swedish biofuels patented process produces jet a-1 from

Swedish Biofuels AB Proprietary Information cannot be changed or modified

Professor Angelica HullAngelica.Hull@swedishbiofuels.se

Designation Characteristic Standard

SB Gasoline Ron 95 / Mon 92 EN 228

SB Diesel High cetane indexZero sulphur

EN 590

SB Jet fuel Jet A-1 ASTM D7566

Swedish Biofuels patented process

produces Jet A-1 from ethanol

Ethanol

Jet A-1

SB Jet A-1

Airline range

Biobased Content100%

Fossil Content 0%

Data on Swedish Biofuels fuel producedby Wright-Patterson USAF

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Swedish Biofuels AB Proprietary Information cannot be changed or modified

Professor Angelica HullAngelica.Hull@swedishbiofuels.se

Project opportunities

CustomizedCatalysts

ControlledChemicalSynthesis

Woodresidue

CO2 +Lignin

SyngasSyngas

Jet fuel Diesel Gasoline

3

1

2

3

1

2

Dedicated plant with ethanol as the feedstock.

Integration with existing ethanol plant with option of using ethanol, CO2 and lignin as feedstocks.

Integration with existing ethanol plant with option of using ethanol and wood residues as feedstocks.

Flexible regarding the grade of ethanol

Fuel composition adjustable to any standard

Targeted production of chemicals possible

EPC turnkey delivery

Performance warranty

Ethanol

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Swedish Biofuels AB Proprietary Information cannot be changed or modified

Professor Angelica HullAngelica.Hull@swedishbiofuels.se

Financial parameters Plant 1 Plant 2

Total investment, € million 49 399

Feedstock:

Ethanol, t/y 31,000 150,000

Biogas, t/y 5,250

Wood, t/y 750,000

Annual production capacity, t/y: Gasoline, JetFuel, Diesel

20,500 200,000

Total equity, € 20.4% 25.0%

Debt, % 79.6% 75.0%

Debt interest rate, % 6.0% 5.0%

Total debt, € million 39 299

Equity IRR, % 31.5% 20.2%

EBITA, € million 6.7 44.7

EBITA margin 15% 15%

Total Cost of Goods Sold, € million (COGS)

-36.8 -246

Total revenue, € million 43.6 291

Depreciation and amortization, € million (12 years)

-4.1 -30

Tax rate, % 26% 26%

• Business cases developed within EU funded project

• Calculation assumes plant built in Sweden