info… - Clean Fuels Development Coalition

November 15-18, 2010 | Almas Temple Club | Washington, DC
The 5th Annual Premier Cellulosic Biofuels Industry-Building Event
Three Exceptional Meetings Dedicated to Finance & Investment Opportunities,
Policy & Regulatory Solutions, Scaling Up to the Biorefineries of the Future
and Establishing the Feedstock Supply Chain
The Finance &
Investment Forum
November 15, 2010
The Forum merges the biofuels and financial
communities with key representatives from
a variety of government funding sources to
confirm the business models and financing
strategies essential to the first wave of
cellulosic biofuels plants
The Cellulosic Biofuels &
Biorefineries Summit
The Feedstock Supply
Chain Forum
The Summit convenes the major players from across the entire biofuels
value chain to state their current perspectives and strategize the critical
steps required to achieve the commercial-scale production of cellulosic
biofuels. This year’s Summit is dedicated to two core issues:
The Forum spotlights the feedstocks that
will fuel the first generation of projects - crop
residues, energy crops and woody biomass
- and confirms the supply chain logistics
needed to guarantee the industry’s evolution to
commercial-scale production
November 18, 2010
November 16 & 17, 2010
Day One – Policy, Regulatory & Financial Solutions
Day Two – Scaling Up & Transitioning to the Biorefineries of the Future
Featuring Special Presentations By:
Jonathan Silver,
Executive Director, Loan
Guarantee Program,
U.S. DEPARTMENT
OF ENERGY
Margo T. Oge,
Director of the
Office of Transportation
and Air Quality,
U.S. ENVIRONMENTAL
PROTECTION AGENCY
Jonathan Coppess,
Administrator –
Farm Service Agency,
U.S. DEPARTMENT
OF AGRICULTURE
Valerie Sarisky-Reed Ph.D.,
Acting Program Manager
and Conversion Team
Leader, Biomass Program,
U.S. DEPARTMENT
OF ENERGY
Hear from More than 50 Leaders in the Cellulosic Biofuels Community, Including.…
American Process, Inc.
Amyris Biotechnologies
Applied Chemical Technology, Inc.
Arborgen
Archer Daniels Midland
Ascendant Partners, Inc.
Biofuels Digest
Biotechnology Industry Organization (BIO)
Bluefire Ethanol
Chadbourne & Parke LLP
Clean Fuels Development Coalition
Clearfuels Technology
Comet Biorefining, Inc.
Coskata, Inc.
Credit Suisse Energy Group
Platinum Sponsor:
Silver Sponsor:
Enerkem
FC Stone, Inc.
Flambeau River Biorefinery, Inc.
Florida Department of Agriculture
G-Team
General Motors
Growth Energy
Hamilton Clark & Company
Harris Group, Inc.
ICM, Inc.
Idaho National Laboratory
Inbicon Biomass Refinery
INEOS Bio
Innovative Natural Resource Solutions LLC
Iogen Corporation
Reception Sponsor:
Mascoma Corporation
Mintz Levin
Monsanto Bioenergy
Myriant Technologies
National Council for Air & Stream
Improvement, Inc. (NCASI)
Old Town Fuel & Fiber
POET
Qteros
Range Fuels
Renewable Energy Group, Inc.
Renewable Fuels Association
Solazyme
Stern Brothers & Co.
Stoel Rives LLP
The Gavilon Group, LLC
The Office of Energy & Climate Change
Policy – The White House
University of Tennessee
U.S. Department of Agriculture
U.S. Department of Agriculture –
ARS - CPRC
U.S. Department of Agriculture – Rural
Development
U.S. Department of Energy
U.S. Environmental Protection Agency
U.S. Forest Service
Vermeer
Virent Energy Systems
Virginia Tech
Gold Sponsors:
Supporting Sponsors:
Internet Sponsor:
… and many more!
Luncheon Sponsor:
Exhibit Sponsor:
Supporting Organizations:
Produced by:
www.infocastinc.com/biofuels10
About the Summit
This November, at the 5th Annual Cellulosic Biofuels Summit, all the communities in the cellulosic biofuels value
chain—leaders from the feedstock, industrial biotech, biofuel technology, plant developers, finance, oil and transportation
communities—will return to Washington, D.C. to advance the development of the nation’s cellulosic biofuels industry.
This major industry-building event has established itself as the place where the industry convenes to strategize their goal
of achieving the commercial production of cellulosic biofuels.
The 2010 Summit is an essential one as the industry has reached a critical stage in its history. After enormous work and
great progress, the industry must achieve the transition to commercial scale production in order to successfully continue
and thrive.
This year, the Summit will be dedicated to taking biofuels to the next level by first focusing on the policy, regulatory,
and financial solutions that will enable industry scale up, and then by investigating the pathways and strategies for
transitioning to the biorefineries of the future.
Building a new cellulosic biofuels industry on such a vast scale will require continued progress along the value chain
and establishing productive partnerships will be an essential feature of industry success. The Summit has been a prime
networking venue and will continue to provide a rich opportunity for offline discussions, where everyone has the
advantage to network with all the groups in the value chain and establish beneficial relationships.
The Finance & Investment Forum—
Monday, November 15th, 2010
The Forum merges the biofuels and financial communities with key representatives from a variety of
government funding sources to confirm the business models and financing strategies essential to the first wave
of cellulosic biofuels plants.
