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Carbon Negative Power Plants & Their Impact on the Environment

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Graciela Chichilnisky
Graciela Chichilnisky

Global Thermostat has developed a carbon capture technology called Global Thermostat Direct Air Capture (GT-DAC) that can capture CO2 directly from ambient air at an industrial scale. The technology uses modular units that selectively capture CO2 using amine-coated structures, then release pure CO2 through low-temperature regeneration. GT has operated pilot and commercial demonstration plants since 2010 and is now constructing its first commercial GT-DAC plant in Huntsville, Alabama to supply CO2 to a major beverage company. The technology addresses the large unmet demand for CO2 by providing an unlimited, low-cost supply that can be located anywhere without the constraints of transportation.

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1 Graciela Chichilnisky CEO & Co-Founder Earth Dialogues Puerto Madryn, Argentina October 23, 2018
Carbon Negative Powerplants can Transform US $53 Trillion global power plant infrastructure from emitters to sinks for CO2 Cleaning the Atmosphere While Producing Electricity Breakthrough CONFIDENTIAL 2
Global Thermostat Positive Business Impact while Reversing Climate Change Meeting Requirements of Byrd-Hagel Law 1997 3 • New Jobs • Expanding Exports • Economic Progress CONFIDENTIAL 3
4 2018: Moving Ahead at Breakthrough Speed ..Huge demand for CO2 unmet..1 ..Due to three critical issues.. Limited, Stranded Supply: Natural subterranean reserves are limited. Supply is depleting and geo- specific. Other sources are inadequate High Capture Costs: Competing carbon capture methods prohibitively expensive Difficult to Transport: CO2 is difficult to transport economically. Trucking and pipelines require significant capital investment for an inefficient process Industrial Markets: Over $1tn, including: Food & Beverages, Enhanced Oil Recovery, Refrigeration & Greenhouses, Carbonates, Concrete/Cement, Polymers, Graphene, Crop Improvement Oil & Gas: Enhanced Oil Recovery (EOR), Clean up of Natural Gas Processing Renewable Fuels: Algae Biofuels, Synthetic Gasoline 1. Appendix: CO2 – A MARKET FLOODED BY DEMAND GT’s Competitive Advantage vs. Existing Supply CONFIDENTIAL
ENORMOUS UNMET DEMAND FOR CO2 GT’s Competitive Advantage vs. Existing Supply Huge demand for CO2 unmet.. Industrial Markets Food & Beverages, Refrigeration & Greenhouses, Carbonates, Concrete/Cement, Polymers, Crop Improvement Emerging Technologies Bio-plastics, Graphene, Carbon Fibers Renewable Fuels Algae Biofuels, Synthetic Gasoline ..due to three critical issues.. Limited, Stranded Supply Natural subterranean reserves are limited. Supply is depleting and geo-specific. Other sources are inadequate High Capture Costs Competing carbon capture methods prohibitively expensive Difficult to Transport CO is difficult to transport2 economically. Trucking and pipelines require significant capital investment for an inefficient process .. GT addresses these issues .. GT provides an unlimited supply of CO2 .. GT captures CO2 at a fraction of the cost of traditional sources from flue gas or ambient air .. GT offers modular, “plug and play” units that can be located anywhere For the first time in human history abundant, low cost CO2 is available anywhere, anytime. CONFIDENTIAL 5
6 CONFIDENTIAL
7 GT HISTORICAL TIMELINE 2016201520132010 Incubation Key author of the Kyoto protocol establishes Global Thermostat (GT) with leading researchers from Princeton, Harvard, Columbia and Stanford Universities Capitalization Through 2015, GT successfully raises an aggregate of $29.5 million anchored by Edgar Bronfman, NRG, and Vice Media Technology Validation GT collaborates with industry leaders Corning, Linde, NRG Haldor Topsoe, and BASF. Achieves 32 patents to date, protected in 147 countries. GT proprietary modules achieve an unprecedented competitive advantage with industry-leading margins Partnerships GT proliferates the global CO2 value chain with key partnerships including NRG, Georgia Tech, Corning, SRI, and Linde as strategic partners Commercialization & Scale Up Deployment GT starts exploring commercial contracts to address market demand Pilot Demo Plant Commercial Demo Plant 2017 Funding and Commercial Construction GT successfully closes investment round of $20 million bringing the aggregate amount of funding to $42 million. GT starts building first commercial plant for major carbonated beverage producer First GT Commercial Plant (4,000/ TPY) Completed at Huntsville, AL For Global leading provider of carbonated beverages and production of bio- degradable plastics 2018 Commercial Plant CONFIDENTIAL
