Rentech: Creating A Diversified Energy Platform April 21, 2011 Advanced Biofuels Leadership Conference Hunt Ramsbottom, President & CEO

Rentech: Creating A Diversified Energy Platform

April 21, 2011Advanced Biofuels Leadership ConferenceHunt Ramsbottom, President & CEO

Clean Energy Solutions 22

Conversion of low-value feedstocks into high-value, useful products which have

market demand

Rentech’s Business Model


• Rentech owns demonstrated energy conversion technologies

• Products are certified, high-quality, ready-to-use, with customers

• Pursue energy projects that deploy energy technologies (Rentech’s or partners) and generate financeable rates of return



• Develop, own & operate; license

• Invest in R&D to continue to capture market share by broadening technology portfolio, increase efficiency and drive down costs

• Each barrel of fuel and megawatt hour of power produced will reduce emissions of pollutants and life-cycle carbon compared to traditional energy sources



Multiple Pathways, Multiple Products

Wood / Timber

Bagasse & Wood

Rentech’s Port St. Joe Renewable

Energy Center

Rentech-SilvaGas Biomass Gasifier

Renewable Power

Woody Green Waste

Rentech’s Rialto Renewable

Energy Center

Rentech-SilvaGas Biomass Gasifier +

Rentech Fischer-Tropsch

Renewable Fuels

PDUBio-Refinery

Demonstration Project

Rentech-ClearFuels Biomass Gasifier +


Renewable Fuels


Multiple Pathways, Multiple Products

Natural Gas

Rentech’s Natchez Project

Rentech Biomass GasifierSMR


Synthetic FuelsWoody Green Waste

Nitrogen Fertilizer Rentech Energy Midwest Corporation

Natural Gas


Technology Diversity – One Technology Does Not Fit All

Different front-end technologies process different feedstocks

Multiple front-end technologies enable Rentech to pursue opportunities in many markets for fuels and power production

Biomass Feedstock Conversion: Proprietary Biomass Gasification

McNeil Generating Station – Burlington,

VT

Rentech-SilvaGas Gasifier

ClearFuels Gasifier

ClearFuels Demo Site

Integrated Bio-Refinery at PDU with CF Gasifier

Other Feedstock Conversion:Commercially Available

Technologies

Steam Methane Reformer – Natural Gas

Gasification – Pet Coke; etc.


Technology Diversity – Creating a Value Chain

Drop-In Synthetic Fuels: Rentech Fischer-Tropsch

Synhytech Reactors

DOE LaPorte Facility

Product Demonstration Unit

H2 +CO (SynGas)

Clear Wax

Light Products

Waxy Products

Fischer-Tropsch Reactor

Product Upgrading

Syngas from front-end technologies paired with Rentech’s Fischer-Tropsch Process and UOP’s upgrading technologies to produce refined certified synthetic fuels


Rentech Fischer-TropschProcess

Commercially-AvailableCombined Cycle Power Block

Clean Power

Naphtha

RenChem®

Naphtha

Diesel or Jet Fuel

RenDiesel®

RenJet®

Fully-Integrated, End-to-End Value Chain

Upgrading

Upgrading SystemBagasse

Switchgrass

Ag Waste

Wood / Timber

Grass

Other Biomass

Natural Gas

Rentech-SilvaGasBiomass Gasification System

ClearFuelsBiomass Gasification System

Licensed Third Party

Steam Methane

Reformer

No energy input needed to run facilities other than feedstock once a plant is up and running

Nitrogen Fertilizer


• PDU – World-Leading Demonstration Facility: 40,000 gal+ of certified drop-in diesel and jet fuel production since Aug 2008

• Approx. $250 million invested in technology development

• Approx. $85 million invested in demonstration plant

• Currently integrating a ClearFuels gasifier onsite as part of the DOE co-funded Integrated Bio-Refinery Project – renewable fuels production targeted for end of year

• Rentech Energy Technology Center: Goals for increasing efficiency &yields – targeting yield improvement from approx. 35 gal of drop-in fuel/ton to approx. 75 gal of drop-in/ton

10

Investment in Technology Portfolio


• Finished Products: Certified diesel and jet fuels• Only alternative fuel type certified for commercial aviation and military use• Diesel meets ASTM D975 specs

• Drop-in fuels• No blending limitations or infrastructure barriers

• All Rentech’s renewable fuels qualify for cellulosic RINs• 1.7 RINS per gallon of renewable fuel produced • Current value: approx. $1.40/RIN

• Addresses EU Emissions Trading Scheme and other renewable and low-carbon fuels mandates

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Rentech’s fuels burn cleaner

Products: Certified Clean, Drop-In Fuels


• Renewable baseload power

• Qualifies for FIT and RPS mandates

12

Products: Clean Power


RenDiesel®

• Airline customers: Long-term contract with ASIG and 8 airlines to buy renewable RenDiesel from proposed Rialto Project for use in ground service equipment at LAX

RenJet ®

• Airline customers: MOU with 13 carriers for RenJet fuel to be produced at proposed Natchez Project; LOI for proposed Solena European renewable jet fuel project using Rentech’s FT technology

RenPowerTM

• Utility: 20-year Power Purchase Agreement with Progress Energy Florida for approx. 50 MW of renewable RenPower to be produced at proposed Port St. Joe Project

