© 2012 LanzaTech Inc. All rights reserved.

Novel Chemical Production from Gas Fermentation

Platts Renewable Chemicals Conference October 18, 2012 Houston, Texas

Carl Wolf LanzaTech Inc.

Predictions are simply extrapolations

of the past…

…innovation expands

the ‘art of the possible’

…today’s ‘unimaginable’ is

tomorrow’s ‘conventional wisdom.’

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Novel Approach to Biofuels and Chemicals

Biochemical Conversion

Thermochemical Conversion

Lipid Conversion

Gasification

Fast Pyrolysis

Fischer Tropsch

Alcohol Synthesis

Catalytic Upgrading

Diesel, Jet

Gasoline

FAME, FAEE

Enzymatic Hydrolysis Fermentation Alcohols, Chemicals Separation

Gasoline, Diesel, Jet

Alcohols

Oil Extraction

Trans-esterification

Hydrotreating/Hydrocracking

Liquid Bio-Oil

Lignin, Cellulose, Hemicellulose

Enzymatic Conversion

Starches

Sugars

Fermentation Alcohols, Chemicals

Gas Fermentation

Separation

Catalytic Conversion Gasoline, Diesel, Jet Industrial Waste Gases (CO, CO/H2)

Natural Oils

Syngas

Algae

Portfolio of Options 3

Gas feed stream

Gas reception Compression Fermentation Recovery Product tank

Novel gas fermentation

technology captures carbon-

rich gases and converts them

to fuels and chemicals

The LanzaTech Process

• Gases are sole source of energy; completely outside of the food value chain

• Potential to make material impact on the future energy pool (>100s of billions of gallons per year)

• Production of fuels and chemicals

• Biofuel, carbon capture and energy efficiency technology solution

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C4

• BDO

• n-Butanol

• i-Butanol

• Succinic acid

LanzaTech Gas to Liquid Platform

H2 CO CO H2 CO2 CO2

Native

Synthetic

Engineering Control Chemistry

Customized Catalysts

C2

• Ethanol

• Acetic acid

C3

• i-propanol

• Acetone

C5

• Isoprene

Other

• PHB

• …….

Resources

Product Suite

Product Suite

Thermochemical Approaches

Olefins Chemicals Chemical

Intermediates

Hydrocarbon Fuels (diesel, jet, gasoline)

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Gas to Fuels and Chemicals Platform

Ethanol

2,3- BDO

Pilot/Demo

Lab

Acetone Isopropanol

Butanol

Discovery

Succinate

Target

Isobutylene

CO/H2 Pyruvate

Acetyl-CoA

Proprietary host organism and genetic toolbox:

Reliable transformation system

Vector/Promoter/Parts Library

Knock-Out/Integration tools

CSTR

Pre-commercial plant

16,000 L Vessel

Q1 2012 Start-up

Clear Path to Scale

Bench top

1-10L vessels

Scalable design

Up to 100L capacity

NZ Steel mill pilot

2 x 500L Vessels

Reproducible & consistent data at each reactor scale

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Strain Development

Lab Pilot Pilot Demo

Getting to Relevant Scale

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Renewable Chemicals Market

~$100B market by 2020

NA/WE and AP major growth areas

Chemical majors pursuing green strategy as a corporate vision:

– Carbon foot print

reduction

– Feedstock

diversification

No mandates or tax incentives; substitution must be cost competitive

Green Chemical Market by Region

World Markets: 2011-2020

Platform Chemicals as Partners to Fuels Production

Business Confidential 9

Pet Coke

Natural Gas Biomass

Municipal Waste

~90M MTA

Accessible Feedstock Pool

CO

CO + H2

3300B M3

>2B MTA

>1B MTA US Alone

*2010 production data – IEA, UNEP

CO2 + H2

Flue Gases

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Product Portfolio

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Hydrocarbon Fuels

Butanol Propanol

Butanediol

Ethanol

~1.7M bpd

~5.5M bpd

~51M bpd

~8.5M bpd

*2010 global consumption data -Harts, IEA

~4 M MTA

~50 M MTA

Ethanol

C4 Chemicals from Gases

OH

H3C

OH

CH3

2,3-Butanediol

Reductive Elimination Catalytic Dehydration Catalytic Dehydration

1,3-Butadiene Methyl Ethyl Ketone

(MEK/Butanone)

Butenes

1-Butylene

(But-1-ene)

2-Butylene

(But-2-ene) Isobutylene

(2-Methylpropene)

H H

H

H H

H C C C C

H

H H

C C

CH2 CH3 1 2

3 4

H3C

H H

C C

CH3 2 3

4 1

H CH3

C C

CH3 1 2

H

3

H3C-CH2-C

CH3

O

New Route to C4’s without current supply challenges 12

CO + H2

Capturing Carbon as Hydrocarbon Fuels

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Acetate

Jet Fuel

Lipids ~5.5M bpd

Energy Source

CO2

Carbon Source

Preliminary TEA indicates

lipid production at ~ 2 $/gal

Gasoline

Diesel

~8.5 bpd

~51M bpd

Creating Value through Diversification

Steel

Oil/Natural Gas

Coal

Biomass

Chemicals

Industry Partners/Projects End User/Markets

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LanzaTech Global Partnerships

Burrill & Co.

K1W1 15

Summary

New paradigm in waste to sustainable fuels and chemicals

Platform Technology

– Large feedstock opportunity: only technology that converts industrial gas streams to liquid transportation fuels

– Broad product range: fuels and chemicals (ethanol, 2,3-butanediol, acetone, propanol, butanol, MEK)

– Large IP blocking opportunity

Well advanced through scale up

– Pilot operating since 2008

– Demonstration in operation in Shanghai

First Mover Advantage

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A Sensible Path…

Waste for Energy

Industrial Growth

Energy Security

Energy Efficiency

Aligns:

Land To Produce

Food For People

Allows:

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