8 COMMERCIAL VALUE PROPOSITION Lowest Cost We produce CO2 below $50 per metric tonne. Energy provided by low cost residual low temperature heat (85° C) rather than electricity The modularity of our plants keeps CapEx deployment in line with demand and utilization Our Direct Air Capture technology nearly eliminates prohibitive distribution costs in the C02 industry. A major and unprecedented CO2 market disruptor Most Scalable No Transportation Carbon Negative Addresses long-term environmental and economic issues Reliable, lowest cost CO2 available anytime, anywhere in the world CONFIDENTIAL
9 HOW IT WORKS Our proprietary Cyclic Adsorptive CO2 Capture method selectively captures high-purity CO2 from free air at any location. The process also conserves energy in an efficient heat cycle 2 Step 2: Carbon Capture Monoliths coated with GT’s proprietary aminopolymer sorbent selectively bind CO2 from the air Step 4: Heat Transfer Two regeneration chambers operating 50% out of phase transfer heat back and forth to reduce sensible heat requirement by half 4 Step 3: Regeneration Pure CO2 is released by 85° - 90°C steam and the sorbent is regenerated 3 Step 1: Air Input Zero cost feedstock, carbon directly from the air, is accessible anywhere in the world 1 CONFIDENTIAL
10 2010: 1st PILOT GT PLANT Captures CO2 directly from air SRI International (formerly Stanford Research Institute), 333 Ravenswood Avenue, Menlo Park, CA 94025 CONFIDENTIAL
11 2013 COMMERCIAL GT DEMO PLANT at SRI Captures CO2 from SRI fossil fuel power plant and also directly from air [GT achieves US DoD/DoE Technology Readiness Level-8 (TR8)] 333 Ravenswood Avenue, Menlo Park, CA 94025 CONFIDENTIAL
12 2018 GT COMMERCIAL PLANT in Huntsville, Alabama
13 2018 GT COMMERCIAL PLANT in Huntsville, Alabama First GT Commercial Plant (4,000/ TPY) Huntsville, Alabama Full-scale GT-DAC 18m tall, 50m long, 6m wide 50,000 tonnes CO2 / year Containerized GT-Carburetor 40’ ISO container 10,000 tonnes CO2 / year Conceptual design for Containerized Carburetor is complete. Next step is detailed engineering. Basic design for Full-scale modules completed with NRG and Sargent & Lundy. Next step is detailed engineering. CONFIDENTIAL
14 Biofertilizers >$205m/yr Existing market Industrial Gases >$4.8bn/yr Existing market Food & Beverage >$1.3bn/yr Existing market Building Materials >$340m/yr Existing market Synthetic Fuels >$135m/yr Existing market >$70m/yr Existing market 3% 71% 18% 5% 2% 1% GLOBAL THERMOSTAT: INITIAL MARKET VERTICALS $6.7 billion annual CO2 market in initial target segments Seawater Desalination CONFIDENTIAL
15 LEADERSHIP Dr. Graciela Chichilnisky CEO & Cofounder Dr. Peter Eisenberger CTO & Cofounder Edgar Bronfman, Jr. Executive Chairman •World leading economist and mathematician •Two PhD’s: Math, MIT; Economics, Berkeley •Successful Entrepreneur: Founded & sold financial services tech companies FITEL, and Cross Border Exchange •Authored Kyoto Protocol carbon market •Tenured Professor at Columbia University, previously at Harvard and Stanford •2015 “CEO of the Year” Selected by IAIR, Yale Club NY April 2015 •Leader and technology innovator in global energy industry and CO2 capture •20+ year career including global R&D head at Exxon and lead scientist at Bell Labs •Tenured professor, former Vice Provost at Columbia University •Founding Director Columbia University Earth Institute •Founding Director Princeton University Materials Institute •Chairman, Endeavor Global •General Partner at Accretive LLC •Former Chairman and CEO of the Warner Music Group •Recently successfully sold Warner for US$3.3 billion •Former President and CEO of the Seagram Company CONFIDENTIAL
16 GT AWARDS “World’s Top-10 Most Innovative Company in Energy” – Fast Company, April 2015 “2015 CEO of The Year: Graciela Chichilnisky” – Yale Club of New York City IAIR Award, April 2015 “2016 Top 50 Most Innovative Company in Renewable Energy” – Company Energy, May 2016 “Finalist and $250k Grant Winner” – NYSERDA, June 2016 “World's Top 50 Innovators from the Industries of the Future: Graciela Chichilnisky ” – Codex, July 2017 “The Companies with Most Disruptive Innovation” - Insights Success, 2018 “The 30 Most Innovative Companies to Watch 2018” – Insights Success Magazine, March 2018 CONFIDENTIAL
17CONFIDENTIAL Graciela Chichilnisky , c: +1.646.623.3333 +1.212.678.1148 | www.globalthermostat.com OFFICES New York 660 Madison Avenue, Suite 1215 New York, NY 10065 LABORATORIES Atlanta Advanced Technology Development Center Georgia Institute of Technology 311 Ferst Dr NW Atlanta, GA 30332 Silicon Valley SRI (formerly Stanford Research Institute) 333 Ravenswood Ave Menlo Park, CA 94025 Contact
