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Yale red ox presentation draft 1

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  • 1. Total Contacts: 96Red Ox’s Electrochemical Desalination Cell 1. desalinates brine, a waste product from oil & gas and other industries 2. generates electricity quietly and 3. produces bulk inorganics that can be sold as commodities.André Taylor (PI) David Kohn (EL) Tom Livingston (IM) National Science Foundation Innovation Corps Program May 23, 2012
  • 2. André D. TaylorCo-inventor of the EDC, his research focuses on nanomaterial synthesis and assembly forelectro chemical systems. He is a recent recipient of a Presidential Early Career Award forScience and Engineering. He will advise on electrocatalysis and electrode design.David KohnAs lead inventor of the EDC, David brings passion and know-how to the Red Ox team. Afterreceiving his B.S. in Engineering last year, the Connecticut Technology Council sponsored aPost-Graduate Fellowship at Yale so he could continue to develop the EDC. He will focus ontechnological development and strategy.Thomas LivingstonFormer Vice President and Secretary of Applied Biosystems Inc. He has recentlyserved as a key mentor to two successful ventures licensing Yale technology. He willadvise on legal affairs and general business strategy. 2
  • 3. Co-Founder Co-Founder & Advisor-Desalination Advisor-Sustainability Claire Henly Meny Elimelech Marian Chertow Claire just received a B.S. in Co-inventor of the EDC, his Her research focuses on Environmental Engineering at Yale. research focuses on osmotic Industrial Ecology. She is a She brings a unique mix of business processes for desalination. former president of the and scientific rigor to the Red Ox He helped found and Connecticut Resources has continued to advise Oasys Water, a Recovery Authority and has advised venturesteam. She previously worked for McKinsey & low energy forward osmosis desalination in the waste to value space. She will adviseCompany, Goldman Sachs, and BHP Billiton. company. He will advise on desalination Red Ox on monetization of waste recoveryShe will focus on day to day operations & markets and membrane technology. and sustainable business development.business and customer development. Mentor-Chemical Markets Mentor-Strategic Partnerships Mentor-Finance Neil A. Burns Christopher McLeod Joseph Lane Currently CEO of P2 Former President of Principal at Sinter Science, he brings 20 454 Life Sciences, Partners and former years of experience in he brings a strong President of IBM the chemical industry. background in Credit Corp and IBM He will advise on issues relating technology development and Global Financing to marketing, licensing and scaling. He will advise on he brings decades of financial developing the EDC and related strategic partnerships and expertise and will advise on products. technology design for scale-up. funding and marketing.
  • 4. What we thought: PROBLEM Problem 1: 59 kg of CO2 are released to make electricity to produce 100 m3 potable water Problem 2: Desalination produces environmentally harmful brine waste Problem 3: Valuable salts from brine waste streams are not recovered2 Please Keep Confidential
  • 5. What we thought: SOLUTION Solution 1: 55 kg of CO2 are consumed to make electricity to produce 100 m3 potable water Solution 2: The EDC produces no waste Solution 3: Valuable salts are produced using brine waste streams as feedstock4 Please Keep Confidential
  • 6. What we thought1. Desalination 2. Oil and gas productionPhoto 1: Kay Bailey Hutchison desalination plant Photo 2: a hydraulic fracturing site nearin El Paso Tx. Morgantown Pa. 6 Please Keep Confidential
  • 7. What we did: 7 Please Keep Confidential
  • 8. What we learned: 1. Desalination 2. Oil and gas production Photo 1: Kay Bailey Hutchison desalination plant Photo 2: a hydraulic fracturing site near in El Paso Tx. Morgantown Pa. 8 Please Keep Confidential
  • 9. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments-Manufacturers -Engineering -Turns waste cost -Service -Inland desalination-Utilities customization into revenue -Customization plants-Regulators -Decreased input -Link to value add -Industrial brine -Learn regulatory-Utility Commissions costs / volatility in industrial producers landscape -Quiet electricity ecosystem -Hydrofracking-Inland and coastal -Foster relationships on-site -Improve public operationsdesalination plants with stakeholders image-Industrial brine -Hiring & retention -Decreased liability -Chemicalproducers Key Resources -Better public Channels distributors-Hydrofracking image -Chemical End Usersoperations -People -Decreased -B2B marketing -Chemical Producers -Intellectual permitting time -Service property-Chemical agreements -CO2 sequestration -Licensingdistributors -Brand -Utilities -Energy efficiency arrangements-Chemical Producers -Relationships with -Fuel Cell Mfgs stakeholders and partners Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D -Operation and -Service contracts -Electricity sales–Prototyping maintenance -Engineering consulting -REC sales-Legal fees (IP, Licensing, -Sales and Marketing fees -Brine treatmentRegulatory) -Strategic Partnerships contracts
