Webinar Presentation Opportunities and Risks for an Engineering Company in the Bioeconomie 16th March 2015 ThyssenKrupp Industrial Solutions Agenda 1 Short Presentation of TKIS-PT 2 Talking about the challenge to get biobased Processes and Plastics into the market 3 First Conclusions of an Engineering Company Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 2 ThyssenKrupp Industrial Solutions ThyssenKrupp Industrial Solutions AG Business Structure Business Area Business Unit ThyssenKrupp Industrial Solutions Marine Systems Submarines Surface Vessels Services Process Technologies ResourceTechnologies Fertilizer/ Coke Plant Technologies Mining Assembly Systems Cement Car Body Technology Services Lightweight Solutions Chemicals/Oil & Gas Services Forming Dies Implementation Regionale Deutschland Singapur Organisationen Australien Kanada Katar Testing Solutions I Europe/CIS IIAmericas VMENA III India Asia Pacific VISub-Saharan Africa Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 3 System Engineering ThyssenKrupp Industrial Solutions Deutschland Frankreich GB Italien Spanien USA Mexiko Brasilien Indien China Russland ThyssenKrupp Industrial Solutions – Biotechnologies Division Facts and Figures of the Leuna Branch Location 2007 – 2012 Leipzig since 08/2012 Leuna Staff TKIS 20 / TKUES 33 R&D Expenses > 8 Mio €/a Facilities Laboratory (Fermentation, Analytics) Technikum (250 L) Multi-Purpose Facility (85.000 L) View into the Multi-Purpose Plant Leuna. The plant has a capacity of >700 t/a for Organic Acids via fermentation. Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 4 Products Biobased Monomeres, Drop-In- & Platform Chemicals Model Technology Development & Commerzialisation of License - & EPCBusiness Own Development + Development for 3rd Parties ThyssenKrupp Industrial Solutions ThyssenKrupp Industrial Solutions – Biotechnologies Division Fields of Operation 1 Own Processes for biobased bulk chemicals + derivates • Technology / Licenses • Engineering (EPC) • Technology and Plant (Process Wrap incl. Guarantees) 2 3rd Partie Processes in the area of biobased Chemicals • Scale-Up Orders from Technology Start-ups (Technikum and Multi Purpose Facility) • Production of Samples in industrial scale • Engineering Services Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 5 ThyssenKrupp Industrial Solutions 13 compounds were identified as most attractive for TKIS Maturity/ development status Market size / growth Equipment market Long list of 113 chemicals 13 most attractive compounds 113 113 113 25 13 High 12 Low 101 88 88 45 12 Long-list Source:McKinsey Technical feasibility Time to market Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 6 Market growth Resulting most attactive compounds 113 68 113 2011 Ability to differentiate ▪ Succinic acid & derivatives ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ (particularly 1,4 butanediol) Lactic acid & derivatives (e.g., PLA) 2nd generation ethanol Ethanol derivatives (ethylene, ethylene glycole, ethylene oxide) Acrylic acid (via 3-HPA) 2,5 FDCA (for PEF, a PET substitute) Isobutanol N-Butanol Propylene Furfural ThyssenKrupp Industrial Solutions Biopolymers with potential and hurdles – Drop-in chemicals to be further analyzed A. Biopolymers: e.g. LA/PLA Application of PLA not widely accepted (physical properties vs price) Rather high market entry barriers Market potential generally seen as supplemental opportunity – no stand-alone business B. Action List Drop-in chemicals Value chain less complex than in Polymer business (downstream established) Mass production market with overall growth Applications already existing – bio-route could be a new alternative, but needs to be proved Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 7 LA/PLA: Brand owner talks to define application specifications Drop-in chemicals: market estimation for promising and relevant drop-in chemicals ThyssenKrupp Industrial Solutions A. (Bio-)Polymers Still rather high entry barriers for all players Conventional Value Chain Comparison Conventional vs. Bio-Polymer Conventional – long-term proven and fully established Feedstock (oil & gas based) Example