Thomas Corle
Lancaster, PA (USA)
Role(s):
Founder/Owner/Principal
New Energy Blue llc
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Startup
Location:
Spiritwood
Industry:
Energy
Year Founded:
2016
Number Employees:
50-100 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
New Energy Investors was formed to seize an immediate opportunity in a recently emerged sector of the green energy industry. The sector is biomass refining, which has been flying under the green energy radar and is finally on the cusp of commercial break-out. New Energy Investors was formed in 2015, though most of its principals have been working in the biofuels sector for two decades or more building out first generation grain ethanol plants before turning their direction to second generation ethanol made from Nature's wastes.
New Energy expects to achieve market leadership in cellulosic ethanol production by launching and deploying our proprietary technology and business platform: the New Energy Biomass Refinery™. These refineries will produce the new generation of green automotive fuel (cellulosic ethanol) and base-load electric power (from lignin pellets), using a Danish biomass conversion technology that’s been rigorously proven and extensively optimized over the past 20 years. The technology will have a major Danish power company guaranteeing the process. The projects also will obtain a loan guarantee on the debt from the Danish export agency.
Starting with our first project at Spiritwood, North Dakota, we are now developing our first biomass refinery that will turn Dakota wheat straw and corn stalks into fuel ethanol to feed the billion-gallon California market. California pays on ton of carbon saved below the baseline of gasoline to the transportation sector. Our first project will be one of the lowest carbon fuels marketed today. The California market alone is over a billion gallons of biofuels so it would take 70 of our projects to meet its current demand.
New Energy Spirit Biomass Refinery in North Dakota will meet our key criteria:
1) High financial returns;
2) exceptionally low-carbon processes and products;
3) long-term, sustainable operations.
New Energy’s management team has extensive expertise and experience in finance, process engineering, marketing, biochemistry, renewable fuels, agriculture, and business and project development. New Energy is applying this knowledge to financing, building, and operating high-quality projects in our pipeline.
We are seeking $2 million into the company that is developing our first refinery project today and expect to build out others upon our commissioning. Exit strategy is to go public probably after our third project.