Between September and December 2016, we have completed a feasibility study, assessing the technical, commercial and financial viability of our project, funded through SME Instrument H2020 Phase 1:
- Technical viability: we completed a Failure Modes and Effect Analysis (FMEA) in order to identify failure risks prior reaching commercialization stage, by identifying potential areas of concern in the system lifecycle. We have also prepared a detailed list of materials and components, identified potential suppliers and determined costs (final selling price around €450k, operational costs around €15k, for a 63kWh unit). In addition, we have performed a Technology Watch analysis in order to expand our knowledge of potential competing technologies, and develop a list with technical regulations and standards to be met. We have also engaged and reached an agreement with Checcarini Agricoltura to host GASFARM pilot plant.
- Commercial potential: we have deepened our knowledge of our market, segmented it and quantified it, projected our growth and determined our pricing and commercialization strategy (pig farms in Italy, Spain and France as our primary market). We have also carried out a Freedom to Operate analysis that has confirmed the novel advantages of GASFARM and helped us shape our Intellectual Property (IP) strategy. We have also spent considerable time identifying and engaging with numerous companies, specially within the ‘energy from waste/valorization’ sector, in order to find the best potential partner to complement us and bring value into the project. Some of the companies that have been selected and reached in order to discuss partnership opportunities (some others are cited within the following section):
- Zuccato energia: CHP/energy valorization specialized company, located in Italy.
- Stanzani: Italian engineering company working, among other sectors, renewable energy technology.
- NBI: Italian company operating in the areas of plant engineering, renewable energy, production and maintenance.
- Fiper: association of renewable energy producers in Italy.
- Key Global Italia: Italian main engineering contractor & management company.
- We have also used the support of our H2020 coach and used their access to Europartner partner search services. MTM Energia and OCREM were also reached to discuss about the possibility to become partners for GASFARM PH2 project. We also reached Karla Energize, a Czech company provider of cogeneration units with whom we had engaged in the past.
- Financial viability: We have projected GASFARM’s revenues, costs, pricing, margins and payback. We have assessed several economic scenarios with different participating entities (materials suppliers, manufacturing profiles, subcontracting possibilities and partners. Out of this analysis we have also been able to determine the best strategy to go along with the project for Phase 2 i.e. partnership with a CHP technology provider, in order to leverage financial burden whilst bringing complementary skills and resources into the project.
