1. POET Project LIBERTY Overview

2. Project LIBERTY Build and operate one of the worlds first commercial-scale cellulosic ethanol biorefineries Integrate cellulosic ethanol technologies with corn-based ethanol technologies 3 3. POET Biorefining - Emmetsburg 4. Key Project Deliverables 25 million gallons of ethanol annually A sustainable biomass collection, storage, and delivery system Reduced fossil fuel usage Viable and replicable model for multiple biorefineries 5 5. Corn CobsLIBERTY Design Cellulosic Ethanol Plant Hydrolysis &Fermentation Cob MHS DistillationCellulosic Pre-treatEthanolLignin Separator AlternativeSolids Liquids AlternativeEnergy BiogasEnergy SystemSystem 4 6. Project Status 1. Feedstock 1. Technology 3. Financing6 7. Feedstock - Why Cobs? Abundant supply Low soil nutrient levels More carbohydrate Higher density Collectible & sustainable Greater ethanol yield U.S. corn cobs represent over5 billion gallons of ethanol 13 8. Feedstock Requirement: o 770 bone dry ton (BDT) per day o 400,000 to 500,000 acres (~ third of corn acres in 35 mi. radius) Ethanol process can accept non-cob corn crop residue Up to 25% corn stover removal is environmentally sustainable7 9. Environmental Completed second year of field study with ISU Very sustainable at rate of