gas to jet platform

Asia Pacific Clean Energy Summit

Defense Energy Technology Challenge

Hawaii Convention Center

Honolulu, Hawaii

September 13, 2011

© 2011 LanzaTech Inc. All rights reserved.

Dr. Jennifer Holmgren

CEO, LanzaTech Inc.

Company Profile

 Founded in January 2005

 Funding

– New Zealand Government – $US 10M

Series A: Khosla Ventures - $US 12M in 2007

– Series B: Qiming Ventures - $US 18M in 2010

 Team

CSO/Founder: Dr. Sean Simpson

80 staff

– Synthetic Biology

– Analytical

– Engineering

– Auckland (New Zealand),

Chicago (USA) and

Shanghai (China)

 IP Portfolio

– >60 patents filed

– 2 proprietary microbe families

2

The LanzaTech Process

Novel gas fermentation technology captures CO-rich gases and converts the carbon to fuels and chemicals

Gas feed stream

Gas reception Compression Fermentation Recovery Product tank

Gases are sole source of energy and carbon

Production of fuels and chemicals

Potential to make material impact on the future energy pool

(>10s of billions of gallons per year)

Completely outside of the food value chain

Biofuel, carbon capture and energy efficiency technology solution

3

Potential for Significant Impact

Ethanol Potential

From LanzaTech Process

1.4 billion tons steel/yr Globally

30 billion gal/yr

Steel

Industry

Biomass

1.3 billion tons/yr potential in US

190 billion gal/yr

Access to opportunity and on purpose derived gas streams

Potential to make significant impact on the fuel pool

No impact on food production

4

A Fast Path to Commercialization

Pilot Demonstration Commercial

2008 4Q2011

– 15,000 gallons ethanol per year

BlueScope steel mill, NZ

– Operating since 2008

– 100,000 gallons ethanol per year

– Baosteel

March 27: Ground breaking

1Q2013

– > 50 million gallons per year

Baosteel

Commercial Production by 2013

5

Energy Efficient Carbon Capture

0,7

0,6

30% of Carbon in

BOF gas is

Captured as

Ethanol

0,5

0,4

0,3

0,2

0,1

0

Conventional, No

Capture*

Conventional, CO2

Capture*

IGCC-O2, No

Capture*

IGCC, CO2 Capture* BOF Gas to

Electricity, no

Capture

*Reference: DOE/NETL2007/1281 “Cost and Performance Baseline for Fossil Energy Plants”

BOF Gas to Ethanol

 LanzaTech process produces valuable products with a higher energy efficiency than a power plant

 LanzaTech captures 30% of the carbon from BOF (Basic Oxygen

Furnace) gas as valuable hydrocarbons

Redefining Carbon Capture

6

LanzaTech Gas to Liquid Platform

Resources CO

Industrial

CO

H

2

Syngas:

Biomass, Coal, Methane

H

2

CO

2

COG, Chemical

CO

2

Power

Customized

Catalysts

Native

Synthetic

Engineering

Control

Chemistry

Product Suite

Product Suite

C

2

• Ethanol

• Acetic acid

Hydrocarbon Fuels

(diesel, jet, gasoline)

C

3

• i -propanol

• acetone

C

4

• BDO

• n -Butanol

• i -Butanol

• Succinic acid

C

5

• Isoprene

Thermochemical Approaches

Chemical

Intermediates

Olefins

Other

• PHB

• …….

Chemicals

7

Integrated Hydrocarbon

Fuels Process

* Gas Feed Stream

Gas Reception Fermentation Recovery Alcohol

Mixture

Chemical Synthesis Rectification Diesel

15%

Gas Feed Stream

• CO from Industrial Waste Gases

• Syngas from Biomass, MSW, Reformed Natural Gas or Other Sources

Jet Gasoline

50% 35%

Novel Route to Drop in Hydrocarbon Fuels

Key Enabler: Price and Availability of Alcohol

8

LT –SB SPK Sample Properties

Property

Total Aromatics, volume %

Freeze point, ° C

Flash point, ° C

Density at 15 ° C, kg/L

Heat of combustion, MJ/kg

Hydrocarbon Type Analysis

Aromatics, volume %

Aromatics, mass %

Cycloparaffins, mass %

Paraffins

API Gravity at 60 o F

Olefins, % volume

Test Method D7566 Sample

D1319

D5972

< 25

< -40

0.6

< -77

D93 > 38 54

D4052 0.751 - 0.770

0.762

D4809 > 42.8

43.5

D6379

D2425

D2425

D2425

D1298

D1319

< 0.5

< 0.5

< 15 report

52 - 57 report

< 0.2

< 0.3

8

91

54.2

1.0

Key Properties Confirmed

9

Greenhouse Gas Emissions

• RSB Criterion 3c Lifecycle greenhouse gas emissions of a biofuel blend, calculated by using the RSB lifecycle methodology, shall be on average

50% lower than the applicable fossil fuel baseline.

