1. © 2014 LanzaTech Inc. All rights reserved.
The Road to Awesome!
Jennifer Holmgren CEO, LanzaTech
© 2014 LanzaTech Inc. All rights reserved.

2. Our Superheroes! 2

3. 3

4. Boeing 787 - a carbon-fiber plane burning carbon-based fuel
Carbon is Pervasive
Heavy Industry
Steel
Steelmaking, ferroalloy production, and other industrial processes use carbon as a reagent
Transportation Fuels
High energy density fuels allow for cars, boats, and planes
Liquid Fuels
Chemical Products
Carbon forms the backbone of all organic chemical and material products
All food contains carbon
Nutrition
DNA: The green is carbon.
Our biochemistry is entirely dependent on carbon, as is all of the food that we eat
1,3-butadiene
(precursor for rubber)
Boeing a carbon-fiber plane burning carbon-based fuel
Polyethylene Terephthalate
(PET plastic) 4

5. But Problematic when Combusted
Greenhouse Gas Emissions (CO2, CH4)
Combustion of carbon-containing energy sources inherently produces CO2.
Incomplete combustion and gas venting result in additional CO2 and CH4 emissions.
These greenhouse gases have been identified as the primary cause of climate change.
Greenhouse gas emissions are a global problem with global consequences.
Particulate Emissions (PM10, PM2.5)
Carbon combustion also releases particulates into the atmosphere.
Accumulation of particulates in our air has severe consequences for human health.
Particulates pose a local threat, and are the chief culprit of air pollution that we can see, smell, and taste.
They are also a global problem! Studies have verified the presence of particulates in the US that originated from fossil fuel combustion in China.1
NOx, SOx, and Hg Emissions
Nitrous oxides, sulfur oxides, and mercury emissions are also a direct result of fossil fuel combustion.
These emissions have a significant negative impact on human health, with a particularly strong link to respiratory illnesses.
They are also detrimental to the local environment, as NOx and SOx are the primary cause of acid rain. 1. 5

6. Example: PM2.5 Readings Daily Average Pollution
The World Health Organization (WHO) guidelines consider anything over 10 micrograms per cubic meter of PM2.5 to be hazardous to health
10 Worst Chinese Cities
10 Worst U.S Cities
Xingtai
Shijiazhuang
Baoding
Handan
Hengshui
Tangshan
Jinan
Langfang
Xi’an
Zhengzhou
155.2
Bakersfield, CA
Merced, CA
Fresno, CA
Hanford, CA
Los Angeles, CA
Modesto, CA Visalia, CA.
Pittsburgh, PA
El Centro, CA
Cincinnati, OH
Washington, DC
18.2
148.5
18.2
127.9 17
127.8
16.2
120.6
16.2
114.2
15.3
114.0
15.2
113.8 15
104.2 14
102.4
13.8
WHO guideline 10
10.6
Sources: Chinese Ministry of Environmental Protection, American Lung Association and WHO. Simon Denver and Richard Johnson/The Washington Post. Published on February 2, 2014, 5:46 p.m. 6

7. Utilize Only as Much Carbon as we Must!
The Carbon Imperative
Energy can be Carbon free
Liquid Fuels & Petrochemicals must contain C
Efficiency: Recycle C
Wind:
Solar:
Hydro:
Utilize Only as Much Carbon as we Must! 7

8. C The LanzaTech Process
Gas Feed Stream
Gas Reception
Compression
Fermentation
Recovery
Product Tank
Novel gas fermentation technology captures CO-rich gases and converts the carbon to fuels and chemicals
Proprietary
Microbe
Process recycles waste carbon into fuels and chemicals
Gases are sole source of carbon and energy for the organism
Potential to make material impact on the future energy pool (>100s of billions of gallons per year)
Innovative: gases are sole source of energy
Proprietary: 60 patents, including two proprietary microbe patents
Integrative: Direct production of fuels and chemicals (2,3 Butanediol, Isoprene, Propanol, Butanol, MEK); multi step production of chemicals and chemical intermediates (olefins)
Thermo Chemical Opportunities: 2,3 Butanediol produced through the LanzaTech Process can be used to make true “Drop in” hydrocarbon fuels (gasoline, diesel, jet fuel).
The LanzaTech (LT) process converts waste gas from steel mills to ethanol. These steel mill gases are often flared and emitted as CO2. By producing fuel from these waste gases, the LT process addresses critical sustainability issues related to land use and competition with food: it requires no land other than existing industrial facilities to co-locate plants and its carbon resource is entirely independent of the food chain. C

9. Get as Much Value as we Can from Every Carbon Molecule
Sources of Carbon
Traditional (Virgin)
Recycled or Underutilized
Get as Much Value as we Can from Every Carbon Molecule 9

10. Enabling Industrial Carbon Efficiency
LanzaTech complements industries that require carbon, by reusing their residual carbon.
The process turns waste from carbon based processes into additional fuel and chemical products that require carbon.
This reduces global fossil carbon requirements by making more efficient use of carbon. It also means a net reduction in local air pollution associated with combustion of carbon-based residues.
The Steel Industry is one example: 10

