BIO Pacific Rim Summit The future of renewable chemicals December 8, 2014 Contact: Tim Staub tim.staub@greenbiologics.com +1 (804) 368 6136
What we are doing Building the Leading renewable n-butanol company Build production plants Leveraging existing assets Employing a capitalefficient, operating model Focus on low-cost, cellulosic feedstocks Expand technology lead with microbial and process advances Understand key markets Collaborate Accelerate roll out 2
Focus on commercial scale up Execution on first plant, cost reduction and productivity Core Technology Focus Strain Development Process Development Feedstocks Integrated renewable n-butanol production platform Focus on Scale Up / Commercialization Microbiology labs and offices in Abingdon, U.K. Pilot plant in Columbus, Ohio Demonstration facility in Iowa 30 times scale up to CMR plant in Minnesota 150 100 50 0 Manpower Focus 2014 2015 Technology Admin Operations 3
Commercial Plant CMR (Little Falls, Minnesota) U.S. farm-level prices: Corn, wheat, and soybeans Dollars per bushel 14 12 10 8 6 4 Note: 2014-2023 projection is in range of $3.60 - $4.40 / bu. farm cash price Soybeans Wheat Progress Update 23MGPY operating ethanol plant AFP significant impact on CMR productivity Minnesota is a favorable locale: $500,000 Minnesota grant Proactive state legislature, others Corn and DDGS prices favorable Attractive project returns 2 Corn 0 1990 1995 2000 2005 2010 2015 2020 Source: USDA Agricultural Projections to 2023 - February 2014 4
Marketing Update Solid momentum in key segments Existing market demand New market development New product development Collaborations are key Leveraging China cellulosic product Demonstrates capability Facilitates collaborations Drives offtakes Manages pricing expectations Rebranding GBL for green formulation chemistry 5
Leveraging the value chain Creating value and managing risk Enable Develop Deliver Distribute Understand Renewable Feedstocks (Sugar) Renewable Butanol & Acetone Derivatives Formulated Products Channels to Market Consumers n-butanol Acetone Butyl acrylate Butyl acetate Butyl glycol ether Butyl esters Isopropyl esters Architectural paints Inks and toners Household cleaners Adhesives and sealants Cosmetics and toiletries Food ingredients / flavors Plasticizers Lubricants & additives Other consumer products Walmart Ford, GM, BMW, Toyota P&G IF&F Coca Cola, Pepsi Whole Foods Home Depot Lowes USDA Others Our challenge is to understand the value we create and position GBL to share in that value 6
New product development Diverse opportunities to leverage our platform Flow Modifiers Plasticizers Coalescing Agents Defoamers Lubricants Emulsifiers Cosmetic Actives Specialty Solvents Trends: Non-toxic Biodegradable Natural Sustainable Green High Growth Unique value proposition: Bio-based n-butanol (or IPA) + Bio-based co-product (carboxylic acid, base oils) Potential chemistries: Butyl esters (>70) Isopropyl esters* (>50) Methyl isobutyl ketone* Isopropyl alcohol* * Acetone derivatives Products can be produced directly, via tolling, or via collaboration 7
Critical issues Creating balance in a world of giants Scale is everything reach the inflection point! Collaborations are critical Downstream partners provide volume and leverage Upstream partners provide access to capital, feedstocks and capacity Synthetic biology tools will change the future Clostridia is a workhorse microbe GBL aims to be the leader in Clostridia microbial development Chemical synthesis still matters... a lot Fairness must be balanced with reality Mass balance / book and claim will drive acceptance Marketing claims must be based on C14 analysis and renewable content The world won t stop spinning Oil will be cheap... and expensive (again) Global commodities will always be commodities Blocking and tackling must demonstrate quality, supply security, value 8
Thank you! Tim Staub Global VP Business Development tim.staub@greenbiologics.com +1 804 368 6136