- Development of a technology for conversion of biomass into bio-oil
Khosla Ventures and BIOeCON today announced the establishment of their joint venture kiore Inc.. Khosla Ventures will provide for the Series A financing, while BIOeCON will bring his knowledge and intellectual property rights to the BCC process (Biomass Catalytic Cracking Process). Kiore Inc. will focus on the further development and commercialization of the BCC technology and make preparations in order to obtain substantially over the next two to three years, more capital.
When BCC process lignocellulosic biomass, which is contained in grass, wood and many agricultural and forestry waste is converted into a bio-oil product that can then be refined into fuel. The conversion of cellulosic biomass to bio-oil is of great economic interest and also of great benefit. Among other things, that crop residues are recycled and not the cultivation of food crops face competition that ecological sustainability is encouraged that the dependence on fossil fuels such as crude oil is reduced and the economic development and job creation in rural areas.
"The main technical problem in the conversion of cellulosic biomass into usable fuels is the breaking up of the inaccessible," wood-like "fibers so that they can effectively be converted. Most existing methods for breaking these woody structures are relatively expensive and energy-and chemical-intensive "said Paul O'Connor, founder and president of BIOeCON. "BIOeCON has developed a simple and less energy-intensive way to prepare the woody biomass for catalysis and convert it into a bio-oil product in comparison to other thermochemical processes significantly better properties.
Doug Cameron, chief scientific advisor of Khosla Ventures, said: "BIOeCON has significant R & D network and solid scientific basis, we have evaluated the technology and research programs thoroughly and are convinced that this is a potentially disruptive technology.. "
"The fact that our funding from a strategic and visionary venture capital firms such as Khosla Ventures is secured, is a very important step forward," said Rob van der Meij, CEO of kiore Inc. "Khosla's expertise and experience with technology start-ups is unique in the industry and We look forward to the boost will undoubtedly bring Khosla Ventures with it. "
Kiore concept and approach is unique and has what it takes to be a large-scale, widely used technique that can improve energy availability and sustainability, both in developed and in developing countries. The BCC technology unlocks the power of the enormous quantities of biomass waste and converts it into high energy products.This not only reduces net carbon dioxide Austoss but also improves the energy independence of many countries.
About BIOeCON
BIOeCON was founded in 2006 by Paul O'Connor with the goal of developing new, large-scale industrial processes to convert biomass, particularly recalcitrant polymeric biomass residues that provide efficient and cost effective recycling opportunity for valuable molecules used in the chemical and energy industry can be.BIOeCON is a privately held company that has an international network of top researchers and institutions, and in this way know-how, expertise and experience from various fields such as catalysis, biomass processing, process development and commercialization of technology together. BIOeCON is Hoevelaken Dutch resident.
About Khosla Ventures
Khosla Ventures offers project support, strategic advice and capital to entrepreneurs. The company helps businesses leverage the Internet to new markets such as mobile devices and extend support breakthrough scientific work such asBiorefineries. Vinod Khosla founded the firm in 2004 and in 2006 came to two partners. All partners were involved in the founding and development of the billion-dollar companies like Sun Microsystems, Juniper Networks and AOL involved.Vinod was nominated several times for venture capitalists and no one from Forbes and Fortune recently by saying "there are venture capitalists Vinod Khosla and there are" designated as the nation's most influential ethanol representative. The capital of the company comes exclusively from the partners and a portion of profits will be donated for charitable purposes, with an emphasis on microfinance, education, environment and affordable housing. Khosla Ventures is based in Menlo Park, California.
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