BIOFUELS/ETHANOL WORLD MARKET

UPDATE

February 2012

TABLE OF CONTENTS

INDUSTRY NEWS

EIA Projects that Increased Oil, Natural Gas and Renewable Energy Production and Energy Efficiency Improvements will Reduce U.S. reliance on Imported Energy Sources

BP Forecasts Robust Global Energy Demand to 2030 despite Efficiency Gains

President’s 2013 Energy Budget Makes Critical Investments in Innovation, Clean Energy and National Security

Energy Secretary Chu Highlights All-of-the-Above Energy Strategy in Senate Budget Testimony

USDA Announces Funding for Two Renewable Energy Programs

Agriculture Secretary Vilsack Highlights U.S. Navy Biofuels Partnership at Pearl Harbor

EPA Decision on Study Clears Major Hurdle for Moving Higher Ethanol Blend to Market

American Coalition for Ethanol Says E15 Could Help Ease Rising Gas Prices

Ethanol Sales in South-Central Brazil Reach 1.29 Billion Liters in January

With an Eye on Brazilian Ethanol, Honduras Wants to Diversify its Energy Matrix

China-Nigeria Partnership Can Help Promote Internationalization of Ethanol

BP Biofuels Says the Technology Works, Rejects “Pixie Dust” Headlines

AFPM Warns of Adverse Effects of E15 Use

EPA Asks for Comments on Use of Palm Oil as a Feedstock

TECHNOLOGY NEWS

Fluor Awarded Biofuels Demonstration Plant by Joule Unlimited

Mascoma Implements Commercialization Strategy for Drop-In MGT Yeast Product to Improve Economics of Corn Ethanol Production

New IH2 Advanced Biofuels Plant Broadens Options for Converting Biomass into Transportation Fuels

Rosetta Green Has Successfully Improved Plant Growth under Intermittent Irrigation with Seawater

Verdezyne Secures Patent on Engineered Microorganisms

CELLULOSIC

POET and DSM to Make Advanced Biofuels a Reality by 2013

Advanced Cellulosic Biofuels Company Sundrop Fuels Selects Louisiana Site for Planned First Facility

Primus Green Energy Produces High-Octane, Renewable, Drop-In Gasoline

Enerkem and GreenField Ethanol Announce Quebec’s First Waste-to-Biofuels Production Facility

ZeaChem Selected for $232.5 Million USDA Loan Guarantee

SucreSource Signs GS Caltex…First Cellulose-to-Sugar Plant Sale and Partnership

Lignol Receives Approval of Four New Key Biorefining and Lignin Patent Applications

ALGAE

BioProcess Algae and Green Plains Break Ground on Five Acre Production Facility in Shenandoah, IA

OriginOil and Department of Energy to Develop Direct Conversion of Algae into Renewable Crude Oil for Existing Oil Refineries

Extreme Biodiesel to Produce Biodiesel from Algae Feedstock

Algae Producer Aquaviridis and OriginOil announce Joint Commercial Agreement

Microbubbles Provide New Boost for Biofuel Production

OriginOil Demonstrates Low-Energy Algae Appliance to National Algae Association

OriginOil Selects Frontline Engineering Australia to Provide Field Services for Asia-Pacific Customers

NEW FEEDSTOCKS

Celtic Renewable to Use Whiskey By-Products as Feedstock

Novozymes and Sea6 Energy Will Explore Biofuels from Seaweed

BIODIESEL

Biodiesel Production Breaks 1 Billion Gallon Mark

UPM to Build the World’s First Biorefinery Producing Wood-Based Biodiesel

Syntroleum Announces Dynamic Fuels and Mansfield Oil Relationship to Market Advanced Biofuels to Transportation Industry

New Partnership Helps Commercial Kitchens Recycle Trap Grease and Save Money

BIOFUEL USE

$950,000 Available for Blender Pump Installation

Synenergy Limited LLC and Allard Energy, Inc. to Revolutionize Medium-Scale Distributed Ethanol Fuel Refineries

Cool Planet BioFuels Announces Road Testing of Negative Carbon Gasoline Begins in California

Maersk Tests Soladiesel(RD)® in 6,500 Nautical Mile Commercial Voyage

BoatUS Asks: If Not Ethanol, Why Not Butanol?

W2 Energy Begins Second Generation Solar Bug

DISTILLERS GRAINS

New Low-Fat Distillers Grains Target Dairy Market

FINANCIALS

The Andersons

Neste Oil

Green Plains

COMPANY NEWS

KiOR Closes $75 Million Loan

LanzaTech Closes $55.8 Million Series C Round

Renewable Energy Group® Announces Pricing of Initial Public Offering of Common Stock

Enerkem Files for Proposed Initial Public Offering

PetroAlgae Changes Name to Parabel

National Clean Fuels Changes Name to Quantum International

Lignol Project Awarded $2.06 Million in Additional Funding from SDTC

With New Cellulosic Ethanol Joint Venture, POET to Decline DOE Loan Guarantee Before Drawing Funds

Arcis Resources Corporation Collaborates with Cetna Energy Partners, LLC to Market and Distribute Thermochemical Biofuels

Butamax Refutes Unfounded Allegations of Infringement

PROJECT NEWS

Agriculture Secretary Vilsack Announces Support for a New Advanced Biofuel Production Facility

Aventine Renewable Energy Holdings, Inc. Resumes Completion of Canton, IL, Ethanol Facility

Enerkem and GreenField Ethanol Announce Quebec’s First Waste-to-Biofuels Production Facility

GTL Resources Reduces Ethanol Output

Greenbelt Resources Corporation and Diversified Ethanol Contribute System to UF Biorefinery Pilot Plant

Southwest Iowa Renewable Energy, LLC to Pay $10,150 for Risk Management Plan Violations at Council Bluffs Ethanol Plant