Cellulosic Biofuels & Biorefineries Summit—
Tuesday, November 16th and Wednesday, November 17th, 2010
The Summit convenes the major players from across the entire biofuels value chain to state their current
perspectives and strategize the critical steps required to achieve the commercial-scale production of cellulosic
biofuels. This year’s Summit is dedicated to two core issues:
Day One – Policy, Regulatory & Financial Solutions
Day Two – Scaling Up & Transitioning to the Biorefineries of the Future
The Feedstock Supply Chain Forum
Thursday, November 18, 2010
The Forum spotlights the feedstocks that will fuel the first generation of projects - crop residues, energy crops
and woody biomass - and confirms the supply chain logistics needed to guarantee the industry’s evolution to
commercial-scale production
Some Organizations That Have Supported Previous Editions of the Cellulosic Biofuels Summit
25x25 Initiative
3M
AB Enzymes
Abengoa Bioenergy, Inc.
Absolute Energy, L.L.C.
Acta Spa
Aeroglide Corporation
AES
AFGC Headquarters
Ag and Food Associates, LLC
AGCO Corporation
AgFuture Energy LLC
AGRA Industries Inc
AgRefresh
Agriculture and Agri-Food Canada
Agrivida Inc.
AgStar Financial Services
Air Daily
Air Liquide
Alan Lorefice and Company
Alico, Inc.
Alliant Energy
Alltech. Inc.
AMEC
American Biofuels Council
American Crystal Sugar Company
American Ethanol, Inc.
American Honda
AmericanEthanol, Inc.
Andlinger & Company, Inc.
Andrews Kurth, LLP
Andritz Inc
Anhydro Inc
Antares Group Inc.
API
Aquaterra Environmental Solutions, Inc.
ARC Financial Corp.
Ashford Capital Management
Association of Equipment Manufacturers
ATI Wah Chang
Auburn University
Australian Cane Growers Council Ltd
Aventine Renewable Energy Inc.
Baisch Engineering, Inc.
Baker & McKenzie LLP
Baker Petrolite
Barclays Capital
Barr-Rosin Inc.
BASF
BATL BioFuels LLC
BBI International
Bear Stearns
Bentley Systems, Inc
Betatec Hop Products
Bio Energy International, LLC
BioChem Insights
Bioconversion Technologies
BioScience Ventures
BIOTECanada
Biotechnology Industry Organization
Biothene Corporation
Black River Asset Management
Blackwell Sanders LLP
Blackwood Energy Ltd.
Bliss Industries, LLC
Bluefire Ethanol, Inc.
Bois Forte Reservation Tribal Council
Boise Cascade LLC
Boldt Construction
Booz Allen Hamilton
Bordeaux International Energy
Consulting, LLC
Braemar Energy Ventures LLC
Broin Companies
Buckeye Renewable Fuels Association
Bunge
C2 Biofuels, LLC
C5-6 Technologies
Cal/West Seeds
California Energy Commission
Cambi AS
Canadian Renewable Fuels Association
Cantor Fitzgerald
Capitol Decisions Inc.
Cargill
Cashco, Inc.
Catawba County, Utilities & Engineering
Cauffiel Technologies
CDM
CEA, Inc.
Celsys BioFuels, Inc.
Celunol Corp.
Centrec Consulting Group LLC
Ceres, Inc.
CFDC
CH2M HILL
Chadbourne & Parke LLP
Chempolis
Chevron
Chrysler
Citrus Energy LLC
ClearFuels
Climate Wire
Colin Bryant
Colombus Industries
Combest, Sell & Associates
Commercial Alcohols, Inc
Consulate General of Canada
Cooper Crouse-Hinds
Cooper Marine & Timberlands Corp
Cornerstone Government Affairs
Costkata, Inc.
Council For Sustainable Biomass
Production
CSX Transportation
Ct. Clean Energy Fund
Cytec Industries Inc.
Dakota Renewable Fuels
Decker Energy International, Inc
Deere & Company
Delta-T Corporation
Desselle Maggard Corp
DIS-TRAN Packaged Substations, LLC
Dittus Communications
Diversa Corporation
Dougherty & Company
DuPont
DuPont Biofuels
Dupont Danisco
Dyadic International, Inc.
Eastman
Easy Energy Systems Inc.
Eaton Corporation
ECE Solutions, LLC
EcoEnergy LLC
Ecolab Inc.
Eco-Tec Inc.
EdeniQ, Inc
Edenspace Systems Corporation
Embassy of France
Emersa Engineering Inc.
Emerson Process Management
Empire State Ethanol & Energy, LLC
Endicott Biofuels II, LLC
Enerfab, Inc.
Energy & Environmental Research Center
Energy Development Initiatives
Energy Washington Week
Enerkem
Enterprise Florida
Environmental Defense Fund
Environmental Protection Agency
EP Minerals
Ergon, Inc.
Ernst Conservation Seeds
ERRC-USDA
Ethanol Promotion and Information
Council (EPIC)
Ethanol Technology
Evonik Degussa GmbH
Ewing Bemiss & Co.
ExxonMobil
Fagen, Inc.
