1 Algae: A Sustainable Feed Alternative February 16, 2012 Matthew Caspari Founder & Managing Director, Aurora Algae Pty Ltd 2 Company Background 3 About Aurora Unprecedented Sustainability A Revolutionary Approach to Agriculture Energy from the sun Grow in sea water Utilize arid land Consume CO2 emissions ~100 employees HQ in California, operations in Perth and Karratha, Australia >$70M USD in venture capital funding from Oak Investment Partners, Noventi and Gabriel Venture Partners World leader in developing algae technology 4 Executive Management Team Dr. Bertrand Vick Founder, Chief Scientific Officer Worked with BASF Background in Industrial chemical bioengineering Ph.D. Biochemistry, UC Berkeley Brian Hinman Executive Chairman Founder of 2Wire, Polycom, PictureTel Venture Partner, Oak Investment Partners Greg Bafalis Chief Executive Officer Formerly CEO, Green Earth Fuels 25+yrs leading energy & agricultural projects around the world Matthew Caspari Founder, Managing Director, Australia Strategic management, business development, M&A experience MBA from UC Berkeley, BS in Biochemistry from Georgetown Guido Radaelli Founder, VP Engineering Petrochemical background MBA, UC Berkeley; Masters, Chemical Engineering, Politecnico of Milan Tom Willardson Chief Financial Officer As CFO, led IPO of Energy Recovery Formerly CFO of Cost Plus, WebSideStory, Archimedes Technology Group Holdings 5 Auroras Australia Demonstration Site 15 tons Biomass per Month Capacity 6 Protein-rich Feed Biodiesel Controlling Quality, End-to-End Sunlight Sea Water Carbon Dioxide Cu 29 P 15 Mo 42 Mn 25 Cu 29 Fe 26 N 7 cultivationharvestingextractionconversion EPA Oil 3 patents26 patents5 patents5 patents 7 Algae as Feed 8 Focus on Feed 9 Fish Feed Fish farming is growing over 10% per year As an industry, aquaculture will surpass cattle by 2015, and poultry by 2050 Current fish meal production industry is limited by International fishing quotas Increasing need for high potency protein to fuel the expanding fish farming industry 10 Algal-based Fish Feed Algae is a natural part of the fish diet Natural source of vitamin A and other nutrients Unique ability to scale to demand versus the seasonal limits of wild caught fish Customizable feed solutions Whole algae includes Omega-3 oil Protein-carb mix Higher level of proteins possible via isolation Ideal alternative to other animal feeds 11 Algal-based Animal Feed Protein rich feed with flexible application potential Easily digestible proteins for several stages of animal-life Scalable Vitamin rich, allergen free food source Sustainable alternative to fish meal Suitable as pet food *Aurora has a unique ability to scale to demand versus the seasonal limits of wild caught fish and land based crops12 Scaling Production Capacity 13 Australia:Ideal Location for Algae High solar radiation Warm temperatures which support algae growth Availability of CO2 from industrial processes Flat arid land unsuitable for agriculture Abundance of seawater used as a medium for algae growth Strong Australian government support 14 Expansion Plan: Commercial Facility in 2013 Initial Project: 100 hectares Production: 600 tons of biomass/mo. Project expandable to 1000s of hectares 15 Questions? 16 Algae: A Sustainable Feed Alternative February 16, 2012 Matthew Caspari Founder & Managing Director, Aurora Algae Pty Ltd