ThruPore Technologies has developed a new palladium on carbon (Pd/C) catalyst that is more efficient than existing options. It has 6 times the throughput and is highly active with increased production. This superior performance could provide chemical companies with 25-50% lower costs, higher throughput, and a working lifetime over 1 year or twice as long as current technologies.
2. The Team
Franchessa Sayler – Entrepreneurial Lead
• Chemistry Graduate Student (Ph.D. August 2012)
• Developed technology
Martin Bakker – Principle Investigator
• Associate Professor of Physical Chemistry
• 30 years research experience
Christopher Melton – I-Corps Mentor
• Chairman & CEO of The White Oak Group, Inc.
• 30 years of business experience
3. Catalysts
Increase production yield
Decrease downtime
For chemical companies
Catalyst increase chemical process rates
90 % of all manufactured products
$900 Billion
Better Catalyst = $$$
4. The Opportunity
Global Catalyst
Market =
Chemical $29.5 B
Catalyst
Hydrogen Pd/C • Emissions
-ation Catalyst
Market Catalyst = $1.1 B
• Refinery
= $7 B = $1.5 B • Chemical
5. The Competition ThruPore’s Pd/C
Raw
Material Product Raw
Material Product
Problems: Solutions:
• Clogging • 6x throughput
• Severely reduced activity • Highly active
Decreased production Increased production
=-$ = + $$
6. Business Canvas Version 1.0
Key Value Customer Customer
Key Activities Proposition Relations Segments
Partners • Synthesis and • Provide support &
characterization of trouble-shooting to
• Chemical
catalysts. (test • 25-50 % customers to ensure
manufacturers
reaction) catalysts perform.
• Getting
cheaper • Fine chemicals
• Template supplier(s). • Optimize and
• Turn-key MVP/evaluation • superior upgrade catalysts to
• Commodity
chemicals
manufacturer? samples in hands of performance provide on-going
• Biofeed
• Distributor? potential customers.
• Optimization for
• more efficient relationship
• Petrofeed
(catalysts are
individual customer precious metal • Pharmaceuticals
consumables not
• Oil refining
needs. usage capital items)
• Emissions control
• Quality control.
• Validate
• higher Channels • Mobile
environmental throughput • Stationary
Product info. Delivery: • Plastic production
requirements • longer • sales calls • Edible oils
• Validate IP
working • conferences • Electrocatalysts
Key lifetime (>1 yr • publications
Resources • trade shows
or 2x) Product Delivery:
• Specialist expertise in
• From company
design, synthesis and
warehouse
characterization of
Direct licensing
catalyst
• Space & equipment
Cost Revenue
Structure • Manufacturing plant. Inventory. Stream
• Marketing, production and R&D • Sales direct to customers.
• Cost of templates • Licensing and support fees.
• Cost of precious metal • Will reprocessing be cost effective?
• Legal
• Licensing
7. Testing Our Value Propositions
95 CUSTOMER CONTACTS
Research Catalysts, Inc.
Applied Ceramics, INC.
8. What We Learned about Our Value
Propositions
25-50 % Cheaper
Less Precious Metal - Pharma
Higher Throughput
Working Lifetime
Superior Performance!
+ Not Flammable
9. - Business Canvas Version 2.0
Key Value Customer Customer
Key Activities Proposition Relations Segments
Partners • Synthesis and • Provide support & • Chemical
characterization of 25-50 % trouble-shooting to
catalysts. (test customers to ensure
manufacturers
reaction) cheaper catalysts perform. • Fine
• Template • Getting • Optimize and chemicals
supplier(s). MVP/evaluation superior upgrade catalysts to
• Contract samples in hands of provide on-going
• Commodity
manufacturer? potential customers. performance relationship chemicals
• Distributor? • Optimization for (catalysts are • Bio
individual customer more efficient consumables not
needs. capital items)
• Petro
• Quality control. precious metal • Pharmaceuticals
Channels
• Validate usage • Oil refining?
