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Bio-Based Paraxylene for PET - Bergeson to Market/furlong...Bio-Based Paraxylene for PET ......

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  • Bio-Based Paraxylene for PET

    Bringing BioBased Paraxylene Through the PET Supply Chain with Key Partnerships

    Kieran Furlong, Director Chemicals Business Development

    4th Annual Infocast Biobased Chemicals Summit, January 29th 2013

    Virent 2012

  • Virent 2012 2

  • Virent 2012 3

    Wall Street Journal, May 15th 2012

  • Virent 2012 4

    Wall Street Journal, May 15th 2012

  • Virent at a Glance The global leader in catalytic biorefinery research, development, and commercialization

    Employees

    Technology Infrastructure

    120 Employees

    25x Development Pilot Plants 1x 10,000 gal/yr Demo Plant

    Partners & Investors

    Converting plant-based feedstocks to fuels and chemicals

    Virent 2012 5

  • Global Petrochemical Market

    Ethylene

    Assoc. gases / Naphta

    127 Mt/a

    Estimates of world demand , 2011 Sources: IHS Chemical, ICIS.

    Propylene Butadiene* Benzene Toluene Xylene

    Olefins Aromatics

    Crude Oil

    79 Mt/a

    11 Mt/a

    41 Mt/a 29

    Mt/a

    43 Mt/a

    Natural Gas Liquids

    Approximately 330M tonnes in 2011

    Market value ~ US$440B

    BTX Market value ~ US$130B

    Virent focusing on BTX

    Virent 2012 6

  • Global Petrochemical Market

    Benzene Toluene Xylene

    Aromatics

    Nylon Polyester Polyurethane Phenolics Polycarbonate Polystyrene

    Virent 2012 7

    Same polymers, same performance, same equipment

  • BTX Aromatic Product Tree

    BTX Complex

    Ortho-Xylene Meta-Xylene Para-Xylene Toluene Benzene

    Plasticizers Polyethylene

    Naphthalate (PEN)

    Purified Isophthalic Acid (PIA)

    Polyethylene Terephtlate (PET)

    Purified Terephtalic Acid (PTA)

    Polyehtylene Terephthatlae (PET)

    Toluene Diisocyanate (TDI) Polyurethate Foams TNT

    Polycarbonates Phenolic Resins Nylon 6 Polystyrenes

    8 Virent 2012

  • PX World Market

    2010 2020

    $39B

    30Mt 57Mt

    World

    market

    size (2010 USD)

    World

    consumption (million metric

    tons)

    $116B

    Sources: PCI; EIA.

    Virent 2012 9

  • Global PET Usage and Growth World PET (Film, Fiber and Resin) Production Polyester Polymer Usage by Type - 2011

    Data compiled from PCI. Data compiled from CMAI World Petrochemical Conference - 2011.

    6.5%/yr

    6.8%/yr

    5.8%/yr

    CAGR Growth

    Primary use of PX is conversion to PTA and then PET

    Global PET is projected to double from 2010 to 2020.

    Fiber is the main use of PET

    Majority of PET and PX production is in the Asia/Pacific region

    Virent 2012 10

  • Global Benzene Uses and Growth 2011

    Virent 2012 11

    Benzene

    41.5 M Metric Tons

    3.3%/yr

    Ethylbenzene

    51%

    3.2%/yr

    Polystyrene

    Cumene

    20%

    3.75%/yr

    Polycarbonates

    Phenolic Resins

    Cylcohexane

    10%

    2.1%/yr

    Nylon 6

    Nitrobenzene

    7%

    4.5%/yr

    Polyurethanes

    Alkyl Benzene

    3%

    2%/yr

    LAB/LAS

    Data adapted from IHS World Petrochemical Conference 2012 (Moorhouse).

    Growth Rates are from 2011 to 2016.

    Major Benzene derivatives

  • Benzene Global Supply and Market Considerations

    Shifting towards lighter feedstocks in crackers will produce less benzene

    Increased ethanol blending may reduce need for aromatic octane boosters in gasoline

    Decrease in US gasoline demand lowers need for reformate

    MSAT 2 decreases amount of benzene that can be present in gasoline

    Data adapted from IHS World Petrochemical Conference 2012 (Moorhouse).

