09 CeoMeeting- Session1- Cobalt

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09 CeoMeeting- Session1- Cobalt

  1. 1. Cobalt: A Better Way to Make a Better Biofuel Rick Wilson: 650-230-0750
  2. 2. Cobalt Snapshot <ul><li>Biofuel plus green electricity </li></ul><ul><li>Huge market, government-mandated demand </li></ul><ul><li>Butanol – biofuel 2.0 (bio-gasoline & B20 bio-diesel) </li></ul><ul><li>Capital efficient, strongly profitable at today’s oil prices </li></ul><ul><li>Driven by engineering, protected by IP </li></ul><ul><li>Management team built to scale up the technology </li></ul>
  3. 3. Cobalt’s Opportunity Woody Biomass Agriculture Residue Energy Crops U.S. Market – From Zero to 15 Billion GPY in 10 Years Conventional Biofuel (Corn Ethanol) Cellulosic Biofuel Biomass-Based Diesel Other Advanced Biofuel 0 5 10 15 20 25 30 35 40 2008 2010 2012 2014 2016 2018 2020 2022
  4. 4. Fuel – The World’s Largest Market <ul><li>360 Billion gallons of gasoline consumed globally annually </li></ul><ul><li>Billion gallon global chemical market </li></ul><ul><li>Number of cars to increase 200 million (30%) by 2015; internal combustion engine will dominate </li></ul><ul><li>Corn ethanol capped, butanol to breakthrough blend wall </li></ul><ul><li>Butanol used as gasoline blend in the beginning </li></ul>0 5 10 15 20 25 30 35 40 2008 2010 2012 2014 2016 2018 2020 2022
  5. 5. Butanol: Drop in Biofuel Source: GM, BP, Tetra Tech, internal analysis Fuel Efficiency + 25% Infrastructure Compatible YES Engine Compatible YES Evaporative Emissions Lower VOC Tailpipe Emissions Reduced Biodegradable (not MTBE) YES Non Toxic (not MTBE) YES Green House Gases -90 % Approval US 16% EU 15%
  6. 6. <ul><li>High Margin </li></ul><ul><li>Premium Product (blend value above gasoline price, chemicals) </li></ul><ul><li>High yield (strain improvement) </li></ul><ul><li>Cheap feedstock (high impact, non-food) </li></ul><ul><li>Low Variable Costs (single product) </li></ul><ul><li>Low Capital </li></ul><ul><li>High productivity (bioreactor) </li></ul><ul><li>Low severity (pretreatment) </li></ul><ul><li>Energy integration </li></ul>Cobalt’s Formula for High Returns
  7. 7. Challenges for Competing Technologies
  8. 8. Cobalt Scale Up Plan <ul><ul><li>Pilot plant testing mixed sugars since June 2009 </li></ul></ul><ul><ul><li>Pilot plant testing softwood by December 2009 </li></ul></ul><ul><ul><li>~1 million gallon per year facility operational 2011 </li></ul></ul><ul><ul><li>10 million gallon per year facility operational 2013 </li></ul></ul><ul><ul><li>50 million gallon per year facility operational 2014 </li></ul></ul>Pilot Facilities Mountain View CA: Bioreactor & distillation Golden, CO: Hydrolysis and conditioning
  9. 9. The Team to Implement and Scale Rick Wilson, PhD CEO <ul><li>Amoco/BP </li></ul>Steven K. Shevick CFO <ul><li>Synopsys, Ausra </li></ul>Mark Dinello SVP, Engineering and Ops <ul><li>Amoco/BP </li></ul>Hendrik Meerman, PhD Director Bioprocessing <ul><li>Genencor </li></ul>David Walther, PhD Director Engineering Research <ul><li>UC Berkeley </li></ul>Stacy Burns-Guydish, PhD Director Microbiology <ul><li>Stanford </li></ul>
  10. 10. Cobalt: A Better Way to Make a Better Biofuel Rick Wilson: 650-230-0750

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