology: Transforming Established Science
• The Clostridial ABE process was developed in Britain in early 20th century by Chaim Weizmann, later the first president of Israel
• Large and growing global industry until the 40s when oil prices dropped
• Still used commercially in Russia and South Africa until the 1980s
• A well-understood reliable process• Petroleum-derived butanol became
cheaper and production ceased
Fermenters in Toronto ABE plant, 1917Picture courtesy of City of Toronto archives
South African ABE plant, circa 1950
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Solventogenic Clostridium Species – attractive producers
• Clostridia used in commercial scale manufacture for 100 years.
• Robust• Large substrate range (C5 & C6;
oligomers and polymers)• Non pathogenic or toxic• New strains are aerotolerant.• New strains not readily sporulate.• Produce acetone, butanol,
ethanol, and H2 from sugars &
starches
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Advanced Technology: New Developments
• Extensive microbial culture collection• Gram-positive bacterium, spore forming rod, non pathogenic/toxic• Produces ABE and H2 • >130 strains from South Africa, environmental & culture collections
• Superior strains developed (>400 proprietary strains)• Proprietary enzymes• Advanced fermentation process• Strong IP protection
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GB’s Intellectual Property
Superior Microbes
Advanced Fermentation
Gas recovery
control
Product recovery
Chemical mutagenesis
Genetic manipulation
barcode
Water recycle
StrainDevelopment
Process Development
Pre-treatment
Hydrolysis
Feedstock Hydrolysis
New Build
Retrofit
Design &Engineering
Culture Collection
• Technology assets (microbial culture collection)• Patents (core IP)• Know how (methods/skills/expertise)
BEST™
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Existing TechnologyUnder Development
Fermentation & Solvent Recovery
Saccharification
Molasses
Wheat straw
Corn stover
Glycerine
Bagasse
Corn Starch
Hemi-cellulose
Feedstocks Hydrolysis
Hydrolysis
Pre - treatment
Advanced Technology: Flexible Bioprocessing
Products
Butanol
Ethanol
Acetone
High value chemicals C4 platform
Hydrogen
Butyric Acid
BioJet
Advanced Fermentation
Advanced Solvent Recovery
BEST™
Continuous seed
H2
hydrogen capture
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© Green Biologics Inc. 2012
Fed-batch & Continuous Fermentation
• Fed-batch, with BEST™ product removal, doubles solvent titres
• Currently undergoing pilot scale demonstration
• To be deployed for bolt-on
• Continuous culture with BEST™ technology shown at high productivities (>1g/L/hr)
• Bench scale complete, pilot-scale demonstration Q4 2012
• To be deployed for “bolt on”
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• Large library of robust commercial production strains• Tolerate oxygen & diverse feedstock inhibitors• Stable & solvent production does not degenerate
• Low by-products• High butanol: solvent ratios (>80%)• Extremely low ethanol (<2%)
• Broad substrate range• Fermentation of C5 sugars allows superior performance• Wide range of monomers & dimers, cellulosic sugars
• Low nutritional requirements• Fast fermentation (complete 36-48hrs: high productivity)
Ease of Implementation
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Reducing enzyme costs
• Clostridia have much wider substrate range than yeast
• Produce solvents readily from C5 and C6 sugars, sugar alcohols, sugar oligomers and even some polymers (starch, xylan, pectin)
• Some solventogenic strains have cellulolytic genes. Expressing these in high producing strains
• Clostridia likely able to utilize biomass feedstocks with lower enzyme loads and different enzyme mixtures
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The C5 difference
Complements of Dr. David Jones
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Sugar cane - $300/t sugar
Ethanol - $800/t
Flexible Feedstocks: Biomass Opportunities
Relatively high-priced feedstocks fermented into relatively low value products
Corn – $300-500/t
sugar
Butanol - $1800/t
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Sugar cane - $300/t sugar
Bagasse- $150/t sugar
Ethanol - $800/t
Butanol - $1800/t
Flexible Feedstocks: Biomass Opportunities
GB enables producers to ferment low value feedstocks into high value products
Corn – $300-500/t
sugar
Ag Res./ MSW$50-150/t sugar
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Molasses -benchmark
• Use of C5 sugars key to superior performance
Corn stover - enzymatic cellulosic
hydrolysis
Hardwood pulp - hemicellulose
fraction
Sugar cane - bagasse
Flexible Feedstocks
• GB’s organisms can utilize diverse cellulosic feedstocks
Typical Cellulosic Composition
C6 SugarsC5 Sugars
35% 37% 39% 39%
SortedMunicipal Solid
Waste
35%36%
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© Green Biologics Inc. 2012
Unique Positioning: Parallel Technology Demonstration
Pilot Demonstration Commercial
Fast track approach allows timely commercialization
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North American Opportunities for Deployment
• Leverage ethanol industry/assets• 217 ethanol plants (working/shut down)
• Ethanol to integrated biorefinery
• Bolt-on and retrofit distressed assets
• JV investment opportunities
• Opportunities with existing sugar plants
• Sugar / energy beets and molasses
• Sweet sorghum and energy sorghum
• Leverage pulp & cellulosic industry/assets• Bolt-on and retrofit distressed assets
• JV investment opportunities
Multiple bolt-on opportunities2012 Top 10 Prediction:
“Ethanol producers begin switch to biobutanol and
chemicals en masse”
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© Green Biologics Inc. 2012
North America Biorefinery Options
• Bolt On to Existing Ethanol Asset • Ease of deployment• Value added to existing asset• Transformation to a biorefining complex
• Phase 2 Addition of Cellulose conversion• Fermentation Including both C5 and C6 sugars• Proven on wide range of cellulosic feedstocks• Ability to operate on cellulose or original bolt on corn mash• Evolutionary biorefining with corn or cellulose feed
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Ethanol Bolt-On Opportunity Utilizing Cellulosic Feedstocks
GBL Fermentation
GBL Distillation
GBL Solids & Evaporation
GBL Butanol storage & loadout
Protein solids to DDGS
But
anol
& A
ceto
ne
Eth
anol
Bolt on Scope Phase 1Thin Stillage
Pretreat to monomer sugars
Biomass Receiving and storage
Cellulose Scope Phase 2
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Oxo-Chemicals (C4) Platform
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Butanol – a Product of Choice
• Market size ($5bn chemical market, $50bn biofuels market)
• Fast global market growth for renewable n-butanol
• Proven technology (pilot to commercial scale)
• Profitability (ethanol $800/t versus butanol $1800/t)
• Opportunity for a range of low capital solutions (bolt-on or repurpose)
• Flexibility of feedstock and end product opportunities
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© Green Biologics Inc. 2012
Summary: Commercializing Renewable n-Butanol
• Attractive markets • 10 billion lbs. chemical market, biofuel opportunities
• GB’s technology leadership • World leader in ABE fermentation technology • Extensive microbial culture collection• Advanced fermentation process
• Multiple feedstock and product opportunities• C5 & C6 sugars• Proven on wide range of cellulosic feedstock
• Attractive implementation options• Process engineering designs for “bolt on” & retrofit• Demonstrated technology• Enables high return, low Capex solutions• Know-how from working across global customer base
• Effective & Economical in growing markets
.
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Questions
Contact:joel.stone@greenbiologics.com
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