Momentum: 12 Biobased ventures raise $435M in Q2 2013; 32 projects being built off the balance sheet

32 Projects, Building off the Balance Sheet

Abengoa
Building a 23 million gallon cellulosic ethanol plant in Hugoton, Kansas – off its own balance sheet – opening in 2013. The company is reported to be looking at developing a second commercial plant for mid-decade.

The GranBio first commercial plant in Alagoas, Brazil

Bao Steel
Investing, with LanzaTech, in deploying gas fermentation technology, in China, utilizing steel mill off-gases. Bao financed a 100,000 gallon demonstration and the next stage is the construction of a 40 milion gallon project. Indian Oil Corp., LCY Chemical Corp, Posco, Mitsui & Co., Petronas, Shougang Group and Harsco Corp are among those who have also begun discussions or development projects with LanzaTech.

BASF
In May, BASF announced that it plans to begin production of 1,4-butanediol based on renewable feedstock (renewable BDO) using Genomatica’s patented process, based on renewable feedstock. The one-step fermentation process is based on sugars as a renewable feedstock. “The BDO plant is subject to market performance,” noted BASF spokesman Klaus-Peter Rieser. ” BASF will in due course announce its decision on the location, capital expenditure and start of construction for the plant. Currently we anticipate a plant capacity of 50,000 tons per year.”

Beta Renewables
Building and financing, off its balance sheet, a 20 million gallon first commercial cellulosic ethanol project in Crescentino, Italy – and is aiming to build another on its own dime in North Carolina.

BP
There are now more than 4,000 employees in BP Biofuels – the unit has grown immensely with the acquisition of Tropical Bioenergia in Brazil. The company has recently opened, off its balance sheet, a first commercial (111 million gallon) wheat ethanol plant in the UK,

British Airways
The company is moving forward on the construction, contributing equity from its balance sheet, of a first commercial project producing aviation biofuels from municipal solid waste, located east of London. The plant is expected to open by 2014.

Bunge
The company has formed a JV with Solazyme to build a commercial scale renewable oils production facility in Moema, Brazil – 26 million gallons in capacity, expected to open in 2013.

Cargill/NatureWorks
Cargill is financing, through its NatureWorks subsidiary, in a venture with PTT Chemical, the construction of a second Ingeo biopolymer facility, in Thailand. The 18 million gallon facility is expected to open in 2015.

Chesapeake Energy
Chesapeake is financing, off its balance sheet, a 50 million gallon facility expected to open in 2014, using Sundrop Fuels technology including methanol synthesis and the Mobil MTG process to produce renewable gasoline.

COFCO
COFO is financing, off its own balance sheet, the construction of a 26 million gallon cellulosic ethanol facility in Singapore – first phase of 13 million gallons is expected to open in 2013.

Darling
In a JV with Valero, financed off its balance sheet, a 135 million gallons renewable diesel project, Diamond Green Diesel, which just completed construction and is going through its commissioning period.

DONG Energy
Financing, off its balance sheet, a first commercial Inbicon cellulosic ethanol in Maabjerg, Denmark, expected to open in 2014 with an 18 million gallons capacity. DONG (Danish Oil and Natural Gas), which is the parent of Inbicon, previously financed a demonstration-scale plant off its balance sheet.

Dupont
Financing, off its balance sheet, a first commercial Dupont Cellulosic Ethanol plant in Nevada, Iowa – capacity of 27.5 million gallons.

FHR
Just bought a 155 million gallon corn ethanol plant this week in Nebraska from Advanced Bioenergy. Has invested in advanced jatropha via SG Biofuels, advanced biodiesel via Benefuel, and cellulosic ethanol via EdeniQ. In May, Benefuel completed agreements with FHR Renewables to develop biodiesel refineries in the United States using Benefuel’s patented ENSEL refining technology, which can improve profitability while also reducing resource consumption and waste. Benefuel and FHR have an exclusive agreement to develop and operate US-based biodiesel projects. The joint venture, named Duonix, LLC, is actively developing the first project, which is a retrofit of the 50-million-gallon-per-year facility in Beatrice, Nebraska, which was acquired by FHR out of bankruptcy and has since been transferred to Duonix. The Beatrice plant will continue to be operated by FHR.

