We recently had the opportunity to share the story of International Furan Technology (Pty) Ltd at the WFC2015 XiV World Forest Congress in Durban. The slide's narrative, which follows-on from Gianluca's theme of the Sleeping Beauty, can be downloaded from dalinyebo.com/downloads/wfc2015.

1. Financing the Development & Commercialisation
of Novel Biorefining Technology: The Furfural Case
from Lab-bench to US$30million Commercial Plants & IP Sale
Philipp Steiner
CEO and Co-founder of

3. Lignin, 40% Cellulose, 15-30% Hemicellulose
A top 30 most important chemical building block.
Only made from biomass.
Furfural

4. Origin?
Mainly made from
sugarcane bagasse and/or
corncob.
Also: Pulp mill effluent
Produced since 1920s
Many uses (incl. rocket
fuel in the late 1940s)
Flavour
It is rated GRAS

5. Pharma, Ag-chem, Industrial Chem.
400,000 tpa and upto CAGR 25%
Markets 1
2
7
3
4
56

6. Technology Renaissance
Venture Capital
A Path Less Travelled
Own Money at Risk | Private Investors
“Retired” Industry Insiders | Proven Concept (Pilot Plant)

7. Collaboration: University staff, subcontractors,
consulting engineers and the IFT core team.
Team
Entrepreneurs Industry Experience Engineers Academics
Equipment Manufacturers (Furfural/Chemicals) Traders

8. Recognition for Innovation and Contribution
to Biosciences in South Africa
Awards (several)
Academic Output and Masters Studies

9. Greenfields | Bolt-on
From Concept to Commissioning
Biorefineries(@US$30 million)
(Pre-)Feasibility Studies | Business Plans | Design and Construction

10. B&BMarket
MarketDrivers
THF growing (in some territories) at 12% pa to a 800,000 tpa market by 2017

11. Wood Modification
Fiber composites
Synergy

12. Early Stage
Funding
(not just
incentives)
Loan Guarantees
(not just incentives)
Project
Finance
(for small
projects)
(Inourexperience)
What’smissing?
(Real)
Venture
Capital

13. Observation:
Forest industry is very cautious (slow).
No/Little collaboration with “outsiders”.
In Conclusion:
Furfural factories are some of the oldest (= low risk) Biorefineries.
Need to be close to the biomass (forest or pulp mill).
(Bolt-on) technology available for easy process integration.
CO2 Negative – Reduces energy in pulp mills.
We have market access (off-take agreements!).
Making furfural is not rocket science (low capital and low risk).
A Market is waiting.

14. Philipp Steiner
philipp@ift.co.za
+27.83.264.5033