18 TECHNOLOGY CONFIDENTIAL
Technology Operation Step 1: Air Input • GT uses monolith contactors like those in a tailpipe catalytic converter • Contactors provide high surface contact areas at low pressure drop • Enables movement of large air volumes with effective contact of CO2 at low cost Step 2: Carbon Capture • GT sorbents proven highly effective by Georgia Tech - confirmed by SRI, BASF, Corning, and DN Veritas • Process to deposit immobilized amines in pores of the contactor walls at high loading by Corning, Haldor Topsoe, Applied Catalysts Step 3: Regeneration • CO2-rich sorbent is heated with low-temperature process heat steam (95°C) • CO2 is collected and sorbent is regenerated (thermal and sweep gas cycle) • CO2 can be stored or used in multiple commercial applications • 16 minute cycle per panel for ambient air Step 4: Heat Transfer • Neighboring module has completed Step 2, and enters its regeneration box • That box is evacuated, and connected to the hot box from which CO2 was just removed • Water evaporates from hot monoliths (cooling them) and condenses on cool monoliths, warming them • This sharing provides 50% of the heat for the cool monoliths GT Module Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent “Cartridge” 95° Steam CO2 Collection GT Module Adsorption Phase Regeneration Phase Ambient Air Monolith Contactors + Sorbent “Cartridge” ` GT Module Adsorption Phase Regeneration Phase Ambient Air Monolith Contactors + Sorbent “Cartridge” GT Module Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent “Cartridge” Evacuated steam from hot box to neighboring box/module 19 19CONFIDENTIAL
20 GT Technology Breakthroughs Contactor Efficiency • GT modeled different types of contactors, finding honeycomb monoliths significantly outperform all others on a {Surface Area} / {Pressure Drop} / {$} basis • Channels parallel to the direction of flow minimize pressure drop while maximizing contact area • Impingement of CO2 onto active material orthogonal to flow Regeneration Efficiency & Heat Recovery • Using steam as sweep gas in addition to heat transfer fluid reduces regeneration temperature to as low as 75C • Evolved CO2 is rapidly swept away from the surface, depressing the effective PCO2 experienced by the desorbing media • Sensible heat is recycled by coupling two regeneration boxes in opposite phase • 50% reduction in sensible heat requirement by preheating a full canister by evaporatively cooling an empty canister Generational Improvement of Adsorption Media • Fixed dimension of individual monoliths within a canister allow for direct replacement with new materials with improved performance • No change in plant components necessary 20CONFIDENTIAL
Global Thermostat Module Embodiments & Capacities 1. Diluted Flue Gas Capture (GT-Carb) • CO2 captured from flue gas of fossil fuel power plant • Electricity, flue gas, and heat integration with power plant • Capable of high levels of flue stream decarbonization 2. Direct Air Capture (GT-DAC) • CO2 captured directly from the atmosphere at 400 ppm • Heat integration capability with nearby manufacturing or downstream processes • No power plant proximity requirement or flue gas retrofit • Remote CO2 capture possible if integrated with available on-site energy 3. Standalone Integrated CO2 Capture (GT Self-Carb) • On-site nat. gas CoGen plant provides total heat and power needs for CO2 capture and delivery, • CO2 emissions from CoGen flue gas captured by GT-Carb modules, remaining heat and electricity used to power GT-DAC modules • Ideal for larger applications in remote locations without co-located heat Commercial Module Capacities to Scale with Demand: 21 Containerized Module Full-scale Module GT-DAC 1,000 – 4,000 MT/y 50,000 MT/y GT-Carb 10,000 MT/y 100,000 MT/y 21CONFIDENTIAL
22 Status of Other GT Embodiment Designs Self Carburetor- Local Power Source CO2 + DAC Full-scale GT-DAC 18m tall, 50m long, 6m wide 50,000 tonnes CO2 / year Containerized GT-Carburetor 40’ ISO container 10,000 tonnes CO2 / year Full-scale GT-Carburetor 18m tall, 17m long, 20m wide 100,000 tonnes CO2 / year Basic design for Full-scale modules completed with NRG and Sargent & Lundy. Next step is detailed engineering. Conceptual design for Containerized Carburetor is complete. Next step is detailed engineering. 22CONFIDENTIAL
