Seppure - Long Deck

The Sustainable Solution to
Industrial Chemical Separation
©2021
©2021 SEPPURE
SEPPUREAll
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The Problem
Chemical separation processes
are resource intensive $3.6T in energy
costs
> 10% of world’s

CO2e emissions
1.2 trillion liters

of water
* Seven Chemical Separations to Change the World; Nature
2016
©2021
©2021 SEPPURE
SEPPUREAll
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The Solution
Molecular level solvent recovery
PRODUCT
PRODUCT-
SOLVENT
MIXTURE
NO HEAT 50% LESS
Operating Expenses
RECOVERED
SOLVENT
PRODUCT-
SOLVENT
90% LESS < 2 YEARS

MIXTURE
RECOVERED
SOLVENT Energy Consumption Return on
& CO2e Emissions Investment
PRODUCT
©2021 SEPPURE All rights Reserved 3
The Solution
Concentrating 1 m3 of a dilute solution in methanol by a factor of 10, using
(a) Conventional (Distillation) and (b) SEPPURE (Membrane Filtration) Technologies*
Qdistillation = 1750 MJ
Conventional
Distillation
Qfiltration = 3 MJ
(Membrane
Filtration)
Membrane Filtration
SEPPURE’ technology uses 580X less energy than the conventional method to do the same job!
In industrial applications, we usually use a hybrid process that ensures a minimum of 10X energy savings
©2021 SEPPURE All rights Reserved * Chem. Rev. 2014, 114, 10735−10806 4
The Solution
SEPPURE’s unique and proprietary CHEMICAL-RESISTANT membrane
Start 1 min
Dissolved
membrane
Conventional Membrane Conventional Membrane

(Polyethersulfone, PES) Chemical-resistant (Polyethersulfone, PES) Chemical-resistant
Membrane Membrane
Immersion in Dimethylacetamide (DMAc) solvent

The Solution
How it works?
A strong solvent can easily dissolve / swell polymers
Chemical crosslinking modification avoids that
Chemical agents are used as bridges among polymer chains;

• Improving chemical resistance
• Reconstructing pore structures
• Constraining membrane swelling

Technology Maturity
Outcome of US$13M in grants, investment and revenue
80+ 1000+ km 2000+ 10

Membrane Membrane fibers Modules fabricated Industrial projects
formulations tested produced and tested
2 Patents

Uniqueness
Cross-section Selective layer Membrane structure Free volume
• Special material choice and recipe (polymer, additive,
solvent) that provides a thin selective layer and porous
structure (high free-volume) for high throughput
• Special chemical cross-linking that is stable and keeps

membrane highly permeable
Hollow fiber module Spiral wound module

• Hollow fiber configuration that provides 3.7X higher
packing density (surface area per volume) compared
to spiral wound

Opportunities
Industries
Vegetable Oil Hemp Oil Biodiesel Semiconductor Pharmaceutical Petrochemical

$300B by 2027 $56B by 2028 $55B by 2025 $800B by 2028 $2T by 2027 $730B by 2030
CAGR 3.3% CAGR 47.5% CAGR 7.3% CAGR 8.6% CAGR 7% CAGR 5.1%
Applications
Solvent Free Fatty Acid Wax & Lipid Hydrocarbon Monomer Product API Concentration Solvent Homogeneous
Recovery Removal Removal separations Removal Upgrading & Purification Exchange Catalyst Recovery

Early Wins
Vegetable oil
Extraction
Solvent Solvent Crude

Oil Seed Preparation
Extraction Recovery Vegetable Oil
Biodiesel Vegetable oil

Conversion Refining
Solvent Used Refined Refining Solvent

FFA Removal FFA + Solvent FFA
Recovery Cooking Oil Vegetable Oil Process Recovery
Trans-
FFA Biodiesel
Esterification
SEPPURE’s technology is ready to be implemented in the Vegetable Oil and Biodiesel industries

Customer Pipeline
Vegetable Oil Semiconductor
After 10 months trial, they want to purchase
Pilot Completed with GIIAVA, signed MOU to industrial / semi-industrial modules
implement technology in Singapore
Three-phase long term contract signed with

Fuji Oil, Pilot phase (US$200K revenue) ended
Hemp
in Nov 2021, semi-industrial starts in Q1 2022
Energy
CA$3.6 million 2-Year Project with ERA and
Richardson Oilseed, Started in July 2021
Paid trial completed with Cargill Europe,
Pharmaceutical
Proposal submitted for the new plant
Pipeline

Business Model
VALUE
STREAM Industrial System
OEM
One-time investment
Partner
1
15-20 years lifetime
1-2 years ROI
One-time revenue (System sales)
REVENUE STREAM CUSTOMER
Recurring revenue (Module sales)
2 Membrane Modules
Recurring savings
1-2 years lifetime
VALUE 50% OPEX reduction
STREAM

Revenue Projection
Total Revenue (2021-2026) Potential
Addressable
System Stages Recurring Revenue 302M
162M
$10B
102M
Current
51M
Addressable
0.4M 6M
$600M
2021 2022 2023 2024 2025 2026 Recurring
Revenue

Competitive Advantage
MARKET LEADER
SolSep BV
Separation speed (Flux) Very High Low Low Moderate
Pricing Low High Moderate Moderate
Temperature tolerance High Low Moderate High
Organic solvents, Organic Organic Organic

Applications
Acid, Base solvents solvents solvents
Packing density High Low Low Low
Maturity Pilot Industrial Pilot Pilot
SEPPURE’s product compared to the competition is more Revolutionary than Evolutionary

