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Hans van der Pol , Ph.D.
Director Strategic MarketingNew Business Ventures
CREATING NEW BUSINESSES BASED ON LACTIC ACID CORE COMPETENCES
BIO Pacific Rim SummitDecember 7-9, 2014
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1. Corbion profile
2. Lactic Acid technology
3. Lactic acid products and applications
4. Growth of lactic acid market
5. Growth opportunities beyond lactic acid
6. Summary and conclusions
2
Outline
December 9, 2014
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o Corbion:• A Dutch multinational formed by former Purac and Caravan Ingredients• Headquartered in Amsterdam, The Netherlands• Listed at Amsterdam Stock Exchange (Corbion)• 2013 turnover € 744 million, EBITDA € 99 million• 1900 employees, 200 in R&D• 10 manufacturing facilities
o Focus on:• Natural food preservation• Biobased building blocks & chemicals• Monomers for bioplastics
o 80 years of experience in the development, production and marketing of natural and biobasedchemicals
o Largest and most experienced producer of Lactic Acid
o Global sales network & manufacturing footprint
Corbion profile
“Designed by Science, Powered by Nature and delivered through dedication”
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1| Corbion profile
December 9, 2014
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Corbion-Purac Global Presence
October 29, 20144
1| Corbion profile
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Lime
Sugar Gypsum Co-Products
Fermentation Acidification Purification
Sulphuric acid Energy
Current Lactic Acid Production
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Lactic
acid
2| Lactic Acid Technology
December 9, 2014
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Lactic
acid
Biomass Gypsum Co-Products
Fermentation Purification
Energy
Future Lactic Acid Production with Corbion’s proprietary Platform Technology
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Acidification
2| Lactic Acid Technology
December 9, 2014
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• 10 kTon/yr Demo Plant
• Start-up July 2013
• Product within specifications
• Running within >95% of design specifications since early August 2013
Demonstration of gypsum-free Lactic Acid process in Gorinchem, NL
7 October 29, 2014
2| Lactic Acid Technology
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Cellulose options for High Volume Biobased Chemicals in the Pipeline
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Empty corn cobs WoodBagasse
Corbion assets in 2G Biomass value chain:
• Superior Process performance Lactic Acid vs. Bio Ethanol• Biomass scouting & evaluation• Pretreatment Technologies scouting & evaluation• Fermentation and tailor made strain development• Pilot and Demo capabilities
May 12-15, 2014
2| Lactic Acid Technology
December 9, 2014
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Lactic acid: 2 stereoisomers
L (+) lactic acid D (-) lactic acid
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Purac® Lactic Acid : Pure L(+) or D(-) Synthetic LA is a 50/50 mixture of L(+) and D(-)
3| Lactic Acid Products and Applications
December 9, 2014
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Corbion value propositions for food markets: Preservation, taste and nutrition enabled by deep understanding of functionalities
Natural food
Healthy food
Low Calory foodAcidified food
Fresh food
Delicious food
Safe Food
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Nutricious food
3| Lactic Acid Products and Applications
December 9, 2014
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L(+) Lactic acid Applications enabled through dedicated application and market development and understanding of market needs
Personal Care
Medical Industrial
Bioplastics Coatings
Animal Health
Agro Home Care
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3 | Lactic Acid Products and Applications
December 9, 2014
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Natural lactic acid market growth has been driven by continuousinnovation
Specialty industrial acid
Food ingredients
Chemicals and Pharma
Bioplastics and Chemicals
Innovation topics:• Technology• New products• Product purity• Functionalities• Applications• Services• PartnershipsExternal drivers:• Safety• Natural• Environment• Regulations• Sustainability
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PLA
Natural
Synthetic
Figure for illustrative purposes only (Index)
In each growth phase different trends needed to be addressed
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4| Growth of Lactic Acid market
December 9, 2014
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Growth drivers for lactic acid market in different phasesPhase Key Products Key Applications Functionalities Market Drivers
Until 1980 Synthetic lactic acid
• Leather Tanning• Metal plating• Textile dyeing
• pH control Basic functions
1980-1990 • Natural Lactic acid
• Lactate salts
• Food applications • pH control• Preservation• Fortification• Bio-availability
• Replacement of synthetic by natural L(+) LA
• Taste profile
1990-2000 • Lactate esters• Lactate salts
• Cosmetics• Personal care• Microelectronics• Agro• Detergents• Oil Field• Animal Feed• Bioremediation
• Moisturizing• Safety• Solvency• Adjuvancy• Descaling• Anti-bacterial
• Product Purity• Regulatory for
chemicals, solvents, biocides
2000 onward
• D(-) lactic acid• Lactides
• PLA• Acrylic Acid, PDO• Resins• Chiral synthesis
• Biodegradability• Bio-based• Chirality• Intermediate
• Sustainability• Technology
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4| Growth of Lactic Acid market
December 9, 2014
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Lactic acid: a Biobased Intermediate Platform
Acrylic AcidPolymers
(Acrylate resins,SAP)
Lactate Salts (K, Na, Ca)
FormulationsFood, Feed, Home and
Personal Care
Lactate Esters(ML, EL, BL)
FormulationsSolvents, Cleaning, Agro, Electronics
Lactides(LL, DD, DL)
Polymers(PLA, PU, CASE)
FormulationsFood, Feed, Home and
Personal Care
Lactic acidL(+) and D(-)
1,2-PDO Formulations(Coolants)
December 9, 2014
4| Growth of Lactic Acid market
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………
D(-) LA
Acrylic Acid
FDCA
Growth Opportunities Enabled by Corbion Proprietary Technology Platform Synergies
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Succinic acid
upstream
non-food feedstock
downstream
salt free
80 years
bio basedbuilding blocks
C5-C6sugars
• Detoxification• C5 fermentation• C6 fermentation
Adapted
DSP
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October 29, 2014
5| Growth Opportunities Beyond Lactic Acid
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Corbion moving beyond Lactic Acid
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Lactic acid and lactates
Succinic acid
Building on Corbion Purac core capabilities • Fermentation and down-stream processing• Salt-free production of organic acids• Purac global production sites & network
Partnership with:
L and D-Lactide
Acquisition
2014
FDCA
Acrylic Acid Partnerships
Manufacturing
o Globally
o Thailand(75 kton)
o Spain (Montmeló)
Partnership with:
2010
> 80 years experience
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1,2-PDO based on Lactic Acid
5| Growth Opportunities Beyond Lactic Acid
December 9, 2014
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• Strong and protected Technologyo Continuous improvement of manufacturing processo Sustainability as driver for improved process wit low environmental impacto Continuous improvement of technology and product specifications
• Application development to identify functionalities in key applicationso Low taste for preservationo High purity solvents for electronicso Specific registrations for different application fieldso Strong value propositions
• Biobased in itself not the key-driver for growth, but rather safety, regulatory, functionality and performance
• Development of derivative products to broaden addressable market: o Solvents for electronics and agroo Blends for foodo Purac Sanilac® for household & personal careo D(-) and Lactides for PLAo Large drop-in markets like Acrylic Acid and 1,2-PDO
Key Success Factors in Lactic acid market growth and Beyond
17 December 9, 2014
6| Summary and Conclusions
“Designed by Science, Powered by Nature and
delivered through dedication”
Bio Pacific Rim SummitDecember 7-9, 2014
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