FCStone
Fiber Glass Systems
Florida BioFuels Association
Florida Crystals Corporation
Florida Department of Agriculture
Florida Department of Agriculture and
Consumer Services
Florida Energy & Climate Commission
Flowserve Corporation
FMC Corporation
Food & Drug Administration
Forest & Wildlife Research Center
Foundation for Integrity
GA Environmental Facilities Authority
Garbrook Associates, LLC
Gas Grass, LLC
GE Energy Financial Services
GE Global Research
General Catalyst Partners
General Motors
Genesee Regional Bio-Fuels
Genomatica
GenPower
Geo-Heat Center
Georgia Research Alliance
GeoSynFuels LLC
Gevo, Inc.
Global Emerging Markets Advisors
GM Research & Development Center
Goldman Sachs
Grace Davison
Great River Energy
Green Circle Bio Energy, Inc.
Green Energy Group
Green Energy Resources
Green Vision Energy LLC
GreenField Ethanol, Inc.
GreenFuels Energy, LLC
GreenMountain Engineering
GreenShift
Harris Group Inc.
Hartford Steam Boiler Inspection &
Insurance Co.
Harvest Management
Harvest Technologies Consulting, Inc.
HDR, Inc
Headwaters Inc.
Hercules Incorporated
Herty Advanced Materials
Development Center
High Plains Energy, Inc.
Hudson Clean Energy Partners
Husch Blackwell Sanders LLP
HWC
Hydrite Chemical
ICM, Inc.
Idaho National Laboratory
Idemitsu Apollo Corporation
Illinois FarmWeek
Indiana State Department of Agriculture
IndoRama Group
INEOS Bio
Innovative Soil Solutions
International Applied Engineering, Inc.
International Trade Administration
Interstates Companies
Invensys Process Systems
Iogen Corporation
Jefferies & Company, Inc.
John W. Conrad III & Company
JPMorgan
Kaintuck Capital Mgmt
Kansas Bioscience Authority
Kansas Department of Commerce
Kansas Wheat
Kaw Nation
Kergy, Inc.
Kidd & Company, LLC
Kiewit Energy
K-L Energy Partners, LLC
KL Process Design Group
Klamath County Economic
Development Association
Koch Genesis, LLC
Kruger Inc.
Lafayette BioAg
Laidig Systems, Inc.
Lallemand Ethanol Technology
Lamar University
Langan Engineering and Environmental
Services
Larson Engineering
Lawrence Berkeley National Laboratory
LEAF
Lesaffre Yeast Corp.
Lignol Energy Corporation
LiquidMaize, LLC
Lockhart Power Company
Lortscher Agri Service, Inc
Losonoco Inc.
Luminate, LLC
Lurgi
Lynodell
M. A. Mortenson Company
MAC Equipment
Marista Consulting, Australia
Marvista Holdings
Mascoma Corporation
MATRIC
Maxcy Development Group, Inc.
Mendel Biotechnology, Inc.
Mergermarket
Meridian Biorefining Corporation
Merinus LLC
Merrick & Company
Metabolix
Metso
Michael Best & Friedrich
Mid-Atlantic Technology, Research and
Innovation Center - MATRIC
Midwest Grain Processors
Minnesota Corn Growers Association
Minnesota Department of Agriculture
Mississippi Technology Alliance
Missouri Corn
Missouri Department of Agriculture
Misty Hills Farm, LLC
Molecular Plant Breeding Cooperative
Research Centre
Monsanto Company
Montana Microbial Products
Morgan Stanley
Mortenson Construction
Mosaic Federal Affairs LLC
Mt.Pulaski Products
Nalco Company
NASA Ames Research Center
National Agricultural Research, Ext., Edu.,
& Eco. Advisory Board (USDA)
National Corn Growers Association
National Corn-to-Ethanol Research Center
National Ethanol Vehicle Coalition
National Hay Association
National Renewable Energy Laboratory
National Wildlife Federation
Nat’l Corn-to-Ethanol Research Center
Natural Resource Group LLC
Natural Resources Canada
Natural Resources Defense Council
Nebraska Public Power District
New Energy & Industrial Technology
New Energy Finance
NFU
NGP Energy Technology Partners
Niro Inc.
Nissan Technical Center North
America, Inc.
NorFalco Sales Inc.
North America Construction Ltd.
North Dakota Department of Commerce
North Dakota Department of Commerce
Novozymes
NREL
NRG Energy - South Central Region
NY State Department of
Agriculture & Market
NYSERDA State of New York
Oak Ridge National Laboratory
Ogilvy Public Relations
Oklahoma Bioenergy Center
Oregon Department of Energy
Outokumpu Stainless Inc
PAC, LP
Pacific Ethanol, Inc.
Pacific Northwest National Laboratory
Parsons
Penford Corporation
Pennington Allen Capital Partners
Performance Plants Corp.
Performance Plants Inc.
Personal Technology Enterprises, LLC
Pesco, Inc
PFC Energy
PhibroChem
Plum Creek Timber Company
POET
Prairie Lands Bio-Products, Inc.
Praj Industries Ltd.
Praxair
Price BIOstock Services
PRIDE Enterprises, Inc.
Procter & Gamble
Purdue University
PureVision Technology, Inc.
R. W. Beck
Raphael Katzen, P.E.
Recycle CO2 Inc.
Rocky Mountain Institute
Roskamp Champion
Royal Borough of Kensington & Chelsea
Royal Nedalco
Saferack, LLC
Savannah River National Laboratory
Scheck Industries
Segetis, Inc
SEKAB Industrial Development
Siemens
SJH and Co.
