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Transcript of 2013 peterocemical ihs
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Bio-Based Paraxylene for PET
Bringing BioBased Paraxylene Through the PET Supply Chain with Key Partnerships
Kieran Furlong, Director Chemicals Business Development
4th Annual Infocast Biobased Chemicals Summit, January 29th 2013
© Virent 2012
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© Virent 2012 2
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© Virent 2012 3
Wall Street Journal, May 15th 2012
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© Virent 2012 4
Wall Street Journal, May 15th 2012
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Virent at a GlanceThe global leader in catalyt ic b ioref inery research, development, and commercia l izat ion
Employees
Technology Infrastructure
120 Employees
25x Development Pilot Plants
1x 10,000 gal/yr Demo Plant
Partners & Investors
Converting plant-based feedstocks
to fuels and chemicals
© Virent 2012 5
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Global Petrochemical Market
Ethylene
Assoc. gases / Naphta
127
Mt/a
Estimates of world demand , 2011
Sources: IHS Chemical, ICIS.
Propylene Butadiene* Benzene Toluene Xylene
Olefins Aromatics
Crude Oil
79
Mt/a
11Mt/a
41
Mt/a 29
Mt/a
43
Mt/a
Natural Gas Liquids
• Approximately 330M tonnes in 2011
• Market value ~ US$440B
• BTX Market value ~ US$130B
Virent focusing on BTX
© Virent 2012 6
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Global Petrochemical Market
Benzene Toluene Xylene
Aromatics
Nylon PolyesterPolyurethanePhenolicsPolycarbonatePolystyrene
© Virent 2012 7
Same polym ers, same performance, same equipm ent
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BTX Aromatic Product Tree
BTX Complex
Ortho-Xylene Meta-Xylene Para-Xylene Toluene Benzene
• Plasticizers
• Polyethylene
Naphthalate (PEN)
• Purified Isophthalic
Acid (PIA)
• Polyethylene
Terephtlate (PET)
• Purified Terephtalic Acid
(PTA)
• Polyehtylene
Terephthatlae (PET)
• Toluene Diisocyanate (TDI)
• Polyurethate Foams
• TNT
• Polycarbonates
• Phenolic Resins
• Nylon 6
• Polystyrenes
8© Virent 2012
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PX World Market
2010 2020
$39B
30Mt 57Mt
Worldmarket
size(2010 USD)
Worldconsumption(million metric
tons)
$116B
Sources: PCI; EIA.
© Virent 2012 9
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Global PET Usage and GrowthWorld PET (Film, Fiber and Resin) Production Polyester Polymer Usage by Type - 2011
Data compiled from PCI. Data compiled from CMAI World Petrochemical Conference - 2011.
6.5%/yr
6.8%/yr
5.8%/yr
CAGR
Growth
Primary use of PX is conversion to PTA and then PET
Global PET is projected to double from 2010 to 2020.
Fiber is the main use of PET
Majority of PET and PX production is in the Asia/Pacific region
© Virent 2012 10
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Global Benzene Uses and Growth2011
© Virent 2012 11
Benzene
41.5 M Metric Tons
3.3%/yr
Ethylbenzene
51%
3.2%/yr
Polystyrene
Cumene
20%
3.75%/yr
Polycarbonates
Phenolic Resins
Cylcohexane
10%
2.1%/yr
Nylon 6
Nitrobenzene
7%
4.5%/yr
Polyurethanes
Alkyl Benzene
3%
2%/yr
LAB/LAS
Data adapted from IHS World Petrochemical Conference –
2012 (Moorhouse).Growth Rates are from 2011 to 2016.
Major Benzene derivatives
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Benzene Global Supply and Market Considerations
Shifting towards lighter feedstocks in crackers will produce less benzene
Increased ethanol blending may reduce need for aromatic octane boosters in gasoline
Decrease in US gasoline demand lowers need for reformate
MSAT 2 decreases amount of benzene that can be present in gasoline
Data adapted from IHS World Petrochemical Conference – 2012 (Moorhouse).
