Entrepreneurs de la bioéconomie FBi/SITTM Technologies
The bioeconomy: a new economic cycle What’s Next? Hunting Agrarian Industrial Information FBi Forest Bio. Products Inc. 2 3/19/2018
Markets of the Bioeconomy • • Biofuels $80 B (potential Canada) Bioplastics $10 B (potential Canada) Pharmaceuticals $40 B (Canada) Nutraceuticals $100 B (world) Biopesticides $ 1 B (potential Canada) Food from the forest $675 m (actual) Consumer goods from forests $125 m (actual) FBi Forest Bio. Products Inc. 3 3/19/2018
Governments are promoting bioeconomy— 5 -10 year planning horizon • Climate change is a recognized global issue—link to fossil fuels • Country wide legislations compelling the use of biofuels: o Reduce carbon emissions o Stimulate regional economies o Clean air policies • Municipal governments are getting involved to support community survival FBi Forest Bio. Products Inc. 4 3/19/2018
Scientists are promoting bioeconomy— 20 year planning horizon FBi Forest Bio. Products Inc. 5 3/19/2018
Four presentations about entrepreneurship in the bioeconomy • • Presentation 1: the financial argument Presentation 2: the academic argument Presentation 3: the corporate argument Presentation 4: the psychological argument FBi Forest Bio. Products Inc. 6 3/19/2018
Presentation 1: The financial argument • Numerous bioproducts opportunities each with unique: • • Rate of return on capital invested Capital investments $1 -10, 000 Cash flow Equity/debt ratios Private and public financing Business plans Sustainability of resources—long term procurement strategy • Corporate structuring/accountability • Payback period— 2 -10 years FBi Forest Bio. Products Inc. 7 3/19/2018
Non Timber Forest Products Investment Return on Investment Jobs Created Ground hemlock $200, 000 5 -10% >20 seasonal Labour, accessibility of resource in the region Fiddlehead ferns $25, 000 50 -75% >10 seasonal Labour, market demand, buyer prices Wild mushrooms $50, 000 5 -30% >10 seasonal Labour, market demand, buyer prices Wild blueberries $0 to $100, 000 5 -10% >10 seasonal Labour, market access, available land $50, 000 50 -90% 3 seasonal Market demand, buyer prices Opportunity Birch syrup FBi Forest Bio. Products Inc. 8 Risk Factor 3/19/2018
Energy Sector Opportunities Opportunity Biodiesel Energy crops and natural fibres Creating energy conservation communities Investment Return on Investment Jobs Created $2, 000 25 -50% 5 full-time Feedstocks and markets must be secured Risk Factor variable 5 -15% Part time Needs to be supported by local research to assess productivity $100, 000 10 -30% 2 full time Need to secure subsidies for start up FBi Forest Bio. Products Inc. 9 3/19/2018
The wild side Opportunity Cultivation of specialty plants (marijuana) in mine shafts Investment $2, 000 FBi Forest Bio. Products Inc. Return on Investment 5 -15% 10 Jobs Created Risk Factor 5 Must be associated with operating mine or must be dry shafts 3/19/2018
Presentation 2: academic argument • To private sector: Small scale, decentralized bioeconomy businesses are emerging • To governments: Foolishness is the act of repeating the same mistakes while expecting better outcomes • To NGO’s: New approaches based on the democratization of knowledge are emerging because the most critical energy decisions will be made at Home Depot stores at 10: 17 on Saturday mornings FBi Forest Bio. Products Inc. 11 3/19/2018
Presentation 3: corporate argument • • • Let’s invent “Maudit Bon Monde Inc” (MBMI) 100 shareholders Bioeconomy business MBMI’s First Shareholders Meeting Two investment opportunities: o Now at $10. 00/share o Later on the presentation at $ ? /share (my choice). FBi Forest Bio. Products Inc. 12 3/19/2018
MBMI’s First Shareholders Meeting • Let’s invent “Maudit Bon Monde Inc” (MBMI) • 100 shareholders • Our goal: increase shareholder value to $1 B within 5 years • Our vision: capitalize on trends in the bioeconomy—particularly energy sector • Our values: the bioeconomy can be used to generate profit while benefiting humankind • Goal of meeting: find market focus, technology & implementation strategy FBi Forest Bio. Products Inc. 13 3/19/2018
How to position MBMI: energy • CIPO: 1080 patents on biomass transformation • Google search: o 15, 200, 000 hits on biomass o 6, 220, 000 hits on biofuels o 850, 000 hits on bioenergy solutions • Bioeconomy is being introduced FBi Forest Bio. Products Inc. 14 3/19/2018
What we have to do to be credible • Outstanding management team with • • accountabilities Protection of Intellectual Property Enough cast to support cash flow requirements Regulatory issues-labor, environment, electrical… Shortest distance between a good idea and making money FBi Forest Bio. Products Inc. 15 3/19/2018
Hubbert’s Peak is ushering bioeconomy • The amount of oil under the ground is finite • Pre-peak: rapid rise – discoveries & infrastructure • Post-peak: rapid decline – resource depletion FBi Forest Bio. Products Inc. 16 3/19/2018
Energy facts • • One barrel of oil: 6. 1 Gigajoules--$10/GJ One car/light truck= 34, 43, 52 GJ/year Steel fabrication: 18 GJ/tonne Paper fabrication: 24 GJ/tonne One dry tonne of biomass= 18 GJ Panicum (switchgrass) = $8/GJ One house = 116 GJ/year o Space heating 70 GJ o Hot water heating 25 GJ • 4 % of Canada’s energy comes from biomass FBi Forest Bio. Products Inc. 17 3/19/2018