23 Global Thermostat Containerized DAC Module For Global leading provider of carbonated beverages Under Construction Now in Huntsville, AL USA Expecting: Fall 2018 Mechanical Completion Containerized GT-DAC Fall 2018 Continuous Operation 2 standard 40-ft. ISO containers + 1 auxiliary container Nominal 1st module capacity of 3,000 MT CO2 / year Ultimate nominal capacity of 4,000 MT / year Includes NG Cogen unit for heat + power generation 23CONFIDENTIAL
24 Brief Summary of Huntsville DAC Plant • Commissioning Completed • Prioritized subsystem testing for extensive preventative assessment to reduce cost and mitigate fully assembled operational risks • Regeneration chamber / seals vacuum testing • Panel movement system accelerated testing • Production Sorbent Apparatus performance • PLC / HMI : automated operation and automated safe shutdown 24CONFIDENTIAL
July 2018 | CONFIDENTIAL 25 25CONFIDENTIAL
July 2018 | CONFIDENTIAL 26 26CONFIDENTIAL
July 2018 | CONFIDENTIAL 27 27CONFIDENTIAL
2828CONFIDENTIAL
29 29CONFIDENTIAL
30 R&D - Material Performance Improvements Substrate Alumina Coating Sorbent • Cell Density & Open Face Area • Pressure drop • External mass transfer coefficient • Maximum capture efficiency • Thermal mass • Material • Thermal mass • Cost • Thickness • Loading capacity • Pressure drop • Mesoporosity and Macroporosity • Sorbent capacity • Sorbent accessibility • Sorbent kinetics • Polymer type & molecular weight • Activity, selectivity • Oxidative, hydrothermal, and cyclic stability • Workability • Regenerability • Cost • Loading • Uptake kinetics & efficiency • Thermal mass • Cost 30CONFIDENTIAL
Original SRI monoliths Production monoliths for Huntsville plant 31 Monolith Performance Evolution 1. 6.5 L / 30 min; 13 L/h 2. 16 L / 15 min; 64 L/h 3. 21 L / 15 min; 84 L/h Gen. Potential Next Generation 31CONFIDENTIAL
32 Global Thermostat CO2 Product Specifications • Product CO2 from GT DAC process is >98.5 vol% CO2 purity (dry basis) • Balance (<1.5%) composition = feed composition • For onsite delivery of beverage grade CO2, downstream purification and liquefaction by turnkey skid-mounted unit • Purification/liquefaction solutions to liquid ISBT standard CO2 (CGA Grade I) from (e.g.) TOMCO2, Pentair, ASCO, & others. • Alternative GT patent-pending process for the production of high purity CO2 (99.9%+) directly via the GT process • Avoids the need for cryogenic polishing processes • To be demonstrated with GT DAC plant in Huntsville • In general, high purity CO2 can be provided if needed by: • GT producing beverage grade directly • Standardized system from turnkey manufacturer • Integration with existing capability from an industrial gas partner Sample DAC Product CO2 Composition CO2 98.71% O2 0.27% N2 1.01% Ar 116 ppm Ne 230 ppb He 65 ppb SO2 12 ppb NOx 7 ppb VOC n/a 32CONFIDENTIAL
33 Plant Capex & Cost Reduction Pathways • 1st Plant Capex (without Cogen units): ~2MM USD • Significant one-time costs of detailed engineering, manufacturing equipment setup (seal molds, monolith extrusion dies, regeneration box templates, etc.) • 2nd Plant and Beyond cost reductions from vendor volume discounts, assembly learning, streamlined instrumentation, etc. • See below charts from joint report from GT’s fabricator and EPC regarding cost reductions with # of units • Further cost reductions from automated manufacturing, learning by doing, etc. 33CONFIDENTIAL
34 Cost Reduction Pathways (continued) • Monolith cost reductions estimated by Corning, Haldor Topsoe to be up to a factor of 2 with large scale manufacturing • E.g. Corning’s fully robotic facility for Celcor substrates reduced manufacturing costs by a factor of 3 for automotive and stationary ceramic monoliths • China has costs 4x or more lower • With generational Monolith performance improvements, per-tonne Capex will decrease as well as Opex • Same CAPEX that delivers 4,000 tonnes/year can have 5,000 tonne/year capacity with 25% increase in per-monolith CO2 capture performance - 6000 tonne/year possible • Scheduled monolith exchange can provide step-change in plant productivity and economics with drop-in generational replacements • Overall, the CAPEX of a GT plant is likely to decrease by 50% over 1st plant CAPEX • CAPEX per tonne can decrease even further with increased productivity • OPEX per tonne will also decrease as monolith performance increases 34CONFIDENTIAL
35 Future Development Plans • Further expansion of R&D personnel and capabilities • New R&D facilities to enable larger scale testing and synthesis • Developing Joint Development Agreements with Suppliers • Exploring development of in-house Sorbent Apparatus monolith manufacturing 35CONFIDENTIAL