Competitive Advantage
M AR KET LEAD ER
vs
How much
Features SEPPURE Evonik
better?
Why better?
SEPPURE 3” module
Temperature-
100-150 °C Max 50°C 2-3X Higher temperature tolerance Membrane effective
tolerance
surface area (m2) 5.8
SEPPURE works in acid and
pH range 1-14 ~7 only -- base Productivity (Acetone
Configuration
SEPPURE uses an efficient @ 20 bar), L/h 350
Hollow fiber Spiral wound -- configuration
20 m2 for 4" x 5.4 m2 for 4" x Smaller system size and
Packing Density 3.7X
EVONIK 4” module
40" module 40” module lower system cost
Permeance Pure Acetone: Pure Acetone:
(L/m2h bar) 20X Faster separation
Membrane effective
5.4
3 0.15
Productivity per surface area (m2)
module (L/h) at 1200 16.2 74X More productive Productivity (Acetone
20 bar @ 20 bar), L/h 16.2
Price ($/m2
membrane)
Est. 300 1000 3X More economical
It takes 1 SEPPURE Module to complete the same job as 74 EVONIK Module

Milestones
$7.5M $2.7M $2.9M
Research grant from Seed investment Project secured to implement
Singapore Prime the technology in Canada
Minister's Office
We are here
2015 2018 2019 2020 2021 2022 2023 2024 2025
R&D MEMBRANE SCALE-UP INDUSTRIAL PILOTS MANUFACTURING NEW PRODUCTS
Research on Chemical- • Founding of SEPPURE • 4" industrial modules • Manufacturing plant established • Gas Separation
resistant Nanofiltration membranes for
• MVP membrane product • 150 TPD veg. oil skids • Production ramp up to
Membranes at NUS Carbon Capture and
20,000 modules per year
by Dr. Farahani under • All technical milestones • 2-4 in-field units deployed at Hydrogen Purification
the guidance of achieved different plants • Signed supply contracts with key
Professor Neal Chung suppliers
• Roll-to-roll fabrication • 6 months endurance and
performance testing • 3 regional sales offices GAS TECHNOLOGIES
established
• Digital Solutions roll out
DIGITAL SOLUTIONS

Founder
Mohammad Farahani, PhD

Founder, CEO & CTO
PhD in Membrane Technology (NUS)
10 Years Research & Industry Experience
3 Patents, 30+ Publications, 1450+ Citations • Outstanding Young Alumni Award by National University of Singapore, 2021
• Innovators Under 35 by MIT Technology Review, Class of 2020
• Founder of the Year by TechNode Global at Origin Innovation Awards 2020
• Innovator of the Year Award by Singapore Business Review 2020
• Leader of Tomorrow by Gen.T List, Class of 2020
• The outstanding postgraduate research thesis award, AIChE-SLS, 2018
• The President's Innovation Challenge Award by X-lab (Tsinghua University), 2019
• Singapore International Graduate Award (SINGA) for 4 years of Ph.D. study, 2015

Team
Executive Management Advisory Board
Ivy Chua, MSc Kee Kia Kian, MSc Prof. Neal Chung
VP, Product VP, Engineering Technical Advisor
MSc in Chemical Engineering MEng in Chemical Engineering Provost's Chair Professor
25+ Years Industrial Experience MSc in Mechanical Engineering National University of Singapore
3 Patents on Membrane 20+ Years Industrial Experience
Scott Greer, PhD, PMP Hafiiz Osman, PhD Prof. William B. Krantz
VP, Research & Development VP, Business Development Technical Advisor
Professor Emeritus
PhD in Plant Science PhD in Mechanical Engineering University of Colorado
MSc in Biology MEng in Mechanical Engineering
15+ Years Industrial Experience 10+ Years Industrial Experience

Series A Fundraising
CAPEX for R&D Other R&D Expenses
6.3% 5.7%
Other SG&A Expenses
6.4%
Series-A
$15
Operational Cost
35.2%
CAPEX for Manufacturing US
20.5%
MILLION
Wages & Salaries

25.9%

SUPPURE Family
Backed By Affiliations and Partners

The Sustainable Solution to
Industrial Chemical Separation
©2021
©2021 SEPPURE
SEPPUREAll
Allrights
rightsReserved
Reserved 21
APPENDIX

Sustainability Impact
SEPPURE’s technology replacing just

10% of the world’s distillation would
have an impact equivalent to...
Cost of energy for distillation is $3.6B globally, it is consuming 15% of the world’s energy, emitting 5B T of CO2e
savings in electricity supply CO2e emissions Olympic-sized

energy cost for Singapore avoided swimming pool of
water saved
Circular Economy
Through life-cycle sustainability
Resource
From disposal & incineration Recovery
to recovery & reuse
From solvent-resistant membranes

to protective fire-resistant fabric
Green Circular
Commodities Chemistry
From use in food preparation
to clean power generation

Manufacturing Plan
Engineering Construction Production
Q1 2022 Q2-Q4 2022 Q4 2022
Factory planning and Equipment procurement, Membrane module

initial engineering Factory setup & commissioning production line operational
CAPEX required for 1st line of 15,000 modules/year + infrastructure: US$4-5 million
CAPEX required for subsequent lines of 15,000 modules/year: US$2.5 million
Revenue from selling 15,000 modules/year: US$90 million (margin > 40%)
Proposed Location: Alberta, Canada

