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Bio-based PX for 100% bio-PET
International Conference on Sustainable Chemistry & Engineering
November 19th 2013
© Virent 2013
Virent Vision
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Consumption outpacing population
0
20
40
60
80
100
120
2010 2050
pe
rce
nt
incr
ea
se Consumption
Population
Source: United Nations © Virent 2013 3
Consumption today
We are consuming 1.5x the ability of the
earth to supply resources sustainably…
yet consumption will grow
as we increase quality of life © Virent 2013 4
Consumption growth
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Sustainable Consumption
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We can increase the ability of the earth to
sustainably supply the resources we need through
efficiency, growth and technology
Sustainable Consumption
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technology
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Converting biomass around the world
…with Virent technologies and partners
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Virent at a glance The global leader in catalytic biorefinery research, development, and commercialization
Location
Technology
Infrastructure
Madison, Wisconsin, USA 25x Development Pilot Plants
2x Larger Demo Plants
Partners & Investors
Catalytically converting plant-based feedstocks to fuels and chemicals
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Virent’s BioForming® Technology
Fast and Robust Inorganic Catalysts
Moderate Conditions
Industry Proven Scalability
Energy Efficient Exothermic
Low Energy Separation
Low Carbon Footprint
Premium Drop-in Products Tunable Platform
Infrastructure Compatible
Fuels and Chemicals
Feedstock Flexible Conventional Sugars
Non-Food Sugars
Leading catalytic route to renewable hydrocarbon fuels and chemicals.
“Eagle” Virent’s Biogasoline Demonstration Plant- Madison, WI
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The BioForming® Concept
Corn
Reformate
Distillate
APR/HDO
Modified
ZSM-5
Condensation
+
Hydrotreating
Aromatics
Gasoline
Jet Fuel
Diesel
Cellulosic
Biomass
Cane Sugar
and Bagasse
Bio-based feedstocks to direct replacement products
73 Issued/Allowed Patents, 160+ Pending Patent Applications
H2
APR = Aqueous Phase Reforming HDO = Hydro-deoxygenation, a variation of APR that utilizes external hydrogen
Option 1
Option 2
Drop-In
Drop-In
Woody
Biomass
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Biobased Chemicals
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Global Petrochemical Market
Ethylene
Assoc. gases / Naphta
127 Mt/a
Estimates of world demand , 2011 Sources: IHS Chemical, ICIS.
Propylene Butadiene* Benzene Toluene Xylene
Olefins Aromatics
Crude Oil
79 Mt/a
10.5 Mt/a
41 Mt/a
29 Mt/a
43 Mt/a
Natural Gas Liquids
• Approximately 330M tonnes in 2011
• Market value ~ US$440B
• BTX Market value ~ US$130B
Virent focusing on BTX
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Global Petrochemical Market
Benzene Toluene Xylene
Aromatics
Nylon Polyester Polyurethane Phenolics Polycarbonate Polystyrene
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Same polymers, same performance, same equipment
Mass Balance
16
Virent BioForming
Aromatics Processing
Soluble Carbohydrate
2.6t
BioFormate (Liquid
Hydrocarbons)
1t
Paraxylene 0.6t
Benzene 0.2t
BioGas 0.1t
BioFuel 0.1t
Virent BioForming
Best Theoretically Achievable
Specific Feedstock Consumption (mass carbohydrate per mass hydrocarbon)
2.6 2.3
Carbohydrate mass yield to liquid hydrocarbon
38% 43%
Biomass
Sugar cane
Corn
Hydrogen 0.17 t
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100% Bio-based Paraxylene
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Why are customers interested?
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Diversifying supply & tackling volatility Consumer interest and demands
Supply as co-product diminishing Projected Strong Global Growth Rates
Coca-Cola & Virent partnership
Coca-Cola supporting the commercialization of Virent’s BioFormPX™ for use in PlantBottle™
Multi-million dollar, multi-year agreements with Virent
Joint Development Agreement
Supply Agreement
Supporting Virent’s plans for first chemicals plant
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Challenges
Scaling and entering into a complex
supply chain
Raising capital for a novel technology
Competing commodities (petro vs agro)
Feedstock sustainability is a “moving
target”
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Bio-PET Supply Chain
22
Crude Oil
Reformate
BTX PX PTA
PET
Naphtha
Biomass Reformate BTX PX
Virent BioFormPX
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1 2 3
Natural
Gas
NGL
Pygas
Ethane
Cra
cker
R
efo
rmer
Ethylene Ethylene
oxide
Ethylene
glycol
Biomass Ethanol Ethylene Ethylene
oxide
Ethylene
glycol
Feedstocks
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Feedstocks
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Cellulosics
Maize / Corn
Sugar cane
Sugar beet Ethanol
Cellulosics
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Corn Stover
Sugar cane bagasse
Wood chips
Rice straw
Wheat straw
Tall grasses
Sustainability
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Green House Gas (GHG) Emissions Cradle To Grave Analysis
• Initial Virent internal GHG estimates conducted for one potential commercial plant configuration
• GHG emissions calculated based on economic allocation methodology (5 yr. price average)
• Utilized EcoInvent and GREET data in conjunction with GaBi software for GHG analysis.
• Does not include any transportation effects post-gate.
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> 30% reduction
> 55% reduction
> 35% reduction
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Summary
Leading technology for catalytic conversion of plant matter to direct
replacement hydrocarbons, including aromatics.
Strong strategic partnerships (e.g. The Coca-Cola Company, Royal
Dutch Shell, Cargill, Honda).
First commercial deployment will be bio-PX for the production of
biobased PTA and PET.
Initial deployment for bio-PX will use ethanol as a feedstock for more
rapid, lighter capital project
Growing demand for bio-based aromatics due to
Consumer demands and desire for differentiation
Shifts in petrochemical supply dynamics and fears
Tackling volatility with a portfolio approach
Developing pathways to advance integration with cellulosic feedstocks
and lignin.
Sustainability is critical and must account for biogenic carbon
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Virent converts plant-based sugars into 100% renewable chemicals and fuels. Our bio-
based products are identical to those produced from petroleum—direct replacements
that utilize today’s processing, storage and transportation infrastructure.
Kieran Furlong, Director Chemicals Business Development
Thank you.
© Virent 2013