36 RENEWABLE ENERGY AND MATERIALS ECONOMY Industrial Version of Photosynthetic Process • Inputs Renewable Energy, Carbon from the air, Hydrogen from Water • Outputs Carbon Neutral Synthetic Fuels Carbon Negative Materials (eg carbon fiber ) 36CONFIDENTIAL

More Related Content

Carbon Negative Power Plants & Their Impact on the Environment

  • 1. 1 Graciela Chichilnisky CEO & Co-Founder Earth Dialogues Puerto Madryn, Argentina October 23, 2018
  • 2. Carbon Negative Powerplants can Transform US $53 Trillion global power plant infrastructure from emitters to sinks for CO2 Cleaning the Atmosphere While Producing Electricity Breakthrough CONFIDENTIAL 2
  • 3. Global Thermostat Positive Business Impact while Reversing Climate Change Meeting Requirements of Byrd-Hagel Law 1997 3 • New Jobs • Expanding Exports • Economic Progress CONFIDENTIAL 3
  • 4. 4 2018: Moving Ahead at Breakthrough Speed ..Huge demand for CO2 unmet..1 ..Due to three critical issues.. Limited, Stranded Supply: Natural subterranean reserves are limited. Supply is depleting and geo- specific. Other sources are inadequate High Capture Costs: Competing carbon capture methods prohibitively expensive Difficult to Transport: CO2 is difficult to transport economically. Trucking and pipelines require significant capital investment for an inefficient process Industrial Markets: Over $1tn, including: Food & Beverages, Enhanced Oil Recovery, Refrigeration & Greenhouses, Carbonates, Concrete/Cement, Polymers, Graphene, Crop Improvement Oil & Gas: Enhanced Oil Recovery (EOR), Clean up of Natural Gas Processing Renewable Fuels: Algae Biofuels, Synthetic Gasoline 1. Appendix: CO2 – A MARKET FLOODED BY DEMAND GT’s Competitive Advantage vs. Existing Supply CONFIDENTIAL
  • 5. ENORMOUS UNMET DEMAND FOR CO2 GT’s Competitive Advantage vs. Existing Supply Huge demand for CO2 unmet.. Industrial Markets Food & Beverages, Refrigeration & Greenhouses, Carbonates, Concrete/Cement, Polymers, Crop Improvement Emerging Technologies Bio-plastics, Graphene, Carbon Fibers Renewable Fuels Algae Biofuels, Synthetic Gasoline ..due to three critical issues.. Limited, Stranded Supply Natural subterranean reserves are limited. Supply is depleting and geo-specific. Other sources are inadequate High Capture Costs Competing carbon capture methods prohibitively expensive Difficult to Transport CO is difficult to transport2 economically. Trucking and pipelines require significant capital investment for an inefficient process .. GT addresses these issues .. GT provides an unlimited supply of CO2 .. GT captures CO2 at a fraction of the cost of traditional sources from flue gas or ambient air .. GT offers modular, “plug and play” units that can be located anywhere For the first time in human history abundant, low cost CO2 is available anywhere, anytime. CONFIDENTIAL 5
  • 7. 7 GT HISTORICAL TIMELINE 2016201520132010 Incubation Key author of the Kyoto protocol establishes Global Thermostat (GT) with leading researchers from Princeton, Harvard, Columbia and Stanford Universities Capitalization Through 2015, GT successfully raises an aggregate of $29.5 million anchored by Edgar Bronfman, NRG, and Vice Media Technology Validation GT collaborates with industry leaders Corning, Linde, NRG Haldor Topsoe, and BASF. Achieves 32 patents to date, protected in 147 countries. GT proprietary modules achieve an unprecedented competitive advantage with industry-leading margins Partnerships GT proliferates the global CO2 value chain with key partnerships including NRG, Georgia Tech, Corning, SRI, and Linde as strategic partners Commercialization & Scale Up Deployment GT starts exploring commercial contracts to address market demand Pilot Demo Plant Commercial Demo Plant 2017 Funding and Commercial Construction GT successfully closes investment round of $20 million bringing the aggregate amount of funding to $42 million. GT starts building first commercial plant for major carbonated beverage producer First GT Commercial Plant (4,000/ TPY) Completed at Huntsville, AL For Global leading provider of carbonated beverages and production of bio- degradable plastics 2018 Commercial Plant CONFIDENTIAL
  • 8. 8 COMMERCIAL VALUE PROPOSITION Lowest Cost We produce CO2 below $50 per metric tonne. Energy provided by low cost residual low temperature heat (85° C) rather than electricity The modularity of our plants keeps CapEx deployment in line with demand and utilization Our Direct Air Capture technology nearly eliminates prohibitive distribution costs in the C02 industry. A major and unprecedented CO2 market disruptor Most Scalable No Transportation Carbon Negative Addresses long-term environmental and economic issues Reliable, lowest cost CO2 available anytime, anywhere in the world CONFIDENTIAL
