Glanbia IrelandAgriChemWhey

EDA Conference 16th November 2018Bill MorrisseyBioeconomy Program Manager Glanbia Ireland

2

Glanbia Ireland 2017

Great People

1,800

Total Revenue

€1.8bn

Products sold in over

70+countries

Investment in milk processing assets

€359m

Milk Intake (litres)

2.7bn

Production

facilities11

€4.4bnEconomic Impact

3

Traceability

Ambitious suppliers

Engaged workforce

Strong relationship

with our farmers

Unique contributions to rural economies

Global commercial

footprint

Committed Leadership team

Global recognition

Insight: Whey Permeate = Bottleneck for whey processing

Current Value Chain

Action: Convert low value Whey Permeate side-streams from dairy processing into Lactic Acid and valuable co-products

Disruptive BiotechnologyWhey Permeate

&

Delactosed

Permeate

Gypsum

Animal Nutrition

ProbioticHydroxyapatite

Toothpaste

Micro Plastic Substitute

Mushroom compost

Phosphate binder

Soil conditioner

Pre

treatm

ent

Dow

nstr

eam

Dow

nstr

eam

L-Lactic acid

AgriChemWhey

Co- Products

Polylactic

Acid (PLA)

Potential: A World First, Multi Product Bio-Refinery

Lactic Acid: Global Value $1.75B by 2022,- 8.6% CAGR Demand Driven by PLA

Hydroxyapatite: CAGR of 5.9%, - $2.97 billion market by 2023

Bacillus coagulans Probiotic: Probiotic market 7.4% CAGR €64.6 billion by 2023,

Gypsum: Substitute for current vitamin & mineral calcium carrier for animal feed mills Granular lime substitute for land use

WHY AGRICHEMWHEY WILL WIN

• Strong global growth in demand for Lactic Acid – CAGR of 8.6%.

• Ability to supply the PLA market with a second generation feedstock

• Efficient and protected technology (patent filed)

• Large and growing whey permeate pools in Ireland

• Potential to be a global player in the Lactic Acid industry

• Lowest feedstock cost in the EU and globally very competitive

• H2020 research and innovation grant approved for €22m

MARKET

CAPABILITY

COST MODEL

& FUNDING

OUR LOCATION – NATIONAL BIOECONOMY CAMPUS, LISHEEN

National Bioeconomy

Innovation & Piloting

Facility

Glanbia Biorefinery

CMP Mushroom

Substrate Facility

• National Pilot facility is a key enabler for new

job creation

• De-risking future investment in the sector

20222014 2018 2020 2021

Timeline

Commission & OperateBuildR&D

2023

Design & Scale

TIMELINE OF THE OPPORTUNITY

AGRICHEMWHEY