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CONFIDENTIAL MLSCF CEO Life Sciences Conference, 6 October 2009 Jim Flatt, Ph.D. Mascoma Corporation Development and Commercialization of Consolidated BioProcessing for Cellulosic Biofuels Production

09 CeoMeeting- Session2- Mascoma

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Session 2: Industrial Biotechnology Title: Replacing Fossil Fuels – How Do We Scale Up Without Compromising On Food And Environment? Dr Jim Flatt, Mascoma

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  • 1. Development and Commercialization of Consolidated BioProcessing for Cellulosic Biofuels ProductionMLSCF CEO Life Sciences Conference, 6 October 2009Jim Flatt, Ph.D. Mascoma Corporation CONFIDENTIAL

2. Mascoma Background Team Founded502 by Charlieyman & LeeLyndfrom DartmouthCollege, Wworld renownedleadersin cellulosicbiofuels research Experienced industryleadershipteam 70 + persontechnologyteam principallybasedin NH Consolidated Bioprocessing (CBP) Technology Gamechanging widely consideredto be the ultimate lowrcostconfigurationfor cellulose hydrolysisandfermentation DOE/SA JointResearch UAgenda Enableslowrcostbiologicalconversionof cellulosicbiomassto a broadrangeof products Lowcostandabundantfeedstock(currentlytargetinghardwoods)Facilities CorporateOffice& Lab Pilot & DemoPlant (Rome,NY) Commercial acilityPlanned(inross, Michigan) FK $49.5M in stateandfederal grants 3. Track Record of Securing Significant Private and Government Funding Raised 0 $1Million of equity Strategicinvestmentsbyindustryrleadingpartners Financial investmentsfromtoprtier venturecapital funds Awardedover $60 million in FederalandState Confidentialgovernmentfunding 4. Why Consolidated Bioprocessing? lower coststhrough enzymereductionandprocesssimplification Conventional Approach Mascoma ApproachFeedstock SupplySteam & PowerGenerationWasteTreatment Mascoma Conditioningfocus Enzyme Hydrolysis SupplyConditioning Fermentation Key DevelopingDistillation Technology& Storage 5. CBP Organism Development Strategy Goal Cellulose Utilization Ethanol Producergreenfield retrofitapplicationapplication C.thermocellumT.saccharolyticumYeastSubstrate Strategy Metabolism Strategy Cellulose UtilizationCommonalitiesX Cellulose Utilization X Ethanol ProducerEthanol Producer 6. Mascoma Recombinant Cellulolytic Yeast March,2007 to December, 2008: >3,000rfold improvement in expression levels 7. Enzyme Reductionon HardwoodEquivalent performance with 2.5 rfold less added enzymeFurther reduction anticipated 8. Proof of Concept: CBP Yeast Ferments Paper Sludge toEthanol with no added cellulasePositive Control 50 85% Appearance at 120 hrs.Yield 40 Ethanol Yield (g/L) CBP30 20 10 CBP strainnon-CBP Negative ControlstrainM1179 0 0 20 4060 80 100 120 140Fermentation Time (hours) 18% solids, 1 mg/gTS 9. CBP Scalerup Rome Demonstration Facility6050 Milestones Concentration (g/ l)40 first E85 produced 11/0830 CBP scale-up Q1.0920 process engr. 2009 - 10100 0 20 40 60 80100 Age (h)120 140 160 180November 2008Confidential 10. Promising Initial Results on Palm ResiduesScreening Test on Palm Residue Types aqueous-based pretreatment stem has highest yield low lignin (17 18%) Palm ResidueCarbohydrate Yield Max Ethanol Yield(% theoretical)(gal/mt) Empty Fruit Bunch73 62 Stem 80 76 Frond71 62 11. Mascoma Business Model Diversify Feedstock form funded collaborations to tailor Mascoma technology to otherfeedstocks e.g. paper sludge, palm residue and bagasse equity participation for both parties Diversify End products form funded collaborations to adapt Mascoma technology toproduce non-ethanol products Commercial Rollout with Regional Partners form JV with local partners value capture for JV partner and Mascoma via equity multiple plant focus non-ethanol products 12. Conclusions success hardwoodcanbe leveragedto other on cellulosicfeedstocks, includingpalmresidues