SNC-Lavalin Inc.
Societe Generale
Society of Chemical Industry
Solar Turbines, Incorporated
South Dakota Corn Utilization Council
Southeast Renewable Fuels, LLC
SPO Partners & Co.
SSOE, Inc.
St. Petersburg Times
Stanford Group Company
Stanley Consultants, Inc.
State of Florida
State of Oklahoma
StatoilHydro ASA
Stinger LTD
Stoel Rives, LLP
Sulzer Pumps (Canada) Inc.
SunEthanol
SweTree Technologies AB
Symyx Technologies
Syngenta Biotechnology, Inc.
Syngenta Crop Protection AG
Synthetic Genomics, Inc.
TAGO International, LLC
Targeted Growth, Inc
Tate & Lyle
TD Banknorth, N.A.
Tembec
Terrabon LLC
Tersus Energy Plc
Tetra Tech
Texas A&M University
Texas Agricultural Experiment Station
The Arrington Corporation
The Conti Group
The French Embassy
The Nature Conservancy
The New York Times
The Price Companies, Inc.
The Scoular Company
The Weitz Company
Tobacco process Partners, Inc
TOTAL S.A.
Town of Warrenton
Toyota Motor North America
Trace Environmental Systems
TSG Marketing
U.S. Bioenergy
U.S. Department of Agriculture
U.S. Dept. Agriculture
U.S. Energy Partners, LLC
U.S. International Trade Commission
U.S. Sugar Corporation
U.S. Water Services
University of Agriculture,
Faisalabad, Pakistan
University of Arkansas
University of Georgia
University of Guelph
University of Illinois
University of MN Duluth/NRRI
University of Notre Dame
University of Tennessee
University of Waterloo
University of Wisconsin, Madison
UPI
US Bio Energy
US Department of Agriculture
US Department of Commerce
US Department of Energy
US Energy Partners, LLC
US International Trade Commission
US Renewables Group
Vattenfall
Ventron
VeraSun Energy Corp
Verenium Corporation
Vermeer Corporation
Virginia Farm Bureau Federation
Waste Management
West Virginia State University
Western Plains Energy, LLC.
Westfalia Separator Canada Inc.
Weston Solutions
Weyerhaeuser Company
Winbco Tank Company
Winrock International
World Waste Technologies, Inc
Xethanol Corporation
Zachry
Summit Partners
Platinum Sponsor
Gold Sponsors
Supporting Sponsors
Reception Sponsor
Luncheon Sponsor
Silver Sponsor
Internet Sponsor Exhibit Sponsor
Supporting Organizations
Media Partners
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The Finance & Investment Forum
Monday, November 15th, 2010
The cellulosic biofuels industry has matured to the stage where it is ready to move to commercialization. The only thing preventing it from doing so is financing, which has become the industry’s number one challenge.
The Forum is designed to bring a laser-beam focus on this critical industry issue. It will bring together the members of the cellulosic biofuels industry and the financial community with the key representatives from the
government’s funding programs to:
»»
»»
»»
»»
Develop a more complete understanding of the financing challenge facing the industry
Obtain a deeper insight into the workings of government funding programs
Explore potential workarounds, innovative structures, and other opportunities for providing solutions to the financing puzzle
Consider changes in policy, legislation, and financing strategies that may be needed to move the industry forward
Registration & Continental Breakfast
Sponsored By:
Welcome and Introduction by the Forum Chair
Graham Noyes, Of Counsel, STOEL RIVES, LLP
Special Briefing:
DOE Loan Guarantee Program: An Update on its Operation
The DOE Loan Guarantee Program is key to the financing strategies of many cellulosic biofuels plant
developers. Yet, to-date, the Program has not approved a loan for a cellulosic biofuels plant. This briefing
will provide insight into the operation of the program and its weighing of cellulosic biofuels applications
with the goal of helping the industry understand what it takes to submit a successful application.
»» What is the DOE Loan Guarantee Loan Program’s experience with processing cellulosic
biofuels applications?
»» What can the industry learn from this experience?
»» What do applicants need to know, anticipate and address to increase their chances of obtaining an
approval? What key project characteristics need to be in place?
»» How long should they expect the process to take?
»» Are changes in the Program’s scoring system anticipated? If so, through what process will those
changes be made?
Jonathan Silver, Executive Director, Loan Guarantee Program, U.S. DEPARTMENT OF ENERGY
Special Briefing:
USDA Financial Assistance Programs for Biofuels
Secretary Vilsack has said that USDA Rural Development is the primary agency charged with
commercialization of the advanced biofuels industry and stated that the USDA may have to take bigger
chances with its business loan guarantees. The Department is administering its assistance to the industry
through the Biorefinery Assistance Program and the Bioenergy Program for Advanced Biofuels. This briefing
will provide the latest information about these programs and their operations—again with the goal of
helping the industry understand what it takes to submit a successful application.
»» How will the weighing of loan guarantee applications under the Biorefinery Assistance Program differ
from the DOE Loan Guarantee Program?
»» What do applicants need to know, anticipate and address to increase their chances of obtaining an
approval? What key project characteristics need to be in place?
»» What are the key elements needed to qualify under the Bioenergy Program for Advanced Biofuels?
»» How long should they expect the process to take?