Business Development Framework
Leads Generation (Top of the Funnel)
Innovation Strategic Collaborative Market Exploration Exhibitions &

Marketplace Memberships Mentorships Programmes Conferences
Free / Low cost High cost
Customer Discovery & Project Proposal (Middle of the Funnel)
Direct Proposal Innovation Grant Funding

Solicitation Challenges Call-for-Proposals
Closing the Deal (Tip of the Funnel)
Pilot / POC Commercial

Projects Projects
Direct revenue
Joint Industry Research

Projects (JIP) Grant
Indirect revenue
(Grant funding)

Resources for Trial/Pilot Tests
Membrane fabrication line Membrane tester Produced modules
Process Laboratory

Vegetable Oil
Potential Addressable Market
Global market size of US$300 Billion by 20271

Asia Pacific Europe North America
55.7% market share by region in 20182 15.8% market share by region in 20182 11.0% market share by region in 20182
Top Producers2 Top Producers2 Top Producers2 Top Oils2

CHINA RUSSIA UNITED STATES 1. Soybean Oil (54%)
24.7% market share in 2018 2.9% market share in 2018 6.9% market share in 2018 2. Canola Oil (24%)
3. Palm Oil (9%)
INDONESIA UKRAINE CANADA
23.0% market share in 2018 2.8% market share in 2018 2.3% market share in 20183
MALAYSIA GERMANY
10.9% market share in 2018 2.0% market share in 2018
South America
INDIA Top Oils2 12.0% market share by region in 20182
3.6% market share in 2018
1. Sunflower Oil (44%) Top Producers2 Top Oils2
Top Oils2 2. Canola Oil (33%)
3. Soybean Oil (13%) BRAZIL 1. Soybean Oil (76%)
1. Palm Oil (56%) 5.1% market share in 2018 2. Palm Oil (12%)
2. Soybean Oil (18%) 3. Sunflower Oil (7%)
3. Canola Oil (7%) ARGENTINA
0.8% market share in 2018

1GlobeNewswire: https://www.globenewswire.com/news-release/2021/03/02/2185174/0/en/Global-Vegetable-Oil-Market-2020-to-2027-Increasing-Demand-for-Vegetable-Oils-in-the-Biofuel-Industry-is-Driving-Growth.html
2Food and Agriculture Organization of the United Nations
Biodiesel
Global Market Value: ~US$50 billion

15 billion gallons in 2020
US$3 per gallon average conservative
Source: REG Annual Report 2020

Hemp and Cannabis Oil

Pharmaceutical
Global market size of US$2.1 Trillion by 20271
Americas Europe Asia, Africa & Australia

53.2% market share by region in 20172 22.2% market share by region in 20172 24.7% market share by region in 20172
UNITED STATES GERMANY UNITED KINGDOM CHINA

US$465 bn market value in 20173 US$47 bn market US$26 bn market US$122 bn market value in 20173
value in 20173 value in 20173
FRANCE SPAIN
BRAZIL US$34 bn market US$22 bn market JAPAN
US$33 bn market value in 20173 value in 20173 value in 20173 US$84 bn market value in 20173
CANADA ITALY RUSSIA INDIA

US$20 bn market value in 20173 US$30 bn market US$15 bn market US$16 bn market value in 20173
value in 20173 value in 20173
1Fortune Business Insights

2IQVIA
3IMS World Review Analyst
Semiconductor

2019 Semiconductor market share by country (Top 6)2 Semiconductor consumption (US$ bn) (2018-2027)3
798
728
664
607
555
509
458
South Korea 19% 401
433
Taiwan
(Province of
China) 6% Japan 5%
The
Netherlands
United States 47% China 5% 4% 2019 2020 2021 2022 2023 2024 2025 2026 2027
1Fortune Business Insights

2Semiconductor Industry Association 2020 Factbook
©2021 SEPPURE All rights Reserved 3Deloitte (August 2021) Rise of the "Big 4" The semiconductor industry in Asia Pacific 32
Solvent Extraction & Recovery
Hybrid Process
Pure Solvent
GreenMem 500 Oil content ~0%
Filtration Unit
Oil + Solvent
Oil content: 10-20%
Pump
Energy Pure Solvent
Oil content ~0%
Oil + Solvent
Oil content 60-70%
Cooling
Distillation
Energy
ROI within Up to 50% Up to 90% less

1-2 years
Oil + Solvent
less OPEX GHG emissions Heating Energy Oil content: 98-99%
To solvent stripping unit

Free-Fatty Acid Removal
General Process FFA + Solvent
Oil content: ~0%
SEPPURE SEPPURE
GreenMem 500 GreenMem 200
Benefits
Oil + FFA + Solvent
Oil content: 10-20% § No use of Caustic
FFA content: 1-2% Pure Solvent
Pump § No oil loss to soap stock
Energy
§ No effluent treatment
Pump
Hybrid § Saves energy
Energy
System
Oil: ~ 100% FFA: ~98%
Solvent: <2%
Product Performance
Feed: 10% Soybean Triglyceride / 90% Acetone (wt%) Feed: 10% Oleic Acid (FFA) / 90% Acetone (wt%)
Temperature: 45°C, Pressure: 15 bar Temperature: 45°C, Pressure: 10-15 bar
Membrane Avg. Acetone Flux Avg Oil Rejection Membrane Avg. Acetone Flux Avg FFA Rejection
(LMH) (%) (LMH) (%)
GreenMem 500 38.2 98.2 GreenMem 200 8.0 98.9