Sources of Benzene Produc t ion – 2011 (IHS)
0.00
0.05
0.10
0.15
0.20
0.25
Ethane Propane Butane LightNaphtha
HeavyNaphtha
Gasoil
Lighter Feedstocks
Pygas
39%
Reformate
36%
Coke
Oven
5%
PX Co-
Product16%
HDA,
4%
Benzene (t) pro duc ed per uni t of ethy lene (t)
© Virent 2012 12
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Why are customers interested?
© Virent 2012 13
Diversifying supply & tackling volatility Consumer interest and demands
New PTA capacity not matched by PXSupply as co-product diminishing
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BioForming® Technology
© Virent 2012 14
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Virent’s BioForming® Technology
Fast and Robust Inorganic Catalysts
Moderate Conditions
Industry Proven Scalability
Energy Efficient Exothermic
Low Energy Separation
Low Carbon Footprint
Premium Drop-in Products Tunable Platform
Infrastructure Compatible
Fuels and Chemicals
Feedstock Flexible Conventional Sugars
Non-Food Sugars
Leading catalytic route to renewable hydrocarbon fuels and chemicals.
Virent’s “Eagle” Demonstration Plant - Madison, WI
© Virent 2012 15
>50 issued/allowed patents>150 pending patent applications
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The BioForming® Concept
Corn
Slide 16
Reformate
Distillate
APR/HDO
ModifiedZSM-5
Condensation+
Hydrotreating
AromaticsGasoline
Jet FuelDiesel
Biomass
Sugar Cane
Corn
© Virent 2012 16
Biob ased feedstoc ks to direct replacement produc ts
APR prepares biomass derived feedstocks for optimal
conversion into hydrocarbons Feedstocks to APR include any water soluble carbohydrate Option for natural gas co-processing (HDO) can improve
yields and economics Demonstrated process yields are > 80% of theoretical
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The BioForming® Concept
Corn
Slide 17
APR/HDO
ModifiedZSM-5
Condensation+
Hydrotreating
Biomass
Sugar Cane
Corn
© Virent 2012 17
Biob ased feedstoc ks to direct replacement produc ts
Intermediates
Alcohols
Ketones
Aldehydes
Furans
Polyols
Potential
products for use
as solvents,
monomers, etc
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Partnership
Slide 18© Virent 2012 18
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PET Supply Chain
19
Crude
Oil
Reformate
BTX PX PTA
PET resin Preform Bottle
Cracked
Naphtha
Biomass Reformate BTX PX
Virent
PET fiber Textile Clothing
BioFormPX
Brand
Supply chain innovation
Opportunity to vertically integrate all the way back to raw feedstock. Reduce exposure to crude oil volatility, increase security of supply.
Address sustainability requirements of the consumer and regulator.
No impact to recycling infrastructure.
Three integration points enable flexible entry to existing supply chain
© Virent 2012
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Coca-Cola & Virent Partnership
2011 - Virent and The Coca-Cola Company sign agreements to
develop and supply PX for 100% renewable, recyclablePlantBottle™
Multi-million dollar, multi-year agreements with Virent
Joint Development Agreement
Supply Agreement
Supporting Virent’s plans for first chemicals plant
© Virent 2012 20
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100% Bio-based Paraxylene
Virent's plant-based paraxylene
© Virent 2012 21
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Summary
Growing demand for bio-based aromatics due to
Consumer demands and desire for differentiation
Shifts in petrochemical supply dynamics and fears
Tackling volatility with a portfolio approach
Partnership value to start-ups include
Economic de-risking of new projects Funding
Leverage in existing supply chain
Defining which criteria are important (e.g. sustainability)
Co-location (with manufacturing partners)
Technology and product validation
© Virent 2012 22
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Virent converts plant-based sugars into 100% renewable chemicals and fuels. Our bio-based products are identical to those produced from petroleum — direct replacements
that utilize today’s manufacturing, storage and supply chain infrastructure. If you are
interested in strategic partnering opportunities please contact:
Kieran Furlong, Director of Chemicals Business Development
Thank you.
© Virent 2012