Hans van der Pol , Ph.D.

Strategic Marketing Director New Business Ventures

CORBION: DEVELOPING A BIOBASED PORTFOLIO

Bio‐2014 PhiladelphiaMay 12‐15, 2014

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o Corbion:• A Dutch multinational formed by former Purac and Caravan Ingredients• Headquartered in Diemen, The Netherlands• Listed at Amsterdam Stock Exchange (Corbion)• 2013 turnover € 744 million• 1900 employees, 200 in R&D

o Focus on:• Natural food preservation• Biobased building blocks & chemicals• Monomers for bioplastics

o 80 years of experience in the development, production and marketing of natural and biobasedchemicals 

o Global sales network & manufacturing footprint

Corbion‐Purac profile

“Designed by Science, Powered by Nature and delivered through dedication”

2 May 12‐15, 2014

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Corbion‐Purac Solutions address Megatrends 

Resource scarcity

Population growth

Food security

FOOD ingredientsprovide safe and healthy 

food for a growing population, while 

preventing food waste

BIOCHEMICALSprovide solutions based on 

renewable materials and resource efficient 

processes

Corbion

3

Source of graphics: KPMG 2012, Expect the Unexpected

May 12‐15, 2014

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Corbion Portfolio Development: from Promise to Delivery

4

Lactic acid and lactates

Succinic acid

Building on Corbion Purac core capabilities • Fermentation and down‐stream processing• Salt‐free production of organic acids• Purac global production sites & network

Partnership with:

L and D‐Lactide

Acquisition

2014

FDCA

Propionates

Manufacturing:

o Globally

o Thailand(75 kton)

o Spain (Montmeló)

Partnership with:

2010

> 80 years experience 

May 12‐15, 2014

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………

FDCA

Corbion Technology Synergies

5

Succinic acid

upstream

non‐food feedstock

downstream

salt free

80 years

bio basedbuilding blocks

C5‐C6sugars

• Detoxification• C5 fermentation• C6 fermentation

D (‐)

Adapted

DSP

5

May 12‐15, 2014

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………

FDCA

1. Lactides and PLA

6

Succinic acid

upstream

non‐food feedstock

downstream

salt free

80 years

bio basedbuilding blocks

C5‐C6sugars

D (‐)

Adapted

DSP

6

May 12‐15, 2014

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Start with the best Biobased Building Blocks:Stereochemically pure monomers make the difference

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L‐lactideD‐lactide

L‐lactic acidD‐lactic acid

O

O

O

O

(R,R)- lactideor D-lactide

O

O

O

O

(S,S)- lactideor L-lactide

O

O

O

O

(R,S)- lactideor meso-lactide

Building blocks used to make PDLA and PLLA homopolymers

May 12‐15, 2014

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Time

Durables

Semi‐Durables

Disposables

Value & Performance

8 May 12‐15, 2014

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Business development Lactides for PLASolution provider and enabler for Lactic acid  based Bioplastics

9

o 1983 Purac introduces PLA for the biomedical marketo 2008 5ktpa Lactide monomers plant in Spaino 2009 PLA polymerization developed with Sulzer (CH)o 2010 First commercial PLA plant installed at Synbra (NL)o 2011 75 ktpa Lactide monomers plant in Thailando 2013 Several partnerships announced at K-show

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May 12‐15, 2014

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PLA Resin – SUPLA

SUPLA has started construction of a 10kT/y PLA facility

• Start of production Mid 2014• Lactide monomers supplied 

by Corbion to make PLLA• Located in China• Samples available for

pre‐market launch

Benefits:• PLLA for short cycle time• High stereochemical purity• Using GMO free biomass

SUPLA: high heat PLA for durable anddemanding applications, such as automotive and electronics parts

Sugar feedstock LA & Lactide production

PLA polymer production

Compound production

Conversion to products Brandowner Retailer Consumer

10 May 12‐15, 2014

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………

FDCA

11

Succinic acid

upstream

non‐food feedstock

downstream

salt free

80 years

bio basedbuilding blocks

C5‐C6sugars

D (‐)

Adapted

DSP

11

2. Succinic Acid

May 12‐15, 2014

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Succinic Acid: The Market Calls

1 I Biodegradable Polymers

3 I Plasticizer 4 I Polyurethanes

BiobasedSuccinic AcidApplications

2 I Pigments

May 12‐15, 2014

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Expanding portfolio with Succinic acid by combiningCorbion and BASF biotech and chemtech capabilities