Overview of biofuel technologies • Fermentation (Corn, wood—ethanol) • Combustion (all biomass types) • Gasification (all biomass types) o Pyrolysis—bio-oil o High temperature—syngas o Catalytic conversion to methanol, biodiesel, ethanol • Transesterification process-fats to biodiesel • Wood pellets, chips FBi Forest Bio. Products Inc. 18 3/19/2018
Bioeconomy market failures (things we don’t want MBMI to do) • IPO syndrome-they will buy it because it’s green • To access markets, bioproducts (bioenergy) must be: o Cost-effective in comparison to fossil fuels o Trouble-free for consumers o Be culturally acceptable o Have the same distribution infrastructure as fossil fuels • Commoditization of feedstocks • Must underwrite less than two of the above risk factors FBi Forest Bio. Products Inc. 19 3/19/2018
Technology size-where is there potential for revenues? • Large scale o Address large markets, own and operate green energy technologies • E. g Atikokan Generating Station • Small scale o Fit technology to end users, sell and/or license technology • E. g. small scale biodiesel manufacturing FBi Forest Bio. Products Inc. 20 3/19/2018
Stick it to the Man. TM • The Frankentank v. 2 FBi Forest Bio. Products Inc. 21 3/19/2018
The Frankentank v 3 • Patent pending • • FBi Forest Bio. Products Inc. • (CIPO) ESA/CSA pending 220 V, single-phase 250 L batch in 8 hours 2 hours hands-ontime Dry-wash technique 22 3/19/2018
A few Frankenthoughts FBi Forest Bio. Products Inc. 23 3/19/2018
Market opportunity • Permit fuel/users to invest in technology to meet their needs/regional needs • Reduce transport costs of biomass • Take advantage of o Emerging gasification o Emerging biodiesel o Emerging biooil technologies FBi Forest Bio. Products Inc. 24 3/19/2018
Business opportunities: social entrepreneuship • Development of technologies to fit the Democratization of Energy/Knowledge • Deployment and operations of small scale technologies • Working with communities to support their needs • Managing the development process—there is no consulting firm out there that can provide the ultimate consultant out there o Project definition/management/delivery FBi Forest Bio. Products Inc. 25 3/19/2018
Why biodiesel is the buzz • Diesel price increasing at $0. 12 per L per year in Ontario • 5 % biodiesel target in Canada • Culturally acceptable FBi Forest Bio. Products Inc. 26 3/19/2018
Diesel in Canada - 2004 FBi Forest Bio. Products Inc. 27 3/19/2018
Viscosity-Temperature Curves Vegetable Oil Viscosity (c. St) Biodiesel Diesel 20 c. St – Max Viscosity Temperature (ºC) FBi Forest Bio. Products Inc. 28 3/19/2018
The Biodiesel Reaction is simple 1) Waste Vegetable Oil 2) Raw Biodiesel (A) 3) Purified Biodiesel and Crude Byproduct (B) A B FBi Forest Bio. Products Inc. 29 3/19/2018
Quality Standard – ASTM D 6751 FBi Forest Bio. Products Inc. 30 3/19/2018
Tailpipe Emission Reductions US DOE – National Renewable Energy Lab Low Sulfur Diesel vs. B 20 (October, 2006) FBi Forest Bio. Products Inc. 31 3/19/2018
Energy Return on Investment Energy Density of Diesel = 36 MJ/L Fossil Energy Ratio = Energy Out Energy In FER Diesel = 0. 83 Energy Density of Biodiesel = 33 MJ/L Fossil Energy Ratio = Energy Out Energy In FER Biodiesel = 3. 22 FBi Forest Bio. Products Inc. 32 3/19/2018
Biodiesel – Tax Advantages Canada-Wide Road Tax on Diesel 15. 0¢ BC – B 5 -B 50 15. 0 ¢/L exemption MB – 11. 5 ¢/L exemption ON – 14. 3 ¢/L exemption QC – 16. 2 ¢/L exemption NS – 15. 4 ¢/L exemption PEI – 20. 8 ¢/L in discussions AB – 9. 0 ¢/L no exemption SK – 16. 5 ¢/L no exemption NB – 16. 9 ¢/L no exemption NFL – 16. 5 ¢/L no exemption YK – 9. 1 ¢/L no exemption NWT – 7. 2 ¢/L no exemption NU – 9. 1 ¢/L no exemption 11. 5¢ FBi Forest Bio. Products Inc. 33 3/19/2018
Long term business strategy • Develop market for product – 5 continents • Create a distribution system for Stick-it-to-The • • Man. Tm technologies Secure partnerships to develop new technologies/products Acquire companies with complementary technologies Create manufacturing strategies worldwide New venture: manage process for other businesses. FBi Forest Bio. Products Inc. 34 3/19/2018
Business opportunity: managing the development process on behalf of private sector/communities • • Idea to market Reducing technology risks Reducing market risks Finding the right talent to support small businesses • Finding subsidies to support small businesses FBi Forest Bio. Products Inc. 35 3/19/2018
Psychological argument: risk and benefits • • • Goal is $1 B in value 75 % grants and loans from governments Massive worldwide opportunities Great management team Current share value: $10/share—because we still are not certain to have success FBi Forest Bio. Products Inc. 36 3/19/2018
Businesses are convergence of systems: • • • Resource Technology Markets Financial parameters Corporate structure Psychology (testicular fortitude) FBi Forest Bio. Products Inc. 37 3/19/2018
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