    Sources of Benzene Production 2011 (IHS)

    0.00

    0.05

    0.10

    0.15

    0.20

    0.25

    Ethane Propane Butane LightNaphtha

    HeavyNaphtha

    Gasoil

    Lighter Feedstocks

    Pygas 39%

    Reformate 36%

    Coke Oven 5%

    PX Co-Product

    16%

    HDA, 4%

    Benzene (t) produced per unit of ethylene (t)

    Virent 2012 12

  • Why are customers interested?

    Virent 2012 13

    Diversifying supply & tackling volatility Consumer interest and demands

    New PTA capacity not matched by PX Supply as co-product diminishing

  • BioForming Technology

    Virent 2012 14

  • Virents BioForming Technology

    Fast and Robust

    Inorganic Catalysts

    Moderate Conditions

    Industry Proven Scalability

    Energy Efficient

    Exothermic

    Low Energy Separation

    Low Carbon Footprint

    Premium Drop-in Products

    Tunable Platform

    Infrastructure Compatible

    Fuels and Chemicals

    Feedstock Flexible

    Conventional Sugars

    Non-Food Sugars

    Leading catalytic route to renewable hydrocarbon fuels and chemicals.

    Virents Eagle Demonstration Plant- Madison, WI

    Virent 2012 15

    >50 issued/allowed patents

    >150 pending patent applications

  • The BioForming Concept

    Corn

    Slide 16

    Reformate

    Distillate

    APR/HDO

    Modified

    ZSM-5

    Condensation

    +

    Hydrotreating

    Aromatics

    Gasoline

    Jet Fuel

    Diesel

    Biomass

    Sugar Cane

    Corn

    Virent 2012 16

    Biobased feedstocks to direct replacement products

    APR prepares biomass derived feedstocks for optimal

    conversion into hydrocarbons

    Feedstocks to APR include any water soluble carbohydrate

    Option for natural gas co-processing (HDO) can improve

    yields and economics

    Demonstrated process yields are > 80% of theoretical

  • The BioForming Concept

    Corn

    Slide 17

    APR/HDO

    Modified

    ZSM-5

    Condensation

    +

    Hydrotreating

    Biomass

    Sugar Cane

    Corn

    Virent 2012 17

    Biobased feedstocks to direct replacement products

    Intermediates Alcohols Ketones

    Aldehydes Furans Polyols

    Potential products for use

    as solvents, monomers, etc

  • Partnership

    Slide 18

    Virent 2012 18

  • PET Supply Chain

    19

    Crude Oil

    Reformate

    BTX PX PTA

    PET resin Preform Bottle

    Cracked

    Naphtha

    Biomass Reformate BTX PX

    Virent

    PET fiber Textile Clothing

    BioFormPX

    Brand

    Supply chain innovation

    Opportunity to vertically integrate all the way back to raw feedstock.

    Reduce exposure to crude oil volatility, increase security of supply.

    Address sustainability requirements of the consumer and regulator.

    No impact to recycling infrastructure.

    Three integration points enable flexible entry to existing supply chain

    Virent 2012

    1 2 3

  • Coca-Cola & Virent Partnership

    2011 - Virent and The Coca-Cola Company sign agreements to

    develop and supply PX for 100% renewable, recyclable

    PlantBottle

    Multi-million dollar, multi-year agreements with Virent

    Joint Development Agreement

    Supply Agreement

    Supporting Virents plans for first chemicals plant

    Virent 2012 20

  • 100% Bio-based Paraxylene

    Virent's plant-based paraxylene

    Virent 2012 21

  • Summary

    Growing demand for bio-based aromatics due to

    Consumer demands and desire for differentiation

    Shifts in petrochemical supply dynamics and fears

    Tackling volatility with a portfolio approach

    Partnership value to start-ups include

    Economic de-risking of new projects

    Funding

    Leverage in existing supply chain

    Defining which criteria are important (e.g. sustainability)

    Co-location (with manufacturing partners)

    Technology and product validation

    Virent 2012 22

  • Virent converts plant-based sugars into 100% renewable chemicals and fuels. Our bio-

    based products are identical to those produced from petroleum direct replacements

    that utilize todays manufacturing, storage and supply chain infrastructure. If you are

    interested in strategic partnering opportunities please contact:

    Kieran Furlong, Director of Chemicals Business Development

    kieran_furlong@virent.com

    Thank you.

    Virent 2012

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