  • 9. 9 HOW IT WORKS Our proprietary Cyclic Adsorptive CO2 Capture method selectively captures high-purity CO2 from free air at any location. The process also conserves energy in an efficient heat cycle 2 Step 2: Carbon Capture Monoliths coated with GT’s proprietary aminopolymer sorbent selectively bind CO2 from the air Step 4: Heat Transfer Two regeneration chambers operating 50% out of phase transfer heat back and forth to reduce sensible heat requirement by half 4 Step 3: Regeneration Pure CO2 is released by 85° - 90°C steam and the sorbent is regenerated 3 Step 1: Air Input Zero cost feedstock, carbon directly from the air, is accessible anywhere in the world 1 CONFIDENTIAL
  • 10. 10 2010: 1st PILOT GT PLANT Captures CO2 directly from air SRI International (formerly Stanford Research Institute), 333 Ravenswood Avenue, Menlo Park, CA 94025 CONFIDENTIAL
  • 11. 11 2013 COMMERCIAL GT DEMO PLANT at SRI Captures CO2 from SRI fossil fuel power plant and also directly from air [GT achieves US DoD/DoE Technology Readiness Level-8 (TR8)] 333 Ravenswood Avenue, Menlo Park, CA 94025 CONFIDENTIAL
  • 12. 12 2018 GT COMMERCIAL PLANT in Huntsville, Alabama
  • 13. 13 2018 GT COMMERCIAL PLANT in Huntsville, Alabama First GT Commercial Plant (4,000/ TPY) Huntsville, Alabama Full-scale GT-DAC 18m tall, 50m long, 6m wide 50,000 tonnes CO2 / year Containerized GT-Carburetor 40’ ISO container 10,000 tonnes CO2 / year Conceptual design for Containerized Carburetor is complete. Next step is detailed engineering. Basic design for Full-scale modules completed with NRG and Sargent & Lundy. Next step is detailed engineering. CONFIDENTIAL
  • 14. 14 Biofertilizers >$205m/yr Existing market Industrial Gases >$4.8bn/yr Existing market Food & Beverage >$1.3bn/yr Existing market Building Materials >$340m/yr Existing market Synthetic Fuels >$135m/yr Existing market >$70m/yr Existing market 3% 71% 18% 5% 2% 1% GLOBAL THERMOSTAT: INITIAL MARKET VERTICALS $6.7 billion annual CO2 market in initial target segments Seawater Desalination CONFIDENTIAL
  • 15. 15 LEADERSHIP Dr. Graciela Chichilnisky CEO & Cofounder Dr. Peter Eisenberger CTO & Cofounder Edgar Bronfman, Jr. Executive Chairman •World leading economist and mathematician •Two PhD’s: Math, MIT; Economics, Berkeley •Successful Entrepreneur: Founded & sold financial services tech companies FITEL, and Cross Border Exchange •Authored Kyoto Protocol carbon market •Tenured Professor at Columbia University, previously at Harvard and Stanford •2015 “CEO of the Year” Selected by IAIR, Yale Club NY April 2015 •Leader and technology innovator in global energy industry and CO2 capture •20+ year career including global R&D head at Exxon and lead scientist at Bell Labs •Tenured professor, former Vice Provost at Columbia University •Founding Director Columbia University Earth Institute •Founding Director Princeton University Materials Institute •Chairman, Endeavor Global •General Partner at Accretive LLC •Former Chairman and CEO of the Warner Music Group •Recently successfully sold Warner for US$3.3 billion •Former President and CEO of the Seagram Company CONFIDENTIAL
  • 16. 16 GT AWARDS “World’s Top-10 Most Innovative Company in Energy” – Fast Company, April 2015 “2015 CEO of The Year: Graciela Chichilnisky” – Yale Club of New York City IAIR Award, April 2015 “2016 Top 50 Most Innovative Company in Renewable Energy” – Company Energy, May 2016 “Finalist and $250k Grant Winner” – NYSERDA, June 2016 “World's Top 50 Innovators from the Industries of the Future: Graciela Chichilnisky ” – Codex, July 2017 “The Companies with Most Disruptive Innovation” - Insights Success, 2018 “The 30 Most Innovative Companies to Watch 2018” – Insights Success Magazine, March 2018 CONFIDENTIAL
  • 17. 17CONFIDENTIAL Graciela Chichilnisky , c: +1.646.623.3333 +1.212.678.1148 | www.globalthermostat.com OFFICES New York 660 Madison Avenue, Suite 1215 New York, NY 10065 LABORATORIES Atlanta Advanced Technology Development Center Georgia Institute of Technology 311 Ferst Dr NW Atlanta, GA 30332 Silicon Valley SRI (formerly Stanford Research Institute) 333 Ravenswood Ave Menlo Park, CA 94025 Contact
