GasChem Techno

  • Grant accepted

Project

Mini-GTL technology enables cost-effective processing of small volumes of raw gas (landfill, flare gas) into synthetic crude oil. Company is in talks with TNK-BP, LUKOIL, Halliburton and a few small and medium size oil companies.

Business concept Commercial sales model is licensing. Our final customers are oil companies, the partners – are EPC-contractors, industrial and technology partners. The plans are to sell at least 6 technology licenses per year (beginning from 2017). At the current time the first pilot plant is in the process of designing for Russian oil company. The second plant is going to be constructed to enhance the capability of the pilot in 2014-2015.

Technology The company develops the technology for associated gas processing to produce synthetic crude oil. The essence of the project is in the two innovative solutions combination: technologies for gas synthesis POx (Gazohim Techno  http://gazohim.sk.ru ) and Fischer-Tropsch microchannel reactors technology FT (Oxford Catalysts Group www.oxfordcatalysts.com). Our approach allows to combine synergy of the both technologies and make it possible to  reduce strongly the capital and operating costs as well as to create the first-ever cost-effective low-tonnage gas-to-liquid (GTL) complex.

Market

The Russian market of flared gas is between 20 (official estimate) and 40 (evaluation by the World Bank, PFC Energy, etc) bn nm m3 / yr, which is equivalent of $5-10B. At least half of these amounts can be effectively monetized using the technology of the mini-GTL. The size of the global market flared gas reaches 150 bn nm m3 / year. Main competitors use steam reforming that does not allow either achieving any significant reduction in CAPEX or operating in the niche of small volumes of gas flaring (accounting for most of burnt gas).

Company

The company is a startup created by two groups of the initiators of the project - a group of engineers and scientists and the group management.

At the moment, the key team covers all the required competences of the project:

  • technological and engineering expertise;
  • project management;
  • investment management, and financial management;
  • market and potential sales;
  • strategic management.

Investment opportunities

Investor’s contribution into creating a prototype installation on the customer site might be up to  $3,5M out of total financing of  the round $5,8M. In February 2013 the company has attracted Alltech Group (www.alltech.ru )  as an strategic  investor. Total funding to the-date is $8,1M (including $3,7 M of direct investments, $3,7M  Sk Foundation grant, $0,8M of owners investments).. The list of the B Round potential investors includes  LEADER-Invest Fund (www.leader-invest.ru)  , VEB-Innovations Fund (www.innoveb.ru) , RUSNANO (www.rusnano.com), OMZ-innovations Fund.

Team [6]


Presentation