The LanzaTechprocess is driving innovation - Energy

1 The LanzaTechprocess is driving innovationGas Feed StreamGas ReceptionCompressionFermentationRecovery ProductTank Process recycleswaste carbon into fuels and chemicals Process brings underutilized carbon into the fuel pool via industrial symbiosis Potential to make materialimpact on the future Energy pool (>100s of billions of gallons per year)Novel gas fermentation technology captures CO-rich gases and converts the carbon to fuels and chemicalsProprietaryMicrobeGases are the soleenergy and carbon sourceCOCO + H2CO + H2 + CO2H2 + CO2e-+ H2O+ CO2 Industrial Waste GasSteel, FerroalloysWaste Carbon Streams as a Resource for Gas FermentationBiogasSolid WasteIndustrial, MSWB iomassCO2 ReformingGasificationGas Feed StreamGas ReceptionCompressionFermentationRecovery ProductTankData: IEA, UNEP, Index Mundi, US DOE Billion Ton Update,2010 global production; 2012 proven gas reserves data Available High Volume/ Low Intrinsic Value Non-Food Most point-sourced Gases are the soleenergy and carbon source Pure continuous processAcetogenicMicrobeLiewet al.

2 , 2016, Gas Fermentation A Flexible platform for Commercial Scale Production of Low Carbon Fuels and Chemicals from Waste and Renewable Microbiol7: flexibility = feedstock flexibilityCO + H2O CO2+ H2[H2] H2: If H2is not available in the feed gas, the microbe can make H2 from CO and H2O as H2: Excess H2can be used to fix the carbon in carbon retention in presence of H2 Any CO:H2ratio can be usedReady Now: Scale-up of the LanzaTechTechnologyCommercial Reactor Scale-up Factor Less Than What Has Been Proven at Demo ScaleLab2005 Pilot200850 XDemo201232 XCommercial201625 XStrainDevelopmentState-of-the-art gas fermentation facilities with over 40 dedicated reactors Complete gas composition flexibility Online analytics and control (gas, biomass, metabolites) Multiple reactor configurationsIndustrial waste gases: Are there Enough to make an Impact? Significant Value EnhancementIntegrates into industrial infrastructureRefinery Waste Gas: 5B gallons/yearSteel:30B gallons/year7 China: Scorpions, Drinking, and DealsGlobal Technology Lab.

3 Data, Data, DataKaoshiung, TaiwanS/U: Q1 2014 Caofeidian, ChinaS/U: Q1 2013 Shanghai, ChinaS/U: Q1 2012 Glenbrook PilotAuckland, NZS/U: 2008 Freedom PinesSoperton, GAS/U: 2013 Multiple plants at various scales all demonstrating differentkey aspects of processAsiaS/U: Q4 2014 MSW855,000 combined hours on streamMultiple runs exceeding 2000 hoursConfidentialRecycling CarbonGas fermentation technology converts C-rich gases to fuels and chemicalsPerformance milestones achieved and exceeded for >1000 hoursat 100K GPY (~400 KL/yr)Gas Feed StreamCompressionFermentationRecoveryPro ductTankProprietaryMicrobeConfidential 10 MSW to fuelProject overviewLanzaTech has a two year partnership with a major Asian chemical company to convert live-feeds of syngas produced from municipal solid waste (MSW) into has designed, installed, and operates a pilot plant producing ethanol at a MSW processing plant at gasification siteLanzaTech s Modelling CapacityEnzyme Kinetics Context-dependent reaction rates Substrate inhibition Multiple reactantsMetabolism Substrate uptake and cell growth Product formation and selectivity Different culturing conditionsGas-Liquid mass transfer Interaction with reaction kinetics Interaction with hydrodynamicsMultiphase flow hydrodynamics Flow regimes and void fractions Mass transfer areaValidation of Reactor Technology = 6 CO utilisation of existing LanzaTech reactors compared with theoretical : 2010 Design: 2010; Design: 2012 Design: 2014.

4 Design: 2010-2012*NOTE: kL*(1-Sat%) is a dimensionless parameter that combines everything that affects mass transfer, including pressure, gas holdup, bubble size, gas flow per liquid volume, dissolved gas concentration, is percentage saturation of the gas in genome-scale model summarySynthetic Biology Capabilities Advanced genetic toolbox in place Unique genetic toolbox for gas fermenting organisms developedReduces time and costEnsures efficient strain construction Liewet al., 2016, Gas Fermentation A Flexible platform for Commercial Scale Production of Low Carbon Fuels and Chemicals from Waste and Renewable Microbiol7: al., 2016, Genome editing of Clostridium autoethanogenumusing CRISPR/Cas9. BiotechnolBiofuels 9: design Computer aided design tools (BioCAD) Predictive Metabolic model Validated DNA design algorithms (Codon Usage & RBS) Metabolic knowledgebase for identification of new pathwaysEfficient genome editing Robust transformation method Scarlessgene knock-out and/or Integration (Proprietary tools & CRISPR)Comprehensive genetic parts library Modular vector system Validated genetic control parts (promoters, library)

