Embed Size (px)
Citation preview
!" # $ % &' ( ) %!"*!#+,$*-%!&'./.-*!(/+)*%!0
12!'%!34*.!5,+!6',57*829
Cindy Thyfault, Founder and CEO
7th A l W ld Bi f l M k t7th Annual World Biofuels Markets
Rotterdam, The Netherlands
13 March 2012
!"#$#%&'&()% *+&,(%#!"#$#%&'&()%!*+&,(%#
• !"#$"%#& '( )#*+,$!"#$"%#&!'(!)#*+,$
• -."#*+/#.+!0$#.1*!2!!33'$+4.%+%#*
• 5%'(4#6* 7%.,.8# 9+$48+4$#* 2 :%*;*5%'(4#6*!7%.,.8#!9+$48+4$#*!2!:%*;*
• <=9=!7%.,.8%.>!?$'>$,/*
• -.+#$.,+%'.,6 7%.,.8%.> !33'$+4.%+%#*• -.+#$.,+%'.,6!7%.,.8%.>!!33'$+4.%+%#*
• !+@#$!-.+#$.,+%'.,6!?$'>$,/*
-#$&'"!.,(#%&$
Westar has assisted clients in obtaining over $680 Million in financing.
/#0!.,(#%&!1#2&)"$
Technology
Providers &
Stakeholders
3%4#$&)"$!5!
3%6+$&"0!
1&'7#8),6#"$
Banking &
Finance
Stakeholders
• State & Federally Charted Banks
• Traditional & Investment Banks
• Biofuels & Bioproducts• Renewable Power
• Investment Banks• Equity Providers• Family Offices &
Hedge Funds• International
• Venture Capital Companies
• Multinational Corporation• Family Office & Hedge
Funds
• Value-Added Agriculture• Water Production &
Recycling• Smart Grid Technologies• Sustainable Fiber International
Development Banks
Funds• Oil & Gas Companies• Food Production
Companies• Air Transport Companies
Ai L d & W t F l
Sustainable Fiber Production
• Energy Efficiency Technologies
• Transformational T h l i • Air, Land, & Water Fuel
UsersTechnologies
9,):',!.,#'%!3%4#$&;#%&$
Source: Kachan & Co.
3%4#$&;#%& <"#%6$3%4#$&;#%&!<"#%6$!
5!*==)"&+%(&(#$
Source: Bloomberg New Energy Finance
<"'%$=)"&'&()%!>%#"?0!
.)%$+;=&()%!!")@#2&()%$!ABCB"ABDB
Source: World Economic Forum Report, “Sustainable Transportation Ecosystem.”
3%4#$&;#%&!E($7$
.8',,#%?#$ (% F,&#"%'&(4#.8',,#%?#$!(%!F,&#"%'&(4#!
G+#,$!G(%'%2(%?
• Capital Cost of Commercial Facility
• Long-term Sales ContractsLong term Sales Contracts
• Long-term Supply Contracts
S l Ri k• Scale-up Risk
• ASTM Certification
• Bank Syndication
• Debt Interest Rate
1';=,#!H()I+#,!
G(%'%2#!1&"+2&+"#
Step One – Development Phase
Tech Equity Offtake Feedstock Project Fuel
Step Two – Evaluation Phase
Tech.
Provider
Equity
ProviderOfftake
Provider
Feedstock
Provider
Project
Site
Fuel
Cert.
Feasibility
Study
3rd Party
Eng.
Report
Gov’t
Assistant
App.
Lender’s
Analysis
Step Three – Lender & Government Approval
Conditional Loan
Commit. Closing
B ildi E i tBuildings Equipment
1';=,#!!")@#2&!
.)$&!1&"+2&+"#
Trans.
InfrastructureFeedstock
Production
G##6$&)27
3%4#%&)"0
Working
Capital
Accounts
Receivable
Carbon
Credits
Tax
Credits
Gov’t
Loan
Guarantee
Export-
Import
Financing
1';=,#!J#4#"'?#6!
G 6( 1& &
Guarantee Financing
Dev.G+%6(%?!1&"+2&+"#Grants
Dev.
Bank
Financing
Bank
FinancingCash
Bond
FinancingFinancing
>K=)"&"3;=)"&!H'%7L#6(+;!'%6!J)%?"<#";!J)'%!9+'"'%&##
!")?"'; M(?8,(?8&$N!")?"';!M(?8,(?8&$N
o <3 +' ABC 6',. >4,$,.+##D .' /%.%/4/ '$ /,E%/4/ 6%/%+ +' +@# *%F# '( +@#
#E3'$+
*,6# +@,+ /,G H# (%.,.8#1 &%+@ IE"-/ 5,.;J* 6',. >4,$,.+##=
o KBC 1'&. 3,G/#.+ %* $#L4%$#1 ($'/ +@# H4G#$
o 9/,66 H4*%.#** (%.,.8%.> $'*# '"#$ MNC ($'/ OP=P H%66%'. %. 7Q RNNA +' OS H%66%'. %.
