Financing Environment for Advanced Biofuels
Mohr Davidow Ventures Venture Investing in BioEnergy
Will Coleman Biomass 2009 – Washington, DC March 17, 2009
® Copyright 2007 Mohr, Davidow Ventures
Mohr Davidow Ventures Founded in 1983 $2 billion under management ~20 investing professionals Investment sectors: z
Cleantech
z
Information Technology
z
Life Sciences
Early stage technology focus 100+ funded companies
® Copyright 2007 Mohr, Davidow Ventures
2
One of the leading Cleantech portfolios
Solar
Fuels/Chemicals
Mining/Materials
Transportation
Thin-film Solar
Cellulosic Biofuels
Solar Systems
Biodiesel Catalysts
Energy Storage
Automotive Design
Engineered Chemicals
Building Materials
Fuel Cells – UAVs
Solar Development
Coal Gasification
BioChemicals
® Copyright 2007 Mohr, Davidow Ventures
3
The premise is not $100 oil
® Copyright 2007 Mohr, Davidow Ventures
4
Peak oil depends on willingness to pay Potential Supply of Liquid Hydrocarbons
® Copyright 2007 Mohr, Davidow Ventures
Source: A E Farrell & A R Brandt, Environmental Research Letters
5
Demand will continue to grow globally
® Copyright 2007 Mohr, Davidow Ventures
6
Bio-products today and tomorrow The first products are corn ethanol and soybean-based biodiesel, but….. z
Land-use efficiency (food vs. fuel)
z
Low energy density
z
Carbon profile
z
Distribution and other issues
Next generation products provide increasing promise z
Cellulosic ethanol
z
Methanol, butanol
z
Petrochemical replacements – BDO, Acrylic, Alkenes, others
z
Intermediates and other biochemicals
z
Algae-based biodiesel
® Copyright 2007 Mohr, Davidow Ventures
7
Some examples from our portfolio
® Copyright 2007 Mohr, Davidow Ventures
8
Next Generation Cellulosic Ethanol
Currently two known paths to produce ethanol ~115 gal/BDT
Biochemical: Enzymes
~115 gal/BDT
Thermochemical: Gasification
~160 gal/ BDT
ZeaChem: Hybrid of both Unlocks superior efficiencies
BDT = Bone Dry Ton Yield is highest theoretical maximum ® Copyright 2007 Mohr, Davidow Ventures
9
Combining proven technologies
or other high value products
® Copyright 2007 Mohr, Davidow Ventures
10
Ready Today Ultra low carbon fuel z
100% carbon utilization in end product
z
Woody biomass feedstock = carbon sequestering energy crop
Lowest Cost Process z
Combines proven technology and naturally occurring organisms
z
Competitive with oil at
Will Coleman Biomass 2009 – Washington, DC March 17, 2009
® Copyright 2007 Mohr, Davidow Ventures
Mohr Davidow Ventures Founded in 1983 $2 billion under management ~20 investing professionals Investment sectors: z
Cleantech
z
Information Technology
z
Life Sciences
Early stage technology focus 100+ funded companies
® Copyright 2007 Mohr, Davidow Ventures
2
One of the leading Cleantech portfolios
Solar
Fuels/Chemicals
Mining/Materials
Transportation
Thin-film Solar
Cellulosic Biofuels
Solar Systems
Biodiesel Catalysts
Energy Storage
Automotive Design
Engineered Chemicals
Building Materials
Fuel Cells – UAVs
Solar Development
Coal Gasification
BioChemicals
® Copyright 2007 Mohr, Davidow Ventures
3
The premise is not $100 oil
® Copyright 2007 Mohr, Davidow Ventures
4
Peak oil depends on willingness to pay Potential Supply of Liquid Hydrocarbons
® Copyright 2007 Mohr, Davidow Ventures
Source: A E Farrell & A R Brandt, Environmental Research Letters
5
Demand will continue to grow globally
® Copyright 2007 Mohr, Davidow Ventures
6
Bio-products today and tomorrow The first products are corn ethanol and soybean-based biodiesel, but….. z
Land-use efficiency (food vs. fuel)
z
Low energy density
z
Carbon profile
z
Distribution and other issues
Next generation products provide increasing promise z
Cellulosic ethanol
z
Methanol, butanol
z
Petrochemical replacements – BDO, Acrylic, Alkenes, others
z
Intermediates and other biochemicals
z
Algae-based biodiesel
® Copyright 2007 Mohr, Davidow Ventures
7
Some examples from our portfolio
® Copyright 2007 Mohr, Davidow Ventures
8
Next Generation Cellulosic Ethanol
Currently two known paths to produce ethanol ~115 gal/BDT
Biochemical: Enzymes
~115 gal/BDT
Thermochemical: Gasification
~160 gal/ BDT
ZeaChem: Hybrid of both Unlocks superior efficiencies
BDT = Bone Dry Ton Yield is highest theoretical maximum ® Copyright 2007 Mohr, Davidow Ventures
9
Combining proven technologies
or other high value products
® Copyright 2007 Mohr, Davidow Ventures
10
Ready Today Ultra low carbon fuel z
100% carbon utilization in end product
z
Woody biomass feedstock = carbon sequestering energy crop
Lowest Cost Process z
Combines proven technology and naturally occurring organisms
z
Competitive with oil at