5 Antibiotic free markersAutomated construction Automated DNA construction using robotics Advanced sequencing capabilities to QC and troubleshoot strainsRobust DNA transfer Scalable electroporation and conjugation methodsReduces time and costEnsures efficient strain constructionEnsures efficient strain construction 1 Organism, over 20 Acids,TerpenoidsAromaticsEthanolSuccinat eLactate2,3-ButanediolBiodiesel3-Hydroxy propionateIsopropanolAcetone3-Hydroxybut yrate1,3-ButanediolJointDevelopmentIsobu tene1,3-ButadieneBiopolymersBranched-cha in Amino AcidsMethyl Ethyl Ketone2-ButanolAcetoin1,2-Propanediol1-P ropanolJetIsopreneAromatics1 platform , >30 (R), (S), mixed isomers(R), (S), mixed isomers1-ButanolButyrate(R,R), meso, mixed isomersValine, leucine, Isoleucine(R), (S), mixed isomersBenzoate (p-hydroxyl, 2-amino, dihydroxy), salicylateFarneseneMevalonateFAEE, FABEC itramalateLong chain alcoholsAcetone100%1%SelectivityFrom Mill to Wing-An ATJ PathwayEthanol Lanzanol Chemical ConversionDiesel & Jet Fuel 4,000 gallons of on-spec jet and 600 gallons of diesel producedExcellent analytical and Fit for Purpose results Phase 1 Research Report Submitted$4M DOE AwardRSB-certified facilityChinaConfidential Integrated Multi-Scale PlatformIndustrial provenhost strainIntellectual Property>200 granted patents on all aspects of processEfficient genetic toolboxScalable reactor designsProcess optimization and scale upIntegrated models and algorithmsConfidential 18 Advanced renewable fuels and biochemicalscompany Operating facilities: 60M gpy1G EtOHfacility in CA 50M gpyBiodiesel facility in India Vision to convert 1G to advanced 2015 revenues.

6 $147M Headquartered in Cupertino, CA Project funding in progressAemetisProject Location Modesto, CAFeed GasBiomass syngasEtOHProductionCapacity8M gpyBecome leading Cellulosic EtOHproducer in USAemetis BackgroundCommercial Scale FacilitiesCaofeidian, China16M gallons/year2017 Gent, Belgium21M gallons/year2018 Confidential Steel Mill Value PropositionLanzaTech business case: Providing 2x More returns from ethanol than from $/Cubic Meter Gas20 Confidential Steel MillSteelproductionWasteGasesBroader Environmental ImpactLanzaTechProcess emits 33% less CO2than electricity generation per MJ Energy recoveredNOx&ParticulatesLanzaTechProces s emits ~40% less NOxand ~80% fewer particulates than electricity generation per MJ Energy recoveredGridElectricityGenerationElectr icityLanzaTechProcessEthanolGasoline Pool (Displacement)Carbon is Only Part of the Story21 RecyclingGases: Environmental, Economic, Social BenefitAdditional 3rdParty Life Cycle Analyses (LCA) Michigan Tech University Roundtable on Sustainable Biomaterials (RSB) Ecofys Tsinghua University50-80% GHG Reduction overPetroleum GasolineWaterRecycleNo LandBiodiversityProvides economic development that creates green jobs Provides affordable options to meet growing demandProvides Energy security from sustainable, regional resourcesProvides new revenue stream from waste FuelLanzaTech EthanolgCO2e/MJLifecycle GHG EmissionsWhat Do you want to make Today?

7 Steel in the ground is hardware Same reactor vessel Same feedstock Minor changes in separationOn-demand software upgrades using the same hardware Minor: Improved efficiency Major: New product moleculeParadigm Shift: chemical production plants that rapidly react to market conditions Avoid the cycles Challenge: Peterochemicalprice volatility0100200300400500 IPEX Index (Jan 1993=100)Petrochemical Index (IPEX)Source: ICIS199319951997199920012003200520072009 20112013 Disrupting Market Cycles EthanolDISRUPTION = 1) Rapid Reaction toFluctuating Chemicals Market 2) Feedstock Commodity Same reactor Same operating conditions Same feedstock hardware software improved efficiency, tolerance, selectivity new product moleculeMicrobe to a Circular Economy is KeylinearcircularConfidential A Carbon Smart WorldBiofuels From Recycling of Atmospheric CarbonOrganicCarbon in biofuelInorganicCarbon (CO2) in airOrganicCarbon in plant, algae, cyanobacteriaConversionin biofuel processProprietaryInorganic Carbon (CO, CO2) from flueOrganicCarbon in biofuelInorganicCarbon (CO2) in airOrganicCarbon in plant, algae, cyanobacteriabacteriaConversionin biofuel processBiofuels from Recycling of Waste Carbon(Potential: Billion gallons/year in the S)Example: Recycling WasteGases with Bacteria.

8 Ready Today (>40,000 hours on stream @ demo scale)29 WaterRecycleNo LandBiodiversityProvides economic development that creates green jobs Provides Energy security from sustainable, regional resourcesAn inclusive approach furthers the purpose of The Energy Independence and Security Act (EISA) Energy Environmental EconomicRecycleMakeCCU CCS Enabling the Circular EconomyFuel from CO2: A path to carbon neutrality?CO2is fixed into fuels and materials using unlimited lowest cost sustainable electricity: Domestic production, No crops, No landSustainable electricity:Electrolysis:Electricity to syngas conversionIndustrial CO2emissions. LanzaTechEfficient syngas conversion Chemicals&FuelsCO2H2 WindSolarCO Steel, Cement Refineries CO2H2 OWaterSyngasfrom sustainable power water and CO2CO2 COO22CO2-> 2CO + O2CO2 DiffusionAdapt and adopt from othersContinuous improvement at scaleCrossing the Valley of DeathEvolutionEase of fundingPilot and DemonstrationFirst CommercialApplied R&DEngineering DevelopmentDiscoverySustainable enterpriseConfidential Questions?