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2014 LanzaTech. All rights reserved. Dr. Christophe Mihalcea Industrial waste gases and the circular economy. Advanced Bioeconomy Feedstocks Conference New Orleans June 2015

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Use Carbon where Required

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Recycle to Reduce Pressure on Reserves Carbon Reduction through Re-use and Recycling Carbon C SteelAluminumGlassPlastic Ore Alum MineralsOil Carbon Reduction through Re-use and Recycling 3 A 2-degree carbon budget will require countries to leave 80 % of coal, 50 % of gas and 33 % of global oil untouched. Organization for Economic Growth and Development, Nature

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The LanzaTech Process is Driving Innovation Gas Feed Stream Gas Reception CompressionFermentation Recovery Product Tank Process recycles waste carbon into fuels and chemicals Process brings underutilized carbon into the fuel pool via industrial symbiosis 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 Proprietary Microbe

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Biogas LFG, Methane Biomass Solid Waste Industrial, MSW, DSW Waste carbon streams as a Resource CO 2 CO CO + H 2 CO + H 2 + CO 2 CO 2 + H 2 CO 2 + H 2 O + e - Gas Fermentation ReformingGasification Renewable Electricity Renewable H 2 Industrial Waste Gas Steel, PVC, Ferroalloys Available Most Point Sourced High Volume/Low Intrinsic Value Non-Food *2010 global production; 2012 proven gas reserves data (IEA, UNEP, IndexMundi, US DOE Billion Ton Update) ~ 1.4B MTA (Steel only) * ~184.2T M 3 * >1.3B MTA (US Alone) * >2B MTA *

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Steel Gases: 30Bn Gal Ethanol Capacity USA 925 BRAZIL 955 INDIA 1,315 CHINA 10,800 RUSSIA 1,830 W. EUROPE 4,870 JAPAN 3,750 Steel Mills (>5 MT/year) Country Potential Ethanol Production Capacity (MMGPY) Brazil Argentina Mexico United States Russia Kazakhistan Iceland Australia Thailand Indonesia China S. KOREA 1,270 E. EUROPE 1,300 TOTAL 27,015 MMGPY 6

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Proprietary Acetogenic Biocatalyst 7 Acetogenic bacterium with ability to utilize gases as sole energy and carbon source CO CO+H 2 or CO+CO 2 +H 2 CO 2 +H 2 LanzaTech has developed a proprietary strain of Clostridium autoethanogenum Obtained by extensive natural selection program, having improved characteristics over parent High gas uptake and ethanol production rates Fast growth on defined minimal media Non-sporulating and non-motile Sequencing revealed several variations to parent Rearrangement DeletionVariationInsertion 1

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Why does it matter? Gas Feed Stream Gas receptionCompressionFermentationRecovery Product tank The LanzaTech Process CO CO CO 2 5.2 barrels of gasoline are displaced by every tonne of ethanol produced 1 tonne ethanol produced as CO averted from flare Per tonne of LanzaTech Ethanol CO 2 MT kg PM kg NOx Averted from flare 2.10.64.1 Displaced gasoline +0.5+2.5+7.4 Energy required for LanzaTech Process -0.8-0.2-0.8 Avoided per tonne of ethanol 1.82.910.7

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9 Recycling Waste Gases Produces Low Carbon Fuels Conventional Gasoline LanzaTech Ethanol 120 100 80 60 40 20 0 gCO 2 e/MJ Life Cycle GHG Emission 90 33 Life Cycle Analyses (LCA) performed in cooperation with, Michigan Tech University,, Roundtable on Sustainable Biomaterials (RSB), E4Tech, and Tsinghua University 50-70% GHG Reduction over Petroleum Gasoline Reduce Air Pollutants >85% reduction in NOx and Particulate Matter compared to combustion at a typical US steel mill Reduce GHG Emissions

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Steel Mill Steel production Waste Gases Broader Environmental Impact LanzaTech Process emits 33% less CO 2 than electricity generation per MJ energy recovered NO x & Particulates LanzaTech Process emits ~40% less NO x and ~80% fewer particulates than electricity generation per MJ energy recovered Grid Electricity Generation Electricity LanzaTech Process Ethanol Gasoline Pool Carbon is Only Part of the Story

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The LanzaTech Process: Ready for Deployment Today Gas Feed Stream Gas Reception CompressionFermentation Recovery Product Tank Gas fermentation technology converts C-rich gases to fuels and chemicals Proprietary Microbe Multiple plants at various scales demonstrating different key aspects of process 40,000 combined hours on stream Multiple runs exceeding 2000 hours

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Pre commercial steel mill demonstrations Performance milestones exceeded First commercial in design; fully financed in China Shougang Bao Mitigating Scale up Risk through Successful Technology Demonstration WBT (CSC/LCY) Glenbrook Exceeded design capacity Local chemicals, water

