Bio-based high-purity isoprene through high-yield technology

Project Information

Bioprene

Grant agreement ID: 663118

DOI

10.3030/663118

Project closed

EC signature date 11 March 2015

Start date 1 April 2015

End date 31 July 2015

Funded under

• SOCIETAL CHALLENGES - Climate action, Environment, Resource Efficiency and Raw Materials

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

VISOLIS TECHNOLOGIES LTD
United Kingdom

Periodic Reporting for period 1 - Bioprene (Bio-based high-purity isoprene through high-yield technology)

Reporting period: 2015-04-01 to 2015-07-31

Summary of the context and overall objectives of the project

The following report was undertaken between 1st April 2015 and 31st July 2015 with the objective to assess both the technical and business feasibility of Visolis' developed process technology and Bioprene end product, in the context of their further development and potential commercialisation.
In particular the project identified: the product development strategy and industrialisation plan for Visolis; needed infrastructures and facilities; regulatory issues; potential risks and a mitigation strategy; possible business models and go-to -market strategies; end user interest; and financial projections.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Technical Feasibility
Define a minimum viable product: user requirements document delivered.
Plan a feasible product engineering: product specification document delivered, list of the technical activities necessary to make the product ready for commercialization.
Establish a feasible preliminary industrialization plan (large scale production process) and elaborate the business full operations: all following issues identified: complete supply chain, regulatory issues, needed certifications/authorizations, needed infrastructures and facilities, personnel, investments calculated.

Business Feasibility
Scout and identify industrial partners (SMEs/Large Enterprises) in the supply/value chain: all identified profiles/stakeholders contacted and at least 2 partners secured for Phase 2.
Size the reachable customers and a reliable market share: qualitative and quantitative results shown from comprehensive customer analysis and competition analysis.
Commercial viability check (establish a sound Go-to-market Strategy): securing the interest for the business project and further cooperation of at least 1 sale channel/distributor.
Accomplish 5-years financial projections.
Establish an effective IP management strategy: register a pool of patents, license agreement signed, prior art analysis conducted.
Risk assessment & Contingency Plan: main risks identified and proper counteractions planned.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Bioprene and the Visolis process technology has the ability to produce Bioprene at full scale less than half of it current market price.The final product target price will be €2140/ton, with material costs of €870, creating a gross margin of 60%.
Using multiple feedstock, made up of a diverse material supply base, will provide the process with a stable supply and a lower overall price volatility for its raw material needs. Additionally, the ability to use 2nd generation feedstock like agricultural residues and waste in the production process, lowers the carbon footprint of isoprene further making it environmentally sustainable, it will reduce CO2 emission by 70% over the current petrochemical process. For each plant built producing 60,000 tonnes of Bioprene it would have the same impact as planting 20 million trees.

Deepak Dugar

Visolis milestones