BIOeCON, a Hoevelaken, The Netherlands-based developer of non-edible biomass conversion technologies, has raised an additional €1m.
The funds include an investment from existing shareholders and a grant from the Dutch Ministry of Economic affairs, which is aimed to design and build a prototype of a fuel cell that can convert cellulosic biomass directly into electricity.
This concept, called BiCEPS (Biomass Conversion to Electrical Power Systems), has been developed in cooperation with the Eindhoven University of Technology and the fuel cell prototype will be built by a team led by BIOeCON’s business development director Dr. Hans Heinerman.
Founded in 2006, BIOeCON has already developed three technologies. In 2007, the company formed a Houston Texas-based joint venture called KiOR to develop and commercialize Biomass Catalytic Cracking (BCC), a process in which biomass waste can be converted into transportation fuels. Funded by Khosla Ventures, KiOR has progressed into the demonstration phase with a first commercial plant now under construction in Mississippi.
In 2009, BIOeCON entered into a joint development agreement with PETROBRAS SA to scale-up and commercialize a process called BiCHEM in which cellulosic biomass is converted into platform chemicals suitable for polymers and/or fuel additives. To demonstrate BiCHEM on a pilot scale, an international research group led by Prof. emeritus Jacob Moulijn has been established at the High Tech Campus in Eindhoven.
FinSMEs
12/04/2011