Gasoline from Wood Waste
Gasoline from Wood Waste
A Year in Review
Presented by: George Stanko, President
June, 2012
Recap of CORE BioFuel
 CORE’s mission: develop chemical products from biomass
feedstock without fossil fuels
 Our first project will develop a patent-pending process to
produce carbon neutral 92 octane gasoline from wood
feedstock
 Gasoline from wood is a well-timed solution:
 need to reduce fossil carbon emissions;
 crude oil is scarce and becoming difficult to extract,
 motor vehicle industry is geared to produce combustion engines
which burn gasoline
 We planned to build our first commercial plant in B.C and are
evaluating other sites in Canada
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Technology: status update
 In 2011 Technip, Inc., a global engineering firm,
completed a 3rd party technical review and
engineering feasibility of the process
 The Report was favorable and Technip has since
been engaged by CORE in a Service Agreement
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Update on Promotion
 CORE has a new logo
 We have a revised process diagram (see next
slide)
 Our website has been improved and updated
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Canadian Gasoline Market
 Gasoline and diesel are the most widely used
transportation fuels
 Infrastructure, supply & distribution is complex and
extensive
 Nearly 200 million litres a day of petroleum-based fuels
are pumped into Canadian cars and trucks
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Update on Financing
CORE Investment

Investment through CORE Limited Partnership has
been successful - the 2nd offering has not yet been
filled

CORE continues to pursue funding sources -government and the private sector

CORE is seeking a Strategic Partner
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Update on Intellectual Property
 Patents are pending in Canada, the U.S.,
European Union, and India
 All applications are waiting for prosecution
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Comments on Competition
 CORE is not aware of other attempts to produce gasoline
from DME
 Several companies have stated intent to produce gasoline
from “bio-crude” (KiOR, Licella (Australia))
 Others claim to produce fuels from syngas generation (Cool
Planet Biofuels, Primus Green Energy)
 Volvo and Chemrec have teamed up to construct a
commercial plant to produce DME from synthesis gas
generated from the gasification of black liquor
 Haldor-Topsoe is developing their TIGAS process which
closely resembles the MTG process (methanol-to-gasoline)
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Bankable, Insurable and Marketable
 Through Stern Brothers, The Export Import Bank of
America has given CORE a letter of interest for
biorefinery debt financing
 AON will place Risk Mitigation insurance for the
biorefinery, featuring Performance Guarantee insurance
 Off-take agreement: Elbow River Marketing will
purchase 100% of the output of the CORE green
gasoline biorefineries
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Update on Timeline
2012
2013
2014
2015
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Pre FEED and FEED
Construction Engineering
Plant Construction
Plant Commissioning
Fixed Price
 Timeline assumes funding is acquired by Q3 of
2012
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CORE’s Competitive Advantage
$CDN / litre
CORE’s production cost
0.39
Canadian 2011 average wholesale*
0.87
*According to Natural Resources Canada, refinery
shutdowns in eastern US and pipeline bottlenecks for
western crude will cause supply issues which will increase
wholesale prices in Canada starting in August, 2012
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Capex and Profitability
Capital Cost of the 1st Plant
$ 110.9 million
Capex per litre
$ 1.63
Revenue from Sales
$ 53.4 million
Cost of Wood
$ 13.6 million
EBITDA
$ 24.7 million
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Visualized Progress
Construction Engineering with
Technip - EPC Fixed Price
Contract $ 12,000,000
Plant Licensing
“Construction ready license”
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OPTIONS
Build, Own, Operate
$ 25 MM Equity
$ 74 MM Debt
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CORE BioFuel Inc.
Questions or
comments ?
Visit our website:
www.corebiofuel.com
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