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The LanzaTech Process Gas Feed Stream Gas Reception CompressionFermentation Recovery Product Tank Gas fermentation technology converts C- rich gases to fuels and chemicals Proprietary Microbe Performance milestones achieved and exceeded for >1000 hours

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1 Organism, over 20 Products Pyruvate CO/H 2 Acetyl-CoA Fatty Acids, Terpenoids Aromatics Ethanol Succinate Lactate 2,3-Butanediol (2,3-BDO) Biodiesel (FAEE) 3-Hydroxypropionate (3-HP) Isopropanol Acetone 1-Butanol 1,3-Butanediol (1,3-BDO) Partnerships Butylene 1,3-Butadiene Biopolymers Amino Acids Butyrate 3-Hydroxy Butyrate (3-HB) Methyl Ethyl Ketone (MEK) 2-Butanol Acetoin 1,2-Propanediol 1-Propanol Jet Fuel Isoprene Aromatics Discovery Lab Scale Process Scaled-Up Process 1 Organism, over 25 Products Acetate

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C 4 Chemicals from Gases: BDO/Butadiene OH H3CH3C CH 3 2,3-Butanediol Reductive Elimination Catalytic Dehydration 1,3-Butadiene Methyl Ethyl Ketone (MEK/Butanone) Butenes 1-Butylene (But-1-ene) 2-Butylene (But-2-ene) Isobutylene (2-Methylpropene) H H H H H H C C C C H H H C C CH 2 CH 3 1 2 3 4 H3CH3C H H C C 2 3 4 1 H C C 1 2 H 3 H 3 C-CH 2 -C CH 3 O New Route to C 4 s Without Current Supply Challenges 15 CO + H 2 Direct route: Developing a Butadiene producing organism Two Step Route: 1. Butanediol production 2. Catalytic conversion

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New pathways: CO2 as Carbon Source

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Lipid Product Markets 17 Hydrocarbon Transport Fuels >US $ 3 trillion/year Acetate to Lipids Algae/Yeast Biomass Long Chain Fatty Acids Omega 3 Fatty Acids Animal Feeds US $370 billion/yr Food, Nutritional Supplements US $25 billion/yr Medium/Long Chain Fatty Acids Oleochemicals US $15 billion/yr Omega 3 Fatty Acids

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18 Conversion of Acetic Acid to Lipids CO 2 H2H2 Acetate Carbon Source Energy Source 2 nd fermentation Acetate to Lipid conversion by yeast or algae Patent filed, optimization underway Direct feed, no purification Yeastalgae Lipid Profile of Yeast using Acetate Lipids are predominantly saturated C16 & C18 Work done in a collaboration with Prof Kent Zhao of the Dalian Institute of Chemical Physics. Strains identified that grow of LanzaTech broth using acetate as the sole source of carbon and energy. Yeast accumulate lipids to >70% of their cell mass. Work done in a collaboration with Advanced Bio- Energy Research Centre at Indian Oil Corporation - IOC. Strains identified that grow of LanzaTech broth using acetate as the sole source of carbon and energy. Algae accumulate lipids to >50% of their cell mass. 25% of lipids content are Omega-3 fatty acids (Specifically DHA). Lipid Profile of Algae using Acetate

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19 Acetic acid production from H 2 /CO 2 using A. woodii in LanzaTechs single fermenter system setup Step change in achievable acetate broth concentration (from 2.5 to 4wt%) Optimized media recipe Stable high level production Acetic acid production rates at 180g/L/d at a concentration of 30g/L were achieved in single fermenter system. Selectivity of acetic acid is ~95% as no other products apart from biomass is produced

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20 Acetate consumption rates: ~80g/L/d Lipid Composition: Constant across dilution rates Consistently ~22% of lipids = DHA omega-3 fatty acid Lipid composition of acetatefed algae

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Electrosynthesis the next step for LanzaTech CO 2 e-e- electrical energy LanzaTech converts CO 2 and electrons to products with no run-off, land use change, or environmental uncertainty issues associated with crops CO 2 Crops convert CO 2 and solar energy in to Biomass Biomass Wind Solar Sources of electrons: Bacteria that use gases such as CO 2 as their source of carbon derive the energy needed from electrons. LanzaTech bacteria can ferment CO 2 and H 2 LanzaTech have shown enhanced reactor performance with electron-assisted fermentation (Patent application: US61/295,145) Prof. Derek Lovley at U Mass (Amherst) is the leading researcher in this electrofuels field Prof. Lovley and LanzaTech are establishing a joint research effort (government funded) in this area This work is a natural extension of the microbial, synthetic bio, and engineering work being undertaken on the LanzaTech platform Natural feedstock extension of the LanzaTech Platform technology

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LanzaTech Global Partnerships