Circular Solutions for Biodiesel
Recovered Methanol + Catalyst
Secondary Product
Methanol Crude Glycerine

Methanol & Glycerol
Catalyst Recovery
Feedstocks
Used Cooking Oil FFA Transesterification Products

Removal Separation
Primary Product
FFA Catalyst Crude Biodiesel Washing Biodiesel

NaOH / KOH
Pre-treatment Biodiesel Extraction Methanol & Catalyst

Removes FFA to avoid
saponification during
Separates biodiesel from
reaction by-products and
Recovery
Recovers excess methanol and
transesterification process excess methanol
catalyst for next batch process

FAME Production (Conventional Process)
Methanol Glycerol 1. Neutralisation

• Caustic is added to neutralise the FFA
NaOH / KOH Alkali Catalyst to form soap stock that is removed
Methanol + • Up to 30% oil loss can occur due to
3 Distillation Distillation
Water
saponification
Glycerine +
H2SO4 Methanol 2. Centrifugal Separation
• Due to the low solubility of glycerol in
Higher FFA Oil the esters, they can be separated with
Acid Catalyst Acid Glycerine Refining FFA
(FFA > 5%)
a centrifuge
Pre-treatment Centrifugal • Both the glycerol and FAME separated
Esterification Transesterification 2
e.g. Degumming Separation would contain excess methanol,
catalyst and soap which needs to be
Crude Biodiesel further refined
(FAME)
1
3 Methanol+
Lower FFA Oil Pre-treatment Neutralisation
Distillation Water 3. Distillation
(FFA ≤ 5%) e.g. Degumming (Alkali)
• Recovery of methanol is carried out
Biodiesel through either vacuum or conventional
(FAME)+Residual Washing Distillation distillations
methanol
Acid Biodiesel (FAME)

FAME Production (SEPPURE Process)
Pre-treatment
Methanol Crude Glycerine Crude Glycerol Removes FFA to avoid
saponification during
NaOH / KOH Alkali Catalyst transesterification process
Distillation (To
Methanol & remove water)
Catalyst Recovery
Glycerine Refining FFA

Biodiesel Extraction
Crude Glycerine,
Higher FFA Oil Separates biodiesel from
Acid Catalyst H2SO4
Application 2 Methanol, Alkali Catalyst
(FFA > 5%) reaction by-products and
excess methanol
Pre-treatment e.g.
Esterification Transesterification
Degumming Products
Separation
Crude Biodiesel (FAME)
Lower FFA Oil Pre-treatment e.g.

FFA
Methanol & Catalyst
(FFA ≤ 5%) Degumming Removal Washing Recovery
Recovers excess methanol and
catalyst for next batch process
FFA Biodiesel (FAME)
Application 1

Methanol Recovery
Recovery of valuable feedstock from process effluents
Problem: Methanol (32 Da) is the most expensive input for the Biodiesel (Fatty Acid Methyl Esters)
biodiesel process, and is added in excess to ensure all of the Methyl palmitate (C16:0), 260-270 Da
used oil are converted to biodiesel. The excess methanol ends Methyl stearate (C18:0), 180-200 Da
up in the Glycerol (92 Da) by-product. Recovery of methanol Methyl oleate (C18:1), 280-300 Da
using evaporation and condensation contributes to GHG Methyl linoleate (C18:2), 280-300 Da
Methyl linolenate (C18:3), 280-300 Da
emissions and increases cost of biodiesel as a transport fuel.
Musa Idris Atadashi, Egyptian Journal of Petroleum, Volume 25, Issue 1, March 2016, Pages 21-31
SEPPURE Solution
Recovered SEPPURE SEPPURE

Methanol Biodiesel Stage 1 Glycerol Stage 2
+ Catalyst + Glycerol + Methanol
+ Methanol + Catalyst
+ Catalyst
Methanol
Vegetable Oil Pump + Catalyst
Methanol Energy
Catalyst
Transesterification Pump
Reactor Energy Biodiesel Glycerol
Circular Solution for Used Lube Oil
Used Lube Oil Dewatering Flash Distillation Fractionation Solvent Extraction Base Oil
Water Gas Oils Aromatics
Light Ends Other Components
Customers Lube Oil Blending Additives
Used lube oil recycling makes business sense and is better for the environment
800 million liters

Used lube oil are disposed annually vs
in the United States alone
318 Liters 5 Liters 8 Liters 5 Liters
Crude Oil Fine Lubricant Reclaimed Oil Fine Lubricant

Lube Oil Recycling
Solvent Extraction of Used Lube Oil Distillate
Problem: Recycling of used lube oil involve the removal of Utilisation in

