renewable diesel: fueling the future in a green economymay 16, 2011 · fueling the future in a...
TRANSCRIPT
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May 13, 2011
Renewable Diesel: Fueling the Future in a
Green Economy Joel Velasco
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Safe Harbor Summary
This presentation includes forward-looking statements that are subject to many risks and uncertainties. These forward-looking statements, such as statements about Amyris’s short-term and long-term growth strategies, total addressable market expectations, and efforts to develop and commercialize products, can sometimes be identified by use of terms such as “intend,” “expect,” “plan,” “estimate,” “future,” “strive,” and similar words. These statements involve many risks and uncertainties that may cause actual results to differ from what may be expressed or implied in these statements. These risks are discussed in Amyris’s Securities and Exchange Commission filings and reports, including the risks identified under the section captioned “Risk Factors” in its annual report on Form 10-K filed March 14, 2011 and its quarterly report on Form 10-Q filed May 11, 2011. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
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! Headquartered in California, Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-based products.
! Through our proprietary technology platform, we convert plant sugars into a variety of hydrocarbon molecules - flexible building blocks that can be used in a variety of markets, including cosmetics, flavors and fragrances, polymers, consumer products, renewable fuels and lubricants.
! Our innovation is the practical integration of biology with chemistry to create novel solutions to address global, regional and local challenges.
Amyris Leading the next generation of renewable products
RENEWABLE CHEMICALS AND FUELS
ANY BIOMASS FEEDSTOCK INDUSTRIAL SYNTHETIC BIOLOGY PLATFORM
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! Started in 2004 based on molecular engineering work from University of California - Berkeley Professor Jay Keasling’s laboratory
! Initially funded in 2005 by a grant from the Gates Foundation to develop a lower cost, consistent supply of artemisinin, key component of a malaria drug ! Every year, malaria kills 1 million people –
mostly children under the age of five in Africa ! Drugs exists but are in short supply and
unaffordable to poorest populations
! Expanded products to broad suite of petroleum replacements; issued patents covering diesel, jet, polymer and lubricant products
! Successful public offering in 2010 in the NASDAQ
! Marketing and distribution channels to deliver products in the United States and other global markets
Building of our Technology Innovation from the lab to commercialization
O
O
O
OO
H
HH
Artemisia annua Annual Wormwood
Amyris engineered yeasts Diesel precursor
Micrograph of fermentation fluids from production of Amyris Diesel
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Synthetic Biology: The Technology of this Century
FARNESENE C-15 (DIESEL)
YEAST CELL ISOPRENOID PATHWAY
ANTI-MALARIAL DRUG
ISOPRENE PINENE C-10 (JET FUEL)
SUGAR SOURCE
Synthetic Biology The Technology of this Century
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Our Vision How Amyris is enabling a bio-based economy
Bio-derived products
+
Jet fuel 2020 est: 124 BGY ($300B)
Hydrocarbon
products
+
Fermentation using Amyris’ engineered yeast
Oil
Traditional Fossil Fuels
Amyris genetically engineered yeast
= Petroleum products
Biomass Sugars
=
Refinery
Diesel 2020 est: 450 BGY ($800B)
Gasoline (Otto Cycle) Others to replace/reduce +20%
Chemicals Polymers, lubes & surfactants
Hyd
ro-p
roce
ssin
g
Cosmetics Squalane & Fragances
Anti-malaria drug non-profit: treat over millions
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Amyris Platform Producing High-Value Products Through Low-Cost Fermentation
High-Throughput Yeast Strain Design and
Testing
Demo Facility Campinas, Brazil
Pilot Plant Emeryville, CA
300 LITER
5,000 LITER
Contract Manufacturing (T&L in Illinois,
Antibioticos in Spain & Biomin in Brazil)
60,000 – 200,000 LITER
Capital Light Production
São Martinho JV (Target Q2 2012)
600,000 LITER
Pilot Plant Campinas, Brazil
300 LITER
Operating
Research Emeryville, CA
2 LITER
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Validated by external labs as a “best-in-class” product, meeting ASTM D975 fuel properties with zero sulfur.
Amyris diesel will be used in blends with conventional fuels; values shown for Amyris diesel is for biomass derived blending component.
+1
Amyris
Today’s Biodiesel
Petroleum diesel
47
58.6
40-55
Cetane Number Energy Density 1000 BTU/gal
118
123
115-142
0 50 100 150 0 20 40 60 -75 -50 -25 0
-9 to-30
Cloud Point degrees Celsius
Temperature below which wax in diesel form a cloudy appearance. Solidified waxes thickens the oil and clogs fuel filters and injectors in engines
Measure of fuel’s ignition delay – higher cetane number has lower ignition delay.
Amount of energy stored per unit volume – directly impacts miles per gallon (km per liter)
Amyris
Today’s Biodiesel
Petroleum diesel
Amyris
Today’s Biodiesel
Petroleum diesel
< – 50
Amyris Renewable Diesel Approved by EPA for 35% Blends
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-1.9% -4.7%
-12%
-0.11%
+2.0%
-15%
-10%
-5%
0%
5%
10%
15% 5% 20% 50% 20% 20%
Cha
nge
vs. B
asel
ine
NOx
-1.5%
-5.7%
-3.1%
-10.1% -12%
-10%
-8%
-6%
-4%
-2%
0% 5% 20% 50% 20% 20%
Cha
nge
vs. B
asel
ine
PM
-6.6% -3.6%
-12%
-20% -21% -25%
-20%
-15%
-10%
-5%
0%
Cha
nge
vs. B
asel
ine
HC
-2.1%
-7.1%
-15% -15%
-11%
-15%
-12%
-9%
-6%
-3%
0%
Cha
nge
vs. B
asel
ine
CO
% FAME in Fed. Diesel*
% Amyris in Federal Diesel*
% Amyris
in CARB Diesel*
* Detroit Diesel Series 60 engine (5 gram NOx) no EGR , tested at SwRI May 2008 ** Source: EPA (http://www.epa.gov/otaq/models/analysis/biodsl/p02001.pdf)
% FAME in Fed. Diesel*
% Amyris in Federal Diesel*
% Amyris
in CARB Diesel*
-0.26%
Amyris Renewable Diesel Significant reductions in NOx, PM, CO, and HC emissions - OEM validated
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! Derived using diverse, sustainable feedstocks – Direct sugar to hydrocarbon fermentation
! Hydrocarbons, not alcohols or esters
– Can be used in existing engines with no performance trade-offs
– Can be delivered using existing distribution infrastructure
! Superior properties – No sulfur – Lower particulates, HC, CO and NOx – Excellent cold flow characteristics – Comparable energy density – 80%+ lower GHG emissions than fossil fuels
! OEM Validated – Cummins – Mercedes Benz – Volkswagen
Amyris diesel fuel (clear) in front; petroleum diesel (yellow) in the back
Amyris Renewable Diesel No Compromise™ Fuels: Drop-in and Better Performance
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! Syrups and Juice – Sorghum Syrup
• (Ceres, USA) FL and TN – Cane Syrup
• Florida-derived
! Hydrolyzates – Sorghum Bagasse
• NREL, USA, FL and TN
Sweet Sorghum
Sugar Cane
Sorghum Bagasse
Amyris Fuels Domestic feedstocks under evaluation with Dept of Energy
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U.S. R&D, Production & Processing Existing facilities in the United States