Chris Cassidy, Acting Branch Chief, Energy,
U.S. DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT - ENERGY
Moderator:
John J. McKenna, Managing Director, HAMILTON CLARK & CO.
Panelists:
Mike Edgerton, Bioenergy Team, MONSANTO BIOENERGY
Jonathan Koch, Partner, US RENEWABLES GROUP, LLC
Jason Sagabiel, Director of Renewable Fuels, FC STONE, INC.
Justin van Rooyen, Director of Business Development, MASCOMA CORPORATION
Mark Warren, Partner, ASCENDANT PARTNERS, INC.
Special Briefing:
Financing Renewable Energy Crops:
The Biomass Crop Assistance Program (BCAP)
The Biomass Crop Assistance Program is designed to ensure that a sufficiently large base of new, nonfood,
nonfeed biomass crops can supply future demand for renewable energy consumption by reducing the
financial risks to suppliers. BCAP expires in 2012, and according to the USDA, most biomass conversion
facilities need to be in the pipeline now in order to qualify for BCAP benefits. Can this program really
deliver benefits to the current pipeline of commercial scale cellulosic biofuel plants seeking financing?
This briefing will address this question and discuss the relevance of the program to the cellulosic biofuels
industry.
Jonathan Coppess, Administrator – Farm Service Agency, U.S. DEPARTMENT OF AGRICULTURE
Presentation:
Other Financing Sources
Sustainable Development Technology Canada (SDTC) is a not-for-profit foundation that finances and
supports the development and demonstration of clean technologies via funds aimed at the development
and demonstration of innovative technology solutions. Currently, their $500 million NextGen Biofuels
Funds supports the establishment of first-of-kind large demonstration-scale facilities for the production of
next-generation renewable fuels.
Guy Ouimet, P. Eng. MBA, Senior Advisor, SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA’S
NEXT GENERATION BIOFUELS FUND
Networking Break
Dual Presentation:
Accessing the Capital Markets to Fund Loans Under the
Biorefinery Assistance Loan Guarantee Program
Under its Biorefinery Assistance Loan Guarantee Program, USDA guarantees only a percentage of a project
loan. It requires private lenders to fund the loan and apply to USDA for a guarantee of a percentage of that
loan. Because of commercial banks’ risk aversion to emerging technologies, biofuels project developers
have not been able to successfully access the program. The capital markets may be able to provide a
solution. This session will explore the new and innovative financing structures, including bond financings,
which are being evaluated by USDA and the financial community.
»» What changes in program regulations are being considered to accommodate traditional bond
financing structures?
»» How would these new structures work?
»» What is the timeline for implementation?
»» What indications are there that the capital markets have a real appetite for the un-guaranteed portion
of first of kind commercial scale biofuels projects?
»» Are there opportunities for access to the capital markets not connected with the loan
guarantee program?
»» What would it cost to finance through the capital markets and what are the elements of those costs?
John May, Managing Director, STERN BROTHERS & CO.
Mark J. Riedy, Partner, MINTZ LEVIN & General Counsel,
AMERICAN COUNCIL ON RENEWABLE ENERGY (ACORE)
»» How do feedstock risks differ between crop residues, energy crops, woody biomass and MSW?
Between supply and price risks?
»» What is needed to make feedstock supply agreements financable?
»» Term of contract
»» Allocating financial risks
»» Creditworthiness of suppliers
»» Performance guarantees
»» Other factors
»» Are financable supply agreements needed or are there other acceptable alternatives for managing
supply risks?
»» Are offtake agreements essential to make commercial scale biofuel plants financable or does the RFS
provide enough guarantee that there will be a market for every gallon produced?
»» Assuming that the RFS will assure a market, how should/could price volatility be managed?
»» Will any party sign an offtake agreement in today’s marketplace?
Group Luncheon Sponsored By:
Managing Feedstock and Offtake Risk
The recent financial woes of the biodiesel and corn ethanol industries have highlighted the importance of
managing feedstock and offtake risks. Conscious that traditional project finance requires both feedstock
supply contracts and an offtake agreement, the DOE and USDA are focusing on these risks in their loan
guarantee application evaluations. This panel will take a close look at the real nature of these risks in the
context of commercial scale biofuels projects and explore solutions for managing them.
Networking Break
The Path Forward
The cellulosic biofuels industry has reached a critical stage in its history and must figure out how to obtain
the financing it needs to enable the industry to survive and thrive. So, what is the path forward? This panel
will explore the options for the future, highlighting where they see the potential for workarounds, innovative
structures, and other opportunities for providing solutions to the financing puzzle.
»» Government financing
»» What role is the variety of current government financing programs likely to play?
»» Are there opportunities to use these programs in different ways to attract private capital?
»» Are changes to these programs needed? Are they politically possible?
»» Private financing
»» How much of the current project financing difficulties are attributable to financial market
conditions and how much to problems with cellulosic biofuels business models and
associated market, technology, and feedstock risks?
»» What, if any, changes in government policy would draw private financing into the industry?
Changes in the RFS? An investment tax credit? Changes in the rules of the loan
guarantee programs?
»» Would more stability/certainty in government policy and regulation draw private capital to
the industry?
»» Would more transparency in capital costs, operating costs and yield comfort private investors
and lenders?
»» Is there any combination of factors that will draw financial institutions into the industry?
»» Will the industry need to be financed by strategic investors? If so, what changes are needed
to their investment?