chemical, physical and mechanical impurities. Recycling using a Base oil Lube Oil
Engines
solvent blend comprising Toluene (92 Da), Methanol (32 Da) and 1-
Butanol (74 Da) in equal proportion, provides maximum solubility for
base oil and minimum for additives carbonaceous. More solvent
leads to more sludge removal (e.g. Oil to solvent proportion of 1:3). Re-refining Collection Used Lube Oil
1. Egyptian Journal of Petroleum, vol. 27, no. 2, pp. 221-225, 2017 Used lube oil life cycle
SEPPURE Solution
SEPPURE
GreenMem
Solvent Hybrid System
Blend
Feed: Used Lube Mixing
Oil Distillate
Solvent Blend +
Aromatics
Pre-filtration Post-process
Used Lube Oil Distillate + Pump Base Oil
Solvent Blend (1:3) Energy
Lube Oil Dewaxing
Energy-Efficient Wax Removal from Lube Oil Raffinate
Problem: In solvent lube oil dewaxing, the raffinates are first dissolved in a
solvent blend mixture comprising Toluene (92 Da) and Methyl Ethyl Ketone (79
Da). The mixture is cooled to precipitate the wax component which is then
filtered out to obtain dewaxed lube oil (e.g. C25H52). The refrigeration process
consumes substantial energy and presents a bottleneck in the dewaxing
process, including the industry-standard Max-Dewax process (graphic insert)1,2.
1. Separation and Purification Technology, vol. 261, pp. 118278, 2021
2. Environmental Progress, vol. 20, no. 1, pp. 12-16, 2001 Max-Dewax process
SEPPURE Solution
SEPPURE SEPPURE
Solvent GreenMem 500 GreenMem 200
Blend
Feed: Waxy
Lube Oil Mixing
Solvent Blend
Pump (MEK + Toluene, 1:1)
Energy
Post-process
Pre-filtration
Waxy Lube Oil + Pump
Solvent Blend, (1:4) Energy Waxes Dewaxed Lube Oil
(C25H52)
Wax & Lipid Removal and Solvent Recovery
Example of Applications
1. Extraction of Hemp and Cannabis Oil

Step 1: Wax & Lipid Removal
Removal of undesirable compounds (Waxes (~1000Da), Lipids (~800Da), Chlorophyll (~900Da), Beta
Carotene (~536Da)
Step 2: Solvent Recovery

Partial concentration of THC (314Da) or CBD (314Da) and Recovery of Solvent e.g. Methanol (32Da),
Ethanol (46Da), and Acetone (58Da)

Wax & Lipid Removal and Solvent Recovery
Conventional Hemp and Cannabis Oil Extraction Process
Fractional
Extraction Winterization Filtration Colour Removal Evaporation Isolation
Distillation
Process with SEPPURE Nanofiltration Membranes

(Solvent recovery and partial
(Removal of waxes, color and unwanted compounds) concentration of CBD/THC)
OSN2: GreenMem Fractional
Extraction OSN1: GreenMem 500 Isolation
200 Distillation
Step 1: Wax & Lipid Removal Step 2: Solvent Recovery
Hemp Oil (CBD) or Cannabis Oil (THC)

/Undesirable Compounds (UC) e.g.
Waxes and Lipids/Solvent: Ethanol CBD or THC/Solvent GreenMem 200
CBD/THC: 1-10%
Filtration Unit
UC: 1-5%
Pure Solvent
Pump Energy GreenMem 500 Pump Energy

Filtration Unit
UC: ~100% CBD or THC: 60-70% Further Refining
until ~85% purity

Hydrocarbon Separations
Separation of n-Hexacosane (367Da) from n-Dodecanal (198Da) in n-Decane solvent (142Da) after hydroformylation1
Product Performance Hybrid Process

(in Study) GreenMem 200
n-Dodecanal/Solvent
n-Hexacosane :~0%
Membranes Used: Filtration Unit
1. BORSIG GMT ONF 1 (PDMS)

2. Evonik Puramem S380 (Silicon
coated polyimide) n-Hexacosane, n-Dodecanal, n-Dodecanal/Solvent
Solvent: n-Decane Pump n-Hexacosane :~0%
Feed: n-Hexacosane, n-Dodecanal,
Energy
Solvent: n-Decane
Temperature: 30°C, Pressure: 35 bar
n-Hexacosane /Solvent
n-Hexacosane: 60-70%
Solvent: Flux Cooling
Distillation
Rejection (%) Energy
n-Decane (LMH)
BORSIG 80 25 n-Hexacosane
/Solvent
Heating Energy
Evonik 72 10 n-Hexacosane: 98-99%
To solvent stripping unit
1
Micovic, J., et al., Hybrid separations combining distillation and organic solvent nanofiltration for separation
©2021 SEPPURE All rights Reserved of wide boiling mixtures. Chem. Eng. Res. Des. (2014), http://dx.doi.org/10.1016/j.cherd.2014.02.012 44
Homogeneous Catalyst
Recovery of Rhodium catalyst (~850Da) and ligand Recovery
(~650Da) from Octene (112 Da), Isononanal (142 Da) and
High boilers (300-450 Da) in organic solvent in hydroformylation1
Product Performance General Process
(in Study)
Feed: Rodium catalyst, Ligand,
Membranes Used: Light hydrocarbons (octene,
isononanal), Heavy hydrocarbons,
1. Starmem 122 (Polyimide Organic solvent GreenMem 500
membrane, MWCO 220Da) Filtration Unit
Feed: Octene, Isononanal, High
boilers, Bulky phosphite ligand,
Active catalyst complex
Pump Organic solvent, Light
Temperature: 30°C, Pressure: 35 bar Energy hydrocarbons
Concentration of
Permeability Rhodium Catalyst and
Rejection (%)
(kg/(m2 h bar) Ligand in feed tank
Starmem 122
90-99 0.7-1.2*
(discontinued)
*Permeability decline over the test period ranges from 25% to 30%. The reasons for this decline are further irreversible compacting of the membrane and the blocking of
the pores as well as deposition of solid matter from abrasion of the pumps on the membranes surface
1
Micovic, J., et al., Hybrid separations combining distillation and organic solvent nanofiltration for separation
©2021 SEPPURE All rights Reserved of wide boiling mixtures. Chem. Eng. Res. Des. (2014), http://dx.doi.org/10.1016/j.cherd.2014.02.012 45
Semiconductor Application: Removal of Impurities
SEPPURE Effectively Prevents Defects Due To Impurities

