Igor Kocis - Geothermal Anywhere - Stanford Engineering - Feb 11 2013


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Cleantech startup out of Slovakia

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Igor Kocis - Geothermal Anywhere - Stanford Engineering - Feb 11 2013

  1. 1. We are developing a groundbreaking drilling system PLASMABIT™ capable of drilling to deep depths more than: 5 times CHEAPER than any of todays methods 4 times FASTER than other drilling procedures 3 times STABLE well than mechanical drilling 2 times DEEPER than common drill hole 1 PROCESS for casing and drilling 0 TRIPPING and drilling bit replacement Igor Kocis, CEO, Geothermal AnywhereEuropean Entrepreneurship & Innovation Thought Leaders Stanford Engineering February 11 2013
  2. 2. PLASMABITOverview Deep drilling technology Geothermal market, Oil & Gas market, Mining Faster, Cheaper, Deeper, Safer October 2012 – field test prototype Expert 35 member team Contracts with Forbes 2000 companies www.GeothermalAnywhere.com 2
  3. 3. PLASMABITProblem / Opportunity People who need energy From where? From under the ground Drilling costs  the challenge  4km~4M€  reduce! Oil&gas drilling sector market value is $119B in 2011, estimation in 2016 is $188B Oil&gas market Geothermal market www.GeothermalAnywhere.com 3
  4. 4. PLASMABITProduct / Technology Plasma drilling system PLASMABIT Cost-effective drilling for deep wells Linear increase of cost per depth contrast to exponential Well stability continuous casing-while-drilling Onshore/offshore www.GeothermalAnywhere.com 4
  5. 5. Technology PLASMABITDrilling using PLASMABITPLASMABIT subsystems: Movement: Interface: Water pipeline Carrier rope Power supply www.GeothermalAnywhere.com 5
  6. 6. Technology PLASMABITDrilling Costs - PLASMABIT Savings Hard rock case studyDays 100% Pipes Connection 80 Tripping / Cleaning Casing 70 ContiCase - Casing while Drilling 60 63% Rig logistics Drilling 50 40 Length of the borehole: 23% 4.5 km / 15,000 ft 30 Conventional drilling cost: $6.5M 20 PLASMABIT with ContiCase 10 and enhanced ROP cost: $1.7M 0 Additional fixed savings: Conventional PLASMABIT PLASMABIT with ~$600k drilling drilling ContiCase and (*ROP 4m/h) (*ROP 4m/h) enhanced ROP (8m/h)*ROP – Rate of penetration www.GeothermalAnywhere.com 6
  7. 7. Technology PLASMABITOur breakthroughs – achieved and future milestones Aug 2012 Sep 2012 Dec 2010 2nd generation of Continuous casing plasmatron scale while drilling PLASMABIT 1:10, pulsed mode Proof-of-the- Field Prototype concept Non-contact drilling Well stability Demonstration Dec 2013 Dec 2014 Jun 2013 High temperature >10 m depth PLASMABIT improved ROP Rig drilling system Drilling System PLASMABIT PLASMABIT Pilot Well prototype Drilling speed Demonstration Demonstration www.GeothermalAnywhere.com 7
  8. 8. PLASMABITBarriers of Entry Interdisciplinary expert team Senior technology leaders and advisors Initial capital (9M€) Deep drilling center with top infrastructure Technology stage and Patent portfolio 10 patents and patent applications www.GeothermalAnywhere.com 8
  9. 9. Technology PLASMABITINTELLECTUAL PROPERTY RIGHTS GA has finalized and applied for a set of patents protecting the PLASMABIT IPR Patent Patent Overview Patent Stage Equipment for excavation of deep drill holes in geological formation New drilling PCT/SK2008/050009; EU EP08767327.3 and the manner of energy and material transportation in the drill concept US 12/666,224; Slovak PP5087-2007 holes Advanced Equipment for realization of deep boreholes and method of PCT/SK2010/050002; EU EP10703136.1 drilling platform realization of deep boreholes US 13/148,032; Slovak PP 5011-2009 Advanced PCT PCT/SK2010/050016; Method and equipment for disintegration of materials drilling method Slovak PP 5062-2009 Virtual water plasma Virtual water plasma generator and method for generating of Slovak PP 5046-2011 generator electric thermal plasma Thermo-mechanical Breaking up rocks with its melting, and interaction of water streams Slovak PP 5045-2011 drilling method Parallel thermal plasma Thermal plasma generation system for parallel generation of Slovak PP 5044-2011 generators thermal plasma and process of parallel thermal plasma generation Electrode Autonomous governor of the plasma generator Slovak PP 5048-2011 movement electrodes movements Method of rock Method of rock disintegration and equipment Slovak PP 5047-2011 disintegration for performing of disintegration Another two utility models applications in filing process, new patent applications in preparation www.GeothermalAnywhere.com 9
  10. 10. PLASMABITStrategic Relationships Company Description Oil & gas industry Statoil Top 10 global oil and gas company Tullow oil Africa’s leading independent oil company BP Top 10 global oil and gas company Drilling and mining services companies Weatherford Top 10 oilfield services company Newmont Top 3 worlds largest producer of gold Herrenknecht World leader for heavy tunnel boring Imerys World leader in mineral-based solutions Utilities Enel Leading European energy provider Geothermal projects developers EGS Energy UK leader in geothermal systems EGS www.GeothermalAnywhere.com 10
  11. 11. PLASMABITCompetition Existing and new drilling equipment/services companiesDrilling services companies New approach  PLASMABIT:  Higher speed Our customers Increased well stability New applications www.GeothermalAnywhere.com 11
  12. 12. PLASMABITTeam Igor Kocis Tomas Kristofic Ivan Kocis, PhD. Technology Teams Chief Scientist Chief Executive Chief Technology Chairman Officer Officer of the Advisory Board Construction, Engineering 35 fulltime employees, >600y experience and Drilling Team Shareholders – 15 years common serial entrepreneurship Electrical Engineering Advisory Board - top-ranking senior experts from Team relevant industries Plasma PhysicsInvested Man Months over last 5 years Team Material Engineering Team Modeling and Simulation Team www.GeothermalAnywhere.com 12
  13. 13. PLASMABITBusiness Model Industry acceptance Direct relations with 10 industrial leaders Revenue source: services, product sales, licensing 2011 2012 2013 2014 2015 2016 Drilling prototype Demonstration / Pilot well Commercialization Core revenues generated since 2014 Exit strategy: IPO or Fortune500 trade sale (2016) www.GeothermalAnywhere.com 13
  14. 14. PLASMABITStatus, milestones, use of funds Build Deep drilling center Test site with field prototype Raised 2008-2012 9M€ Signed contracts with Forbes2000 companies Need 5M€ for 2013-2014 to build a pilot well www.GeothermalAnywhere.com 14
  15. 15. There is an enormous energy hidden below yourfeet and there is a way how to bring it to people. www.GeothermalAnywhere.com