We believe that plants using our production processes will offer three primary economic advantages compared to plants using petroleum feedstocks:

•  lower capital costs per pound of production capacity;
•  lower operating costs per pound of output; and
•  the ability to cost-effectively build and operate plants at a smaller scale.

Our processes are also designed to deliver enhanced sustainability and a reduced environmental footprint versus conventional approaches.

We believe our first manufacturing process, GENO BDO™, will be economically advantaged in commercial production compared to petroleum-based processes, based on performance achieved in our 2012 commercial-scale production campaign. For BDO, our initial process uses conventional sugars, such as sucrose from sugarcane or sugar beets, and dextrose from corn or cassava. We expect our economic advantage to continue to improve as a result of process improvements and our anticipated ability to harness other renewable feedstocks with the potential for even lower costs, such as sugars from cellulosic biomass or C1-derived feedstocks.