The slightest deviation in chemical formulations can be detrimental to process yield. This is especially pertinent
in semiconductor processes that require a high purity environment because the slightest increase in impurities
can cause irreversible defects.
SEPPURE’s chemically-resistant nanofiltration technology can effectively remove destructive particles and
unwanted components from chemical mixtures in harsh organic solvents.
For example, in photolithography, photochemical formulations are very complex. Nanofiltration is needed to
effectively remove destructive particles and gels from photochemicals without disrupting photochemical
integrity during the filtration process.1
1
©2021 SEPPURE All rights Reserved
Zhang, H., Ayubali, M., Andrews, J., Man, X., Antle, P., & Buschjost, R. (2008, February). Membrane compatibility for nanofiltration applications in DUV lithography. Solid State
Technology, 51(2), 42+. http://link.gale.com/apps/doc/A178677012/AONE?u=nantecun&sid=AONE&xid=b11a10b1 46
Removal of Impurities from BARC formulations
Problem: The production and application of the bottom anti-

reflective coatings (BARC) require precise control and uniformity to
achieve the desired process performance. BARC formulations are
acidic (pH~3) and comprises solvent, polymer and a light absorbing
compound. The filtration solution employed in the production and
recovery of the BARC must maintain the formulation’s integrity.
1
Solid State Technology (2008), 51(2), 42+.
2Advances in Resist Materials and Processing Technology XXV (2008), (Vol. 6923, p. 69233H).
SEPPURE Solution: SEPPURE

GreenMem
Filtration Unit
BARC Formulation +
BARC Formulation
Impurities
Pump
Energy Impurities

Removal of Impurities from Spent Solvents
Problem: The fabrication of semiconductors is highly chemical-intensive, especially the photolithography step. Two of the most
common solvents used in photolithography are propylene glycol monomethyl ether acetate (PGMEA) and Propylene glycol
monomethyl ether (PGME).1 Acetone is also frequently used as a cleaning solvent in the fabrication and packaging stages.
Impurities must constantly be removed frequently to maintain a certain level of purity in the permeate. SEPPURE’s membrane
technology can effectively remove impurities more than 5 nm and recover spent solvent for reuse.
1
Kim, S., Yoon, C., Ham, S., Park, J., Kwon, O., Park, D., … Kim, W. (2018). Chemical use in the semiconductor manufacturing industry. International Journal of Occupational and Environmental Health, 24(3-4), 109–118.

GreenMem
Filtration Unit
Solvent Solvent
(PGME/PGME/Acetone) + (PGME/PGME/Acetone)
Impurities
Pump
Energy Impurities

Semiconductor Application: Solvent Recovery
SEPPURE Eliminates Waste by Recovering Solvents for Reuse

Due to the lack of alternative solvent recovery methods, waste solvents are frequently incinerated in the
semiconductor industry.1 Even if the solvents can be recovered, common solvent recovery methods such
as distillation are energy-intensive, polluting and not economical.
To solve this challenge, SEPPURE’s nanofiltration technology can separate chemicals without heat and
recover pure solvents that can be reused. SEPPURE’s solution creates a closed-loop system that can
eliminate solvent waste and greenhouse gases (GHG) emissions while reducing operating costs.
1
Chaniago, Y. D., Khan, M. S., Choi, B., & Lee, M. (2014). Energy efficient optimal design of waste solvent recovery process in semiconductor industry using
©2021 SEPPURE All rights Reserved enhanced vacuum distillation. Energy Procedia, 61, 1451-1454. 49
Semiconductor Application: Solvent Recovery
PGMEA & PGME Recovery from Waste Photoresistor Thinners
Problem: Photoresists are essential in photolithography processes for Common Industrial Photoresists
coating treatment. When photoresist thinners, comprising mostly of PGME
and PGMEA, are used to remove unreacted photoresists, a large amount of
Fujifilm RER Series Dupont DUV
waste thinners is generated.1 Although the waste thinners are conventionally
recovered by distillation, it is highly energy-intensive and polluting. Brewer Science E2
Microchem SU-8
SEPPURE’s nanofiltration technology enables the recovery of high-value Stack Series
waste thinners sustainably without heat and at a lower cost.
1. Enhanced recovery of PGME and PGMEA from waste photoresistor thinners by heterogeneous azeotropic dividing-wall column (2016). Process Safety and Environmental Protection, 103, 413-423.

GreenMem
Filtration Unit
Photoresist waste (e.g.

PGME & PGMEA
Unreacted photoresists, Metal
ions, BARC Compounds),
PGME & PGMEA Pump
Energy Photoresist waste

SEPPURE Product Performance
SEPPURE is Compatible with Common Photolithography Solvents
Solvent Pure Solvent Flux @ 20 bar (L/H)
Acetone 1200
PGMEA 120
PGME 30
Pure solvent fluxes are based on 4040 industrial size module with an area of 25m2