  • 19. Technology Operation Step 1: Air Input • GT uses monolith contactors like those in a tailpipe catalytic converter • Contactors provide high surface contact areas at low pressure drop • Enables movement of large air volumes with effective contact of CO2 at low cost Step 2: Carbon Capture • GT sorbents proven highly effective by Georgia Tech - confirmed by SRI, BASF, Corning, and DN Veritas • Process to deposit immobilized amines in pores of the contactor walls at high loading by Corning, Haldor Topsoe, Applied Catalysts Step 3: Regeneration • CO2-rich sorbent is heated with low-temperature process heat steam (95°C) • CO2 is collected and sorbent is regenerated (thermal and sweep gas cycle) • CO2 can be stored or used in multiple commercial applications • 16 minute cycle per panel for ambient air Step 4: Heat Transfer • Neighboring module has completed Step 2, and enters its regeneration box • That box is evacuated, and connected to the hot box from which CO2 was just removed • Water evaporates from hot monoliths (cooling them) and condenses on cool monoliths, warming them • This sharing provides 50% of the heat for the cool monoliths GT Module Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent “Cartridge” 95° Steam CO2 Collection GT Module Adsorption Phase Regeneration Phase Ambient Air Monolith Contactors + Sorbent “Cartridge” ` GT Module Adsorption Phase Regeneration Phase Ambient Air Monolith Contactors + Sorbent “Cartridge” GT Module Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent “Cartridge” Evacuated steam from hot box to neighboring box/module 19 19CONFIDENTIAL
  • 20. 20 GT Technology Breakthroughs Contactor Efficiency • GT modeled different types of contactors, finding honeycomb monoliths significantly outperform all others on a {Surface Area} / {Pressure Drop} / {$} basis • Channels parallel to the direction of flow minimize pressure drop while maximizing contact area • Impingement of CO2 onto active material orthogonal to flow Regeneration Efficiency & Heat Recovery • Using steam as sweep gas in addition to heat transfer fluid reduces regeneration temperature to as low as 75C • Evolved CO2 is rapidly swept away from the surface, depressing the effective PCO2 experienced by the desorbing media • Sensible heat is recycled by coupling two regeneration boxes in opposite phase • 50% reduction in sensible heat requirement by preheating a full canister by evaporatively cooling an empty canister Generational Improvement of Adsorption Media • Fixed dimension of individual monoliths within a canister allow for direct replacement with new materials with improved performance • No change in plant components necessary 20CONFIDENTIAL
  • 21. Global Thermostat Module Embodiments & Capacities 1. Diluted Flue Gas Capture (GT-Carb) • CO2 captured from flue gas of fossil fuel power plant • Electricity, flue gas, and heat integration with power plant • Capable of high levels of flue stream decarbonization 2. Direct Air Capture (GT-DAC) • CO2 captured directly from the atmosphere at 400 ppm • Heat integration capability with nearby manufacturing or downstream processes • No power plant proximity requirement or flue gas retrofit • Remote CO2 capture possible if integrated with available on-site energy 3. Standalone Integrated CO2 Capture (GT Self-Carb) • On-site nat. gas CoGen plant provides total heat and power needs for CO2 capture and delivery, • CO2 emissions from CoGen flue gas captured by GT-Carb modules, remaining heat and electricity used to power GT-DAC modules • Ideal for larger applications in remote locations without co-located heat Commercial Module Capacities to Scale with Demand: 21 Containerized Module Full-scale Module GT-DAC 1,000 – 4,000 MT/y 50,000 MT/y GT-Carb 10,000 MT/y 100,000 MT/y 21CONFIDENTIAL
  • 22. 22 Status of Other GT Embodiment Designs Self Carburetor- Local Power Source CO2 + DAC Full-scale GT-DAC 18m tall, 50m long, 6m wide 50,000 tonnes CO2 / year Containerized GT-Carburetor 40’ ISO container 10,000 tonnes CO2 / year Full-scale GT-Carburetor 18m tall, 17m long, 20m wide 100,000 tonnes CO2 / year Basic design for Full-scale modules completed with NRG and Sargent & Lundy. Next step is detailed engineering. Conceptual design for Containerized Carburetor is complete. Next step is detailed engineering. 22CONFIDENTIAL
  • 23. 23 Global Thermostat Containerized DAC Module For Global leading provider of carbonated beverages Under Construction Now in Huntsville, AL USA Expecting: Fall 2018 Mechanical Completion Containerized GT-DAC Fall 2018 Continuous Operation 2 standard 40-ft. ISO containers + 1 auxiliary container Nominal 1st module capacity of 3,000 MT CO2 / year Ultimate nominal capacity of 4,000 MT / year Includes NG Cogen unit for heat + power generation 23CONFIDENTIAL
  • 24. 24 Brief Summary of Huntsville DAC Plant • Commissioning Completed • Prioritized subsystem testing for extensive preventative assessment to reduce cost and mitigate fully assembled operational risks • Regeneration chamber / seals vacuum testing • Panel movement system accelerated testing • Production Sorbent Apparatus performance • PLC / HMI : automated operation and automated safe shutdown 24CONFIDENTIAL
