Gevo, Inc. · NASDAQ:GEVO
Gevo — Investor Presentation (June 2019)
30 slides from Gevo's investor presentation, Jun 17, 2019
Slide 1: Company Overview
Company Overview Patrick Gruber, 19
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS ‘Any statements in this presentation about our future expectations, plans, outlook and prospects, and other statements containing the words “believes,” “anticipates,” “plans,” “estimates,” “expects,” “intends,” “may” and similar expressions, constitute forward-looking stat
Slide 3: Gevo Technology & Products Address the Need for Low Carbon Fuels
GEVO TECHNOLOGY & PRODUCTS ADDRESS THE NEED FOR LOW CARBON FUELS Raw Materials Ethanol/sobutanol Isobutanol to Jet Fuel and Plant Tsooctane Plant ain ag eevennes low-carbon, renewable, High Performance Oxygenate (Migh:performance furl products: Blendstocks for Gasoline Fully Renewable Isooctane (Eth
Slide 4: Enormous Market Potential
ENORMOUS MARKET POTENTIAL Mainstream markets of billions of $ Via enewable Suylene IE Isobutano! (184) Il) 18A-derived "Drop in” Hydrocarbons aK a gevo Via enevable Jet Fiat Via renewable pene ‘Vi renewable Scoctane
Slide 5: Summary
SUMMARY Business Overview + ean Eoleood Od + Employees: 60 (20in Colorado, 30a Mines, . how) for nie empeene peers Proven Technologies + Produces: Ethanol, 1BA, Jet Fuel, Isooctane, Feed, Corn Oil End Markets Served Ethanol + Animal Feed, protein, and com oi + Renewable jet fuel ge 28 aehte 338 ae a
Slide 6: Other Relevant Information
OTHER RELEVANT INFORMATION + Cash (03/31/2019): + Warrants — $35 Million — 55,969 Warrants outstanding + Debt (3/31/2019): + 4,176 @ $3.80/share strike price — 2020 Notes (Whitebox): $13.9 million principal + 14,088 @ $40.00/share strike price + Common Shares (3/31/2019): + 37,705 @ >$50/share strik
Slide 7: Strategy
STRATEGY Focus: Defossilized liquid transportation fuels + Exploit low Carbon Intensity (CI) ethanol to generate cash and develop low carbon infrastructure + Sell low CI ethanol to California (CA) market where value of carbon is accepted Offset electricity with wind Establish a supply of RNG from ma
Slide 8: Driving the CI Score Down
DRIVING THE CI SCORE DOWN We are planning to use wind electricity and manure current ve. Fesdeock biogas, both accepted in CA = ont wl lm 4 Gime ahs CI Target from initial deployment of wind and biogas °° % to be driven to neg more biogas, or i i i ‘carbon with, The cI documentation) gevo
Slide 9: Low Carbon Cycle
LOW CARBON CYCLE SUSTAINABLE CORN Dalry, Beet, Poultry & Pigs to Food, gevo’ =
Slide 10: Cellulosic Feedstocks Are Possible
Slide 11: Driving to Profitability—Part 1
DRIVING TO PROFITABILITY—PART 1 > & >: ht rt iPro gps Bron Feed 7 s ¢ “— DGS Feed LS MGPY ~S00KGRY ~500;GPY ~20225 MGPY tOH +100 Mion ibs. ye Jet Fuel Tsooctane
Slide 12: Build Out Large Scale IBA and Hydrocarbons (Jet and Isooctane)
PART 2 BUILD OUT LARGE SCALE IBA AND HYDROCARBONS (JET AND ISOOCTANE) Wind Electricity and Combined Heat and Power (CHP) (In Development) 10-12 MGPY Hydrocarbon Plant ‘Anaerobic Digestion New IBA Fermenters Biogas from Gevo Energy 1 MGPY Hydrocarbon Plant (In Development) (In Development) Shockwave
Slide 13: Making Money with Gevo Products—Specialty Markets First
MAKING MONEY WITH GEVO PRODUCTS—SPECIALTY MARKETS FIRST We are initially targeting markets where technical value shines By delivering technical properties ha oveleed. In some cases, Gevo can simply win on price... Technical Value Isooctane and IBA fit this profile gevo
Slide 14: We Can Be Cost Competitive with Commodity Petro-Based Fuels
WE CAN BE COST COMPETITIVE WITH COMMODITY PETRO-BASED FUELS RINS + Carbon value is more reliable ee because of the Low Carbon Fuel (Other Standard (LCFS) and EU RED policies Potential debt providers have indicated that they are more comfortable with ongoing value of carbon + We have contracted about
Slide 15: Low Carbon Fuels Are Expected Cross Over in Net Price
LOW CARBON FUELS ARE EXPECTED CROSS OVER IN NET PRICE At this point, licensing of our technology is expected to accelerate Price Potential Renewable Hydrocarbon Fuel Net Price* Time gevo
Slide 16: Licensing Has Just Begun
LICENSING HAS JUST BEGUN BUILD OUT STRATEGIES * Sey Sie ere Feity valet the mate! of EERE :obvtano\/ethana co-roduct TMM «Corres esto comply rote an vantom underperforming ethanol plants Greenfields/ Brownfields ” er than Luverne, [NORTH AMERICAN MARKET ‘Blended business model eensng meet Feat forml
Slide 17: How to defossilize, finance, and build out the business
Slide 18: Potential Corporate Structure and Financing
POTENTIAL CORPORATE STRUCTURE AND FINANCING er ee —_—_—_—_— 1MGPY Hydi on Investment in Gevo Energy and other Up to $9M RNG Offtaker : Step 1b LOI in place for ISDA Loar 2: Build of Luverne Facility Anticipated to be pi financed.