»» Opportunities for innovative structuring and other solutions
»» Accessing the capital markets
»» Utilizing BCAP to offset project equity
Moderator:
Graham Noyes, Of Counsel, STOEL RIVES, LLP
Panelists:
Wesley J. Bolsen, Chief Marketing Officer, VP of Business Development, COSKATA
Dan Cummings, Vice President Commercial & External Affairs –Americas & Asia, INEOS BIO
Denny DeVos, Vice President of Corporate Finance, POET
Daniel Oh, President & COO, RENEWABLE ENERGY GROUP, INC.
Thomas Suffield, Director of Renewables, THE GAVILON GROUP LLC
The Finance Forum Adjourns
The Cellulosic Biofuels & Biorefineries Summit
Policy, Regulatory & Financial Solutions
Summit Day One: Tuesday, November 16th, 2010
Registration & Continental
Breakfast Sponsored By:
Welcome & Introduction by the Chair of the
Summit Day One
Bob Dinneen, President & CEO, RENEWABLE FUELS ASSOCIATION
Keynote Address:
The Department of Agriculture’s Support of Biofuels
& Biorefinery Development
Tom Vilsack, Secretary, U.S. DEPARTMENT OF AGRICULTURE (Invited)
Special Presentation:
The Obama Administration’s Biofuels and
Biorefinery Policy
Heather Zichal, Deputy Assistant to the President for Energy & Climate Change Policy,
THE WHITE HOUSE (Invited)
Networking Break
Creating a Policy Framework That Will Enable
Biofuels & Biorefinery Commercialization
The cellulosic biofuels industry stands at a crossroads. After successfully moving from
technology development to the construction and operation of demonstration and pilot
plants, the industry is now ready to take the final step of launching a fleet of commercial
scale plants. Yet, it is becoming more and more apparent how difficult it will be to
achieve this final step under the current regulatory environment. The vital question facing
the industry and the nation is what policy and regulatory framework needs to be put
in place in order for the nation to meet its biofuels goals. The Summit’s opening panel
will discuss the key hurdles preventing commercialization and the pieces of policy and
regulation that will enable the cellulosic biofuels industry to move forward over the
coming year.
»» What are the key commercialization challenges that the industry faces that require
changes to policy and regulation?
»» What policies and regulations will provide the framework to address
these challenges?
»» RFS2—is it structured in a way that will lead to successful commercialization? If
not, what changes are needed?
»» What carbon policies and regulations make sense?
»» What financial support and financial incentives will be required? How should
they be structured?
»» How much will these policies and regulations cost? What risks do they require the
government to assume? What role should government take in commercialization?
»» What policies and regulations are needed to obtain the financial community’s
support of the industry?
»» How will the changing tax incentives impact cellulosic biofuels projects?
»» What is the support in Congress for workable regulatory regime? What impact will
the elections have on the prospects for making the required changes?
»» Is it possible to achieve the policy stability that investor are looking for? What are
the prospects of locking in an incentive structure for the long-term?
Moderator:
Keith Martin, Partner, CHADBOURNE & PARKE, LLP
Panelists:
Wesley Bolsen, Chief Marketing Officer, Vice President of Business Development,
COSKATA
Matt Carr, Ph.D., Managing Director, Policy, Industrial and Environmental Section,
BIOTECHNOLOGY INDUSTRY ORGANIZATION (BIO)
Roger Conway, Chief Economist, GROWTH ENERGY
Bob Dinneen, President & CEO, RENEWABLE FUELS ASSOCIATION
Douglas Durante, Executive Director, CLEAN FUELS DEVELOPMENT COALITION
Candace Wheeler, GM Technical Fellow/Research & Development, GENERAL MOTORS
Special Presentation:
EPA Plans to Advance Cellulosic
Biofuels Commercialization
As a member of the Biofuels Interagency Working Group and the lead agency
responsible for implementing the Renewable Fuels Standard, EPA is a key decisionmaker in creating the regulatory framework that will shape the commercialization of
cellulosic biofuels. In this featured briefing, the EPA will provide their most up-to-date
thinking on:
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Their strategy to advance the commercialization of cellulosic biofuels
Future plans for the RFS and setting the cellulosic targets
Future plans for green house gas and carbon regulation
Current strategies for increasing the blend wall
Margo T. Oge, Director of the Office of Transportation and Air Quality,
U.S. ENVIRONMENTAL PROTECTION AGENCY
Group Luncheon Sponsored By:
Drop-in Fuels for Road Transport:
Commercialization Timelines and Impacts on the
Biofuels Market
Drop-in fuels have acquired considerable policy support, as reflected by the new
category of advanced biofuels established in RFS2. This session will provide an overview
of and outlook on the development of drop-in fuels and examine what impact they are
likely to have on the market.
»» What near-term and long-term roles are drop-in fuels likely to play in the road
transport marketplace?
»» What is the time frame for significant drop-in fuels production in the near-term,
long-term?
»» Will drop-in fuels face the same commercialization challenges as cellulosic ethanol
or will they be different? Will they face the similar financial challenges?
»» Will they have to go through the process for environmental approvals as a fuel
additive such as health effects, blend level and toxicity testing?
»» Are drop-in fuels a competitor to cellulosic ethanol or just a complimentary market
player in helping the nation meet its renewable biofuel goals?
»» What will be the impact of a successful drop-in fuels industry on biofuels markets?
