Verenium

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Vereniums process getting to cellulosic ethanol
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Vereniums Commercial Development Plans

• Near-term focus on US Gulf Coast
• Plan to position six projects for financial
  close, 2010-2012
• Ultimately national / global play
• Commercial sites in development
• Grass/energy cane/bagasse
• Local agricultural partners
• Good logistical interfaces
• Some co-located
• Three (100 acre) energy crop plantations
• Energy cane and sorghum
• Expand to 17k acres in 2 years
• Validation platform for growers

Commercial sites
Energy crop sites
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Vercipia/Highlands Ethanol Project Overview

• Verenium / BP Partnerships First
  Commercial-Scale, Next-Generation Cellulosic
  Ethanol Production Facility
• Located in Brighton, Highlands County
• 36MGY Capacity to meet needs of S. Florida fuels
  market (facing 10 blend mandate)
• Growing Services w/ Lykes Bros. on 20,000
  farmable acres of Lykes 335,000 acre ranch
• 350M capital investment, generating 140
  permanent jobs (production/agriculture) and over
  400 temporary construction jobs

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Feedstock plan purpose-grown canes grasses

• Sufficient biomass available in the U.S. to
  meet RFS demand
• Energy cane is among the highest yielding
  agricultural feedstocks

Feedstock Technology Ethanol Yield Gallons / Acre Feedstock Yield Dry Tons / Acre / Year
Energy Cane - FL Cellulosic 1,830 20 dry tons
Switch Grass U.S. Cellulosic 732 8.0 dry tons
Sugar Brazil Sugar Fermentation 653 4.82 tons (sucrose)
Sugar U.S. Sugar Fermentation 493 3.64 tons (sucrose)
Corn U.S. Grain Dry Mill 402 4.2 wet tons
Softwood Cellulosic 400 5.0 dry tons
Corn Stover Cellulosic 240 3.0 dry tons
Wheat Straw Cellulosic 168 2.1 dry tons