Advanced Syngas Production for Fuels, Chemicals and Power March 11-14, 2019

Who We Are

Commercializing the Integrated Biorefinery Platform

Formed in 1996, HQ in Baltimore, MD

USA

Proprietary technology developed with

over $100 million of R&D investment

to date

Technology demonstrated at

commercial scale

Advanced commercial scale

biorefineries in construction and

development world-wide

Advanced Development Center in

Durham, NC, USA

TRI is committed to implementing Clean Technology for a Sustainable Environment

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What We Do Integrate TRI’s proprietary technologies, equipment and services, enabling the conversion of biomass and

waste to renewable fuels, chemicals and power

Biomass to Green Fuels and Chemicals

Prep &

Dry TRI

Reformer

GTL

Syngas

Clean-up Drop-in fuels

Tail Gas for Endothermic heat

Green Power

Agriculture

MSW/RDF

Clean Syngas

Our Technology – Flexible Feedstocks

Processes a wide range of waste and

biomass feedstocks for improved

economics

Suitable for greenfield or can be

integrated with host to

maximize thermal

efficiency and capitalize

on existing infrastructure

End product can be augmented at

a later date to respond to changing

market conditions with modest

capital investment, e.g. adding a

catalytic or fermentation fuels module to

the existing plant.

Is sustainable for maximum economic life

Low emissions profile for enhanced environmental

performance

TRI’s steam reforming technology is the foundation

of the integrated Thermochemical Biorefinery and

Power Plant

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Forest Residuals

Agricultural Wastes

Sludge Lignite

MSW

RDF

Unique two stage gasification system that provides process flexibility for a wide range of feedstocks

High carbon conversion to maximize yields

Capable of customizing syngas H2:CO ratio ranging from 1:1 to 3.5:1

Contaminants are kept dry for easy removal

Deep fluidized bed first stage where feedstock undergoes drying, pyrolysis and steam reforming in a reducing environment to produce a high value syngas

Indirectly-heated steam reforming process operates at medium temperature and low pressure which is well suited for contaminant laden feedstocks

3 inputs and 3 outputs

In - Feedstock, steam and fuel for pulse heaters (typically tail gas from downstream syngas conversion processes)

Out - Syngas, clean flue gas for heat recovery and dry solids for contaminant removal

TRI’s Proprietary Steam Reforming Process

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How it works and why it is better

Commercially Proven Pulse Heater

TRI’s Proprietary Steam Reforming Process

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TRI’s pulse combustion heat exchanger technology provides high efficiency

heat transfer and enables cost effective fluid bed design

Internal Cyclones

Pulse Heaters

Steam Grid

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TRI Reformer Island

Norampac, Inc.

Trenton, Ontario

Owned by Cascades,

Canada’s largest

containerboard

manufacturer

Trenton is a zero effluent

mill producing 500 tpd

corrugating medium

Design Capacity:

115 TPD of Spent Liquor

Solids - Equivalent to

500 dry TPD solid biomass

Commercial scale demonstration of biomass reforming

Commercial Steam Reformer

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Steam Reformer lift Steam Reformer shipping from fab shop

Height 62 feet

Freeboard diameter 18 feet

Weight (empty) 110 tonnes

Operating weight ~300 tonnes

Commercial Scale Projects

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Capacity

10 million gallons per year FT Jet

Integrated Thermochemical biorefinery MSW Derived Feedstock to FT Fuels

Based on TRI steam reforming technology

In Construction – S/U 1/2020

Project qualified for RIN’s that require at least a 60% reduction in Green House Gases

500 dTPD MSW derived feedstock to FT Jet Integrated Biorefinery

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• Velocys signed an option for a 100-acre site in Natchez, Mississippi

• 40 refinery jobs averaging $100,000 yearly in pay and benefits

• 100-plus forestry jobs paying $40,000 on average. • $42MM County Tax Breaks • $15MM State Tax Breqks • Adams County will pay for levee upgrades and

donate land — a package worth $4 million — if Velocys obtains $300 million in financing

1,000 dTPD Woody Biomass feedstock to FT Diesel Integrated Biorefinery

Commercial Scale Projects

Confidential

Every process needed in a commercial biorefinery is replicated here

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TRI Process Demonstration Unit (PDU)

Feed System Steam Reformer

CTC Prim GCU

Sec GCU Fischer Tropsch

TRI PilotPlant

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Woody biomass Logging residuals, chips and saw dust

Ag Residuals Corn Stover, wheat straw

Swine waste, Poultry litter

Rice hulls, switch grass

Grape plant pruning's

Pistachio nut shells

Olive waste

Low Rank Coal Lignite, sub bituminous

Wastes Refuse Derived Fuel

Municipal and mill

sludge

Blends Wood/Coal

MSW/Coal

Spent Liquors Kraft

Sulfite

Soda

Straw

Distillery spent wash

Feedstocks tested to date

Woody Residuals

MFTL – diesel fraction

HFTL – wax fraction

MSW Derived Feedstock

Confidential 13

Drop-in Fuels for Strategic Domestic Markets

ThermoChem Recovery International - Technology Development Timeline

1996 TRI Established

2003

Black Liquor Commercial Demonstration

2009 Fully integrated Process Demonstration Unit constructed

2011 Successful Demonstration of Fully Integrated Woody Biomass to Fuels

2014 Successful Demonstration of Fully Integrated MSW to Fuels

2017

Fulcrum MSW to Jet Fuel Biorefinery Project – Reno, Nevada

TRI Advanced Development Center

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Feedstock Test Reformer (FTR) Feedstock screening tests to determine optimum operating

conditions including temperature and pressure, eutectics, etc.

Advanced Development Center (ADC) Continuous process improvement

2nd generation technology development

Cold flow modeling

Process concept testing

Process Demonstration Unit (PDU) Large scale integrated biorefinery pilot (4 dry tons/day)

Integration validation testing for complete systems

Feedstock and process validation is support of commercial scale designs

A complete range of testing and validation facilities to support development

CONFIDENTIAL