Biomass Energy 2

Finrenes Oy [website] is a Finland-situate company that has patented a technology to replace fossil fuels by way of a lucrative bioenergy solution which provides affordable, clean and storable bioenergy. Its system generates biogas and bio coal from lignocellulosic waste biomass.

Benefits include:

Process does not need external energy, resulting in low operating costs

Pre-treatment with steam instead of enzymes

Increase biogas process speed, triple capacity for biogas process

Low OPEX, short investment payback time

Bio coal can be used as fuel and fertilizer, lowering overall business risk

The technology is scalable, ranging from the size a farm to that of a power plant

First, waste is taken from agriculture or forestry: wood chips, tree bark, straw, grass and even coconut hulls.

Next, there's pre-treatment which breaks the lignocellulose structure enabling fast biogas production. It can be easily refined to biomethane for vehicle use.

The rest of the biomass that has not turned into biogas is refined to brown bio coal pellets; which can be used as fuel for power generation in an existing coal firing power plant. Additionally bio coal can be used as advanced fertilizer.

The company finished a commercial scale pilot in 2017 and now aims to build its first commercial bio fuel lab.

In April 2018 the company was selected as a "2018 TiE50 Finalist" for the prestigious TiE50 Awards Program recognizing the world's most innovative tech startups. The association [Link] involves a half million entrepreneurs, enterprise executives, investment professionals and other accomplished individuals and which operates from 60 cities in 18 countries.

This awards competition is part of the world's largest conference for tech entrepreneurs. Last year, the association (a not-for-profit founded in 1992 in the Silicon Valley) screened more than 7,400 companies from 28 countries to select the best-of-breed.

The company also recently received the Horizon 2020 seal of excellence. It comprises a Certificate delivered by the European Commission's Programme for Research and Innovation 2014-2020 [Link] following an evaluation by an international panel of independent experts which scored the biomass energy technology as a high-quality project proposal.

Shell and others believe a meaningful energy transition can only be realized with breakthrough innovation and integrated technologies that are effective, scalable and profitable. Their New Energy Challenge 2019 [Link] is looking for young companies that can help us shape a successful energy transition with innovative yet realistic propositions. The company is profiled on its website.

The Board seeks an investment of 100 million euros to create a distributed energy system.

The company's January 2020 Business Plan: Link.