The Future is Now: Cellulose Ethanol Mike Roth Director, International Business Development Biofuels Markets Asia June 2007

POET Overview: Formerly Broin Companies 20 Years Ethanol Industry Experience 29 Ethanol Plant Development Projects 2 nd Largest Producer in the U.S. Unique Integrated Business Model Leading Developer of Technology Process Innovation Environmental Stewardship Commitment to Research & Development Low Cost Producer

POET Overview:

Formerly Broin Companies

20 Years Ethanol Industry Experience

29 Ethanol Plant Development Projects

2 nd Largest Producer in the U.S.

Unique Integrated Business Model

Leading Developer of Technology

Process Innovation

Environmental Stewardship

Commitment to Research & Development

Low Cost Producer

Ethanol Statistics in the United States Capacity 6.183 billion Operating 119 Under Construction 86 Capacity in Construction 6.45 billion POET – In Production 1.045 billion POET – Under Construction .375 billion *Renewable Fuels Association (http://ethanolrfa.org/industry/locations/)

Capacity 6.183 billion

Operating 119

Under Construction 86

Capacity in Construction 6.45 billion

POET – In Production 1.045 billion

POET – Under Construction .375 billion

& U.S. Department of Energy and POET to jointly fund Commercial Cellulosic Ethanol Bio-Refinery in Iowa

&

Why Cellulosic Ethanol? 2006 ethanol production 4.8 Billion gallons 2005 total transportation fuel consumption 140 Billion gallons US federal government 2017 goal of 35 Billion gallons of renewable fuels; ethanol must be produced Corn is projected to provide 15 Billion gallons of ethanol by crop year 2017 Alternative biomass feedstock will be required to meet the additional 20 Billion gallons of ethanol

2006 ethanol production

4.8 Billion gallons

2005 total transportation fuel consumption

140 Billion gallons

US federal government 2017 goal of 35 Billion gallons of renewable fuels; ethanol must be produced

Corn is projected to provide 15 Billion gallons of ethanol by crop year 2017

Alternative biomass feedstock will be required to meet the additional 20 Billion gallons of ethanol

Cellulosic Material Feedstock The world over – cellulose is abundant The feedstock for cellulose to ethanol is varied Each type of feedstock has a unique characteristic POET is focusing on: Corn Starch Corn Fiber Corn Stover and Cobs

Feedstock

The world over – cellulose is abundant

The feedstock for cellulose to ethanol is varied

Each type of feedstock has a unique characteristic

POET is focusing on:

Corn Starch

Corn Fiber

Corn Stover and Cobs

How Ethanol is Made

We will overcome these challenges, we have done so before…

The Evolution of Bio-Refining and

POET Research and Development POET Research Center, Inc Private Research Plant New protected processes BPX, B-F RAC Strategic Alliances Enzyme, process equipment and biotech companies POET / DOE Joint Venture Industry Leadership

POET Research Center, Inc

Private Research Plant

New protected processes

BPX, B-F RAC

Strategic Alliances

Enzyme, process equipment and biotech companies

POET / DOE Joint Venture

Industry Leadership

POET Research Center, Inc

Project LIBERTY Project LIBERTY deliverables: 11% more ethanol from a bushel of corn 27% more ethanol from an acre of corn 83% less fossil fuel consumption 24% less water consumption

Project LIBERTY deliverables:

11% more ethanol from a bushel of corn

27% more ethanol from an acre of corn

83% less fossil fuel consumption

24% less water consumption

POET into the Future Where do we go from here: Continue to lead cellulose to ethanol development Commercially viable cellulose to ethanol Technology development of process and biomass Continue to grow domestic ethanol production Domestic development and construction Continue to build relationships internationally Interested in technology and equipment to improve efficiencies

Where do we go from here:

Continue to lead cellulose to ethanol development

Commercially viable cellulose to ethanol

Technology development of process and biomass

Continue to grow domestic ethanol production

Domestic development and construction

Continue to build relationships internationally

Interested in technology and equipment to improve efficiencies