  • 10. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments-Manufacturers -Engineering -Turns waste cost -Service -Inland and coastal-Utilities customization into revenue -Customization desalination plants-Regulators -Decreased input -Link to value add -Industrial brine -Learn regulatory-Utility Commissions costs / volatility in industrial producers landscape -Quiet electricity ecosystem -Hydrofracking -Foster relationships -Inland and coastal on-site -Improve public operations with stakeholders desalination plants image -Hiring & retention -Industrial brine -Decreased liability -Chemical producers Key Resources -Better public Channels distributors -Hydrofracking image -Chemical End Users -People operations -Decreased -B2B marketing -Chemical Producers -Intellectual permitting time -Service property-Chemical agreements -CO2 sequestration -Licensingdistributors -Brand -Utilities -Energy efficiency arrangements-Chemical Producers -Relationships with -Fuel Cell Mfgs stakeholders and -DOESN’T CAUSE partners EARTHQUAKES Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D -Operation and -Service contracts -Electricity sales–Prototyping maintenance -Engineering consulting -REC sales-Legal fees (IP, Licensing, -Sales and Marketing fees -Brine treatmentRegulatory) -Strategic Partnerships contracts
  • 11. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments-Manufacturers -Engineering -Turns waste cost -Service -Inland and coastal-Utilities customization into revenue -Customization desalination plants-Regulators -Decreased input -Link to value add -Industrial brine -Learn regulatory-Utility Commissions costs / volatility in industrial producers landscape -Quiet electricity ecosystem -Hydrofracking -Foster relationships -Inland and coastal on-site -Improve public operations with stakeholders desalination plants image -Hiring & retention -Industrial brine -Decreased liability -Chemical producers Key Resources -Better public Channels distributors -Hydrofracking image -Chemical End Users -People operations -Decreased -B2B marketing -Chemical Producers -Intellectual permitting time -Service property-Chemical agreements -CO2 sequestration -Licensingdistributors -Brand -Utilities -Energy efficiency arrangements-Chemical Producers -Relationships with -Fuel Cell Mfgs stakeholders and -DOESN’T CAUSE partners EARTHQUAKES Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D -Operation and -Service contracts -Electricity sales–Prototyping maintenance -Engineering consulting -REC sales-Legal fees (IP, Licensing, -Sales and Marketing fees -Brine treatmentRegulatory) -Strategic Partnerships contracts
  • 12. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments-Manufacturers -Engineering -Turns waste cost -Service-Utilities customization into revenue -Customization -Hydrofracking-Regulators -Decreased waste -Link to value add operations -Learn regulatory-Utility Commissions costs in industrial -Inland and coastal landscape -Decreased input ecosystem desalination plants -Foster relationships -Inland and coastal costs / volatility -Improve public -Industrial brine with stakeholders desalination plants -Quiet electricity image producers -Hiring & retention -Industrial brine on-site producers Key Resources Channels - Electric Utilities (for -Decreased liability energy efficiency -Hydrofracking -Better public -People investments) operations image -B2B marketing -Intellectual -Decreased -Service property-Chemical permitting time ? agreements -Chemicaldistributors -Licensing -Brand distributors-Chemical Producers -Relationships with -DOESN’T CAUSE arrangements -Chemical End Users stakeholders and EARTHQUAKES -Chemical Producers partners Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D & Prototyping -Operation and -Service contracts -Electricity sales-Legal fees (IP, Licensing, maintenance -Engineering consulting fees -REC salesRegulatory) -Sales and Marketing -Strategic Partnerships -Brine treatment contracts
