The Road to Awesome!

© 2014 LanzaTech Inc. All rights reserved.

Jennifer HolmgrenCEO, LanzaTech

Our Superheroes!

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Carbon is Pervasive

Boeing 787 - a carbon-fiber plane burning carbon-based fuel

Steel

Liquid Fuels

1,3-butadiene(precursor for rubber)

Heavy Industry

Transportation Fuels

Chemical Products

Steelmaking, ferroalloy production, and other industrialprocesses use carbon as a reagent

High energy density fuels allow for cars, boats, and planes

Carbon forms the backbone of all organic chemical and material products

Polyethylene Terephthalate(PET plastic)

NutritionOur biochemistry is entirely dependent on carbon, as is all

of the food that we eat

All food contains carbon

DNA: The green is carbon.

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But Problematic when Combusted

1. http://aliciapatterson.org/stories/china%E2%80%99s-rise-creates-clouds-us-pollution

Greenhouse Gas Emissions (CO2, CH4)• Combustion of carbon-containing energy sources inherently

produces CO2.

• Incomplete combustion and gas venting result in additional CO2 and CH4 emissions.

• These greenhouse gases have been identified as the primary cause of climate change.

• Greenhouse gas emissions are a global problem with global consequences.

Particulate Emissions (PM10, PM2.5)

• Carbon combustion also releases particulates into the atmosphere.• Accumulation of particulates in our air has severe consequences for

human health.• Particulates pose a local threat, and are the chief culprit of air pollution

that we can see, smell, and taste.• They are also a global problem! Studies have verified the presence of

particulates in the US that originated from fossil fuel combustion in China.1

NOx, SOx, and Hg Emissions

• Nitrous oxides, sulfur oxides, and mercury emissions are also a direct result of fossil fuel combustion.

• These emissions have a significant negative impact on human health, with a particularly strong link to respiratory illnesses.

• They are also detrimental to the local environment, as NOx and SOx are the primary cause of acid rain.

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Example: PM2.5 Readings

Daily Average PollutionThe World Health Organization (WHO) guidelines consider anything over 10 micrograms per cubic meter of PM2.5 to be hazardous to health

10 Worst Chinese Cities 10 Worst U.S Cities

Sources: Chinese Ministry of Environmental Protection, American Lung Association and WHO. Simon Denver andRichard Johnson/The Washington Post. Published on February 2, 2014, 5:46 p.m.

XingtaiShijiazhuang

BaodingHandan

HengshuiTangshan

JinanLangfang

Xi’anZhengzhou

Bakersfield, CAMerced, CAFresno, CA

Hanford, CALos Angeles, CA

Modesto, CAVisalia, CA.

Pittsburgh, PAEl Centro, CA

Cincinnati, OHWashington, DCWHO guideline 10

155.2148.5

127.9127.8

120.6

114.2114.0113.8

104.2102.4

18.2

18.2

1716.216.215.3

15.21514

13.810.6

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The Carbon Imperative

Utilize Only as Much Carbon as we Must!

Energy can be Carbon free

Wind:

Solar:

Hydro:

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Liquid Fuels & Petrochemicals

must contain

C

Efficiency: Recycle C

The LanzaTech Process

Gas Feed Stream

Gas Reception Compression Fermentation Recovery ProductTank

• Process recycles waste carbon into fuels and chemicals

• Gases are sole source of carbon and energy for the organism

• Potential to make material impact on the future energy pool (>100s of billions of gallons per year)

Novel gas fermentation technology captures CO-rich

gases and converts the carbon to fuels and chemicals

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ProprietaryMicrobe

C

Sources of Carbon

Traditional (Virgin) Recycled or Underutilized

Get as Much Value as we Can from Every Carbon Molecule9

LanzaTech complements industries that require carbon, by reusing their residual carbon.

The process turns waste from carbon based processes into additional fuel and chemical products that require carbon.

This reduces global fossil carbon requirements by making more efficient use of carbon. It also means a net reduction in local air pollution associated with combustion of carbon-based residues.

Enabling Industrial Carbon Efficiency

The Steel Industry is one example:

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By making more efficient use of the carbon required by industry, we burn less carbon overall reducing global GHG.

On a local level, burning less carbon means lower PM, NOx, and SOx emissions.

Carbon Efficiency Means Cleaner Air

LanzaTech ethanol has lifecycle carbon emissions that are 70% less than that of fossil gasoline. The process also reduces local

PM, NOx, and SOx emissions by more than 85%.

