Making Sugar from CO 2 BIO World Congress on Industrial Biotechnology Philadelphia Kef Kasdin, CEO May 15, 2014
We Make Sugar Proterro makes low cost sucrose that unlocks economical production of biofuels and chemicals Not Crop-Based / Not Cellulosic Avoids pricing volatility Predictable, reliable source of production Much less land vs crops 1/10 water of algae systems Fermentation-Ready Drop-in sugar feedstock No further processing required for fermentation to biofuels/biochemicals Easily scalable Benefits to Partners Complements 1 st and 2 nd generation ethanol Clean sucrose (no other sugars or inhibitors for biochem) Monetizes CO 2 To supplement sugars extracted from crops or deconstructed from cellulosic materials 2
The Feedstock Challenge Access to a reliable, low-cost feedstock remains a critical barrier to scale for the production of bio-based fuels and chemicals. Feedstock Challenges Corn and Sugar Price Volatility: Seasonally- and market-driven price volatility Food v. Fuel: Land competition Cellulosics Biomass Availability: Access to amount of biomass required to obtain economies of scale is limited Biomass Recalcitrance and Non-Homogeneity: Fractionation and deconstruction of biomass into usable intermediates require complicated and expensive multistep processes Proterro addresses these challenges by making affordable, fermentation-ready sucrose 3
Converting Sunlight to Fuels & Chemicals CO 2 + H 2 0 + Nutrients + Nutrients Sugarcane, Corn, Cellulose Growth $ Harvest $ Logistics $ Complex; labor, capital & energy intensive Process $ Refine Fuels & Chemicals CO 2 + H 2 0 + Nutrients Proterro Patented Process Alcohols H2O, Nutrients Air and CO 2 Photons Photobioreactor Air Sucrose, Water Lower cost than sugarcane, corn, cellulose Oils Hydrocarbons Organic Acids 4
Path to Commercialization 1. Lab scale development and proof of concept 2. Greenhouse Testing 1/3 rd m 2 photobioreactor; 3 months 3. Pilot Program Orlando, Florida Outdoor testing in natural light; 50 m2 growth surface per bioreactor 4 months continuous operation Consistent and controllable sugar production No contamination effect on sucrose productivity Results verify process is scalable 4. Demonstration Program Outdoor testing adjacent to mill or other CO 2 source ~100 photobioreactors working as a system 5. First Commercial Plant 5
Commercial Scale Photobioreactor Developed with ILC Dover ILC Dover Engineered solutions employing highperformance flexible materials since 1947 Specializes in advanced fabrics and engineered inflatables PBR is very robust: able to withstand Category 1 hurricane winds NASA spacesuits Containment solutions for pharma 6
Robust, Modular Photobioreactor Made from Off the Shelf Materials W S N E Key Features Collapsible low-cost polyethylene cylinder Naturally sheds rain and snow Favorable aerodynamic shape for wind loading Patented cyanobacteria grow on vertical fabric panels Water and nutrients drain by gravity on panels CO 2 -augmented air, flue gas inflates cylinder Natural low point for condensate drain Can be UV stabilized Validated low fabrication costs 7
Preliminary Demonstration Plant Design 8
Strong Value Proposition for Partners First Generation Ethanol Utilize excess production capacity Gain access to lowcost sugar supply Utilize emitted CO 2 to produce more sucrose Attractive return on investment Renewable Fuels & Chemicals Stable, reliable lowcost source of sucrose -Commodity hedging not core competency High purity feedstock stream -Bioengineered organisms highly susceptible to any byproduct inhibitors -Attractive return on investment CO 2 Emitters Utilize and monetize CO 2 Response to regulatory pressure to mitigate CO 2 footprint Attractive return on investment Proterro provides a compelling partner opportunity across markets 9
Robust Intellectual Property Position Bioreactor Notice of allowance on photobioreactor claims Engineered Organism US Patent 8,367,379 issued Feb 2013 Process US Patent 8,597,914 issued Dec 2013 Aggressive Patent Filings Developing comprehensive patent estate with 70+ global applications pending or planned to file 10
Kef Kasdin, CEO kef@proterro.com Proterro, Inc. 100 Princeton South Corporate Center Suite 150 Ewing, NJ 08628 www.proterro.com