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Cobalt: A Better Way to Make a Better Biofuel
Rick Wilson: 650-230-0750
Confidential 2CONFIDENTIAL
Biofuel plus green electricity
Huge market, government-mandated demand
Butanol – biofuel 2.0 (bio-gasoline & B20 bio-diesel)
Capital efficient, strongly profitable at today’s oil prices
Driven by engineering, protected by IP
Management team built to scale up the technology
Cobalt Snapshot
Confidential 3CONFIDENTIAL
Conventional Biofuel (Corn Ethanol)
Cellulosic Biofuel
Biomass-Based Diesel
Other Advanced Biofuel
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Cobalt’s OpportunityWoody Biomass
Agriculture ResidueEnergy Crops
U.S. Market – From Zero to 15 Billion GPY in 10 Years
Confidential 4CONFIDENTIAL
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2008 2010 2012 2014 2016 2018 2020 2022
Fuel – The World’s Largest Market
360 Billion gallons of gasoline consumed globally annually
Billion gallon global chemical market
Number of cars to increase 200 million (30%) by 2015; internal combustion engine will dominate
Corn ethanol capped, butanol to breakthrough blend wall
Butanol used as gasoline blend in the beginning
Confidential 5CONFIDENTIAL
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%
Confidential 6CONFIDENTIAL
High Margin
Premium Product (blend value above gasoline price, chemicals)
High yield (strain improvement)
Cheap feedstock (high impact, non-food)
Low Variable Costs (single product)
Low Capital
High productivity (bioreactor)
Low severity (pretreatment)
Energy integration
Cobalt’s Formula for High Returns
Confidential 7CONFIDENTIAL
Challenges for Competing Technologies
Confidential 8CONFIDENTIAL
Cobalt Scale Up Plan
Pilot plant testing mixed sugars since June 2009
Pilot plant testing softwood by December 2009
~1 million gallon per year facility operational 2011
10 million gallon per year facility operational 2013
50 million gallon per year facility operational 2014
Pilot FacilitiesMountain View CA: Bioreactor & distillationGolden, CO: Hydrolysis and conditioning
Confidential 9CONFIDENTIAL
The Team to Implement and Scale
Rick Wilson, PhDCEO
Amoco/BP
Steven K. ShevickCFO
Synopsys, Ausra
Mark DinelloSVP, Engineering and Ops
Amoco/BP
Hendrik Meerman, PhDDirector Bioprocessing
Genencor
David Walther, PhDDirector Engineering Research
UC Berkeley
Stacy Burns-Guydish, PhDDirector Microbiology
Stanford
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Cobalt: A Better Way to Make a Better Biofuel
Rick Wilson: 650-230-0750