The document discusses Segetis' technology for producing levulinic acid and derivatives from biomass. It aims to establish levulinic acid as a biobased building block by converting sugars from renewable feedstocks like corn and cellulosic biomass into levulinic acid and further into downstream specialty chemicals and plastics. Segetis' first production plant in Minnesota will produce levulinic acid and biobased plasticizers from corn syrup, creating economic opportunities for the region while diversifying markets for Minnesota's renewable resources. The company's products have the potential to address over $50 billion in existing chemical and plastic markets.

1. Turning Levulinic Acid’s Potential as a
Biobased Building Block into Reality
December 17, 2013
RENEW. REINVENT. SUSTAIN. CHANGE THE WORLD.™

2. Renew
We believe that biobased materials are a viable
alternative to petrochemicals and contribute to
improving quality of life
Reinvent
Our disruptive technology
will turn Levulinic Acid’s
potential as a Biobased
Building Block into reality
Sustain
Supporting sustainable
lifestyles by transforming
Levulinic Acid into high
performance materials
reducing toxicity, air and
environmental impact
TM
Renew.Reinvent.Sustain.Change the WorldTM
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3. Ingredients for Success
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•
•
•
•
•
•
•
•
Breakthrough Levulinic Acid & Derivatives Technology
Added value for Minnesota’s renewable resources
30 employees with 5 year track record of achievement
Intellectual Property portfolio for long-term advantage
>$50bn addressable market opportunity
Safe products provide compelling value proposition
3 years of repeat seed sales to strategic customers
Over 50 active customer relationships
Cash flow positive within 2 years of plant start-up
Minnesota State and Segetis Make a Great Team
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4. Savvy Investors
Segetis has been backed by Venture Capital, Strategic and
Private Equity Investors since its founding in 2006
Diverse mix of global investors
4

5. “Target, Wal-Mart, Whole Foods lead retail race to safer chemicals”*
Method
Detergent
Segetis Formulation Aids:
In Target stores today
Seventh
Generation
Cleaners
Method
Dishwash
*Mark Rossi, November 18, 2013
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6. Segetis Plasticizer – Already in Market
Facility
Manager
Biobased PVC
Compound
Biobased
flex PVC
product
offering
Wall and Door
Products
Preferred
Procurement
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7. Establishing Levulinic Acid as a Biobased Building Block
Sugar
Levulinic
Acid (LA)
Cellulosic Biomass
Diverse, renewable
feedstocks
Segetis
Bio-based PVC
Plasticizer and
Formulation
Aids
Bio-based
Plastics
Thermochemical
conversion
>$50bn
markets
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8. Added Value for Minnesota’s Renewable Resources
Levulinic Acid Feedstock Options
Corn Sugar
Beet Sugar
Cellulosic Sugar
(from wood)
Biomass Capacity


Supply Chain

Pilot
LA Conversion
Validated

In development
Lower Cost – opens more markets
Segetis Confidential Information
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9. Getting Started: First Plant in Minnesota
• First-of-its-Kind Levulinic Acid and Derivatives production
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Locate in the Iron Range Region
Source corn syrup from ADM in Marshall, MN
Start-up end of 2015
Innovative technology to diversify Iron Range Region economy
• Project Cost Estimated at $92MM:
– Capital $62MM – LA (22MM lb/yr) + Plasticizer (35MM lb/yr)
– Process Development, Market Development and Registration
$30MM
• Provide economics and scale required to drive initial market
adoption in strategic market segments
• Next step toward market driven global rollout with
conventional project financing
Segetis Confidential Information
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10. Impact on Minnesota Economy
Benefit
First Plant
Next Generation Expansion
Sales
$50MM
$325MM
Capital Investment
$62MM
$180MM
Corn Consumption
88MM lbs/yr
N/A
Wood Consumption
N/A
900MM lbs/yr
282MM lbs/yr
1.6MM lbs/yr
80
180
300 Person yrs
450 Person yrs
400
900
Green House Gas Reduction
Direct Jobs
Construction Jobs
Indirect Jobs
Segetis Confidential Information
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11. >$50bn Addressable Market Opportunity
Plasticizers
Plasticizers
$14bn
$14bn
PVC &
PVC &
biopolymers
biopolymers
Segetis Biobased
Specialty Chemicals
Agrochemical
Agrochemical
formulations
formulations
$3.5bn
$3.5bn
Polyester &
Polyester &
Polyurethane
Polyurethane
Intermediates
Intermediates
$7bn
$7bn
Polycarbonate
Polycarbonate
Co-Monomer
Co-Monomer
$2bn
$2bn
Household
Household
& Industrial
& Industrial
Cleaners
Cleaners
$2.5bn
$2.5bn
Bio-based acrylate
Bio-based acrylate
polymers
polymers
$5bn
$5bn
Levulinic Acid (LA)
Levulinic Acid (LA)
Biobased
Intermediate
Chemicals
Nylon Intermediates
Nylon Intermediates
$8bn
$8bn
Other LA Derivatives
Other LA Derivatives
$5bn
$5bn
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12. Segetis Financial Success
First Plant
Next Generation Expansion
(2015)
(2019)
Sales
$50MM
$325MM
Capital Investment
$62MM
$180MM
30%
40%
$5MM (10%)
$60MM (18.5%)
2 yrs from Start-up
1 yr from Start-up
Project Financing not
Available for 1st of its kind
Conventional Project
Financing
Metrics
Gross Margin
EBIDTA
Cash-Flow +
Funding Driver
Segetis Confidential Information
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