  • 13. Market Source : Global Water Intelligence TAM: $5 bn/yr SAM: $3 bn Target: $0.5 bn
  • 14. Traditional methods to dispose of saline brine include: Deep well injection Evaporation Pits Photo 4: a small deep well injection rig Photo 5 : a typical wastewater evaporation pit 14 Please Keep Confidential
  • 15. Thought: Problem in the Marcellus Texas:~50,000 Class II Disposal Wells (at least 80% for enhanced recovery) Pennsylvania: 8 Class II Disposal Wells
  • 16. Did: Holy Shit Moment $3.95/bbl if you take NaCl brine back with you $7.95/ bbl if you don’t
  • 17. Thinking…
  • 18. Learning… Freshwater Flowback Produced Water Water Onsite Primary Treatment Water and Reuse Treatment Disposal Well / Evaporation Pond / Evaporator Secondary Treatment Discharge
  • 19. Learning…. Service Well Owner Providers (Fracking, Onsite recycling) Engineering Firms Regulators (Water Rights, Disposal, Primary Permitting) Treatment Facility Technology Developers / Vendors Secondary Treatment Contractor Disposal Companies
  • 20. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments -Manufacturers -Engineering -Turns waste cost -Service -Hydrofracking MEMBRANE customization into revenue -Customization operations -Utilities -Decreased -Link to value add -Water Treatment -Know regulatory for Hydrofracking -Regulators disposal costs in industrial landscape (Especially -Engineering firms -Decreased input ecosystem -Foster relationships Produced Water)-Inland and coastal with stakeholders costs / volatility -Improve public -Quiet electricity image -Inland and coastaldesalination plants -Hiring & retention on-site desalination plants-Industrial brine Key Resources Channels -Industrial brineproducers -Decreased liability producers-Hydrofracking -People -Better publicoperations image FOR -B2B marketing - Electric Utilities (for -Intellectual CLIENTS -Possibly energy efficiency-Chem. distributors property -Decreased distributors/ investments)-Chemical Producers conferences -Brand permitting time ? -Chemical -Service -Relationships with distributors-Other frac water -DOESN’T CAUSE agreements stakeholders and -Chemical End Userstreatment startups partners EARTHQUAKES -Licensing -Chemical Producers arrangements Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D & Prototyping -Operation and -Service contracts -Electricity sales-Legal fees (IP, Licensing, maintenance -Strategic Partnerships -REC salesRegulatory) -Sales and Marketing -Brine treatment contracts
  • 21. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments -Manufacturers -Engineering -Turns waste cost -Service -Water Treatment -Membrane Mfgs customization into revenue -Customization for Hydrofracking -Utilities -Decreased -Link to value add (Especially -Know regulatory Produced Water) -Regulators disposal costs in industrial landscape -Inland and coastal -Engineering firms -Decreased input ecosystem -Foster relationships desalination plants-Inland and coastal with stakeholders costs / volatility -Improve public -Quiet electricity image -Industrial brinedesalination plants -Hiring & retention on-site producers-Industrial brineproducers Key Resources -Decreased liability Channels - Electric Utilities (for-Hydrofracking -People -Better public -B2B marketing energy efficiencyoperations -Intellectual image FOR -Possibly investments)-Chem. distributors property CLIENTS -Decreased distributors/-Chemical Producers -Chemical permitting time ? conferences -Brand distributors -Service -Relationships with -Chemical End Users-Other frac water -DOESN’T CAUSE agreements stakeholders and -Chemical Producerstreatment startups partners EARTHQUAKES -Licensing arrangements Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D & Prototyping -Operation and -Service contracts -Electricity sales-Legal fees (IP, Licensing, maintenance -Strategic Partnerships -REC salesRegulatory) -Sales and Marketing -Brine treatment contracts