Moderator:
Jim Lane, CBE, Editor & Publisher, BIOFUELS DIGEST
Panelists:
Eric Darmstaedter, CEO, CLEARFUELS TECHNOLOGY
Harrison Dillon, Chief Technology Officer, SOLAZYME
Lee Edwards, President & CEO, VIRENT ENERGY SYSTEMS
Neil Renninger, Chief Technology Officer, AMYRIS BIOTECHNOLOGIES
Networking Break
Biorefinery Plant Developers’ Perspectives on
Cellulosic Biofuels Commercialization
Biorefinery developers stand on the front-line in the battle to overcome the challenges
in building a new industry and successfully commercializing cellulosic biofuels. Day in
and day out, they fight the good fight. During this session, they will share their unique
insights on what challenges need to be overcome in order to move to commercial scale
biofuel plant development.
»» What tops a developers’ priority list for moving to commercial scale
plant development?
»» What are their strategies and plans for tackling these top priorities?
»» How important are strategic partnerships to future success?
»» How long is the window of opportunity open for building first of kind commercial
scale cellulosic biofuels plants?
Moderator:
Todd Alexander, Partner, CHADBOURNE & PARKE, LLP
Panelists:
Vincent Chornet, President & CEO, ENERKEM
Denny DeVos, Vice President of Corporate Finance, POET
Arnold Klann, Chairman/President/CEO, BLUEFIRE ETHANOL, INC.
Mark Niederschulte, COO, INEOS BIO
Daniel Oh, President & COO, RENEWABLE ENERGY GROUP
Jeff Passmore, Executive Vice President, IOGEN CORPORATION
Bill Schafer, Senior Vice President of Development & Government Affairs,
RANGE FUELS (Invited)
Summit Reception Sponsored By:
The Cellulosic Biofuels & Biorefineries Summit
Scaling Up & Transitioning to the Biorefineries of the Future
Summit Day Two: Wednesday, November 17, 2010
Registration & Continental
Breakfast Sponsored By:
»» Is there an international market?
»» What distribution channels need to be established?
»» For the technology needed to serve these markets, what does it cost and how does it
compete with the products that are already out there?
»» Does this business model have to be subsidized and what role does government
have to play to get this going?
Moderator:
James Reed, Manager Biofuels, AMEC
Welcome & Introduction by the Chair of the
Summit Day Two
Matt Carr, Ph.D., Managing Director, Policy, Industrial and Environmental Section,
BIOTECHNOLOGY INDUSTRY ORGANIZATION (BIO)
Panelists:
Tim Eggeman, Chief Technology Officer & Founder, ZEACHEM, INC.
Sam McConnell, Senior Vice President Corporate Development, MYRIANT Technologies
John Tao, Vice President – Open Innovation, Weyerhaeuser
Todd A. Werpy, Ph.D., Vice President, Advanced Biofuels & Chemicals,
ARCHER DANIELS MIDLAND COMPANY
Special Presentation:
Building the Biorefineries of the Future:
The DOE Perspective
Valerie Sarisky-Reed Ph.D., Acting Program Manager and Conversion Team Leader,
Biomass Program, U.S. DEPARTMENT OF ENERGY
Conversion of Ethanol Facilities and Pulp and
Paper Mills to Integrated Biorefineries
Converting first generation ethanol facilities and other existing industrial facilities to
integrated biorefineries is a powerful strategy for moving the industry forward. This
path offers a number of opportunities for diversifying revenue streams and improving
sustainability by equipping plants to produce advanced biofuels, cellulosic ethanol,
chemicals and power. This session will look at the potential of converting existing
facilities such as ethanol plants and pulp and paper mills to integrated biorefineries, the
options this strategy offers and the business models available to execute the strategy.
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How can the value of the existing infrastructure be captured?
How can the existing facility be used to its best potential?
What are the advantages?
What technologies best fit?
How many potential facilities are there?
How to secure intellectual property? Develop your own or acquire
through license?
»» What are the key integration issues?
»» What are the risks?
The Sugar Platform Business Model:
What is the Opportunity?
Another strategy in play is creating a sugar platform and supplying sugar to other
companies that will use the sugar as feedstock for their own operations. This panel will
explore the potential of this business model.
»» What does the model need to make it successful?
»» What government support will be needed?
»» How do you compete on price? What price can you expect? Would buyers pay more
so that their products qualify for incentives?
»» Who are the customers for the sugars? What are they doing with them?
»» Can you get offtake agreements from these customers?
Moderator:
Carol Babb, Renewable Generation Services Director, R.W. BECK
Panelists:
Jack Baron, CEO, SWEETWATER ENERGY, INC.
Michael Hamilton, CEO, SRIYA INNOVATIONS
Greg Keenan, Vice President of Business Development & Engineering,
VIRENT ENERGY SYSTEMS
Arnold Klann, Chairman/President/CEO, BLUEFIRE ETHANOL, INC.
Andrew Richard, CEO and Founder, COMET BIOREFINING, INC.
Moderator:
Mark J. Riedy, Partner, MINTZ LEVIN & General Counsel,
AMERICAN COUNCIL ON RENEWABLE ENERGY (ACORE)
Panelists:
Dick Arnold, President, OLD TOWN FUEL & FIBER
Thomas Corle, Owner, G-TEAm, Marketing Director Worldwide and Project Developer
North America, INBICON BIOMASS REFINERY
William (Butch) Johnson, CEO, FLAMBEAU RIVER BIOREFINERY, INC.