environmental
requirements
Product info. Delivery: • Emissions
higher • sales calls
• Validate IP
• conferences control
throughput • publications • Mobile
Key Resources • trade shows • Stationary
• Specialist expertise in longer working Product Delivery:
• From company • Plastic
design, synthesis and lifetime (>1 yr
characterization of warehouse production
catalyst or 2x) Direct licensing • Edible oils
• Space and equipment 5
• Electrocatalysts
Cost • Manufacturing plant. Inventory. Revenue
Structure • Marketing, production and R&D Stream • Sales direct to customers.
• Cost of templates • Licensing and support fees.
• Cost of precious metal
• Legal • Will reprocessing be cost effective?
• Licensing
11. Catalyst
Distribution Food Chain
Catalyst
Catalyst
Company
Retailer
Researcher Process Engineer
12. - Business Canvas Version 4.0 -> SPLIT
Key Value Customer Customer
Key Activities Proposition Relations Segments
Partners • Synthesis and • Provide support
• Template
characterization of Our supported catalyst
& trouble- Need Early
catalysts (test will be:
supplier(s) reaction) • 25-50 % cheaper shooting. Adopters!
• Getting • Higher throughput • Upgrade catalysts • Chemical
• Contract • Longer working
MVP/evaluation to provide on- manufacturers
manufacturer samples in hands of lifetime (>1 yr. or 2x) going relationship • Commodity
• Distributor potential customers • Superior
(catalysts are chemicals
• Optimization for performance • Biofeed
• Catalyst • Easier to work with consumables not
individual customer • Petrofee
company needs (pellets and not capital items) d
• Quality control flammable) • Fine chemicals
• Less precious metal
Channels
• Validate • Pharmaceuticals
environmental usage (less metal in Product Info. • Refineries
requirements product & fewer Delivery: • Crude oil
• Validate IP synthesis steps)
• sales calls • Biomass
• Crush test • More efficient flow
(less crushing) • conferences refining
Key Resources Superior • publications • Emissions control
• Specialist expertise in • trade shows • Mobile
design, synthesis and Performance – Product Delivery: • Stationary
More active and • Plastic production
characterization of • company • Edible oils
catalyst more selective • distributor
5 • Electrocatalysts
• Space and equipment
Cost Revenue
Structure • Manufacturing plant. Inventory Stream • Sales directly to customers
• Marketing, production and R&D
• Legal • Licensing and technical support fees
• Licensing • Reprocessing
• Lab space (UA = $20/ft2/yr.) • Sales through distributor/catalog?
• Contract manufacturing
13. - Business Canvas for the Research Market
Key Key Value Customer Customer
Partners Activities Proposition Relations Segments
Template MVP/evaluation Superior Provide Researchers
supplier(s) samples in Performance technical
hands of support Fine
potential chemicals
Contract customers Easy to Use research
manufacturer Email new Pharma
Address larger products research
Safer
markets
Contract
Key manufacturer
Channels
Resources research
Product
Space Delivery:
Distributors
Equipment Retailers 5
Cost Revenue Sales through
Structure Production Stream distributor/retailer
Licensing IP or buy templates
Lab space (UA = $20/ft2/yr.)
Establish own brand
14. Revenue Model
Small Volume Medium Volume Large Volume
Retailer Direct Licensing
Sales Agreements
and Royalties
Cost to customer: $18/g Cost to customer: $10/g Cost to Customer: TBD
Our revenue: 30-50% Our revenue: 70-80% Our revenue: $/license
+ royalties
16. Key Key Value Customer Customer
Partners Activities Proposition Relations Segments
• Build
Contract credibility Tech. Support
manufacturer • Optimization Superior Fine Chemicals
for individual Performance Catalyst
Template customer Pharmaceuticals
Upgrade
supplier(s) • Quality Longer
control Fragrances
Lifetime
• Crush test Channels
• License IP Edible Oils
Easier
Product Delivery:
Key Resources
Separation
Company
Space
Contract
Equipment manufacturer
5
Cost Revenue
Structure Stream Sales directly to customers
• Marketing and R&D staff
• Legal
• IP Licensing Reprocessing Fee
• Lab space (UA = $20/ft2/yr.)
