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Verenium’s process: getting to cellulosic ethanol

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Verenium’s 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

Vercipia/Highlands Ethanol: Project Overview

• Verenium / BP Partnership’s 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

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

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