Eureka! Diesel Drives the Future’ event with Audi & Green Car Journal

RenJet fueling for United Airlines flight

Customers for All of Rentech’s Fuels and Power Products


• 55 MW net renewable baseload power from approx. 930 tons/day of woody biomass

• 20-year PPA secured with Progress Energy Florida

• Detailed EPC term sheet signed

• Negotiating term sheet with U.S. Department of Energy for majority of the $225M estimated project cost under 1705 loan guarantee program

• Eligible for federal cash grant for 30% of project costs under 1603 Grant Program

• In service date: 2013

• Port St. Joe, Florida

Renewable Power: Port St. Joe Renewable Energy Center

Rentech-SilvaGas Biomass Gasifier to Renewable Power


• 1200 – 1500 barrels per day/18M – 23M gal per day of renewable, drop-in diesel or jet fuels from approx. 1000 tons/day of woody green waste

• Renewable fuels qualify for 1.7 RINs/gal

• Small portion of diesel fuel contracted for LAX ground service equipment use with 8 airlines

• In due diligence with U.S. Department of Energy for potential loan guarantee for majority of project cost under 1703 loan guarantee program

• Rialto, CA

Renewable Fuels: Rialto Renewable Energy Center

Rentech-SilvaGas Biomass Gasifier + Rentech Fischer-Tropsch to Renewable Fuels


• Demonstration of ClearFuels biomass gasifier integrated with Rentech’s existing PDU

• Partially funded by $23M U.S. DOE grant

• Renewable diesel and jet production from bagasse and wood biomass targeted for end of this year

• Successful demonstration will lead to commercialization of ClearFuels biomass gasifier with Rentech FT for renewable diesel and jet fuel facilities

• In active negotiations with Hawaii Electric Company for long-term conditional off-take agreement for renewable diesel from proposed Hawaii project

• Renewable diesel and jet fuels qualify for 1.7 RINs/gal

• ClearFuels to become 95% owned by Rentech in May 2011

• Commerce City, CO

Renewable Fuels: Bio-Refinery Demonstration Project

ClearFuels Biomass Gasifier + Rentech Fischer-Tropsch to Renewable Fuels

ClearFuels Demo Site


• Evaluating feasibility of project configuration using combinations of feedstocks (biomass harvest timber residuals, natural gas, & others)

• Scoping work for up to 15000 barrels per day project configuration completed by Fluor

• CO2 sequestration solution through contract with Denbury Resources for EOR

• 450 acre site adjacent to Mississippi River

• Signed MOU with 13 carriers for jet fuel off-take

• Adams County, MS

Fuels & Power: Natchez Project

Rentech Biomass Gasifier/SMR/Gasification+ Rentech Fischer-Tropsch to Fuels & Power


• 40-year+ operating facility

• Approx. 600,000 tons per year of nitrogen fertilizer products sold to corn belt

• Provides operating experience & source of cash flow

• Robust outlook: global grain demand; low input costs; high crop prices

• FY11 EBITDA projection as of 4/5/11: approx. $75M

• Conducting feasibility study to expand plant capacity

Nitrogen Fertilizer: Rentech Energy Midwest Corporation

Syngas Production from Natural Gas to Produce Nitrogen Fertilizer


Summary

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• Rentech is in the business of converting low-value energy into high-value products

• Rentech offers unmatched, end-to-end solutions for synthetic fuels and

power production

• Significant technology portfolio:

• Rentech-SilvaGas biomass gasifier (biomass to syngas)

• Rentech-ClearFuels biomass gasifier (biomass to syngas)

• Rentech Fischer-Tropsch Process (syngas to synthetic crude)

• UOP marketing alliance (synthetic crude to refined products)


Summary

20

• Commercial scale projects underway:

• Port St. Joe Project: Renewable Power

• Rialto Project: Renewable Fuels

• PDU Bio-Refinery Project: Renewable Fuels

• Natchez Project: Synthetic Fuels & Power

• Strategic nitrogen fertilizer asset: source of cash flow & operating

experience; evaluating plant expansion


Safe Harbor Statement

21

This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Company’s press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s web site at www.rentechinc.com. The forward-looking statements in this presentation are made as of the date of this presentation and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.

The marks of Air Canada, AirTran Airways, Alaska Airlines, American Airlines, Atlas Air, Continental Airlines, Delta Airlines, FedEx Express, JetBlue Airways, Lufthansa German Airlines, Mexicana Airlines, Polar Air Cargo, Southwest Airlines, United Airlines, UPS Airlines, US Airways and the designs used herein are either registered trademarks or trademarks of the airlines listed. The airlines are not in any way affiliated with and do not sponsor Rentech or Rentech products or services. The marks of Denbury Resources Inc., UOP, A Honeywell Company, Solena Group, the Department of Defense, the Department of Energy, Progress Enery and the designs used herein are either registered trademarks or trademarks of the companies listed. The companies are not in any way affiliated with and do not sponsor Rentech or Rentech products or services.

Rentech: Creating A Diversified Energy Platform

April 21, 2011Advanced Biofuels Leadership ConferenceHunt Ramsbottom, President & CEO

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Rentech: Creating A Diversified Energy Platform April 21, 2011 Advanced Biofuels Leadership Conference Hunt Ramsbottom, President & CEO