• Contract manufacturing
Leasing Agreement?
17. Key Key Value Customer Customer
Partners Activities Proposition Relations Segments
• Build
Contract Tech. Support
credibility Superior Commodity
manufacturer • Optimization Performance Catalyst chemicals
for individual
Catalyst Upgrade
company customer
• Quality More Active
control Refineries
• Crush test Higher Channels
Throughput
Product Delivery:
Key Resources
Company
Space
Contract
Equipment manufacturer
5
Cost Revenue
Structure Stream
• Marketing and R&D staff
• Legal • Licensing and technical support fees
• Licensing • Sales directly to customers
• Lab space (UA = $20/ft2/yr.) • Reprocessing fees or leasing
• Contract manufacturer agreement
18. ThruPore Partners:
Technologies
Hypothesis and Experiments
Catalyst
Companies
Research Catalysts, Inc.
Contract
Manufacturers
Distributors
19. ThruPore Partners:
Technologies Results
• Catalyst companies
o Be careful!
• Contract manufacturers
o A lot of contacts with companies needing
catalyst technology
o Use catalyst for chemical production for their
customers
o Mutually beneficial
• Distributors
o Most “distributors” have their own catalyst
product lines – be cautious
20. ThruPore
Technologies
What’s Next
• Find more possible partners
• Talk to more contract manufacturers
• Prototype for VC’s
• Establish catalytic properties
• Continue to refine cost estimates
• Pursue IP license
T
3
21. ThruPore What is a Catalyst?
Technologies
… “a catalyst is a substance
that changes the rate of a
chemical reaction without
itself appearing into the
products.”
22. ThruPore How a Catalyst Works
Technologies
H2 O
• Reactive H- H-
Surface Area H O=O H O=O
H-
Very
H
Important
• We have a
Football Field
in a Teaspoon
Raw Product
Material
23. ThruPore Competitive Landscape
Technologies
Catalyst Suppliers Sales
Umicore $12.6 B
Johnson Matthey $12.5 B
BASF Catalysts $6.5 B
W. R. Grace $1.9 B
Scott: our supports will be more expensive; we are competing with cheap natural materials which cost little, ours are high tech materials have add considerable value to gain market share. We don’t yet have economies of scale. So we have to compete on quality
Rxns that Pd/C can’t doRxns only purePdnanopart50 °C lower temp Simplify processesDisruptive technology
Varied depending which industry we were talking to.
Our Technol. adds the biggest value to large scale, flow through processesEstablished supplier with credibility
This would be for sales through Distributor to Organic Chemists: assume that 10000 people countrywide doing organic research, assume each uses about 5g Pd/C per year, gives 50 kg of Pd/C year, and that we can get 20% of the market that’s 10 kg/year: we can make this ourselves, but would need some one to bottle and packageSafer has to do with possibly being able to prevent material bursting in flames
Target batch scale processes: these include Pharma, Fragrances, Edible Oils and other small scale chemical production we don’t yet know about. Defining characteristic of this market is small to moderate scale, use batch processing methods. Since they use batch, flow characteristics are not an issue.The larger end of this market expects to get free samples for process development, since payoff comes from larger scale use.Lower Cost is an issue; but longer lifetime is a bigger factorNeeds to be robust under process conditions (stirring)Easier separation of catalyst after use means that the cost of reprocessing spent catalyst will be lower; would probably want a cut from the reprocessor.Safer has to do with possibly being able to make the material less likely to burst into flames
These are the big boys; have a dedicated plant that uses a lot of catalyst: supply of catalyst is critical, so end user will want license and until we have credibility in the market will want to manufacture themselves.