7Q RNKK
O Oo :#.#&,H6#"#.#$>G #E3'$+* %.8$#,*#1 +' OMRS /%66%'. %. 7Q RNKK ($'/ OPN /%66%'.
%. 7Q RNNA
>,(?(:(,(&0 E#O+("#;#%&$N>,(?(:(,(&0 E#O+("#;#%&$N
o ?$'148+* /4*+ H# *@%33#1 ($'/ +@# <=9= +' , ('$#%>. H4G#$=
o IE"-/ 5,.; 8,..'+ *433'$+ #E3'$+* '( /%6%+,$G '$ 1#(#.*# 3$'148+* ,.1 *#$"%8#*
T&%+@ *'/# #E8#3+%'.*U=
*4#"$#'$!!"(4'&#!3%4#$&;#%&!.)"=)"'&()%L#6(+; 5 J)%? <#"; G(%'%2(%?L#6(+;!5!J)%?"<#";!G(%'%2(%?
!")?"';!M(?8,(?8&$N
• BN"SBC 3'**%H6# !?-V 3,$+%8%3,+%'. ('$ , .#& "#.+4$# ,.1 <3 +' MBC 3'**%H6# !?-VBN SBC!3'**%H6#!!?-V!3,$+%8%3,+%'.!('$!,!.#&!"#.+4$#!,.1!<3!+'!MBC!3'**%H6#!!?-V!
3,$+%8%3,+%'.!('$!,.!#E3,.*%'.!%.!#/#$>%.>!/,$;#+*!'(!,!*488#**(46!#E%*+%.>!'3#$,+%'.!
• W',.*!($'/!OKNNDNNN!43!+'!ORBN!/%66%'.!3#$!3$'X#8+!
• Y%$#8+!6',.*!,.1!%."#*+/#.+!>4,$,.+%#*!Z Y%$#8+!6',.*!,",%6,H6#!+'!<=9=!(%$/*!&%+@!4.1#$!
• ORBN!/%66%'.!%.!*,6#*!'$!OSM!/%66%'.!%.!.#+!&'$+@!
• [#1%4/!+'!6'.>"+#$/!(4.1%.>\
F$('%!P#4#,)=;#%&!H'%7.,#'%!>%#"?0!!")?"';
!")?"';!M(?8,(?8&$
• RMC '( +'+,6 6',.* %. ]Y5• RMC '( +'+,6 6',.* %. ]Y5
(4.1 >' +' 86#,. #.#$>G
8'/3'.#.+*
• OR 5%66%'. %."#*+/#.+
+,$>#+ HG RNKR
• ]336%8,+%'.* $#"%# %. S
H,+8@#*\ ^,.=D [,$=D [,GD
^46=D 9#3+DD ,.1 _'"=
• I6%>%H6# ,8+%"%+%#*\ H%'/,**D
H%'(4#6D H%'>,*D $4$,6H%'(4#6D H%'>,*D $4$,6
#6#8+$%(%8,+%'. ,.1 #.#$>G
,88#**D 1%*+$%H4+#1 #.#$>G
3$'148+%'.D &,*+#"+'"
#.#$>G 3$'X#8+* ,.1 '+@#$
6 + @ 6 %86#,. #.#$>G +#8@.'6'>%#*
*&8 3 & &( ,*&8#"!3%&#"%'&()%',!
G(%'%2(%?!!")?"';$
• -.+#$"]/#$%8,.!Y#"#6'3/#.+!5,.;
• 94*+,%.,H6# I4$'3#,. -."#*+/#.+ 5,.;94*+,%.,H6#!I4$'3#,.!-."#*+/#.+!5,.;!
• ]4*+$,6%,!IE3'$+!7%.,.8#!,.1!-.*4$,.8#!V'$3'$,+%'.
• 5,.8'/#E+ Z [#E%8'!_,+%'.,6!IE3'$+!5,.;
- 1% I + - + 5 ;• -.1%,!IE3'$+"-/3'$+!5,.;
• I`7!Z Y#./,$;!IE3'$+!V$#1%+!]>#.8G
• IE3'$+!Y#"#6'3/#.+!V,.,1,
• IE3'$+"-/3'$+!5,.;!'(!`'$#,
&,+ :,+* '.5,+:/%',.; -,.%/-%<&,+!:,+*!'.5,+:/%',.;!-,.%/-%<
.(%60!<80I'+,&Q!G)+%6#"!'%6!.>*
-#$&'"!<"'6#!E#$)+"2#$
ABDB!L'(%!1&"##&Q!1+(&#!RCB
P',,'$Q!<S!!TUAUA
ACR"DAB"BVBB
& & 6WWWXW#$&'"&"'6#X2);