Ethan - Chemical Conversion (typically multiple steps) - Ethylen Application Technology Consumer Market Film - Packaging - Polyethylen (Chips) TKIS scope Biotechnology Know-how initially built up through expertise in operation, applications and engineering: – Polyolefines, Vinyl: Hoechst AG – Polyesters, Polyamide: EMS Chemie Due to established processes (>50 yrs) focus on single step in value chain possible Competitors act with identical limitations Know-how to be newly established over most steps of value chain – far beyond core TK expertise Currently value chain not yet fully established – end application of PLA not widely accepted (e.g. food vs. polymers) Biotechnology – to be newly established and to be proven in detail Feedstock (bio-based) Example Sugar - Conversion by Bioprocess - LA Chemical Conversion Application Technology - DLA – PLA (Chips) - Film New TKIS scope (going far beyond core expertise) Consumer Market - Packaging Typical barriers between players – each player with its own issues Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 8 ThyssenKrupp Industrial Solutions A. (Bio-)Polymers LA/PLA Market only stimulated as soon as Brand Owners define Application Specs and Demand Material Supplies barrier Sugar/starch barrier Lactic Acid Compounding PLA barrier Manufacturer Brand owner (JV Cargill & PTTGC) Operators2 (JV of Potential operators tbd (e.g. 2 ) ) Small 3rd party producers Plant engin 1 Support Teaming / Partnering Request polymer grade for required applications ! Define specs for bio-products Brand owner talks to be intensified to gather requirements and demands – similar process with MTR technology in the past (e.g. PET chips Coca-Cola) 1. Sulzer plant engineering for smaller PLA producers from Lactide Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 9 2. Only production of LA and Lactide due to patents/contracts; Corbion invest in PLA plant; when off-takes agreement signed ThyssenKrupp Industrial Solutions B. Drop-in Chemicals Drop-in Chemicals Promising Applications to Drive Biotechnologies? Key Characteristics of Drop-in Chemicals (bio-based Organic Chemicals) Value Chain Key Characteristics of Drop-in Chemicals 1 (Bio-)Polymers Applications already existing – bio-route as new alternative Value Chain less complex than in Polymer business (downstream established) Mass production market with overall growth (e.g. PLA) Polycondensation: projects by UIF/BT Biotechnologies (e.g. LA, SAC, …) 2 Drop-in chemicals (e.g. BDO, Acrylic Acid) Fermentation, Separation and Purification Main focus on R&D/ process technology Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 10 Chemical conversion: projects by OP/BT ThyssenKrupp Industrial Solutions Conclusions for TKIS (1st draft) (path forward) 1 Biopolymers • Development not w/o final customer (brand owner) • Teaming up along the value chain • Political support for use of biodegradable plastics desirable (esp. with low oil prices) 2 Drop-In Chemicals (bulk) • Sales price >1.400 €/t (e.g. Acrylic Acid) • High Carbon Efficiency (anaerobic processes) • Deep Integration of Chemical Conversion into Fermentation Process (e.g. BDO) • Large (fragmented) markets with capacity >1.000.000 t/a and growth rate >8% Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 11 ThyssenKrupp Industrial Solutions Conclusions for TKIS (1st draft) (path forward) 3 4 Drop-In Chemicals (speciality or niches) • Sales Price >4.000 €/t (e.g. DDDA, Sebacic Acid) • At least 2 plants >30.000 t/a The „Dont‘s“ for TKIS • It‘s a „big boys game“, dont team up with investment or development companies which are not from the same stable • Dont touch BioChems which are not not already on the market (but may have interesting characteristics e.g. Itaconic Acid, 2,3 BDO). Time for market development and penetration is too long • Dont touch BioChems with low carbon efficiency Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 12 ThyssenKrupp Industrial Solutions Danke für Ihre Aufmerksamkeit. Nachwachsende Rohstoffe für die chemische Industrie Joachim Schulze 20.02.2015 13 ThyssenKrupp Industrial Solutions
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