Production of jet fuel from ethanol

And its perspectives

Professor Angelica Hull for EU-India Conference on Advanced Bio Fuels

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Designation Characteristic Standard

SB Gasoline Ron 95 / Mon 92 EN 228

SB Diesel High cetane indexZero sulphur

EN 590

SB Jet fuel Jet A-1 ASTM D7566

Swedish Biofuels patented process

produces Jet A-1 from ethanol

Ethanol

Jet A-1

SB Jet A-1

Airline range

Biobased Content100%

Fossil Content 0%

Data on Swedish Biofuels fuel producedby Wright-Patterson USAF

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Swedish Biofuels AB Proprietary Information cannot be changed or modified

Swedish Biofuels jet fuel delivered to US AFRL under DARPA (Defense Advanced Research Projects Agency program – typicalvalues)

Swedish Biofuels AB Proprietary Information cannot be changed or modified

SB gasoline characteristics

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Project opportunities

CustomizedCatalysts

ControlledChemicalSynthesis

Woodresidue

CO2 +Lignin

SyngasSyngas

Jet fuel Diesel Gasoline

3

1

2

3

1

2

Dedicated plant with ethanol as the feedstock.

Integration with existing ethanol plant with option of using ethanol, CO2 and lignin as feedstocks.

Integration with existing ethanol plant with option of using ethanol and wood residues as feedstocks.

Flexible regarding the grade of ethanol

Fuel composition adjustable to any standard

Targeted production of chemicals possible

EPC turnkey delivery

Performance warranty

Ethanol

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Swedish Biofuels AB Proprietary Information cannot be changed or modified

EU funded project BFSJ 612763

• Project objective:

• Construct, commission and operate a demonstration facility for the production of Biojet fuelderived from sustainable feedstocks

• The ultimate end goal is to establish a full-scale commercial production facility with anannual Biojet production of roughly 200,000 metric tons (scale-up factor 20)

• Feedstock: The Alcohol to jet process can use ether ethanol or syngas or any mix thereof

End-products: Besides biojet, renewable diesel and gasoline are also produced.

• Funding: The project is enabled by the EU “7th Framework Programme for Research andTechnological Development”.

• Demo unit scale: The demonstration facility will have an annual output of roughly 10,000 tons of renewable fuels

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Supply chain and project partners

Coordinator

Conversion toethanol/syngase

Alcohol to jet

Green flightFeedstock Bio Ethanol and/or syngas

Biojet fuelRenewable diesel

& gasoline

Support partners

par

tner

sS

up

ply

ch

ain

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Project Implementation

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Pilot plant at Royal Institute of Technology Stockholm

Operating:Since 2009Quality: Commercial fuel specification

Swedish Biofuels AB Proprietary Information cannot be changed or modified

12,000 litres of jet fuel have been produced and delivered for testing from the pilot plant

The fuel was produced to comply with the specification of standard MIL-STD-290 for JP-8 fossil kerosene.

The data testing was performed at Wright-Patterson Air Force Base research laboratories (AFRL), GE Aviation, Pratt & Whitney AeroPower, and others

Tests have demonstrated that the jet fuel meets the standard jet fuel specifications

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Financial parameters Plant 1 Plant 2

Total investment, € million 49 399

Feedstock:

Ethanol, t/y 31,000 150,000

Biogas, t/y 5,250

Wood, t/y 750,000

Annual production capacity, t/y: Gasoline, JetFuel, Diesel

20,500 200,000

Total equity, € 20.4% 25.0%

Debt, % 79.6% 75.0%

Debt interest rate, % 6.0% 5.0%

Total debt, € million 39 299

Equity IRR, % 31.5% 20.2%

EBITA, € million 6.7 44.7

EBITA margin 15% 15%

Total Cost of Goods Sold, € million (COGS)

-36.8 -246

Total revenue, € million 43.6 291

Depreciation and amortization, € million (12 years)

-4.1 -30

Tax rate, % 26% 26%

• Business cases developed within EU funded project

• Calculation assumes plant built in Sweden

Thank you!

Angelica HullManaging DirectorSwedish Biofuels ABangelica.hull@swedishbiofuels.se