11. Carbon Efficiency Means Cleaner Air
By making more efficient use of the carbon required by industry, we burn less carbon overall reducing global GHG.
On a local level, burning less carbon means lower PM, NOx, and SOx emissions.
Air Pollutant Comparison between LanzaTech Ethanol and Electricity Production from BOF Gas
0.12
Flaring
Power Generation
LanzaTech Fermentation
0.1
g/MJ Gas
0.08
0.06
0.04
0.02
Particulate Matter
NOx
SOx
LanzaTech ethanol has lifecycle carbon emissions that are 70% less than that of fossil gasoline. The process also reduces local PM, NOx, and SOx emissions by more than 85%. 11

12. Many Sources of Carbon on Path to Commercialization
Asia
Asia
Tang Ming Group
2014
2015
2013
2008
2012
Two Demonstration facilities in China 100,000 gallon/year ethanol capacity
Exceeded all production and performance milestones
Commercial facility approved for construction 2014
Demonstration facility in Taiwan 12,000 gallon/year ethanol capacity with LCY and China Steel
China commercial facility in design; financing secured
Industrial Off Gases
MSW Mobile Lab in Asia demonstrated operation with a syngas stream
MSW Demonstration facility in Asia 6,000 gallon/year ethanol capacity Q4 2014
Integrated syngas to Butadiene Demonstration facility Q in Korea with SKI
SynGas

13. Waste Carbon as a Resource for Product Synthesis
Industrial Waste Gas
Steel, PVC, Ferroalloys
CH4
Associated Gas,
Biogas
Solid Waste
Industrial, MSW, DSW
Biomass
Inorganic CO2
Reforming
Gasification H2
Renewable
Electricity CO
CO + H2
CO + H2 + CO2
CO2 + H2
CO2 + H2O + e-
Gas Fermentation
Fuels
Chemicals
Food

14. Commercialization of Aviation Fuel
Production of jet fuel from LanzaTech ethanol demonstrated in 2012
Off-take agreement executed with Virgin Atlantic
ASTM certification: Key next step
You can only get there through teamwork!
LanzaTech cooperates with many different partners, also in the aviation industry.
Imperial College of London

15. Butadiene: Key Chemical Intermediate
Styrene Butadiene Rubber (SBR)
Global Market Size: ~4.9 million tons, ~$13 billion
Polybutadiene Rubber (BR)
2,3-BDO
Butadiene
Global Market Size: ~3 million tons, ~$8 billion
Global Market Size: ~11 million tons, ~$22 billion
Syngas
Acrylonitrile Butadiene Styrene
(ABS) Resins
Industrial Waste Biomass NG
Coal MSW/DSW
Global Market Size: ~8 million tons, ~$16 billion
Ethanol
Advanced Biofuel
Nylon 6,6
(from Adiponitrile/HDMA)
Global Market Size: ~1.8 million tons, ~$6.9 billion

16. 1 organism, >20 products…so far!
Discovery
Lab
Cont.
Culture
Pilot/
Demo
FAEE/FABE
CO/H2
Fatty Acids,
Terpenoids
3-HP
Farnesene
Isoprene
Pyruvate
sec-Butanol
MEK
Acetyl-CoA
Succinate
Lactate
1,2-PDO
Acetoin
n-Propanol
Propanal
meso-2,3-butanediol
i-Propanol
Acetone
D-(-)-2,3-Butanediol
1,3-BDO
3-HB
Butyrate
n-Butanol
Acetone
i-Propanol
Ethanol

17. Waste Carbon as a Resource for Product Synthesis
Industrial Waste Gas
Steel, PVC, Ferroalloys
CH4
Associated Gas,
Biogas
Solid Waste
Industrial, MSW, DSW
Biomass
Inorganic CO2
Reforming
Gasification H2
Renewable
Electricity CO
CO + H2
CO + H2 + CO2
CO2 + H2
CO2 + H2O + e-
Gas Fermentation
Fuels
Chemicals
Food

18. Conversion of Acetate to LipidsH2
Acetate
Carbon
Source
Energy
Carbon
Source
Yeast
Yeast accumulate lipids to >70% of their cell mass
Energy
Source
Algae
2nd fermentation
Patent filed, optimization underway
Algae accumulate lipids to >50% of their cell mass
40% of algal lipids content are Omega-3 fatty acids (Specifically DHA)
Lipids Product Markets
Hydrocarbon Transport Fuels
>US $ 3 trillion/year
Oleochemicals
US $15 billion/yr
Animal Feeds
US $370 billion/yr
Food, Nutritional Supplements
US $25 billion/yr

19. 19

20. Building a Sustainable Company
Leveraging Gas Fermentation Technology
Diverse AND Flexible Feedstocks AND End Products
Carbon Capture and Reuse can Change the View of Carbon
Capital-light Licensing Business Model
Partnerships that Drive Customer Value and Future Success
Extremely Competitive Production Economics Without Incentives
Extensive Synthetic Biology Platform to Enable Future Growth
Combining Disruptive Technology with Business Model Innovation
2020

21. A New Normal Woman on Catwalk in a Fashion Show, Shanghai
As Shown in Taiwan Paper 12/7/13

22. Cuyahoga River: 1969 Resulted in: Clean Water Act, 1972
Great Lakes Water Quality Agreement
Creation of the federal and state Environmental Protection Agencies

23. We all Need to be Superheros!