  • 25. July 2018 | CONFIDENTIAL 25 25CONFIDENTIAL
  • 26. July 2018 | CONFIDENTIAL 26 26CONFIDENTIAL
  • 27. July 2018 | CONFIDENTIAL 27 27CONFIDENTIAL
  • 30. 30 R&D - Material Performance Improvements Substrate Alumina Coating Sorbent • Cell Density & Open Face Area • Pressure drop • External mass transfer coefficient • Maximum capture efficiency • Thermal mass • Material • Thermal mass • Cost • Thickness • Loading capacity • Pressure drop • Mesoporosity and Macroporosity • Sorbent capacity • Sorbent accessibility • Sorbent kinetics • Polymer type & molecular weight • Activity, selectivity • Oxidative, hydrothermal, and cyclic stability • Workability • Regenerability • Cost • Loading • Uptake kinetics & efficiency • Thermal mass • Cost 30CONFIDENTIAL
  • 31. Original SRI monoliths Production monoliths for Huntsville plant 31 Monolith Performance Evolution 1. 6.5 L / 30 min; 13 L/h 2. 16 L / 15 min; 64 L/h 3. 21 L / 15 min; 84 L/h Gen. Potential Next Generation 31CONFIDENTIAL
  • 32. 32 Global Thermostat CO2 Product Specifications • Product CO2 from GT DAC process is >98.5 vol% CO2 purity (dry basis) • Balance (<1.5%) composition = feed composition • For onsite delivery of beverage grade CO2, downstream purification and liquefaction by turnkey skid-mounted unit • Purification/liquefaction solutions to liquid ISBT standard CO2 (CGA Grade I) from (e.g.) TOMCO2, Pentair, ASCO, & others. • Alternative GT patent-pending process for the production of high purity CO2 (99.9%+) directly via the GT process • Avoids the need for cryogenic polishing processes • To be demonstrated with GT DAC plant in Huntsville • In general, high purity CO2 can be provided if needed by: • GT producing beverage grade directly • Standardized system from turnkey manufacturer • Integration with existing capability from an industrial gas partner Sample DAC Product CO2 Composition CO2 98.71% O2 0.27% N2 1.01% Ar 116 ppm Ne 230 ppb He 65 ppb SO2 12 ppb NOx 7 ppb VOC n/a 32CONFIDENTIAL
  • 33. 33 Plant Capex & Cost Reduction Pathways • 1st Plant Capex (without Cogen units): ~2MM USD • Significant one-time costs of detailed engineering, manufacturing equipment setup (seal molds, monolith extrusion dies, regeneration box templates, etc.) • 2nd Plant and Beyond cost reductions from vendor volume discounts, assembly learning, streamlined instrumentation, etc. • See below charts from joint report from GT’s fabricator and EPC regarding cost reductions with # of units • Further cost reductions from automated manufacturing, learning by doing, etc. 33CONFIDENTIAL
  • 34. 34 Cost Reduction Pathways (continued) • Monolith cost reductions estimated by Corning, Haldor Topsoe to be up to a factor of 2 with large scale manufacturing • E.g. Corning’s fully robotic facility for Celcor substrates reduced manufacturing costs by a factor of 3 for automotive and stationary ceramic monoliths • China has costs 4x or more lower • With generational Monolith performance improvements, per-tonne Capex will decrease as well as Opex • Same CAPEX that delivers 4,000 tonnes/year can have 5,000 tonne/year capacity with 25% increase in per-monolith CO2 capture performance - 6000 tonne/year possible • Scheduled monolith exchange can provide step-change in plant productivity and economics with drop-in generational replacements • Overall, the CAPEX of a GT plant is likely to decrease by 50% over 1st plant CAPEX • CAPEX per tonne can decrease even further with increased productivity • OPEX per tonne will also decrease as monolith performance increases 34CONFIDENTIAL
  • 35. 35 Future Development Plans • Further expansion of R&D personnel and capabilities • New R&D facilities to enable larger scale testing and synthesis • Developing Joint Development Agreements with Suppliers • Exploring development of in-house Sorbent Apparatus monolith manufacturing 35CONFIDENTIAL
  • 36. 36 RENEWABLE ENERGY AND MATERIALS ECONOMY Industrial Version of Photosynthetic Process • Inputs Renewable Energy, Carbon from the air, Hydrogen from Water • Outputs Carbon Neutral Synthetic Fuels Carbon Negative Materials (eg carbon fiber ) 36CONFIDENTIAL

Editor's Notes

  1. Peter-- This is the slide that illustrates the performance improvements yielded by the material improvements tabulated on the previous slide. Gen 1 = SRI (Corning/BASF, off-the-shelf); Gen 2 = Haldor Topsoe production run for Huntsville; Gen 3 = Research Grade samples from Corning next-gen parts