Scott Kohl, Technical Director, ICM, INC.
Theodora Retsina, CEO, AMERICAN PROCESS, INC.
Networking Break
Breaking into Alternative Markets
The integrated biorefinery opens up a wide variety of options to produce not only
biofuels, but also other high margin products. Yet, beyond the question of what products
can be produced by a specific biorefinery design, is the equally important question of
what is the realistic potential of these products to successfully and profitably penetrate
their respective markets. Only by recognizing and tackling the many challenges of
serving alternative markets can biorefiners be comfortable that they have a high-quality
business plan. To do this, biorefiners will need to roll up their sleeves and do some
serious business development work. This session will explore some the issues they will
need to address when evaluating the potential of alternative markets:
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Group Luncheon Sponsored By:
Networking Break
Challenges to Scale Up From Pilot & Demonstration
to Commercial Scale Projects
Scaling up to commercial scale biofuels production facilities is a significant
challenge that requires careful planning and foresight. This session will provide two
unique perspectives.
»» How does scale up differ from one unit operation to the next? Is a fermenter the
same as a gasifier?
»» How does scale up differ from a commercially proven unit operation to a
new design?
»» What variables are important to consider for the different unit operations?
»» What are the risks?
»» How do lenders look at scale up?
»» How do the manufactures look at scale up?
»» What will they guarantee?
Presenters:
Mark Warner, Vice President of Process Industries, HARRIS GROUP, INC.
Richard Wilson, President, APPLIED CHEMICAL TECHNOLOGY, INC.
The Summit Adjourns
What are the markets?
What are the sizes of these markets?
How do you find them?
How do you break into them?
What Participants Said About Previous Editions of the Cellulosic Biofuels Summit:
A great conference in challenging times for the biofuels industry!”
—Guy Ouimet, Senior Advisor, SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA
Excellent conference! As a new player in the industry, the Summit provided a great balance of overview
issues and complex details.” —Louis Buck, Commercialization Manager, GENERA ENERGY
The Feedstock Supply Chain Forum
Thursday, November 18th, 2010
As the cellulosic biofuels industry stands on the verge of moving to commercial scale production, securing the feedstock supply chain (and its logistics) to meet commercial scale
demand is critical to industry success. The Forum provides an excellent opportunity for attendees not only to hear about the latest developments taking place to set up supply chains, but
also the work being done to drive down the costs and improve the efficiency in feedstock logistics. The focus will be on the feedstocks that will be used by the first generation of new
cellulosic biofuel projects: crop residues, energy crops and woody biomass. The goal of the Forum is to report on the experience on the ground so that that the industry can profit by the
valuable lessons to be learned and progress being made in this critical part of the cellulosic biofuels supply chain.
Registration & Continental Breakfast
Welcome and Introduction by the Chair
Focus on Florida
Sumesh Arora, Ph.D., Director of Strategic Biomass Solutions,
MISSISSIPPI TECHNOLOGY ALLIANCE
Jay Levenstein, Deputy Commissioner,
FLORIDA DEPARTMENT OF AGRICULTURE
Logistics
Session One: Crop Residues
New Developments in Harvesting and Collection
John Cundiff, Professor Emeritus, Biological Systems Engineering
Department, VIRGINIA TECH
Jay Van Roekel, Segment Manager, VERMEER
Group Luncheon
New Developments in Storage, Queuing & Transportation
Kevin Kenney, Research Engineer, Industrial and Material Technology
Department, IDAHO NATIONAL LABORATORY
New Work on Sustainability
Dr. Jeff Novak, Research Soil Scientist, USDA-ARS-CPRC
Session Three: Woody Biomass
Woody Biomass – Harvesting, Collection & Transportation
Dr. Dana Mitchell, Research Engineer, USDA FOREST SERVICE
Networking Break
Woody Biomass – Supply
Dr. Jeff Wright, Senior Scientist, Eucalyptus Sales, Silvicultural Systems,
ARBORGEN
Session Two: Energy Crops
Woody Biomass – Sustainability
Focus on Tennessee
Louis Buck, Manager, Tennessee Biomass Supply Co-op,
GENERA ENERGY, LLC
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Hear From Over 50 Leaders at the 5th Annual Cellulosic
Biofuels Summit Where Developers, Technology Providers,
Feedstock Suppliers, Investors, Federal Representatives
& Other Key Industry Players Come Together to Build the
Industry & Transition to the Biorefineries of the Future!
What Participants Said About Previous Editions of the Cellulosic Biofuels Summit:
Great Conference! The Cellulosic Biofuels Summit provides the opportunity
for key leaders in the biofuels industry to dialog on the topics critical to the
future development of the industry. The interactive style promotes the exchange
of information and the ability to dialog on issues which are on the minds of the
participants.” —Candace Sue Wheeler, Ph.D., Technical Fellow, GENERAL MOTORS
This is a Great opportunity, not only to hear about the latest technologies and
policies that will shape the biofuel industry’s future, but also to network with the
decision-makers at the industry’s leading companies.”
—Susan Ehrlich, Business Director, W.R. GRACE
Great gathering! All perspectives and all points of advocacy in open forum.
Technical, economic and political expertise unlimited in the room!”
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