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Update
Jonathan Madgwick - Chairman2
• Government liaison/funding (Federal and State)
• Second generation ethanol production project
• Environmentally sensitive, resource and energy efficient
• Cost efficient
• Enables production from a wide range of feedstock’s- sugar and timber industry wastes are major examples- will not divert crops from food supply (note the American experience with maize)
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Ethtec Ltd($5.3m cap)
BoardJonathan Madgwick (Chair) – Director, WFLRussell Reeves – APACE Research LtdRobert Carey – Public Practice AccountantMarcus Derham – CEO, WFLJohn Rutledge – Senior Executive, WFL
TimberIndustry
SugarIndustry
Willmott ForestsLimited
(ASX Code: WFL)
Cane Farmers
51% 49%
Expenditure to date….
$3.5m development$5.3m capital injection
Ethtec Corporate Structure
Jonathan Madgwick - Chairman
Stakeholders
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Licence Agreements(USM/TVA/Apace)
4
Federal Gov’t Support
Shareholders
State Gov’t Support
Ethtec
Pilot Plant
Management & Technical Teams
Board
Consultants
Jonathan Madgwick - Chairman
Project Plan
6Jonathan Madgwick - Chairman
• Project will occur in 4 phases (1 & 4 may be in parallel)
• Viability of the technology will be tested in a pilot plant
• Construction to commence in late 2007
• Potentially permits licensing opportunities domestically and overseas of Australian (NSW) generated intellectual property
4-Phase Process/Project
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Acid Hydrolysis Acid Recovery
Ethanol Recovery Fermentation
7Jonathan Madgwick - Chairman
Timing
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Outcomes Timing
1 • Acid impregnation • Hydrolysis of lignocellulosics
Late 2008
2A
• Lignin filtration • Acid and sugar separation
Mid 2009
2B
• Sulfuric acid recovery Late 2009
3 • Fermentation Early 2010
4 • Simultaneous ethanol recovery and liquid effluent treatment
• Late 2008 (with capital support), or
• Early 2010
Jonathan Madgwick - Chairman
Risks
9Jonathan Madgwick - Chairman
• Profit
• Failure of Phase One
• Competition
• Liquidity
• Key Personnel and Management
• Operational Issues
• General
• Technical Director - Dr Russell Reeves: Research scientist involved for the last thirty years in Australian and foreign government funded research projects on the development of new technologies for the production and use of ethanol as fuel
• Chief Engineer - Mr Ernest Lom: Mechanical research engineer with over fifty years experience, the last twenty five years relating to alternative fuels projects conducted in association with Dr Reeves
• Senior Project Engineer - Mr Daniel Negus: Mechanical research engineer with over ten years experience, including a three year project on use of ethanol fuel in vehicles conducted in association with Dr Reeves
• Analytical Chemist - Dr Tony Banks: Doctorate in organic chemistry from University of New England
• Consulting Engineers Mr Robert Tubman - process plant design, process optimisation and project management specialist
with over thirty years local and international experience
Mr Dennis Forte - extrusion processing, process modelling and process optimisation specialist with over twenty years experience
• Manager General Operations - Mr Lance Rodman: Cane farmer from Babinda with over twenty years practical engineering experience
Technical Team
Dr Russell Reeves – Managing Director10
Technical Update
11Dr Russell Reeves – Managing Director
Pilot plant site – Harwood, northern NSW
• Harwood Sugar Mill selected as site for pilot plant
Technical Update
13Dr Russell Reeves – Managing Director
• Installation of required services to pilot plant site underway
Technical Update
14Dr Russell Reeves – Managing Director
• Chemical analysis of representative feedstock's underway (with cooperation from NSW DPI)
• Installation of feedstock pre-treatment equipment and intermediate scale extruder underway
• Intermediate scale extruder will be used to confirm specification of pilot plant extruder
• Confidentiality agreements with two international extruder manufacturers
• Tests will be conducted with extruder manufacturer(s) to also confirm specification of pilot plant extruder
Technical Update
15Dr Russell Reeves – Managing Director
Clextral BC 72 HCo-rotating Twin Screw Extruder
• ASX Listed (Code: WFL)
• Sound growth over 25 years
• Australia’s largest developer of new softwood plantations
• 35,000 ha established since 1980- Bombala / Braidwood (WFL, Export Markets)- Murray Valley (Visy, Hyne & Son, Weyerhaeuser)- HVP 2R sites (CHH, Paperlinx, Hyne & Sons)
• Timber processing operations
• Long-term supply agreements
• State of the art management systems
• Actively engaged in regional communities
• Entered renewable fuel/energy market
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Willmott Forests – Overview
Marcus Derham – Director
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Quality Focus
• Independent Research
• Corporate Governance and Compliance
• AFG Disclosure Code
• ISO 9001 – Quality Endorsed Company
• Highly rated Woodlot project
• Premium timber products
Marcus Derham – Director
WFL takes strategic stake in Ethanol Technologies
COMPANY ANNOUNCEMENT16 March 2007
• Commercialising new technology for the production of ‘cellulosic ethanol’…
- technology is expected to have world-wide application
- enormous potential for the timber industry- solves the emerging ‘fuel vs food’ dilemma
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Announcement
Marcus Derham – Director
Marcus Derham, Willmott Forests CEO, said…
“… whilst it is not without its risks, they are risks that we
understand. When it is all said and done, this is an exciting
project that has the potential to change the structure and pricing
of pulp, chip and mill residue markets across the whole forest
industry, and we are pleased to be involved.”
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Announcement
Marcus Derham – Director