SEPPURE Gas Technologies (by 2024)
Carbon Capture Membranes

65% of global greenhouse gas emissions are attributable to carbon dioxide that is emitted from the burning of
fossil fuels for industrial processes.1 One way for organizations to significantly reduce carbon emissions and meet
climate targets would be to separate CO2 from a gaseous mixture. The CO2 captured can be recycled into higher
value-adding products (e.g. fuels). SEPPURE’s membranes are a sustainable alternative to energy-intensive gas
separation methods like distillation as they can separate gases without heat.
Examples of Applications:
1. Syngas purification during pre-combustion: Separation of H2 from CO2
2. Flue gas treatment during post-combustion: Separation of CO2 from N2
Benefits2
>90% CO2 REMOVAL LOW ENERGY CONSUMPTION COST EFFICIENT
1IPCC (2014)
Giordano, L. et. al. (2018). Conceptual design of membrane-based pre-combustion CO2 capture process: Role of permeance and selectivity on performance and costs 52
Partnering with SEPPURE
Structured Approach to Technology Adoption in 3-phases
3 M O N T H S 6 M O N T H S 2 0 2 2 O N W A R D S
Trial/Pilot Semi-Industrial Full-scale Industrial
• In-house tests with customer- • Process & retrofit engineering • Process engineering & industrial
supplied samples and specifications • Industrial membrane system control systems integration
• On-site tests at customer’s facility performance & endurance tests • Long-term membrane supply
with SEPPURE’s modules • O&M regime development • Digital control & monitoring system

1. Laboratory Trial / In-Field Pilot (3 months)
• Process design and test plan development
• Selection of membrane product and fabrication of membrane modules
• In-house tests with customer-supplied samples or pilot tests at customer site with shipped modules
• Project reporting and recommendations for next phase
2. Semi-Industrial Stage (6 months)

• Process engineering and endurance test plan development
• Development of customized operations and maintenance regime
• Integration of control, monitoring and data collection system
• System installation and commissioning
• Project reporting and recommendations for next phase

3. Full-Scale Implementation
• SEPPURE provides complete solution package (industrial system + membrane modules)
• Return of Investment for CAPEX is expected to be within 2 years
• Reduction of OPEX and Carbon Emissions by 30-50%
Industrial System Membrane Modules

One-time investment Recurring savings
20 years lifetime 1-2 years lifetime
2 years ROI 30-50% OPEX reduction

Case Study
Current Solution
Large vegetable oil refinery
Pure Solvent
(Distillation)
(100k tons oil per year)
Distillation Unit
Cooling
Even with a hybrid system and initial CAPEX of $4 million for Energy
Oil + Solvent
membrane system, breakeven can be realized within 1 year Oil content Oil ~99%
of operation. Cumulative OPEX savings of over $6 million can 10%
be realized within 5 years of implementation.
Replacing distillation with SEPPURE’s membrane solution will

realise an ROI of 1 year and $6 million savings by Year 5
Heating
$20 $8 Energy
$18 SEPPURE Solution
Total savings, USD millions

Total cost, USD millions
$16 $6 (Hybrid Process)

$14
$12 $4 Pure Solvent
$10
$8 $2
Distillation Unit
$6 SEPPURE Cooling
$4 $0 Membrane Energy
$2 Oil + Solvent
$0 -$2 Oil content Oil ~99%
0 1 2 3 4 5 10%
Oil + Solvent
Year
Oil content
Savings Current solution (distillation) SEPPURE solution (membrane) 70%
Heating
Energy
Product Performance for vegetable oil separation
Example (1) Oil Rejection
Membrane Flux (L/m2h)
Feed: 10% Soybean Triglyceride (TG) and 90% Acetone (%)
Application: Solvent Recovery GreenMem 500-1 38.2 98.2
Temperature: 45 ºC, Pressure: 15 bar GreenMem 500-2 30.2 98.9
Example (2) Oil Rejection
Membrane Flux (L/m2h)
Feed: 10% Palm Oil and 90% Acetone (%)
Application: Solvent Recovery GreenMem 500-1 37 99.2
Temperature: 45 ºC, Pressure: 15-20 bar GreenMem 500-3 38 99.4
Performance comparison for vegetable oil application

10% soybean oil in acetone
Membrane GreenMem 500-1 Evonik Duramem 500*
Permeance
2.55 0.3
(L/m2h bar)
Rejection (%) 98.2 85.8
* Journal of Membrane Science 588 (2019) 117202 Oil/Acetone Pure Acetone

News & Awards
SEPPURE was featured at Our CEO, Dr. Farahani, has Our CEO, Dr. Mohammad Farahani, SEPPURE won the First Prize at
Channel NewsAsia during been selected as one of the was listed as Leader of Tomorrow at the "2020 Kunshan Innovation &
Singapore Green Plan 2030 MIT Technology Review Gen.T List of Leaders 2020 Entrepreneurship Challenge"
announcement "Innovators Under 35"!
Our Founder & CEO, Dr.

Mohammad Farahani, received SEPPURE wins the President's
“Founder of the Year” award at Innovation Challenge Award at
Origin Innovation Awards 2020 Tsinghua University by X-LAB
SEPPURE is placed amongst Singapore Business Review:
Singapore's 20 Hottest Startups SEPPURE turns chemical
separation processes greener

Recent Membrane M&A Activity
2014 2015 2016 2017 2018 2019 2020 2021
Acquisition of X Classic Tubular Acquired assets of UF Acquisition of RO

