opx biotechnologies inc. - platts · pdf filedextrose –propylene ... equivalent to $...
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OPX Biotechnologies Inc.The Leading EDGE™
Renewable Chemical Business
Platt’s Renewable Chemicals Conference
Houston
12 September 2011
2OPXBIO Platt’s Renewable Chem Houston 12Sep11
Renewable BioAcrylic
3-HP BioAcrylic
$8 Billion Global Market Opportunity Direct replacement with 30-50% lower cost and equal performance
3OPXBIO Platt’s Renewable Chem Houston 12Sep11
Acrylic Acid Market
Existing $8 billion Growing Global Market
Customers demanding renewable acrylic
4OPXBIO Platt’s Renewable Chem Houston 12Sep11
Dow ChemicalStrategic Partner – BioAcrylic
• $50 billion annual revenue global chemical company
– Largest US producer of petro-acrylic and derivatives
– Committed bio-based strategy and investments
• BioAcrylic joint development agreement
– Joint funding and work to demonstrate BioAcrylic process
– Intent to jointly commercialize
Faster, Lower-Risk, Shared-Cost Development and Commercialization
Sugar Feedstock
Microbe & 3-HP
Bioprocess
BioAAConversion
Process
Commercial Production
Channel to Market
Dow JointOPXBIO Dow Dow
5OPXBIO Platt’s Renewable Chem Houston 12Sep11
2008 2009 2010 Q3 2010 Q3 2011 2012 2014
BioAcrylic Development PlanScale-Up and Commercialization
Comml Plant
750k L
100M Lbs/Yr
Demo Plant-2
50k L
1M Lbs/Yr
Demo Plant-1
3000L
60K Lbs/Yr
Lg Bench
10L
250 Lbs/YrSm Bench
1L
25 Lbs/YrShake Flask
100 ml
Lab Pilot Demo Commercial
Pilot
250L
5K Lbs/Yr
6OPXBIO Platt’s Renewable Chem Houston 12Sep11
Acrylic Product CostPetroAA vs BioAA Target
Acrylic Market Selling Price $1.20/lb
55% BioAcrylic
Cost Advantage
40% BioAcrylic
Cost Advantage
7OPXBIO Platt’s Renewable Chem Houston 12Sep11
Acrylic Product CostDextrose – Propylene Breakeven
BioAcrylic Cost Advantage
97% of Time Jan05 – Dec10
Current
Propylene
Price
BioAA
Commercial
Model Dextrose
Price
8OPXBIO Platt’s Renewable Chem Houston 12Sep11
Quantitative
Experimental
Design
Massively
Parallel
Genetic
Manipulations
Comprehensive &
High Resolution
Parallel
Processing
EDGE™ Technology PlatformEfficiency Directed Genome Engineering
9OPXBIO Platt’s Renewable Chem Houston 12Sep11
BioAcrylic Technology StatusPilot Scale Production Results
0
20
40
60
80
100
120
140
Rate Yield
ActualvsCommercialG
oal(%)
Jul09
Dec10
Commercial Rate & Yield Goals Achieved in 18 Months High Speed and Efficiency
Commercial
Goal
79%
2.6 g/L/hr
70g/L titer
in
26 hours
10OPXBIO Platt’s Renewable Chem Houston 12Sep11
BioAcrylic Product Cost Pilot Process Results, Commercial Plant Model
Achieved Commercial Goal in Only 18 Months High Speed and Efficiency
$17.82
$8.76
$3.03
$1.43
$7.61
$1.06 $.70
Assuming $.14/lb Dextrose Feedstock
Equivalent to $.54/lb Cost from
$.08/lb Sucrose in
Brazil
11OPXBIO Platt’s Renewable Chem Houston 12Sep11
Market OpportunitiesLeveraging BioAcrylic Success
3-HP BioAcrylic
1,3 Propanediol
Acrylamide
Acrylonitrile
Acetonitrile
Propriolactone
Malonic Acid
Sugar or
CO2 + H2
Fatty Acid Esters
Alkyl Alcohols
Bio/Diesel
1,4 BDO
Succinic Acid
Propanediol
$8B
>$30B>$500B
12OPXBIO Platt’s Renewable Chem Houston 12Sep11
Fatty Acids2nd Product in Early Development
• Bioprocess for CO2 and H2 fermentation to fatty acids
– Confirms versatility of EDGE™ technology platform
– Low cost feedstock for chemicals and fuels
– CO2 and H2 from gasified biomass or solid waste, natural gas
• Lab scale production of fatty acids demonstrated
• Chemical application in consumer and industrial products
– $5B market opportunity
• Also used to make renewable diesel and jet fuel
– Supported by $6M award from the US Dept. of Energy
– Collaborating with NREL and Johnson-Matthey
– Jet fuel from fatty acids demonstrated in lab scale engine
– >$500B market opportunity