[ 1 ]CONFIDENTIAL

Commercializing Macroalgae: The Future of Feedstocks for Industrial Biotechnology

[ 2 ]CONFIDENTIAL

HISTORY Founded in 2008 by Dr. Yasuo Yoshikuni and Yuki Kashiyama

STRATEGIC CONTROL POINT

Blocking IP that uniquely enables the production of low cost bio-based chemicals and fuels from macroalgae

FUNDING

Predominately non-dilutive funding (75%) from marquee partnerships

• Chilean Government• Statoil (Norway)• DuPont (US)• United States Department of Energy

VALUE PROPOSITION

Producing a sustainable and scalable low cost sugar alternative from macroalgae

STRATEGYCoupling our proprietary microbial technology and macroalgae aquafarming to enable partners to produce renewable fuels and chemicals

About Bio Architecture Lab

[ 3 ]CONFIDENTIAL

The Global Feedstock

[ 4 ]CONFIDENTIAL

FERMENTABLE SUGAR REQUIRED TO SUPPORT GLOBAL BIOFUEL GROWTH

2008 2015 2020 2025 2030 2035

174278

325371 405

475

Million Metric Tons of Sugar

Source: EIA 2010 International Energy Outlook, 2010

Sugar is the “New Crude Oil”

■ Conventional sugar producers may not be able to support this global demand

■ Significant upward pressure on conventional corn and sugar prices

■ Both corn and sugar cane compete for arable land and freshwater

■ BAL value proposition is to deliver fermentable sugars at 6-12 cents per pound

[ 5 ]CONFIDENTIAL

Macroalgae is the Ideal Biomass for Sugar Production

■Fastest Growing Plants on Earth

■Well Studied Aquafarming■Perennial Biomass

ABUNDANT

■Local Species Available■Significant Coastline

Farming Potential■Demonstrated

Commercial Scale Farms

SCALABLE

■No Competition for Land ■No Fresh Water■Beneficial to the Oceans■Low Carbon Footprint

ENVIRONMENTAL

■High Sugar Content■No LIGNIN to degrade ■Competitive with Brazilian

Sugar Cane■Co-product Opportunities

LOW COST

[ 6 ]CONFIDENTIAL

Macroalgae is a Global Feedstock That Can Scale to Meet World Sugar Demand

Optimal Macroalgae Areas

[ 7 ]CONFIDENTIAL

The BAL Solution

[ 8 ]CONFIDENTIAL

Synthetic Biology is BAL’s Strategic Control Point

Macroalgae Conversion Fermentation Fuels and Chemicals

OligoalginateAlginate Polymer

DEHU

Transporter

GlycolysisKDG

Product

■ Only BAL technology can metabolize the sugars in seaweed to make it an economically viable biomass.

■ BAL has a multi-platform technology that can convert macroalgae into both renewable fuels and chemicals

■ Blocking IP internationally■ BAL technology is applicable

to any microbial product ■ BAL technology can

metabolize the sugars in most species of seaweed

■ Pilot Plant June 2012

[ 9 ]CONFIDENTIAL

DiverseMacroalgae Species

Saccarina japonica

Macrosystis pyrifera

Other Macroalgae -Durvilla, Lessonica, Sargassum

DiverseHost Microbes

E. coli

Yeast

Other Microbes

BAL Technology Platform is Macroalgae, Microbe, and Product Agnostic

Risk Reduction

DiverseProduct Portfolio

Chemicals

Butanol

Ethanol

Ethanol

[ 10 ]CONFIDENTIAL

The BAL Team

[ 11 ]CONFIDENTIAL

An Experienced Management Team

Daniel Trunfio CEO

Dr. Rich Bailey CTO

Ric Lucien CFO

Yuki Kashiyama Founder, Gerente General, Chile

Dr. Yasuo Yoshikuni Founder, CSO

Dr. Alejandro Buschmann World Renown Seaweed Expert

Dr. Candace Swimmer Sr. Director, Research

Ajay Kshatriya Director, Commercial

Commodity and Supply Chain

Biology andProcess Development

Strategy and Commercialization

[ 12 ]CONFIDENTIAL

Marquee Investors and Strong Funding

$38M

Grant from Chilean Economics Development Agencyfor Ethanol Production

Grant from ARPA-E (DOE) for Butanol Production

Statoil Strategic Partnership for Ethanol Demonstration and Commercialization

Seed and Series A Energy Capital Management

Non-Dilutive

Equity

[ 13 ]CONFIDENTIAL

Thank You

STRONGPARTNERSHIPS

COMPANYMOMENTUMFIRST MOVER

SIGNIFICANTDEMAND

EXPERIENCEDTEAM

COMPELLINGBIOMASS