presentation ptfq42016v1 2 1external jkl-4 (1)
TRANSCRIPT
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NEWCO-Joint Venture Modelorganisation
PTFPlusOne Ltd/SPV
Newco
General Partner
PTF-Production
Refinery
lean structure
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Synergies
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PTF People
Executive
• Nina Gallois CEO (LU/CH) ZFS AG/CPW PlC
• Jelmer Klaassen COO (NL) Government/ABNAmro/Engineering Delft
• Rick Graves (Houston, US) Chevron
Non-executive
• Prof. Helyette Geman (UK) Commodities/Trading oversight (Johns Hopkins, Birkbeck)
• Annemie Turtelboom (BE) Former 1st.Minister Finance/Justice/Energy Belgium 2015
• Rudy Goetzee (NL) Shell/Reliant
• J Stack (Ireland) Celtic Shipping
Shareholders/Significant ControlGallois/Lherault/Courtney
12-5-2014
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Business case
Newco/Joint Venture
• PTF existing revenues from traditional refining/BAU activities
• Investment planned into further plant 2016/17
• Standalone LSMGO/ISO 8217 Production: adding 32 Mio p/a ebitda in full steady state production- max 1, plus 1 further planned (Ireland, UK, Germany)
• Outright licensing of further LSMGO Plants- max 4 EU/CIS
• Revenue sharing with licensees: max 2 (of 4), inc. OEM manufacturer(s)
• Partnering with chemical recycling companies: Glyeco, DSM, Haltermann
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PTF process: Raw material trading and re-processing
hydrocarbons/oil
Consumerphase as nondurable goods
hydrocarbons
Collection/recovery
ProcessingPTF
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Partnering
• Ince & Co- Maritime Legal/Mason Hayes & Curran- General Counsel
• Technip SA- Oil&Gas- Plant Engineering/Procurement/ Construction (EPCm)
• Steinbeis Institute - Wax and Paraffin off-set
• Ettrickhall UK- Waste acquisition for PTF
• Marsh Rotterdam-Underwriting/Insurance/CAR/LoR
• Corelab- Test reference /PTF Petroleum Refinery Process and Distillation Recovery
• Jiskoot- Maritime Fuel Testing and Certification
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PTFOne: Legislation-driven since 2011: “Sulphur Emission Controlled Areas”
Source: http://ec.europa.eu/transport/modes/maritime/events/doc/2011_06_01_stakeholder-event/item2.pdf
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Enforcement due in 2015-2020
With 0.1% sulphur fuel becoming mandatory across North European and Baltic waters in 2015 enforcement will be a key factor says fuel tester Veritas Petroleum Services (VPS).Echoing the concerns of shipowners such as those behind the Trident Alliance Eirik Andreassen, managing director of VPS (formerly DNVPS) said: “Enforcement is one the key areas going forward.” He noted that, “Some shipowners are very concerned about consistent enforcement.”
Source: http://www.seatrade-global.com/news/americas/enforcement-key-factor-in-01-sulphur-cap-in-europe-vps.html
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Process(es): “Plastic “ to “fuel”
PTFOne operates:
- Polymeric cracking by catalytic conversion, also suitable for higher levels of contamination-waste into fuel through replaceable catalyst-cartridges
- Catalytic depolymerisation process for plastic conversion to fuel
- Rotary drum gasification system incl. gas cleaning for processing by-products and production of E-power and thermal energy
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Process general PFD part 1
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Process general PFD part 2
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End of Life processing
The conversion efficiency to fuel depends on the specification of the input material
Graph: Typical yield of different types of input
100% 80% less % low %0%
20%
40%
60%
80%
100%
Typical yield examples
HC content
Yiel
d
clean plastic
polluted plastic RDF tires
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End of Life Plastic processing
EOL plastics from:
- HH Collecting system
- Agri
- Production waste
- Landfill mining
Pre-
trea
tmen
t-
Shre
dder
-Se
para
tion
Catalytic Depolymerisation,
Thermal Cracking plus catalytic conversion
Gasification plus energy production
Prod
uct
-LS
MGO
PlasticsBy-productsProduct: Fuel
By-productsE + Th. energy
In to process
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Sankey flow diagram @ 200 kTon/yr input
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Sankey flow diagram @ 400 kTon/yr input
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Plastic: quantities in EU
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Available financing
For the realization of a 200 KT plant in the EU/Ireland:-PTFPlusOne Ltd/SPV. : (€ 8 MM paid up capital)/€ 150 MM in equity and 110M debt finance available
Parameters8 PTF plants (=24 lines per location) to 66% yield to hydrocarbons 198,000 ton / yr =138,847,500 ltr/yr (including infeed acquisition costs)
Ebitda € 32MM per annum (on basis of combined PTF processes, inc. gasefication units) Development period: 10 months lead-time plus re-engineering=> 14 months to full steady state (while build and test are mutually phased per modular plant)
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PTF: risk management approach
It is PTF’ s approach to manage operational and financial risk by way of redundancy and replication.
Redundancy and Replication integrated into design and operational process- 2 parallel fuel processing techniques for an increased range of input materials.- Additional gasifier for processing by-products into energy.
Full outsource EPCm and Turnkey delivery (and revenue assurance) of Plant by Technip SA- Minimum scaling of techniques/equipment assuring realistic capacity per unit/line
- Replication of independent lines to raise capacity as opposed to scaling individual equipment and resulting in revenues in an early stage and no maintenance stops
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UK/Ireland: implementation 1/2
Location:- requirements- Dow process accredited- Traditional (medium scale) refinery capacity in fss operation/processing plant- Accessible by road, rail, sea- Storage- Human resources and loyal trained workforce
Synergistic opportunity: - Utilities as power, water, gas
- Waste water treatment- Energy- Reduced production costs refinery- Contract blending and testing
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UK/Ireland: implementationsynergies contd. 2/2
-Exchange of energy- reduced capital req’s due to full integration- reduction of intake of crude by up to 7%- high-value HC special skillsets available through
refinery existing personnel- re- optimisation of surplus utilities at refinery- combined chemical and laboratory facilities- refinery human resources extended to PTF- corporate overhead dilution - joint-marketing- strategic investment geographically and
economically
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