  • 22. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments -Service-Manufacturers -Engineering -Turns waste cost -Customization -Water Treatment -Link to value add in-Integrators customization into revenue industrial ecosystem for Hydrofracking -Improve public image-Membrane Mfgs -Decreased Oil and Gas -Know regulatory (Especially-Engineering firms disposal costs and -Make it easy for landscape Produced Water)-Utilities volume them to get rid of -Foster relationships -Service Providers -Decreased input their waste-Hydrofracking with stakeholders for Oil and Gas costs / volatility -Brand = good PRoperations -Hiring & retention -Oil and Gas and freshwater-Service providers Owner/Operators Key Resources volume Channelsfor oil and gas -Quiet electricityindustry -People -Intellectual -B2B marketing -Chemical-Chem. distributors -Better public property -Possibly distributors-Other frac water image for clients distributors/ -Chemical End Userstreatment startups -Brand -Decreased conferences -Chemical Producers -Relationships with permitting time -Oil &gas well-Environmental stakeholders and service providersGroups/Regulators partners -DOESN’T CAUSE EARTHQUAKES Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D & Prototyping -Operation and -Service contracts -Electricity sales-Legal fees (IP, Licensing, maintenance -Strategic Partnerships -REC salesRegulatory) -Sales and Marketing -Brine treatment contracts
  • 23. Met/called or scheduledDoing… Have connections waiting til connection made Called no return NEED CONNECTION if you have please help! Gas/oil well service providers, engineering Gas/oil well owner operators firms and smaller treatment plants/services What’s in it for them? They want to What’s in it for them? They want lower costs lower costs and be on cutting edge of and to be able to take the market for water technology, some good for PR, mostly services/offer better services to clients. They want a service agreement want to license/own the technology. Some Range Resources plants want a service. EQT Hess Corporation Hart Resources Carrizo Oil and Gas HydroRecovery Talisman Energy Schlumberger Chesapeake Energy Chester Engineers BP Halliburton Chevron Process Plants Corporation Exxon Mobil Integrated Water Technologies CONSOL Energy Aquatech WPX Venture Engineering Energy Corp of America
  • 24. Met/called or scheduledDoing… Have connections waiting til connection made Called no return NEED CONNECTION if you have please help! Membrane and Technology Developers/Providers Fuel Cell Manufacturers / Developers What’s in it for them? They want to What’s in it for them? They want to get into a offer a better/more integrated / cheaper new market, and want a cut of profits / solution. Likely want to own/license the manufacturing contract / license or own technology. technology. Oasys Lesico PWA ProFlow Hart Resource Tech Fuel Cell Energy Asahi Glass Co. Ballard Tokuyama UTC Power MiOx GE Power GE Water and Power Other OEM’s for these companies in NanoH2O the area Veolia Water Siemens Aquatech Ecosphere Technologies Altela/Casella
  • 25. Learning… From talking with owner operators this week: 1. Learned more about pricing 1. TRANSPORT COSTS HUGE 2. Reuse may be dominant for a few years for many, but looking ahead 2. Learned about how they deal with new tech 1. Often want service agreement which can help with getting capital 2. Sometimes will put up own capital 3. Often a little skittish about talking 3. Would like a full solution…need to integrate
  • 26. Next Hypothesis... MVP
  • 27. Key Partners Key Activities Value Customer Customer -R & D Propositions Relationships Segments-Manufacturers -Engineering -Turns waste cost into -Water Treatment-Integrators customization revenue -Make it easy for for Oil and Gas-Membrane Mfgs -Decreased them to get rid of (Especially -Know regulatory disposal costs and their waste Produced Water)-Engineering firms landscape volume -Brand = good PR -Service Providers -Foster relationships -Decreased for Oil and Gas-Hydrofracking with stakeholders transport costs -Oil and Gasoperations -Hiring & retention -Decreased input Owner/Operators-Service providersfor oil and gas costs / volatility and Key Resources Channelsindustry freshwater volume-Oil and Gas -People -Quiet electricityOwner/Operators -Intellectual -B2B marketing -Chemical property -Better public -Possibly distributors-Other frac water image for clients distributors/ -Chemical End Userstreatment startups -Brand -Decreased conferences -Chemical Producers -Relationships with permitting time -Oil &gas well-Environmental stakeholders and service providers/Groups/Regulators -Doesn’t Cause partners Earthquakes manufacturers Cost Structure Revenue Streams-People -Manufacture / Capital -Royalties from licenses -Chemical sales-R & D & Prototyping -Operation and -Service contracts -Electricity sales-Legal fees (IP, Licensing, maintenance -Strategic Partnerships -REC salesRegulatory) -Sales and Marketing -Brine treatment contracts
  • 28. Next few slides are what welearned the last few weeks andwhere we go from here (ie newBMC’s and new knowledge frommuch more in depth meetingswith folks). End with severalBMC’s that represent differentoptions for different stages ofthe company and development.