Tim Bothwell
Riverside, CA (USA)
Role(s):
Founder/Owner/Principal
Bothwell enterprises
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Startup
Location:
riverside
Industry:
Manufacturing
Year Founded:
1999
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"C" Corporation
Description:
THE PRODUCT
The Bothwell Plank System is a unique scaffolding plank system that is bringing the scaffolding Industry into the 21st century. It is the only plank on the market made of composites and plastics, and will outperform all existing scaffold planks on the market. The Bothwell Plank System was first produced five years ago and has since been through extensive field testing resulting in engineering improvements that make the system a strong and competitive product on the market. Independent third party testing has shown the plank system to be compliant with standards throughout the globe.
THE MARKET
Although the planks have found small niche markets such as ballast tank maintenance, The Company’s biggest success has been identifying the Nuclear Plant Maintenance industry through Southern California Edison. This market found the Bothwell Planks to be safer but also highly cost effective as a result of the products’ decontamination capabilities.
Nuclear power plants typically follow a 24 month cycle where power is generated for 18 months, followed by a six month shut down period for maintenance and refurbishment. A plant could use up to 40,000 planks during a six month shutdown. Purchase and hazardous waste disposal cost of wood scaffolding plank can reach $100.00 per plank indicating cost up to $4,000,000.00 on each shutdown period per plant. The application of the Bothwell plank system to such a plant would cost $6,000,000.00 but could be reused up to five times realizing a savings of up to 75% over 5 projects.
THE COMPANY
Bothwell enterprises Inc. was founded in 1999 for the sole purpose of bringing a plastic scaffolding plank to market. The company is closely held with 63 Shareholders who have raised over $1.5 million over 10 years to develop, test, and market the product. The company currently holds three issued patents and anticipates two additional patents issuing shortly. The company has identified a $100,000,000.00 market that will bear the cost of the Bothwell plank and is seeking investment capital to fund an aggressive marketing and sales campaign to become a scaffolding supplier to the world wide nuclear industry. The company will sell between 10% and 45% in equity to acquire the needed investment capital.