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Economics CAFI II Stage Gate Review Denver, CO May 1, 2007 Tim Eggeman* - Neoterics International

Economics CAFI II Stage Gate Review Denver, CO May 1, 2007 Tim Eggeman* - Neoterics International Richard Elander - National Renewable Energy Laboratory. NEOTERICS INTERNATIONAL Using Technology to Create Business Innovation. Block Flow. Enzymes. CO 2. Water. Hydrolysis +

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Economics CAFI II Stage Gate Review Denver, CO May 1, 2007 Tim Eggeman* - Neoterics International

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  1. Economics CAFI II Stage Gate Review Denver, CO May 1, 2007 Tim Eggeman* - Neoterics International Richard Elander - National Renewable Energy Laboratory NEOTERICS INTERNATIONAL Using Technology to Create Business Innovation

  2. Block Flow Enzymes CO2 Water Hydrolysis + Fermentation Feed Handling Stover Pretreatment Recovery EtOH Syrup + Solids Chemicals Water Boiler + Generator Steam Power

  3. Aspen Plus – GUI w/ Hierarchy

  4. Aspen Plus – GUI w/ Hierarchy

  5. Current vs. Goal Cases • Current: Laboratory Performance • Pretreatment • Conditioning • Enzymatic Hydrolysis • Fermentation • Goal: Likely Performance of Above Steps at Commercial Scale

  6. Solicit Guidance from CAFI Advisory Board • Enzymes • Loading • Type • Cost basis • Pretreatment Configuration • Reactor cost • Chemical recovery • Consistent basis for improvements • Fermentation • Conditioning • Concentration basis • Scale up of lab data

  7. CAFI 2 vs. CAFI 1 • Poplar vs. Stover • Improved Definition and Consistency of Modeling Assumptions • Improved/Tailored Enzyme Cocktails • Conditioning & Fermentability Tests

  8. Capital Costs Fixed - Direct Purchased Equipment Installation - Indirect - Contingency - Start-up Working Operating Costs Variable – Stover Enzymes Other Fixed - Labor Maintenance Insurance Depreciation Revenues Ethanol Sales Electricity Sales Discounted Cash Flow 2.5 yr Construction, 0.5 yr Start-up 20 yr Operation 100% Equity, No Subsidy Rational EtOH Pricing Rather Than Market Pricing 10% Real After Tax Discount Rate Performance Measures Total Fixed Capital Per Annual Gallon of Capacity Plant Level Cash Costs Minimum Ethanol Selling Price (MESP) Economic Modeling

  9. Results (Interim)

  10. Fixed Capital Stover Goal, Ideal Pretreatment

  11. MESP Cash Cost Plant Level Cash Costs and MESP $/gal EtOH Stover Current Cases, Proof Year: 4th Year of Operation

  12. Conclusions • Consistent Protocols and Materials • Improved Methodology vs. CAFI I • Yield Drives Economics

  13. Acknowledgements • US Department of Energy Office of the Biomass Program, Contract DE-FG36-04GO14017 • The National Renewable Energy Laboratory • Biomass Refining Consortium for Applied Fundamentals and Innovation (CAFI) • Natural Resources Canada • Genencor International

  14. Project Institutions

  15. Feedstocks

  16. Feedstocks

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