2015 LanzaTech. All rights reserved.

Innovating for a Carbon Smart Future

2015 LanzaTech. All rights reserved.

1943

1895

1920

1949

1977

1981

A Few Predictions

1876 “This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication” Western Union Memo “Heavier-than-air flying machines are impossible” Lord Kelvin, President Royal Society “The wireless music box (radio) has no imaginable commercial value” David Sarnoffs Associates in response to his urgings for investments in the radio “I think there’s a world market for maybe five computers” Thomas Watson, Chairman IBM “Computer in the future may weigh no more than 1.5 tons” Popular Mechanics forecasting the relentless march of science

“There is no reason anyone would want a computer in their home” Ken Olson, President, Chairman and Founder of Digital Equipment

“640K ought to be enough computer memory for anyone” Bill Gates

2

Predictions are simply extrapolations

of the past…

…innovation expands

the ‘art of the possible’

…today’s ‘unimaginable’ is

tomorrow’s ‘conventional wisdom.’

That’ll Never Work

4

1998: $12/Watt 2015: $1.39/Watt

2015 global new power generation 134 GW Renewable

62 Wind, 56 PV, 16 Other 82 GW Fossil

40 NG, 42 Coal 37 GW Other

22 Hydro, 15 Nuclear

S.P. Srivastava & S.P. Srivastava International Journal of Environmental Science (2013)

2015 renewable energy jobs 9.2 Million

IRENA, Renewable Energy Benefits: Measuring the Economics (2016), jobs include large hydro UNEP-Bloomberg-Frankfurt School, Global Trends in Renewable Energy Investment (2016) Bloomberg New Energy Finance, H1 2016 PV Levelised Cost of Electricity Update.

It can’t be done!

A Carbon Smart World

65% of 2°carbon budget: USED

1870-2011: 1900 GtCO2

Remaining: 1000 GtCO2

Must stay in the ground

6

Gas Feed Stream

Gas Reception Compression Fermentation Recovery Product Tank

Recycling Carbon

Gas fermentation

technology converts C-

rich gases to fuels and

chemicals

Proprietary

Microbe

Performance milestones achieved and exceeded for >1000 hours

7

Phranerzoic Archean Proterozoic

0.5 1.0 1.5 2.0

Appearance of sugars and sugar fermenting organisms

2.5 3.0 3.5 4.0

Hadean

0.4 0.3 0.2 0.1 0.0 0.6

Billions of Years ago

Ancient Organism to the Rescue!

2. CO2-rich atmosphere

3. O2-rich atmosphere

1. Reduced atmosphere

Hydrogen Carbon

monoxide Carbon dioxide Methane

Carbon Dioxide Oxygen

Acetogenic Bacteria

Cyanobacteria Algae Plants

8

9

Environmental Impact

Gas Feed Stream

Gas reception Compression Fermentation Recovery Product tank

The LanzaTech Process

CO

CO2

5.2 barrels of gasoline are displaced by every

tonne of ethanol produced

1 tonne ethanol produced as CO averted from flare

Per tonne of Lanzanol

CO2 MT kg PM kg NOx

Averted from flare 2.5 0.7 4.6

Displaced gasoline +0.5 +2.5 +7.4

Energy required for

LanzaTech Process -0.8 -0.2 -0.9

Avoided per

tonne of ethanol 2.2 3.0 11.1

Utilizing steel mill gases from a typical steel mill is

equivalent to removing ~20,000 cars

from the road each year!

Ease

of

fun

din

g

Evolution

Applied R&D

Engineering Development

Pilot and Demonstration

Discovery

Diffusion

Adapt and adopt from others

Continuous improvement at scale

Getting a New Process to Scale

First Commercial

ArcelorMittal, Gent

11

Ground Works Started October 2015

Gas Testing Station Produces Ethanol

January 2016

Connection to Steel Mill Gas Lines March 2016

Ethanol Derivatives: Value Chain

Ethanol

Ethylene Ethylene oxide

(EO) Ethylene glycol

(MEG)

Ethylene dichloride

Ethyl Benzene

Acetaldehyde

Vinyl chloride PVC

Styrene Polystyrene

Acetic Acid Poly Vinyl

Acetate & Poly Vinyl Alcohol

Market Size* Million MT

21

40

10

Source: IHS, ICIS, Nexant

8

Low Carbon Ethanol "Sequestered" in Sustainable Products

13

India Ethanol Market

• Production (2015)

– Gasoline: ~30B L

– Ethanol (Domestic)

• Total: ~3B L

• Fuel Blending: ~ 1.1B L (Source: AIDA)

Expanding Domestic Sources Key

Year Ethanol production from molasses (BL)

Ethanol use (BL) Ethanol available for blending (BL) Potable Industry Other

2010 2.72 0.88 0.68 0.10 1.06

2015 3.01 1.04 0.79 0.11 1.08

2020 3.22 1.22 0.91 0.13 0.96

2025 3.43 1.44 1.06 0.15 0.79

2030 3.64 1.69 1.23 0.17 0.56

0

20

40

60

80

100

Gasoline(India)

Corn CaneSugar

Molasses RefineryTailgas

SteelMillOffgas

AgWastes*

AgWastes**

MSW**

Ethanol Life Cycle GHG Emissions

(gC

O2eq

/MJ)

*Fermentation **Gasification

Imported

Domestic

Emerging Domestic

Increasing Supply while Reducing Emissions

Agricultural Waste ~25B L/yr

Steel Mill Offgas ~5B L/yr

Refinery Offgas ~0.7B L/yr

Municipal Solid Waste ~7.5B L/yr

35B L/yr potential from wastes and residues

Domestic Resources for Low Carbon Ethanol

Building a Technology Platform

Gas Feed Stream

Gas Reception Compression Fermentation Recovery Product Tank

Hydrocarbon Fuels

Ethanol

Butanediol

Acrylonitrile Butadiene Styrene (ABS)

Nylon 6,6 (from Adiponitrile/HDMA)

Propanol Butanol

It can be done!

17

Embrace the Circular Economy

Recycle Make

CCU

“CC

S”

Innovation, Strong Will and Regulation!

18

1950s 2013

Los Angeles

London

Cuyahoga River

1969 2014

What we do Matters

Headset Change!

We all Need to be Superheros!