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Categories
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Other
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Offering Date
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November 29, 2018
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Expected Close Date
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April 30, 2019
Company Description
Developing technology that will be the lowest cost conversion process to turn biomass into drop-in jet fuel and diesel.
Key Deal Facts
University of California, DavisCMF and FDCA technology.
CMF and FDCA technology.
University of North Dakota, EERCCondensation reactions and hydrotreating.
Condensation reactions and hydrotreating.
Purdue UniversityCMF production @ 1L scale, fuel testing, condensation reactions.
CMF production @ 1L scale, fuel testing, condensation reactions.
Commonwealth Scientific and Industrial Research Organization (CSIRO)R&D = CMF production, condensation reactions
R&D = CMF production, condensation reactions
University of MaineProcess engineering, hydrotreating, condensation reactions, pilot plant located at TRC.
Process engineering, hydrotreating, condensation reactions, pilot plant located at TRC.
Michigan State University Bioeconomy Institute (MSUBI)CMF production scale-up (400L) and condensation products analysis.
CMF production scale-up (400L) and condensation products analysis.
Queensland University of Technology (QUT).CMF production, feed prep, condensation reactions, hydrotreating.
CMF production, feed prep, condensation reactions, hydrotreating.
Southern Oil Refining (SOR)Hydrotreating and fuel testing.
Hydrotreating and fuel testing.
https://www.dailymercury.com.au/news/biorefinery-boss-to-hold-mackay-meetings/3340598/
https://www.gladstoneobserver.com.au/news/another-biorefinery-project-in-the-pipeline-for-gl/3340389/
https://www.facebook.com/7NewsMackay/videos/1824019977621701/
https://www.facebook.com/9NewsMackay/videos/1981834165476220/
Design, build and operate a 0.1 Tons Per Day pilot plant in 2019.Securing State support from QueenslandBenefit from Australia’s refundable R&D tax creditIn-kind investment in place.
Securing State support from Queensland
Benefit from Australia’s refundable R&D tax credit
In-kind investment in place.
Design, build and operate a 10-20 Tons Per Day demonstration plant in 2020-21.
Build and startup 1st commercial plant in ~2022.
Use of Proceeds
Use Value % of Proceeds
Working Capital
$1,017,570
95.1%
Intermediary fees
$52,430
4.9%
Management Team / Advisory Board Bios
Karl Seck
President and CEO
Karl is the CEO/President and Founder of Mercurius Biorefining Inc. a company formed in 2010 to develop and commercialize transformational technology. The technology efficiently converts biomass into drop-in biofuels and green chemicals. Karl has spent most of his career in the petroleum refining field as a process engineer. He has held design, technical services, optimization, and operations management positions with three oil companies: Conoco, Sunoco, and Clark. After working for a mid-sized engineering firm, Karl started his own process consulting service in 2001 to provide optimization services to the petroleum industry. He received a BS Degree in Chemical Engineering from the University of Kansas.
Michael Vevera
CFO
Michael is CFO of Mercurius Biorefining Inc. and Managing Director of Mercurius Australia Pty Ltd. Michael joined Mercurius in January 2010 to provide start up management and strategic planning expertise. Michael has been in the renewable fuels space since 2008. He has owned and managed companies in three different countries (Australia, Japan, United States) on an equal number of continents (Asia, Australia, and North America) which allowed him to gain diverse experience in areas ranging from construction, education, and training to foreign exchange trading and small goods manufacturing logistics and supply chain management. Michael intends to continue to help build inspiring companies that not only produce profit but also benefit those working at them as well as the communities in which they are located. Michael earned his Bachelor of Science degree in International Finance from Oregon State University in 1987 and his Master of Business degree in International Marketing from the University of Technology Sydney in 2001.
Knud Balslev
Business Development
Knud has been with Mercurius Biorefining since 2009. He has a BSc degree in Engineering from the Danish Technical University and more than 25 years of experience in international business development and strategic alliances in Europe and North America. Knud contributes to Mercurius with project risk management as well as management of potential Mercurius partners for feedstock, technologies, refining and offtake as he leverages a large professional network in the renewable energy industry.
