A NIDUS PORTFOLIO COMPANY
Biobased Technologies as the Forefront
for the Value Addition to the Palm Oil Industry
BIOMALAYSIA 2015
Kuala Lampur
August 17 - 19, 2015
Laboratory
Corporate
505 S Rosa Road, Suite 112
1005 N Warson Road, Suite 401 St.
Madison, WI 53719
Louis, MO 63132
What is Biomass?
Biological material derived from living, or recently
living organisms.
•
Wood
• Lignocellulose
•
Non-Wood
• Oil, Sugar, Starch
•
Animal
• Fats, Proteins
2
Aggregated Biomass
Primary Industry By-Product
Plentiful and Geographically Dispersed
NA 46M
MX 14M
AS 15M
EU 18M
CN 15M
US 9M
VN 32M
TH 14M
CA 16M
CO 9M
Mass in dry MMT/yr
Bagasse 189 (Top 10 Markets)
Pulp
95 (Top 4 Markets)
POEFBs 22 (SE Asian Markets)
22M
AU 14M
BZ 53M
PK 4M IN 25M
http://www.indexmundi.com/agriculture/?commodity=palm-oil&
http://www.nationmaster.com/country-info/stats/Energy/Bagasse/Production
http://www.forestindustries.se/documentation/statistics_ppt_files/international/global_pulp_production_by_region
3
Malaysia Oil Palm Biomass
• 5.0M hectares cultivated
– 19.6 M tonnes crude palm oil/year
• 1,000 kg Fresh Fruit Bunch Yield
–
–
–
–
–
–
234 kg Empty Fruit Bunch
225 kg Crude Palm Oil
180 kg Fibre
180 kg Sludge
73 kg Wet Shell
67 kg Kernals
• 20M tonnes Empty Fruit Bunches/year available for conversion
• Does not include fronds, trunks, or other biomass types
http://www.mpob.gov.my/en/palm-info/environment/520-achievements
http://bepi.mpob.gov.my/index.php/statistics/production/125-production-2014/659-production-of-crude-oil-palm-2014.html4
http://lipidlibrary.aocs.org/processing/palmoil/index.htm
Biomass to Chemicals Opportunities
Hemicellulose
Xylose
Furfural
Paper Pulp
Dissolving Pulp
Levulinic Acid
Lignocellulosic
Biomass
Cellulose
Glucose
“Native” Lignin
Value Addition
GVL
Ethanol (by others)
HMF
Ethanol (by others)
Forest Products Lab
Collaboration
BHMF
DMF
FDCA
BHMTHF
University of Tennessee
Collaboration
5
Economic Opportunity - Malaysia
Palm Oil Production (tonnes)
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0
2007 2008 2009 2010 2011 2012 2013 2014
http://www.renewablematter.eu/art/44/The_War_for_Biomass
http://bepi.mpob.gov.my/index.php/statistics/production/125-production-2014/659-production-of-crude-oil-palm-2014.html
6
Diversification Opportunity
Producing a variety of high value chemicals and materials
Palm Oil Price (USD)
1400
Product
Price (USD/mt)
1200
1000
800
600
400
200
Jul-15
Feb-15
Sep-14
Apr-14
Nov-13
Jun-13
Jan-13
Aug-12
Mar-12
Oct-11
May-11
Dec-10
Jul-10
0
HMF Derivatives
Furfural
Pulp (Dissolving)
Lignin (Product)
Palm Oil
Pulp (Paper)
Glucose
Lignin (Fuel)
7,000
1,400
800
600+
500
450
320
100
7
Product Line Extension Strategy
Capturing and retaining more value in Malaysia
Palm Oil Revenues
~USD 2,000/Hectare/Year
Biomass Conversion Revenues
~USD 750/Hectare/Year (lignin as fuel)
~USD 1,000/Hectare/Year (lignin as product)
Additive Revenues – EFB’s only
8
Biomass Use to Increase Malaysia’s GDP
• Biomass Conversion Premise
– USD 190 - 260 Revenue/mt (moist) EFB
• GDP Contribution from 50% EFB Conversion
– USD 3.8B - 5.2B
• Question?
– How to transform abundant EFBs (and other biomass)
into a resource to make higher value products?
