G.E.T. Smart Fuels: General Bbiodiesel

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G.E.T. Smart Fuels: General Bbiodiesel

  1. 1. WTIA Smart Biofuels Presentation June 2010
  2. 2. OVERVIEW General Biodiesel Seattle (GBS) is the Leading Waste-to- Energy Biofuel Company in Washington Two Operating Segments: o Used Cooking Oil (UCO) Recycling Business (Restaurant Services) o Low Carbon Fuel Production (Biodiesel) Significant Growth in Both Businesses in 2009 and 2010 2
  3. 3. MARKET POSITION – LOW CARBON FUEL Business Model is Proving to be the RIGHT Model for Biofuels: o Market is Moving to “Low Carbon Fuels” o US EPA, CARB and WA Dept of Ecology and EU all agree that RCO biodiesel is one of the lowest carbon fuels made WA LCFS California LCFS (gCO2e/MJ) (gCO2e/MJ) 100 RCO Biodiesel has 120 90 80 70 an 80% to 86% 95 60 50 Carbon Reduction 70 GB 45 GB 40 30 FUEL versus Diesel FUEL 20 20 10 0 U.S. EPA (5) RCO Cellulosic Natural Soy Petro Electricity (gCO2e/mmBtu) Biodiesel Ethanol Gas Biodiesel Diesel 3000000 2000000 GB 1000000 FUEL 0 RCO Soy Sugarcane Corn Petro Biodiesel Biodiesel Ethanol Ethanol Diesel 3
  4. 4. WHY LOW CARBON FUEL IS IMPORTANT December 2009: EPA announces it will regulate CO2 Transportation is… o The largest source of CO2, which is the most prevalent GHG o Accounts for 29% of total U.S. GHG emissions o Fastest-growing source of U.S. GHGs, accounting for 47 percent of the net increase since 1990
  5. 5. RESTAURANT SERVICES BUSINESS 5
  6. 6. ACCELERATING GROWTH Quarterly UCO Collection 160,000 140,000 120,000 Accelerating Growth In 2010 100,000 80,000 60,000 40,000 20,000 0 Q108A Q208A Q308A Q408A Q109A Q209A Q309A Q409A Q110A Q210B o Consistent, Reliable, Branded Recycling Solution o Customer Service Innovation, Fixed Cost Optimization and Economies of Scale o Providing Collection Customers with the Ability to Brand Their Carbon Reduction Efforts through UCO Recycling – GBS “GreenPartner” Program 6
  7. 7. HOW WE SCALE RESTAURANT SERVICES GreenPartner Program Promotes Partnership with GBI o GBS tracks and promotes partner carbon reduction from used cooking oil recycled into biodiesel o Customers sign 10-year service agreements o Target FSEs, Property Managers, Institutions o Win-Win-Win for GBS and Customers o Over 3.5 million pounds of CO2 saved by GreenPartners in 2009 7
  8. 8. BIODIESEL BUSINESS 8
  9. 9. UNIQUE VALUE PROPOSITION General Biodiesel Offers a Highly Unique Value Proposition to Fuel Customers: o Locally sourced recycled waste streams, produced locally and sold locally o Lowest carbon fuel readily available today o ONLY Waste-to-Energy transportation fuel available in many areas General Biodiesel is Extremely Well Positioned in the Fuel Market 9
  10. 10. SUSTAINABLE COST ADVANTAGE Production Cost Market Price of of Soy Biodiesel Biodiesel Cost Gross Benefit of Margin Captive Feedstock GB Fixed Production Cost of Biodiesel on Captive Feedstock at 3 MGY Scale 10
  11. 11. MANAGEMENT Yale Wong, Chairman & CEO o Founder and CEO of Compass Communications (10 years) o Costco (6 years) Cameron Hewes, President & CFO o 11 Years Investment Banking & Private Equity Experience Hoby Douglass, Director of Sustainable Business Development o 20 Years Sales, Marketing and Brand Development in Manufacturing, Technology and Consumer Products Zach Shelton, Director of Sales o 15 Years Restaurant Industry Experience (Starwood Hotels, Kimpton Hotels, Consolidated Restaurants) Josh Haney, Chemist o 7 Years Pharma, MedTech & ISO 9000 Manufacturing Experience, 10 Patents 11
  12. 12. BOARD & ADVISORS Board of Directors o Yale Wong, Chairman & CEO o Gordon Gardiner, Swiftsure Securities o Dean Allen, CEO of McKinstry Company Advisory Board o Kurt Manchester, VP, Bardahl Oil (80-year global business in petroleum additives manufacturing) o Jerry Lee, CEO, Mulvanny G2 Architecture o Jon Van Gerpen, Professor and Chair, Biological and Agriculture Engineering at University of Idaho, one of the top biodiesel academics in the U.S., started the National Biodiesel Education Program Legal & Tax o Davis Wright Tremaine&Stoel Rives, Legal o RSM McGladrey, Audit & Tax 12
  13. 13. WELL POSITIONED FOR CONTINUED GROWTH Executing Against our Plan o Vertical Integration Allows us to Manage Absence of the Tax Credit o Rapidly Growing Captive Feedstock o Growing Customer Base for Biodiesel – Demand is Strong for Locally Produced, Recycled Product o $2MM Run Rate and Growing Rapidly GBS is Extremely Well Positioned in its Markets o 1 of 2 Consistently Operating Plants in WA o Only Operating Plant in Washington Using Recycled Feedstock = Lowest Carbon Fuel in the Market The Macro Environment Continues to Move in Our Direction o Gulf Oil Spill o Energy Security Remains Highly Visible  US Trade Deficit Driven By Oil Imports o Low Carbon Fuel Standards  CA, OR, WA, BC 13

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