Glenn Doty
Columbia, SC (USA)
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Doty Energy
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Startup
Location:
Columbia
Industry:
Energy
Year Founded:
2008
Number Employees:
10-50 people
Description:
We are developing a system to convert CO2 and water into liquid fuels - such as gasoline, diesel, jet fuels, and ethanol.
This can be done through three consecutive chemical reactions, and of course energy input.
We have 3 innovative technologies that we have patented to enable reasonably high system efficiencies (~60% electricity-to-fuel). Each of these technologies are independently marketable and profitable. So while we are confident that we will be able to fully develop all of the innovations and integrate them into a full WindFuels system, only one of the innovations needs to be developed for us to become a multi-billion dollar industry.
When WindFuels is ready for deployment (likely in 6-8 years, after 3 successive capital campaigns) each new plant is expected to yield more than 30%, and possibly as high as 50% (depending on the price of oil) ROI.
We expect to use off-peak energy in high-wind areas to reduce the cost of the electricity required (currently power companies often have to pay to get rid of their excess electricity to protect their grid in these regions - this is known as "negative pricing").
We expect cap-and-trade to pass and dramatically lower the price we will have to pay for CO2.
Therefore, while our technology would be competitive with crude oil at $50/bbl, we expect the production costs of WindFuels to be considerably lower in the future.