Slide 19: A 1MGPY Hydrocarbon Plant at Luverne Makes Good Business Sense
A 1MGPY HYDROCARBON PLANT AT LUVERNE MAKES GOOD BUSINESS SENSE Potential investment gives strong returns, doesn’t depend on carbon value + Addresses the short- and near-term demand for isooctane for racing and packaged fuels, as well as biojet for business aviation (we could sell more if we had more
Slide 20: Gevo Energy, a Subsidiary of Gevo
GEVO ENERGY, A SUBSIDIARY OF GEVO Purpose: Gevo is in the process of forming Gevo Energy, LLC to develop renewable natural gas for the use at the Luverne Facility and for selling to the pipeline + Gevo's Luverne Facility is uniquely situated in a region rich in dairy and cattle farming with approxim
Slide 21: Gevo Energy: Using Dairy, and Later, Beef to Make Renewable Natural Gas
GEVO ENERGY: USING DAIRY, AND LATER, BEEF TO MAKE RENEWABLE NATURAL GAS (RNG) Potential Manure Blogs e..
Slide 22: Markets and Products
MARKETS AND PRODUCTS
Slide 23: The Aviation Industry Has an Opportunity... and a Problem
THE AVIATION INDUSTRY HAS AN OPPORTUNITY... a. ee s AND A PROBLEM ‘ets Will No Longer Get a Free Ride on Carbon Enisions oo They are expecting to experience strong growt But, they have promised to hold GHG emissions sat from 2020 onward World Jet Fuel Demand ‘Year over Year Projected Jet Fuel Demand
Slide 24: Products Work, We Are Building Experience
PRODUCTS WORK, WE ARE BUILDING EXPERIENCE aX smeccuatamen FLY GREEN Fueled by Gevo @ Lufthansa aanas oe . Cx % CIRRUS xinoenfuoncay UTEP cr : World lata) mad seinnys xonewvarn SF 2irbp wie *%, Somarncnc El CHICAGO O'HARE. VAN NUYS FOP aucenstand covemment we B imac Bp cautex VIVA @ g FRAMINGDALE LE
Slide 25: We Intend to Replace the Whole Gallon of Gasoline
WE INTEND TO REPLACE THE “WHOLE GALLON” OF GASOLINE Isooctane % gevo + Key ingredient. Tt works; we are making it and selling it Certificate of Analysis + Small engine, packaged fuels, engine OEM and racing + Low carbon and clean (low sulfur, low aromatics, low olefins) 2 Hattermann 20 Girtese Wie c
Slide 26: Isooctane in Performance Fuels
ISOOCTANE IN PERFORMANCE FUELS Start with high value niche Haltermann (z 20 Cart less
Slide 27: Isobutanol as a Gasoline Blendstock
ISOBUTANOL AS A GASOLINE BLENDSTOCK Isobutanol delivers better ‘ies than other alcohol + Higher energy (potential for more miles per gallon) + Less corrosivity (less wear and tear on certain types of engines) Ethanol Free Gasoline in Houston Ethanol Free: ~7BGPY* Market Size: ~140 BGPY* Focus is to
Slide 28: Key Deals
KEY DEALS Low CI Ethanol + Eco-Energy — Markets and Distributes Gevo ethanol Isooctane (for renewable gasoline) + Haltermann Carless — Long-Term supply agreement for renewable isooctane worth up to $180 milion signed for capacity from demo plant and ful scale plant = Developing EU market — Multi-bil
Slide 29: Business Summary
BUSINESS SUMMARY The Problem: + Fossil fuels emit fossil greenhouse gasses (GHGs) + Companies want to mitigate liability + Governments want to reduce GHG emissions + Consumer's care about pollution and want GHGs addressed The Solution: + "Decarbonize.” Lower the carbon footprint of fuels by replacin
Slide 30: Thank You
Thank You