• LanzaTech Basic Oxygen Furnace (BOF ) Gas Process ~ 60% reduction

– Based on LCA analyses performed by Michigan Technological University and Tsinghua University relative to petroleum gasoline

80

60

40

20

160

140

120

100

104

145

131 Life Cycle GHG

Emission

69

62

41

 LanzaTech Case 1:

Steam Generated for Ethanol Recovery

LanzaTech Case 2:

Waste Heat from Steel Mill used for

Ethanol Recovery

0

Conventional

Gasoline

Sweet

Sorghum

Corn Cassava LanzaTech

(Case 1)

LanzaTech

(Case 2)

• LanzaTech Waste Biomass Syngas Process In progress

Based on a custom pathway in the GREET model, initial results have shown >80% GHG reduction relative to petroleum gasoline

GHG footprint is <50% of the footprint of producing petroleum fuels

10

Fuel Readiness Level: Swedish

Biofuels Alcohols and Process

FRL

9

Description

Production Capacity

Established

Toll Gate

Full Scale Plant Operational

SB

TBD

8

7

6

Commercialization

Validated

Fuel Approval

Full-Scale Technical

Evaluation

Business model validated and

GHG assessment accepted

Fuel Class/Type listed in manuals

Fuel properties, Rig and engine testing

5 Process Validation

4

Preliminary Technical

Evaluation

Scaling from Laboratory to Pilot Plant

Specification Properties

Evaluated

3 Proof of Concept Basic Fuel Properties validated

2

Technology Concept

Formulated

Complete feedstock process identified

1

Basic Principles

Observed and Reported

Process feedstock principles identified

In

Progress

In

Progress

In

Progres

FRL

6

11

A Hybrid Catalytic Route to

Fuels from Biomass Syngas

Project Objective: develop a cost-effective hybrid conversion technology for catalytic upgrading of biomass-derived syngas to jet fuel and chemicals to meet the price, quality and environmental requirements of the aviation industry

Wood

Stover

Switchgrass

Gasification

& Syngas

Conditioning

EtOH

Fermentation

& Alcohol

Recovery

2,3BD

Catalysis

Catalysis

Integration

System Integration, Optimization and Analysis

Gasoline

Jet Fuel

Diesel

Butadiene

MEK

Improve Economics and Process Sustainability

Rapid Deployment

Steel

Minimal competition for industrial waste gases only alternatives are cogen or heating

Multiple plants per partner

Refining

Chemicals

Coal

Biomass

Potential >350 M gal/yr from existing agreements/MoUs

Global Recognition

2011

• Dr. Sean Simpson was named NZ

Entrepreneur Of The Year in the Technology and Emerging Business Category

• 2011 Frost & Sullivan Global Green

Excellence Award for Technology Innovation in Green Chemistry

• Ranked 27 in Hot 30 Renewable

Chemicals Companies

• Finalist ICIS

Innovations Award,

Best Innovation by a SME

• TiE50 for energy and cleantech

• The top 50 represent the best in entrepreneurship –

“risk-taking yet pragmatic, visionary but market aware”…

The global Red Herring Top 100, which recognises LanzaTech as one of the 100 most innovative new technology companies.

Double Win for LanzaTech

• 2011 NZBIO Company of the Year

• Cofounder and chief scientist

Dr. Sean Simpson won the NZBIO

2011 Young Biotechnologist of the Year Award

Triple Win for LanzaTech

• Ranked 38 in Top 100 people in Bioenergy

• Ranked 31 in Top 50 Companies in Bioenergy

• Technology of the Year Award

Ranked among the top 100 private companies in Asia.

Ranked among the top 100 private companies globally.

The Global Cleantech 100 highlights the most promising private clean technology companies around the world.

2010

14

A Sensible Path…

Waste for Energy

Aligns:

Allows:

Industrial

Growth

Land

Energy

Security

To Produce

Food

Energy

Efficiency

For People

15

Summary

• To meet growing energy demand & stabilize atmospheric

CO

2 levels - need to diversify fuel pool and introduce

>30% drop in zero carbon fuels

• The LanzaTech process can capture non-food, waste carbon to produce low cost alcohols

• Alcohols produced via the LanzaTech process are an excellent substrate for conversion to drop-in hydrocarbon fuels

• Commercial alcohol production rates on raw industrial waste gases has been demonstrated at scale

• Compelling volumes of waste gases world wide have potential to make significant impact on the fuel pool

• Collaborating with leading conversion partners, industry agencies, and certification bodies to develop sustainable, low cost, integrated hydrocarbon fuels processes from non-food sources

16