9
Biomass Conversion Alternatives
•
Aqueous Enzymatic Hydrolysis
– Enzymes used to catalyze biomass deconstruction
•
Aqueous Acid Hydrolysis
– Protic acid used to catalyze biomass deconstruction
•
Aqueous Supercritical Hydrolysis
– Supercritical water (374 Deg C and 221 bar) used to catalyze biomass deconstruction
•
Pyrolysis
– Thermochemical decomposition of biomass at high temperatures absent oxygen
•
Gasification
– Biomass conversion into carbon monoxide, hydrogen, and carbon dioxide
•
Hydrothermal Liquifaction
– Biomass conversion into bio-oil or biocrude under moderate temperature and high
pressure
10
GlucanBio Biomass Conversion
• Organic Liquid Phase Catalysis
– Same hydrolysis chemistry, novel solvent
• Gamma Valerolactone (GVL)
• Peer reviewed technology
– Published in Science and Green Chemistry journals
• Renewable and Environmentally Friendly
– Made from biomass
– Food additive in low concentrations
11
GVL Solvent Advantages
•
Gamma-Valerolactone (GVL)
– Increased reactivity of mineral acids:
• Hydrolysis reaction rates (100 X vs. water)
• Dehydration reaction rates (30 X vs. water)
• Low severity hydrolysis (time, temperature and acid concentration)
– Biomass flexibility - Works with a variety of lignocellulosic biomass types
• Can use “wet” biomass or mixes of biomass
– Solubilizes lignin/humins for subsequent recovery
• Minimizes formation of solids inside the reactor
– High concentrations of furfural and C6 sugars can be achieved
– Biomass fractionation – Separate C5 , C6 sugars, and lignin streams
• Sugars are suitable for fermentation or production of furans
– Stable under reaction conditions
12
Biomass Analysis – C5 Extraction
Summary of C5 extraction from Various Malaysian
Samples using Triversa ProcessTM
100
C5 sugars
Furfural
90
80
Yield (%)
70
60
50
40
30
20
10
0
EFB, 2nd Layer Bark, Coconut Shell, Mesocarp Fibers and PK Shells are
competitive with traditional sources of furfural (corn cobs, oat hulls, bagasse)
13
Cellulose to Glucose – Minutes vs. Days
The cellulosic fraction (C6 sugars) can be converted into glucose in minutes
EFB pulp
100
90
80
Yield (%)
70
60
50
Levulinic acid
40
HMF
30
Glucose
20
10
0
7
17
27
37
Time (min)
47
57
270-300 kg of glucose can be produced from MT of dry EFB
14
Biomass Analysis
Structural Carbohydrate Analysis of Malaysian Biomass
Sago Pith
Sago Bark
Nipah Leaves
Coconut Shell
Hexosan (C6) = 55.8%
(Starch = 33%)
Pentosan (C5)= 9.7%
Hexosan (C6) = 38.7%
Pentosan (C5)= 16.7%
Hexosan (C6) = 25.2%
Pentosan (C5)= 15.0%
Hexosan (C6) = 25.3%
Pentosan (C5)= 25.0%
Wood Chips
Sago 2nd Layer Bark
Empty Fruit Bunches
Coconut Husk
Hexosan (C6) = 37.8%
Pentosan (C5)=12.1%
Hexosan (C6) = 39.6%
Pentosan (C5)= 22.9%
Hexosan (C6) = 34.2%
Pentosan (C5)= 22.5%
Hexosan (C6) =19.9%
Pentosan (C5)= 14.2%
Pentosan (C5) -> Xylan (major) + (Mannan+Galactan) (minor) + Arabinan
15
Biomass Analysis
Structural Carbohydrate Analysis of Malaysian Biomass
Mesocarp Fibers
Palm Kernel Shells
Oil Palm Stalks
Hexosan (C6) = 30.3%
Pentosan (C5)= 26.6%
Hexosan (C6) = 21.9%
Pentosan (C5)= 25.9%
Hexosan (C6) = 36.0%
Pentosan (C5)= 25.7%
Oil Palm Rachis
Decanted Cake
Pruned Leaves
Hexosan (C6) = 28.3%
Pentosan (C5)= 21.7%
Hexosan (C6) = 16.9%
Pentosan (C5)= 11.9%
Hexosan (C6) = 17.5%
Pentosan (C5)= 15.1%
Pentosan (C5) -> Xylan (major) + (Mannan+Galactan) (minor) + Arabinan
16
GlucanBio’s
Triversa ProcessTM Hat Trick
Proprietary Technology
Diverse
High
Yielding
Pure
Revenue
Hat Trick
>95% C5
> 90% C6
$
> 95% L
High
Biomass
Loading
Simultaneous
Deconstruction
and Refinement
Product Purity
Furfural >98%
Cellulose >96%
Lignin >98%
No Enzymes or Microbes
Three Product
Co-Production
=
Cost Disruption
GlucanBio Techno-Economics
•
•
•
•
•
50,000+ (dry) mt/yr size-scale
• Reasonable biomass logistics
• Complements oil palm mill by-product production
Partnering Model
• GlucanBio provides technology
• Biomass owner provides capital
• Biomass owner and GlucanBio partner to make money
Modest Capital
• ~USD 45M
Products and Expandable Platform
• Furfural, glucose, lignin for fuel
• Future glucose and lignin upgrades to specialty products
Attractive IIR
• ~+20% with lignin as fuel
• 30%+ with lignin as product
18
Team of Experienced Problem Solvers
Advisory Board
Larry Clarke
CEO
James Dumesic,
Ph.D Founder,
•
•
•
David Alonso, Ph.D
Director R&D
Jeff Fornero, Ph.D
VP Engineering
Brent Shanks, Ph.D
Founder, Director,
CBiRC,
Sikander Hakim, Ph.D
Engineer R&D
Vicki Gonzalez
Managing Partner
Nidus Partners
Terry Sutter
Aurora Capital
Duke Leahey, Ph.D
IP & Licensing
Victoria Holt
CEO, Proto Labs
170 years of commercialization experience
630 scientific publications with 29,000 citations
Early stage engineering scale-up and IP management experience
Peter Keeling
Founder
A NIDUS PORTFOLIO COMPANY
Winner - Sofinnova Partners Renewable Chemistry Start-up Award
For more information:
Larry Clarke
[email protected]
314-258-0192
Private
Investment