New York Energy & Environmental Funders

Hosting Sponsor:
Dickstein Shapiro LLP

InnoSepra is a New Jersey-based clean energy company focused on the development and commercialization of novel and cost-effective technologies for the separation of carbon dioxide from power plant flue gas. The captured CO2 can be used for enhanced oil or gas recovery or sequestered to mitigate its effect on the climate. The company's proprietary and patent pending carbon dioxide capture solution is expected to provide cost savings for CO2 capture of more than 40%, or $20/ton, over competing processes and can provide significant near term and long term business opportunities.

The need to curtail emissions of greenhouse gases to mitigate the adverse effect on the climate represents a very large business opportunity. The carbon capture and storage (CCS) market is potentially worth $750 billion to $1.5 trillion from the present to year 2030 (capture of 15-30 billion tons of CO2). Large-scale deployment of CCS technologies would require them to be easy to retrofit and to capture CO2 in a cost-effective manner. The InnoSepra technology offers both of these characteristics. Additionally, a CO2 capture cost of less than $30/ton coupled with a tax credit of $10/ton for enhanced oil and gas recovery (October 2008 Financial Bailout Bill), makes the capture of CO2 using InnoSepra technology very attractive.

In contrast to the InnoSepra technology, the best current technology for post-combustion capture of carbon dioxide from the flue gas of a coal-based power plant is significantly more expensive resulting in a CO2 capture cost of >$50/ton, 60-100% increase in power generation cost, and a greater than 30% decrease in the plant power output.

InnoSepra has developed an innovative, microporous material-based, CO2 capture technology and has demonstrated its feasibility on the bench scale. Based on lab testing and engineering scale-up studies, our technology has the potential to reduce the parasitic power to less than 20%, limit the capital cost increase to less than 35%, and limit the power cost increase to less than 35%. The combination of low capital and power results in a compressed CO2 cost of less than $30/ton. Near term opportunities include enhanced oil recovery (EOR) and enhanced gas recovery (EGR), where a low CO2 capture cost (< $30/ton) coupled with a $10/ton tax credit makes our technology very attractive. For EOR, we need CO2 worth $3 to recover one barrel of oil worth more than $40 and for EGR we need CO2 worth <$1 to recover natural gas worth more than $7.

The company has a strong core team with executive and research experience at BOC, the large industrial gas company, and exceptional execution history that has created and successfully commercialized more than 50 technologies in more than 100 plants in the industrial gases and CO2 areas resulting in value creation in excess of $100 million. The company is also expected to have a strong worldwide IP portfolio, an efficient and low-cost capture process, and a rapid commercialization schedule. InnoSepra also has access to complete process design, engineering and construction capabilities through a partnership with an engineering company and access to liquid CO2 plants through merchant CO2 plant suppliers.

Phase I, bench scale development, is expected to be complete in early 2009. Phase II, process demonstration in a pilot plant with the real flue gas, is expected in 2009-10 and phase III, process commercialization for a merchant CO2 plant, is expected in 2010-11. These steps will allow commercial offering at power plant scale in 2012-13. Initial target customers are coal mine companies such as Consol Energy and CO2 pipeline operators such as Denbury Resources. Target customers for CCS are power producers such as Duke Energy and American Electric Power.

InnoSepra is raising $2 to $4 million for Phases I and II, and about $9 M for Phase III.

Speaker: Dr Ravi Jain, Founder and President, will describe InnoSepra's technologies, how they are different from other carbon capture technologies, and their path to commercialization.

Sector Expert: To be announced

Date: Friday, February 13, 2009
Time: 8:00 – 10:00 am
Place: Dickstein Shapiro LLP
1177 Avenue of the Americas, 47th Floor
(between 45th and 46th Streets on the West side of Sixth Avenue)

Security: Tell the personnel at the security desk in the ground floor lobby that you re attending the Center for Economic and Environmental Partnership, Inc. meeting at Torys LLP. You will need personal ID. They will issue a pass.

Cost: $50 if you pre-register.
Cash or checks (payable to CEEP) accepted. Must register or cancel by 4pm the previous day. No shows will be invoiced.
$60 if you pay at the door.
See below for Annual Registration opportunities and other important conditions.

Agenda:
8:00 to 8:20 – Networking with Members
8:30 to 9:00 – Presentation by Dr Ravi Jain, Founder and President, InnoSepra
9:00 to 9:30 – Company presentation by Sector Expert: To be announced
9:30 to 10:00 – Discussion and Networking

Thank you, and we look forward to seeing you at the next NY Funders meeting.

If you have any questions about registration or need more information about the program, please contact Gelvin Stevenson at gelvin@optonline.net.

BIOGRAPHICAL SKETCHES:

Dr. Ravi Jain received a B.Tech. in Chemical Engineering from I.I.T. Kanpur and M.S. & Ph.D. in Chemical Engineering from The University of Michigan. His Ph.D. research was in the areas of gas separation using membranes and chemical storage of Solar Energy. Dr. Jain joined The BOC Group, a $8 B global industrial gases company, after the graduate school where he worked for more than 20 years in Research and Development, and Technology Commercialization. His last position at The BOC Group was that of Section Director and BOC Technology Fellow. During his tenure at The BOC Group Dr. Jain commercialized more than 25 technologies in the areas of air separation and purification, production and purification of carbon dioxide for beverage and food applications, production of ultra high purity gases for electronics, and gas applications in optical fiber production, fabrication of semiconductors, removal of nitrogen oxides from flue gas, and drinking water treatment. Dr. Jain has more than 40 issued and pending U.S. patents, more than 100 international patents, and more than 50 papers and presentations. Dr. Jain is the recipient of eight major technology and innovation awards from The BOC Group. He was also a member of the team that received the Kirkpatrick Award for NOX control technology from the Chemical Engineering magazine.

In 2007, Dr. Jain, along with colleagues from The BOC Group, formed InnoSepra to develop and commercialize technologies for the capture of carbon dioxide from the flue gases as well as other streams from refineries and chemical plants. The InnoSepra technology was selected for the finalist round in the 2008 MIT Clean Energy Entrepreneurship Prize.

Advisory Board
Mark Austin, Chandler-Reed
John Cusack, Gifford Park Associates
Ira Rubenstein, CEEP, Inc.
Gelvin Stevenson, Ph.D., CEEP, Inc.

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2. No-shows will be invoiced.
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Formed in October 2001, New York Energy & Environmental Funders (NYE&EF) is a joint service of Investors Circle, the Energy & Environmental Capital Network (ECN), the Environmental Business Association of New York State, Inc. (EBA/NYS) and Investors Circle. NYE&EF provides networking, information, and other services to investors interested in energy and environmental companies. NYE&EF activities are produced by the Center for Economic and Environmental Partnership, Inc. (CEEP) in furtherance of its educational mission.

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