Barley Protein Concentrate and Ethanol
Montana Microbial Products
Fuel and Food
OpportunityOpportunity MMP developed barley protein MMP developed barley protein
concentrate, ethanol co-productconcentrate, ethanol co-product 60% high quality protein product 60% high quality protein product Demonstrated as a replacement Demonstrated as a replacement
for fishmeal in aquaculture feedfor fishmeal in aquaculture feed Potential markets in poultry, hog, Potential markets in poultry, hog,
and specialty feedsand specialty feeds Very Profitable, high value Very Profitable, high value
productsproducts
Aquaculture MarketAquaculture Market Replacing Fishmeal Replacing Fishmeal
The fastest growing sector of agricultureThe fastest growing sector of agriculture Fishmeal $3 billion market for protein Fishmeal $3 billion market for protein
ingredient in feeds for farmed fish, ingredient in feeds for farmed fish, Need for alternativesNeed for alternatives
Supply, price will limit aquaculture growthSupply, price will limit aquaculture growth Depletion of ocean fisheriesDepletion of ocean fisheries Organic toxins, and phosphorus pollutionOrganic toxins, and phosphorus pollution
Major research effort to develop plant Major research effort to develop plant based protein sources to replace based protein sources to replace fishmealfishmeal
Barley Protein Barley Protein ConcentrateConcentrate
““The first plant protein to replace The first plant protein to replace 100% of fishmeal in trout diets” 100% of fishmeal in trout diets” USDAUSDA
The first plant protein with the:The first plant protein with the: Nutritional QualityNutritional Quality Competitive CostCompetitive Cost Potential VolumePotential Volume
To replace fish meal in feeds for To replace fish meal in feeds for high value farmed fishhigh value farmed fish
Trout Growth StudiesTrout Growth StudiesSubstitution of Fish Meal with Barley Protein
Concentrate; 12 Weeks
155
160
165
170
175
180
185
190
195
200
100% FishMeal
33%/66%FM/BPC
66%/33%FM/BPC
100% BPC
Gain (g/fish)
Market EntryMarket Entry
First Market US TroutFirst Market US Trout27,500 tons 75% in South Idaho, 27,500 tons 75% in South Idaho,
Customers 3 feed manufacturersCustomers 3 feed manufacturersFirst production plant MontanaFirst production plant Montana
5,300 tons BPC, 1.7 million gallons 5,300 tons BPC, 1.7 million gallons ethanol, 800,000 bu barleyethanol, 800,000 bu barley
Profitable in the first full year of Profitable in the first full year of operationoperation
BPC Competitive AdvantageBPC Competitive Advantage
MMP will sell BPC based on MMP will sell BPC based on three compelling advantagesthree compelling advantagesLower, stable priceLower, stable priceEquivalent or better feed Equivalent or better feed conversion efficiencyconversion efficiency
Zero Phosphorus discharge Zero Phosphorus discharge from BPCfrom BPC
Market OpportunityMarket Opportunity Trout – 511,00 metric tonsTrout – 511,00 metric tons
US Trout -27,500 tonsUS Trout -27,500 tons Salmon – 1,409,000 metric tonsSalmon – 1,409,000 metric tons
Norway – 600,000Norway – 600,000 Australia – 16,000Australia – 16,000
Chile – 485,000Chile – 485,000 Ireland – 15,000Ireland – 15,000
UK – 125,000UK – 125,000 New Zealand – 10,000New Zealand – 10,000
Canada – 125,000Canada – 125,000 US – 10,000US – 10,000 Shrimp – 3,200,000 metric tonsShrimp – 3,200,000 metric tons
Fishmeal >1.5 million tons in these marketsFishmeal >1.5 million tons in these markets
Expansion StrategyExpansion Strategy Expand Montana Production, North Expand Montana Production, North
American SalmonAmerican Salmon 30,000 tons BPC, Replace 1/3 of N.A. protein30,000 tons BPC, Replace 1/3 of N.A. protein
12 million gallons ethanol12 million gallons ethanolUse 6 million bushels barleyUse 6 million bushels barley
License Technology into International License Technology into International MarketsMarkets
Salmon trout: Europe, South AmericaSalmon trout: Europe, South America Shrimp: Asia, South AmericaShrimp: Asia, South America Other species: Other species:
StatusStatus Independent testing and commercial Independent testing and commercial
trials with trout completed, willing trials with trout completed, willing buyersbuyers
Good results in other species of fish. Good results in other species of fish. Salmon trials on-going.Salmon trials on-going.
Pilot plant operated at commercial Pilot plant operated at commercial flow rates but batch vs continuous flow rates but batch vs continuous operation- no scale-up issues.operation- no scale-up issues.
Engineering complete for commercial Engineering complete for commercial plantplant
Conditional purchase orders for BPC Conditional purchase orders for BPC and ethanoland ethanol
Financing RequirementsFinancing Requirements$12M project produces 5,300 tons $12M project produces 5,300 tons
of BPC, approximately 2M of BPC, approximately 2M gallons of ethanol, and 19 high gallons of ethanol, and 19 high paying jobs:paying jobs:Cash positive in second month of Cash positive in second month of
operation.operation.EBTDA $2.8M first year opeationEBTDA $2.8M first year opeationHave commitment of $5.0M from VC Have commitment of $5.0M from VC
firm, need additional equity or bank firm, need additional equity or bank loanloan
Win, Win, WinWin, Win, Win
Solutions for sustainable aquacultureSolutions for sustainable aquacultureImproved aquaculture economicsImproved aquaculture economicsValue-added products from low input Value-added products from low input crop crop Renewable fuelsRenewable fuelsRural jobs Rural jobs Higher farm incomesHigher farm incomesSolves environmental issuesSolves environmental issuesGood profitabilityGood profitability
Good Project for Montana, Good Project for Agriculture, Good Project for Aquaculture
How do we get it done?
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