Cleantech company seeking capital as of January 18, 2012
This company says it is able to gasify organic wastes with extremely high efficiency and converting them to electric power (20-2000 kWe) and biofuels such as biomethanol, biodiesel, biogasoline and biohydrogen suitable for both the chemical industry and fuel cell systems. Filtration-free, it claims 99% efficiencies, which enables its technology to potentially serve as an inexpensive energy storage system (e.g. "biomass to biofuel to energy to biofuel to energy to biofuel"). Its technology is applicable to tar sands extraction and gas fracking/flaring waste conversion, it says.
Executive summary of company's business:
Bioleux Polska is the exclusive licensee of a process that it believes can cost effectively create a renewable form of CHP power and liquid fuels out of forestry industry waste and other inexpensive and plentiful organic feedstocks, including sorted municipal waste.
Bioleux claims its multi-patent protected filtration-free gasification process will enable it to produce its products in a CO2 neutral fashion, requiring little power input. It uses a corona-discharge electric process, breaking down complex organic compounds into residual CO2 and combustible CO and H2 (syngas). Chemically identical to fossil fuels and chemicals, its products are intended to be transportable in existing distribution channels.
Planning to develop and license equipment to others, Bioleux is also targeting becoming an independent electric power producer (IPP) itself, seeking funding for its own plants and selling power as a product into the grid. Its primary customers could be power utilities, which appear interested in purchasing its power—even if up to 25% more expensive than fossil-based natural gas—so as to make baseload renewable power without the more expensive proposition of building non-dispatchable wind or solar farms. There is enough available, accessible and renewable forestry biomass waste in the U.S., Asia and EU to displace a significant portion of these regions’ power demand, Bioleux says, especially in isolated areas currently experiencing very high fossil energy prices.
Configured as distributed, modular and infrastructure-independent power plants, Bioleux believes its equipment has the potential to improve quality of life through improved access to electricity and biofuels, using local feedstocks, with little fossil fuel-consuming transportation.
Competitors:
The company asserts it has no real competition for its specific technology; competition (such as GEVO, or Ballard's Korean partner generating renewable hydrogen) has inefficient technologies or rely on feedstock incineration which pollutes, Bioleux claims.
Differentiation vs. competitors:
All fossil and renewable power generation and fuel companies rely on filtration of their process media. Bioleux claims its technology converts hitherto filtered-out organic compounds (including tars, soot and volatile compounds) into more process gas, increasing overall conversion efficency.
Key team members:
Martin Mizera, Founder and General Manager (in lieu of CEO) - masters in mechanical engineering, engineering physics, 30 years in automotive industry (Magna International, General Motors, Ford Motor Company), responsible for body engineering on several domestic and foreign car/truck models and project management. Involved with ethanol conversion 2005-2011. Concurrently managed several small & innovative LLC companies in the U.S., Europe and Canada. Dr. Stan Lugowski, Scientific Advisor - University of Toronto organic lab manager. Dr. Henryka Olbrot, Scientific Advisor - specialist in catalytic feedstock conversion. The company plans to hire a VP Sales & Marketing and VP Manufacturing from the proceeds of its current investment round.
Existing investors and capitalization details:
Personal funding from December 2009 to date, imminent investment from a spin-off technology from ARLEG business incubator in Poland ($250,000) not involving equity in the main company. Expected EU industrial commercialization grant in 2012 (ca. $3,000,000).
Capital sought & use of proceeds:
The company is initially seeking series A investment of approximately $900,000 for prototyping of 3 demo plants. It expects it will need $3-5M in series B after successful demo trials late in 2012 to support expected equipment orders. Early licensing revenue, equipment sales, power revenues and further EU grants are expected to decrease the need for series B capital at the end of 2012.
Characteristics of ideal investors:
Knowledge of the renewable energy industry and a strong desire to contribute to a sustainable technology. And/or industrial partners capable of supporting the technology commercialization in exchange for geographic licenses.
Przylegow 24 Suite 200
Zarow, DO 58-130
Poland
http://maps.gstatic.com/intl/en_ALL/mapfiles/openhand_8_8.cur), default; padding: 0px; margin: 0px; border: 0px initial initial;">
Kachan & Co. (Kachan) is not registered as an investment dealer or advisor with any securities commission or similar regulatory authority in any jurisdiction and cannot and will not have any involvement in any transaction that may take place between the Company above and any prospective investor. Kachan will not a) discuss any matters with the Company or investors that requires familiarity with securities, b) advise the Company or investors on the merits of particular investments, securities, any proposed listing of securities on any exchange or quotation service or otherwise provide securities advice, c) participate in negotiating the terms of any transaction, or d) handle funds or securities in connection with any transaction. The Company has entered into an agreement with Kachan to pay a finder's fee upon the successful completion of an agreement between the Company and any prospective investors or customers to which an introduction was facilitated by Kachan.
Kachan & Co. (Kachan) is not registered as an investment dealer or advisor with any securities commission or similar regulatory authority in any jurisdiction and cannot and will not have any involvement in any transaction that may take place between the Company above and any prospective investor. Kachan will not a) discuss any matters with the Company or investors that requires familiarity with securities, b) advise the Company or investors on the merits of particular investments, securities, any proposed listing of securities on any exchange or quotation service or otherwise provide securities advice, c) participate in negotiating the terms of any transaction, or d) handle funds or securities in connection with any transaction. The Company has entered into an agreement with Kachan to pay a finder's fee upon the successful completion of an agreement between the Company and any prospective investors or customers to which an introduction was facilitated by Kachan.
Kachan has not verified the information provided by the Company and makes no warranties or representations regarding the truth, accuracy or completeness of the information provided by such. Kachan is not responsible for the release of any confidential, restricted or proprietary information provided by the Company above.