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o Leading global position in lactic acidand its derivatives for preservation, bioplastics and biobased chemicals markets

o Leading edge industrial fermentation and downstream processing know-how

o Existing manufacturing facilities for succinic acid production

o Largest and most experiencedglobal producer of chemical intermediates

o Strong succinic acid fermentation know-how

o Downstream market expertise

BASF / Corbion : strong combination to developBiobased Succinic Acid as platform chemical

May 12‐15, 2014

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Highly efficient Production process for Succinic acid

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BASF/Corbion strengths: o High performing proprietary microorganismo Innovative downstream purification processo Better eco‐efficiency compared to fossil production 

processes through:• CO2 fixation• Use of renewable resources • Lean and efficient process

Targets:o Start of new production: Q1/2014o Market development ongoingo C5/C6 substrates from biomass

Biomass/carbohydrates + CO2

Various applications

Succinic Acid

Bacteria convert sugars and biomass into succinic acid

Isolation of succinic acid from fermentation broth

May 12‐15, 2014

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………

FDCA

15

Succinic acid

upstream

non‐food feedstock

downstream

salt free

80 years

bio basedbuilding blocks

C5‐C6sugars

D (‐)

Adapted

DSP

15

3. FDCA

May 12‐15, 2014

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Bio‐FDCA to PEF Bottle Value Chain

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Sugars, starch or Biomass

C6Sugars

HMF Production

FDCAProduction

FDCARecovery

PEFPolymer

Production

PEFConversion

Brand‐owner

Retailer 

Consumer

Technology development Business development

May 12‐15, 2014

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Meeting unmet needs in polymer

applications

o Enhanced gas barrier propertieso Mechanical propertieso Favorable carbon footprint/LCAo 100% Biobased

Applications and Benefits of FDCA in polymers

PEF bottles Resins Coatings

May 12‐15, 2014

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non‐food feedstock

………

FDCA

4. Platform technologies

April 25‐28, 201418

Succinic acid

upstream downstream

salt free

80 years

bio basedbuilding blocks

C5‐C6sugars

D (‐)

Adapted

DSP

18

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10 kTon/yr Demo Plant

Start‐up July 2013

Product within specifications

Running within >95% of design specifications since early August 2013

Demonstration plant for gypsum‐free Lactic Acid process in Gorinchem, NL

19 May 12‐15, 2014

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Lime

Sugar Gypsum Co-Products

fermentation Acidification Purification

Sulphuric acid Energy

Current Lactic Acid Production

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Lactic

acid

May 12‐15, 2014

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Lactic

acid

Biomass Gypsum Co-Products

fermentation Purification

Energy

Future Lactic Acid production with Corbion’sproprietary technology

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Acidification

May 12‐15, 2014

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Cellulose options in the Pipeline: co‐products from Industrial Production 

22

Empty corn cobs WoodBagasse

Corbion's assets in 2 G Biomass value chain• Superior Process performance Lactic Acid vs. Bio Ethanol• Biomass scouting & evaluation• Pretreatment Technologies scouting & evaluation• Fermentation and tailor made strain development• Pilot and Demo capabilities

May 12‐15, 2014

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o Corbion is investing several million Euro in next generation feedstock development with various partners:

o Bio Process Facility (BPF) 

o BE‐Basic R&D program 

• Global Industrial, Academic & Financial Partners

• Corbion is Research Member

o Oil Palm Biomass Centre (OPBC)

o Kluyver Centre

o VITO

o Institute for Sustainable Process Technology (ISPT)

o Dutch Separation Technology Institute (DSTI) 

o BioBase Europe (BBE)

Corbion participates in various Programs focused at Biorefinerydevelopment

23 May 12‐15, 2014

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Summary and Conclusions

Corbion has strong foundation in lactic acid Fermentation technology Down‐stream processing 

A worldwide efficient supply chain drives lower cost Balance between high volume/low cost and flexible production units Capacity extension in Lactic Acid production required coming years to support continued growth New developments:

- Gypsum free process to reduce raw material usage and lower cost- Flexibility in raw materials , to reduce vulnerability to raw material prices and lower cost- Production of new organic acids

Sustainability‐driven innovations are translated into concrete businesses L‐Lactic acid and D‐Lactic acid for expanding range of applications Lactides for PLA and chemical building blocks Succinity JV with BASF for biobased succinic acid  Building on core competences with FDCA development Expanding businesses through use of 2nd generation feedstocks

24 May 12‐15, 2014

“Designed by Science, Powered by Nature and 

delivered through dedication”

Bio‐2014 PhiladelphiaMay 12‐15, 2014