Air Pollutant Comparison between LanzaTech Ethanol and Electricity Production from BOF Gas

FlaringPower GenerationLanzaTech Fermentation

Particulate Matter NOx SOx

g/M

J G

as

0.12

0.08

0.04

0.02

0

0.1

0.06

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2008

Many Sources of Carbon onPath to Commercialization

Tang Ming Group

2013

2012

2014 2015

• Two Demonstration facilities in China 100,000 gallon/year ethanol capacity ‒ Exceeded all production and performance milestones‒ Commercial facility approved for construction 2014

• Demonstration facility in Taiwan 12,000 gallon/year ethanol capacity with LCY and China Steel

• China commercial facility in design; financing secured

• MSW Mobile Lab in Asia demonstrated operation with a syngas stream• MSW Demonstration facility in Asia 6,000 gallon/year ethanol capacity Q4 2014• Integrated syngas to Butadiene Demonstration facility Q1 2015 in Korea with SKI

Industrial Off Gases

SynGas12

Asia

Asia

CH4Associated Gas,

Biogas

BiomassSolid WasteIndustrial, MSW,

DSW

Waste Carbon as a Resourcefor Product Synthesis

Inorganic CO2

COCO CO + H2CO + H2 CO + H2 + CO2CO + H2 + CO2 CO2 + H2CO2 + H2 CO2 + H2O + e-CO2 + H2O + e-

Fuels Chemicals

Gas Fermentation

Reforming Gasification RenewableElectricity

H2

Industrial Waste Gas

Steel, PVC, Ferroalloys

Food13

Imperial College of London

Commercialization of Aviation Fuel

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Production of jet fuel from LanzaTech ethanol demonstrated in 2012

Off-take agreement executed with Virgin Atlantic ASTM certification: Key next step

Industrial WasteBiomass

NGCoal

MSW/DSW

Syngas

2,3-BDO

AdvancedBiofuel

Butadiene

Ethanol

Global Market Size: ~4.9 million tons, ~$13 billion

Styrene Butadiene Rubber (SBR)

PolybutadieneRubber (BR)

Global Market Size: ~3 million tons, ~$8 billion

Global Market Size: ~8 million tons, ~$16 billion

Global Market Size: ~1.8 million tons, ~$6.9 billion

Acrylonitrile Butadiene Styrene(ABS) Resins

Nylon 6,6(from Adiponitrile/HDMA)

Global Market Size: ~11 million tons, ~$22 billion

Butadiene: Key Chemical Intermediate

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Pyruvate

CO/H2

Acetyl-CoA

Fatty Acids,Terpenoids

Discovery LabCont.

Culture

Pilot/Demo

Ethanol

i-PropanolAcetone

3-HB

D-(-)-2,3-Butanediol

MEK

FAEE/FABE

Farnesene

1 organism, >20 products…so far!

Succinate

sec-Butanol

n-Butanol

Lactate

meso-2,3-butanediol

Acetoin

3-HP

Isoprene

1,2-PDO

Acetone

i-Propanol

Propanal

n-Propanol

Butyrate

1,3-BDO

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CH4Associated Gas,

Biogas

BiomassSolid WasteIndustrial, MSW,

DSW

Waste Carbon as a Resourcefor Product Synthesis

Inorganic CO2

COCO CO + H2CO + H2 CO + H2 + CO2CO + H2 + CO2 CO2 + H2CO2 + H2 CO2 + H2O + e-CO2 + H2O + e-

Fuels Chemicals

Gas Fermentation

Reforming Gasification RenewableElectricity

H2

Industrial Waste Gas

Steel, PVC, Ferroalloys

Food17

CO2

H2

AcetateCarbonSource

EnergySource

2nd fermentation Patent filed, optimization underway

Conversion of Acetate to Lipids

Yeast

Algae

Hydrocarbon Transport Fuels>US $ 3 trillion/year

OleochemicalsUS $15 billion/yr

Food, Nutritional SupplementsUS $25 billion/yr

Animal FeedsUS $370 billion/yr

EnergySource

CarbonSource

• Yeast accumulate lipids to >70% of their cell mass

• Algae accumulate lipids to >50% of their cell mass• 40% of algal lipids content are Omega-3 fatty acids

(Specifically DHA)

Lipids Product Markets

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Building a Sustainable Company

Capital-light Licensing Business Model

Diverse AND Flexible Feedstocks AND End Products

Extremely Competitive Production Economics

Without Incentives

Carbon Capture and Reuse can Change the View of Carbon

Leveraging Gas Fermentation Technology

Extensive Synthetic Biology Platform to Enable Future

Growth

Partnerships that Drive Customer Value and Future

Success

Combining Disruptive Technology with Business Model Innovation

A New Normal

Woman on Catwalk in a Fashion Show, ShanghaiAs Shown in Taiwan Paper 12/7/13

Cuyahoga River: 1969

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Resulted in:Clean Water Act, 1972Great Lakes Water Quality AgreementCreation of the federal and state Environmental Protection Agencies

We all Need to be Superheros!