Solid Biomass Conversion to Transportation Fuels with UOP

Solid Biomass Conversion to Transportation Fuels with UOP RTP™ Upgrading Technology Jim Rekoske April 3, 2012 Washington, D. C.

Honeywell International • $36 billion (2011) in revenues, 50% outside of U. S. • Nearly 130, 000 employees operating in 100 countries • Morristown, NJ global corporate headquarters Aerospace Automation & Control Solutions Specialty Materials Transportation Systems $10. 8 -11. 2 B* $14. 7 -15. 1 B* $5. 0 -5. 2 B* $4. 3 -4. 5 B* *‘ 11 revenues estimate 2 © 2011 UOP LLC, a Honeywell Company

Energy Efficiency More than 50% of Honeywell’s portfolio offers energy efficiency benefits By immediately and comprehensively adopting existing Honeywell products, the United States could reduce energy consumption by 20 to 25 percent 3 Air Traffic Modernization Biofuels Green Buildings Reduced Emissions Fuel Efficiency Industrial Process Efficiency Energy Efficiency, Demand Response, & Smart Grid Energy Performance Contracts © 2011 UOP LLC, a Honeywell Company

UOP LLC, A Honeywell Company Founded in 1914 A leading international supplier and licensor of processing technology, catalysts, adsorbents, process plants, and technical services. Largest process licensing organization in the world. 31 out of 36 refining technologies in use today were developed by UOP Markets • Petroleum refining • Petrochemical production • Gas processing • Renewable fuels and chemicals Products/Services • Developing and licensing of process technology • Equipment • Catalysts • Adsorbents • Molecular sieves We’ve Known Hydrocarbon Fuels for 100 Years! 4 © 2011 UOP LLC, a Honeywell Company

Renewable Technology Portfolio Inedible Oils Animal Fats Biomass UOP/Eni Ecofining. TM Process Honeywell Green Diesel. TM Renewable Jet Process Honeywell Green Jet. TM Green Jet Green Diesel Gasification Rentech / UOP Alliance Separation UOP Scope FT Synthesis Others. Scope Conversion Green Fuels RTP® (Pyrolysis) Green Power / Fuel Oil (now) Envergent Technologies – UOP/Ensyn JV 5 Upgrading Process Green Fuels (2014) Proven Technologies for Feedstock Flexible Drop-in Fuels © 2011 UOP LLC, a Honeywell Company

New Additions to the UOP Portfolio Alcohols UOP ATJ Process Alcohol to Jet (and Diesel) Honeywell Green Jet. TM Green Diesel • Demonstrated under grant from US FAA • Project completed 2012 – ready for license 2013 • Isoparaffinic kerosene – limited aromatics • Smooth boiling point curve – millions of paraffins, isoparaffins, naphthenes • Just like petroleum-derived jet fuel! Green Fuels RTP® (Pyrolysis) Upgrading Process Gasoline Diesel Biomass 6 New Technologies which Extend Our Solutions © 2011 UOP LLC, a Honeywell Company

RTP Flow Diagram No net utilities required RTP is self-sustaining process 7 © 2011 UOP LLC, a Honeywell Company

Upgrading to Green Transportation Fuels Objectives: Remove oxygen as water and CO 2 by hydrogen & catalyst p. H Neutrality, Equal Viscosity Produce high octane gasoline, or diesel/jet precursors Two Stage Hydrodeoxygenation Biomass H 2 O= 10 -40% O = 40 -55% 8 RTP 1 st Stage HDO H 2 O = 10 -30% O = 35 -55 TAN = 100 -200 © 2011 UOP LLC, a Honeywell Company Full HDO Hydrocarbons H 2 O = 300 -1000 ppm O = <0. 2% TAN < 2

IBR – Biomass to Transportation Fuel Pilot biomass RTP Rapid Thermal Processing Hydrocarbon Upgrading Green gasoline, diesel & jet fuel • Pilot-scale conversion of biomass into liquid transportation fuels • Located at the Tesoro Refinery in Kapolei, HI • Backed by a $25 million award from the U. S. Department of Energy • Utilizes a wide range of locally available biomass (switchgrass, algae, forest and agricultural residuals) • Commercial units could create up to 800 construction jobs and 1, 000 new jobs in biomass production and refinery operations • Greater than 60% reduction in greenhouse gas emissions • Phase 1 Start-up Underway 4/2/2012 • Fully Operation 1 Q 2013 Making Cellulosic Biofuels a Reality 9 © 2011 UOP LLC, a Honeywell Company

Product Yield & Quality Distillation of RTP Upgrader Product RFO to Fuels Feed/Product Analysis Renewable Fuel Oil (RFO) Stage 2 Product (Pilot Plant) Gasoline Requirements H 2 O, % ~25 0. 03 <0. 1 O, % 51 0. 25 <2. 0 TAN, meq/g 91 <0. 1 100 90 80 70 60 % 50 40 30 20 10 0 Jet Gasoline Diesel Feed Product 0 100 200 300 400 500 600 700 800 °C RFO to Liquid Hydrocarbon Yields 1 Mass Yield % Stage 1 Stage 2 Overall from RFO 53 78 41 Volume Yield 65 93 602 % 1. Demonstrated yields at multiple equipment scales 2. Equals >90 gallons per dry MT for woody biomass • ~50% of material in gasoline boiling range (IBP-200 o. C) - RON of gasoline ~ 80 -89 - Passes all tests (color, corrosion, etc) needed as gasoline blend stock • ~40% of material in distillate (jet and diesel) boiling range - Contains paraffins, isoparaffins, - naphthenes and aromatics Full Range Drop-in Fuels at 90 gallons per MT of Dry Biomass 10 © 2011 UOP LLC, a Honeywell Company

Summary • Our portfolio of offerings has grown! - Ecofining and Renewable Jet – renewable fuels from fats, greases, oils NOW - Gas separation, purification and paraffin dewaxing – gasification / FT fuels NOW - RTP for Renewable Fuel Oil – an energy dense substitute for fuel oil NOW - Alcohol-to-Distillate Process – jet and diesel from renewable alcohols 2013 - RFO Upgrading to Transportation Fuels – true drop-in cellulosic biofuels 2014 • We provide cost-effective options to meet biofuel and bioenergy needs: - Most efficient, cost effective and reliable renewable diesel and renewable jet fuel processes - Renewable fuel oil which competes with petroleum fuel oil without subsidy - Cellulosic biofuels from RFO Upgrading at parity with petroleum-derived gasoline and distillates UOP Continues to Develop and License Innovative Technologies for Renewable Fuel and Energy 11 Available © 2011 UOP LLC, a Honeywell Company