Acquisition of water filtration Acquisition of membrane Acquisition of air filtration Acquisition of spiral wound
Start-up NanoH2O for producer Microdyn-Nadir Membrane from Pentair membrane product line
Acquisition of RO/NF companies Jack Filter membrane company membrane company
from Lanxess
US$200 million membrane producer TCK Lufttechnik and Jack Filter Oltremare PolyCera Inc (Series A 2018)
(Founded in 2005) Membrane America Hungaria
Acquisition of air filtration
company Hardy Filtration
Acquisition of ultrafiltration Acquisition of water treatment
and microfiltration membrane and filtration company
producer IMT Solutions Acquisition of specialty Acquisition of filtration Acquisition of filtration
Aquapure Technologies
membrane company TriSep company Kuss Filtration company Keystone Filter
Corporation from PE firm Industrial Acquisition of filtration company
Opportunity Partners Hangzhou Anow Microfiltration
Acquisition of microporous in US$73 million cash deal
membrane company Acquisition of UF
Polypore Separations for Acquisition of air filter membrane business Inge
US$3.2 billion company Chimbault- GmbH from BASF
Acquisition of hollow fiber
Peyridieux
filtration company Acquisition of closed-circuit RO
Spectrum Inc company Desalitech Ltd,
hollow fiber UF and MBR Acquisition of hollow fiber
Acquisition of membrane
product line Memcor from
company Ultura membrane manufacturer
Evoqua and membrane WaterSep BioSeparations for
aerated biofilm reactor US$ 36 million (Seed
producer OxyMem Limited
Round 2017)
• These M&A activities are related to water applications or air separation markets which is a saturated market
• There are no known recent M&A for chemical-resistant membranes as it is a new market segment
• Early investors in this blue ocean segment will benefit from huge upside

IPO Success
Company Description Company Description

Producer of specialised filters for the semiconductor industry Producer of hollow fiber membranes for water treatment
Founding Date Founding Date

1966 2016
IPO Date IPO Date

Jul 2000 June 2021
No. of Years to IPO No. of Years to IPO

34 years 5 years
Market Cap Market Cap

Current market cap is US$19.55B (3/11/2021) Aimed to raise US$191M through IPO
Current market cap is US$650M (3/11/2021)

IPO Success
Company Description Company Description

Producer of water treatment membranes that incorporate Producer of microporous membranes
the use of aquaporin proteins
Founding Date
Founding Date 1996
2005
IPO Date
IPO Date June 2007 (Delisted on August 2015 as it was acquired by
Jul 2021 Asahi Kasei and 3M)
No. of Years to IPO No. of Years to IPO

16 years 10 years
Market Cap Market Cap

Raised US$39 million through IPO Raised US$285 million through IPO
Current market cap is US$214M (3/11/2021) In 2015, its market cap was US$2.7B

Seppure - Long Deck

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The Sustainable Solution to

Industrial Chemical Separation

> 10% of world’s

1.2 trillion liters

90% LESS < 2 YEARS

Conventional Membrane Conventional Membrane

Immersion in Dimethylacetamide (DMAc) solvent

Chemical crosslinking modification avoids that

Chemical agents are used as bridges among polymer chains;

©2021 SEPPURE All rights Reserved 6

80+ 1000+ km 2000+ 10

©2021 SEPPURE All rights Reserved 7

• Special chemical cross-linking that is stable and keeps

Hollow fiber module Spiral wound module

©2021 SEPPURE All rights Reserved 8

Vegetable Oil Hemp Oil Biodiesel Semiconductor Pharmaceutical Petrochemical

©2021 SEPPURE All rights Reserved 9

Solvent Solvent Crude

Biodiesel Vegetable oil

Solvent Used Refined Refining Solvent

©2021 SEPPURE All rights Reserved 10

Three-phase long term contract signed with

Paid trial completed with Cargill Europe,

©2021 SEPPURE All rights Reserved 11

One-time revenue (System sales)

REVENUE STREAM CUSTOMER

Recurring revenue (Module sales)

©2021 SEPPURE All rights Reserved 12

©2021 SEPPURE All rights Reserved 13

Separation speed (Flux) Very High Low Low Moderate

Pricing Low High Moderate Moderate

Temperature tolerance High Low Moderate High

Organic solvents, Organic Organic Organic

Packing density High Low Low Low

Maturity Pilot Industrial Pilot Pilot

SEPPURE’s product compared to the competition is more Revolutionary than Evolutionary

©2021 SEPPURE All rights Reserved 14

It takes 1 SEPPURE Module to complete the same job as 74 EVONIK Module

©2021 SEPPURE All rights Reserved 15

2015 2018 2019 2020 2021 2022 2023 2024 2025

R&D MEMBRANE SCALE-UP INDUSTRIAL PILOTS MANUFACTURING NEW PRODUCTS

©2021 SEPPURE All rights Reserved 16

Mohammad Farahani, PhD

©2021 SEPPURE All rights Reserved 17

©2021 SEPPURE All rights Reserved 18

CAPEX for R&D Other R&D Expenses

Wages & Salaries

©2021 SEPPURE All rights Reserved 19

Backed By Affiliations and Partners

©2021 SEPPURE All rights Reserved 20

©2021 SEPPURE All rights Reserved 22

SEPPURE’s technology replacing just

savings in electricity supply CO2e emissions Olympic-sized

From solvent-resistant membranes

©2021 SEPPURE All rights Reserved 24

Engineering Construction Production

Q1 2022 Q2-Q4 2022 Q4 2022

Factory planning and Equipment procurement, Membrane module

©2021 SEPPURE All rights Reserved 25

Innovation Strategic Collaborative Market Exploration Exhibitions &

Customer Discovery & Project Proposal (Middle of the Funnel)

Direct Proposal Innovation Grant Funding

Closing the Deal (Tip of the Funnel)

Pilot / POC Commercial