Metabolix: Pivot to Performance Focus

Transcription

1 Metabolix: Pivot to Performance Focus BIO Presentation Montreal, Canada July 20,

2 Biopolymers: Positioned for Commercial Success Technology Phase Founded in 1992 after spinout from MIT Built core PHA bioscience capability and IP Economical production technology piloted Building a Commercially Successful Specialty Biopolymers Business Initial Commercialization Phase Large scale commercialization with ADM Commodity approach based on biodegradability Successful scale-up, key knowledge gained Pivot to Specialties Phase New, more focused specialties strategy Leverage core bioscience and unique, differentiated PHA properties to maximize value in use Reshape MBLX, position for commercial success 2

3 Metabolix Innovation Engine MIT spinout (1992) A world leader in metabolic engineering Shares traded on the NASDAQ as MBLX Current Commercial Focus Specialty Biopolymers Strong overlap of core bioscience and fermentation PHA recovery Biopolymers Proprietary PHA compositions Proprietary PHA applications Future optionality Fermentation based chemicals FAST TM recovery process Acrylic and GBL/butanediol Global Portfolio More Than 450 Patents Yield10 Bioscience Crop spinout in progress Biomedical spinout Medical devices FDA approved PHA polymer TephaFlex TM sutures(b. Braun) Phasix TM hernia repair mesh (Bard) GalaFlex TM (Galatea) >700,000 patients treated Equity and licensing revenue to Metabolix 3

4 Metabolix Initial Approach Technology platform for bio-based polymers Biodegradable Soil (Ambient) Home Compost Industrial Compost Fresh Water Marine Water Anaerobic Biobased Sugar used as feedstock Products PHA s can be compounded and processed using conventional plastics processing equipment: Fermentation Microbial engineering enables high polymer accumulation in microbes. With access to proprietary technologies and know-how 4

5 PHA Market Opportunity Space and Players: Typical first generation strain process Medical PHA Carbon source Ac-CoA AcAc-CoA 3HB-CoA Price $ / lb $5-25 / lb $2-4 / lb $1 / lb PEEK LCP PPA MBS EVA PB TCA cycle Co-feed Performance Modifiers/ Process Aids ~1.1 MM tpa, ~$6 billion pa Acrylates PSU HX Pivot? Engineering Polymers POM PMMA PBT PC PLA ~180K Tons Source: Nova-Insitut HX-CoA PHB or PHB-co-HX (0-30% HX) Metabolix, Telles PHA JV terminated, 2012 PA ABS PP PE PVC Commodities PHA (PHB) Companies Kaneka - veg. oil Tianan - sugar Tianjin - sugar Meredian - veg. oil Newlight - methane Terraverde - MeOH (methane) Mango - methane K Tons Market Volume M Tons 5

6 Next Generation Strains: Example: PHB-co-5HV Metabolix developed proprietary metabolic pathways to a series of PHA co-monomers Glycolic acid, 3-hydroxypropionic acid, 4-hydroxybutyric acid, 4-hydroxyvaleric acid, 5- hydroxyvaleric acid, 3-hydroxy-C6, 8, 10, 12 acids This enables control of polymer structure (types and ratio of monomers and MWt) leading to functionality targeted solutions end-product performance 6

7 Metabolix Core PHA Technology: Enables all PHA Grades Amorphous Range Metabolix 3 rd Generation Strains Feedstocks Glucose, Sucrose, Cellulosic s, Gycerol, Ethanol Methanol, Methane, Fatty acids (Patents pending) Metabolic engineering enabled: All PHAs from simple feedstocks Novel amorphous PHA compositions (Pat s Pend) Performance Modifiers/ Process Aids ~1.1 MM tpa, ~$6 billion pa Novel pathways and production strains (Pat s Pend) Higher value applications and market opportunities based on unique performance( Pat s Pend), includes blends with more crystalline PHAs Lower cost PHA copolymers (low HX; Pat s Pend.) where biodegradability or sustainability are valued by the customer or driven by regulation Reset the patent timeline 7

8 Differentiated Biopolymer Offering Key Product Differentiators Performance Additives Amorphous PHA rubber Compatibility in other materials Multi-functional additive Biobased and biodegradable Functional Biodegradation Biodegradability profile (composting, AD, soil, marine and fresh water) Bio-content Performance envelope How Metabolix PHAs Add Value Enhanced properties Improved processing Reduced cost Enhance PVC recycling Enable biodegradation in broadest range of ambient environmental conditions Address growing preference for sustainable solutions Application Spaces for Metabolix PHAs PVC flooring, vinyl siding, roofing, cable jacketing, fencing and decking PLA packaging and other films PLA non-wovens for wet wipes PLA food service items Cosmetic microbeads Organic waste diversion Water treatment Agriculture and horticulture Fishing tackle 8

9 Solid Portfolio of Commercial Opportunities PVC Additives Application Role of PHA Flooring Backing materials Fusion aid to enhance use of PVC recyclate Wire and cable Jacketing Process aid, improved extrusion and surface finish Building materials Extruded railing, vinyl siding Process aid, improves incorporation of fillers Roofing Roofing membranes High molecular weight plastifier for permanence PLA Additives Application Role of PHA Packaging High clarity blown film Toughener, eliminates noise and creasing Personal care Non-woven wipes Process aid, softening, compostability, biocontent Compostable food service wares Plates, flatware, cups Ductility, toughness, compostability, biocontent Organic waste diversion Filled blown film Tear resistance, toughness, compostability, biocontent Dental equipment Injection molded tips Toughening and ductility Functional Biodegradation Application Role of PHA Biodegradable microbeads Cosmetic/ personal care ingredient Exfoliation, fresh water and marine biodegradation Small aquariums water treatment Pellets in filtration cartridges Denitrification Pond water treatment PHA spheres to deliver additives Fully biodegradable container Railcar wheel lubrication Extruded lube systems Soil biodegradation Hydroponics for algae control Pots for hydroponic plants Fresh water and soil biodegradation Fishing tackle Artificial bait and lures Fresh water and marine biodegradation 9

10 Thank You Questions? 10

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