{"id":68911,"date":"2012-12-10T14:46:05","date_gmt":"2012-12-10T16:46:05","guid":{"rendered":"https:\/\/cnpem.br\/financing-in-place-cobalt-ready-to-deploy-n-butanol-in-brazil\/"},"modified":"2012-12-10T14:46:05","modified_gmt":"2012-12-10T16:46:05","slug":"financing-in-place-cobalt-ready-to-deploy-n-butanol-in-brazil","status":"publish","type":"post","link":"https:\/\/cnpem.br\/en\/financing-in-place-cobalt-ready-to-deploy-n-butanol-in-brazil\/","title":{"rendered":"Financing in place, Cobalt ready to deploy n-butanol in Brazil"},"content":{"rendered":"

Ethanol Producer Magazine, em 05\/12\/2012<\/em><\/p>\n

With the announcement of new investment from Bunge Global Innovation LLC, Cobalt Technologies\u2019 n-butanol development is ready for deployment in Brazil. \u201cWe\u2019re in a position now where the demonstration plant is fully funded and we have secured funding for commercial deployment,\u201d said Bob Mayer CEO.<\/p>\n

Bunge\u2019s commitment follows an earlier agreement with specialty chemicals company Rhodia Poliamida e Especialidades Ltda. Rhodia is a member of the Solvay group, the world\u2019s tenth largest chemical company, Mayer explained, which has headquartered its solvent division in Brazil. As a big user of normal butanol, partnering with Cobalt gives Rhodia an opportunity to integrate backwards into raw materials, Mayer said. On the feedstock side of equation, Bunge is one of the five top sugar companies in the world and, with eight sugarcane mills in Brazil, has a ready supply of excess bagasse. \u201cThey can leverage one of the byproducts and add value,\u201d Mayer said. \u201cPlus it\u2019s important for them to have an offtake partner, which we have in Rhodia.\u201d<\/p>\n

Testing of the Cobalt n-butanol technology has begun in Brazil at the Laborat\u00f3rio Nacional de Ci\u00eancia e Tecnologia do Bioetanol facility in Campinas. The work done at the new national laboratory for cellulosic ethanol will help to optimize the process, Mayer said, \u201cdoing everything with Brazilian raw materials, Brazilian water and Brazilian air, to really localize the process.\u201d<\/p>\n

Site selection for a one-tenth scale demonstration facility is under way, with plans to have it built during the sugarcane off season and operational in the first half of 2013, Mayer said. The terms of the agreement include considering co-location of a commercial-scale biorefinery at a Bunge sugarcane mill. The size will be dependent upon the mil location but will be in a range of 45,000 to 90,000 ton, with the maximum size capable of producing about 30 MMgy of n-butanol, Mayer said.<\/p>\n

Cobalt launched its pilot testing facilities in early 2010 at its headquarters in Mountain View, Calif. Earlier this year, Cobalt announced the successful demonstration of its technology at two larger facilities. The company\u2019s dilute acid hydrolysis pretreatment process was validated at the Andritz pulp and paper mill demonstration facility on woody biomass, bagasse and agriculture residues. Fermentation trials were done in cooperation with the National Renewable Energy Laboratory. Multiple fermentation campaigns at the 9,000 liter-scale facility confirmed high sugar conversion by the bacteria and high yields of butanol. \u201cWe\u2019re dealing a biocatalyst that ferments C5 and C6 sugars simultaneously,\u201d Mayer said, adding that they have developed a fermentation process that can be done in fast batches or continuously. The company has also worked at reducing distillation costs through its propriety dehydration process. \u201cWe\u2019ve worked to drive down capital cost and operating cost.\u201d<\/p>\n

\u201cWe\u2019re targeting a 40 to 60 percent cost reduction relative to petro butanol,\u201d Mayer added, which is a result of both the high yields and selectivity of the Cobalt process as well as feedstock cost. \u201cIn our process, feedstock might represent 20 percent, or even a little less, of total cost,\u201d he said. \u201cIf you look at petro butanol it\u2019s 85 percent of cost.\u201d Plus, he added, biomass prices will be a lot less volatile than petroleum.<\/p>\n

The Bunge strategic investment was part of a Series E Preferred Stock round. All institutional investors from previous rounds participated in the Series E Preferred Stock round, including Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, The Whittemore Collection, Ltd., Life Sciences Partners (LSP), @Ventures and Harris and Harris. Cobalt was advised by Pacific Crest Securities.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the announcement of new investment from Bunge Global Innovation LLC, Cobalt Technologies\u2019 n-butanol development is ready for deployment in Brazil<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1452,1454],"tags":[],"class_list":["post-68911","post","type-post","status-publish","format-standard","hentry","category-clipping-cnpem-en","category-clipping-lnbr-en","category-1452","category-1454","description-off"],"acf":[],"yoast_head":"\nFinancing in place, Cobalt ready to deploy n-butanol in Brazil - CNPEM<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cnpem.br\/en\/financing-in-place-cobalt-ready-to-deploy-n-butanol-in-brazil\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing in place, Cobalt ready to deploy n-butanol in Brazil - 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