Gran Bio
Financing, off its balance sheet, construction of a 21 million gallon cellulosic ethanol plant in Alagoas, Brazil. Expected to open in 2013 – technology from Beta Renewables and American Process. In April, GranBio completed the acquisition of a 25% equity stake in American Process. Under the agreement, GranBio said it will have gained access to a proprietary biomass pretreatment platform that makes it possible to cost-effectively develop cellulosic sugars as a feedstock to a range of biochemicals and biofuels.

INEOS
Financing, off its balance sheet, a first commercial (8 million gallon) cellulosic ethanol plant in Vero Beach, FL – for which construction is complete and commissioning is underway.

Mitsubishi Chemical
Financing off its balance sheet, through its MCC Biochem JV with PTT Chemical, a 13 million gallon succinic acid plant in Thailand – project expected to come online in 2014.

Neste Oil
Financed, off its balance sheet, the construction 572 million gallons of renewable diesel capacity in Finland, the Netherlands and Singapore. ALl projects complete, commissioned and producing.

Novozymes
Made a $115M investment in Beta Renewables – see above.

POET-DSM
Jointly financed a $250 million JV, POET-DSM, to complete a 25 million gallon first commercial cellulosic ethanol plant in Emmetsburg, Iowa – opening in early 2014. The JV expects to deploy numerous additional plants.

PTT Chemical
Financing off its balance sheet, through its MCC Biochem JV with Mitsubishi Chemical, a 13 million gallon succinic acid plant in Thailand – project expected to come online in 2014. PTT is financing, through its in a venture with NatureWorks, the construction of a second Ingeo biopolymer facility, in Thailand. The 18 million gallon facility is expected to open in 2015.

Raizen (Royal Dutch Shell-Cosan)
Financing, off its balance sheet, a first commercial cellulosic ethanol plant in Brazil, in partnership with Iogen.

Total
Invested more than $175 million in Amyris, and has also invested in Gevo and Coskata.

Tyson
Financed, off its balance sheet, through a JV with Syntroleum, the 75 million Dynamic Fuels renewable diesel plant in Geismar, Louisiana – which is commissioned and operating.

Valero
In addition to operating numerous corn ethanol plants, Valero has invested in Algenol, Enerkem and Mascoma, and is proving major financing for Mascoma’s first commercial cellulosic ethanol plant in Michigan, scheduled to open in 2013-14.

Waste Management
Invested in Enerkem, Fulcrum Bioenergy and Renmatix – and is proving financing, off its balance sheet, for Fulcrum Bioenergy’s first commercial cellulosic ethanol project near Reno, Nevada.

Wilmar
Financing off its balance sheet, in a JV with Elevance, a 52 million gallon first commercial integrated biorefinery in Gresik, Indonesia, scheduled to open in 2012-13.

Zhejiang Hisun Biomaterials
Financing off its balance sheet a 16 million gallon first commercial project to produce polylactic acid (PLA) from cassava, in Zhejiang province in China, scheduled to open in 2013.

Smaller balance sheets financing projects

BioAmber
devoting proceeds from its recent IPO towards its first commercial plant, BioAmber has been running at its demo plant for three years now in Pomacle, France at the 350,000 liter scale.

Gevo
Financed, off its balance sheet, the acquisition of the Luverne Ethanol plant in Luverne, Minnesota and conversion to isobutanol production.

Heliae
Financing its first commercial facilty off the balance sheet, in Gilbert AZ – targeted for cosmetics and nutraceuticals, this first commercial is in the 1-2 tonnes per month production range, but is expected to be cash flow positive, is expected to be expanded. The company is looking towards JVs to expend future production.

KiOR
Financing, off its balance sheet, its first commercial (13 million gallon) biocrude project, in Columbus, Mississippi. Construction is complete and the plant is now in commissioning.

Solazyme
See the JVs with Bunge. Financed, off its balance sheet, a demonstration of its technology, now commissioned and operating in Peoria, Illinois.