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Production of bioethanol (anti-freezed mixtures, biofuel)

Member: innoven
Located in: Slovakia

Business Details

Business Stage:
  • Start-up/Seed (business to be started)
Amount Required:
  • €8000000.00
Investment Types:
  • Debt/loan financing
  • Equity/shares
  • Equipment/inventory purchase
  • Working capital
  • Agriculture/Garden/Horticulture
  • Oil/Gas/Electricity/Natural Resources

Short Description

Main vision:
1. Production of biofuel ? ethanol 10.850 MT per year,
2. Production green power 1MWe (biogas station, using waste from bioethanol production line)

Very clean technology of production based on biomass

1. step: production of anti-freeze mixtures from ethanol
2. step: production of ethanol for biofuels

Total Project costs: 11.991.634,-EUR (investments + operating capital)
1. 5.000.000 EU grands
2. 1.000.000 operating capital
3. 7.000.000 inventory, equipments
4. lands are owned by company

Minimum Required funding: 4.000.000,-EUR (+ 4 mil. EUR from Slovak banks)

Location: Slovakia
Project started: June.2009

Executive Summary

1. Field of interest:
a. Producing anti-freeze mixtures from biomass
b. Producing of biofuels
c. Producing power from renewable sources: biomass
2. Challenges & opportunities:
a. Market space for anti-freeze mixtures based on biomass
b. Free capacity of agricultural production
c. Producing green energy ? Zero production of CO2
d. World Emission Challenge ? decreasing production of CO2
e. Exploitation of environmental clean technologies for power generation
f. Financial funding from EU to energy improvement projects
3. Brief project & technology description:
Market summary: The consumption of anti-freeze mixtures based on ethanol is continuously increasing. A free agricultural production is on market at the same time. There is opportunity for growing corn for production ethanol. Actually the raw material for production of anti-freeze mixtures is imported from Ukraine and South America. It is better to use our free capacity on location with best conditions for growing corn.
The product is concentrate for anti-freeze mixtures with 92% ethanol denatured according EU standards with 1,3% monoethylenglycol (MEG), 1,3% metylethylketon (MEK) and 2% tenzid.
The production of concentrate for anti-freeze mixtures is full automated, computer controlled continuous operation. Very important key of production is non-waste design. Biomass waste from production will be use for producing gas to generate power on biogas station. Waste water will be recycled back into production process. The waste from process will be only bio-fertilizer which is very good product to sell.
Base raw material is corn. We calculate with accessability of raw material from round 30 km because of logistic prices. Design of production does not require drying of corn. The process can execute 25% of raw material without using any stock only with good planning of harvesting and delivery to production. All other additives are accessable on Slovak or EU market (MEG-Slovnaft, MEK-Germany, detergent-Slovakia, ..etc.). Additive costs are 21,-EUR per MT of product.

The project is divided into 3 separate units:
a. Main production of ethanol and end product ? anti-freeze mixture. Capacity of production is 10.850MT of anti-freeze mixtures.
b. Waste execution from main production ? biogas station. Designed capacity is 12.000 MT of waste plus water produced from main production.
c. Power generation unit with producing of 1MW electricity plus heat used on main production.

Market prices:
a. corn = 100,-EUR per MT
b. anti-freeze mixture = 610,-EUR per MT (630,-EUR per MT with 96% ethanol)

Return on Investments (ROI):
Revenues per year:
Final product: 10.850 x 610 = 6.618.500,- EUR
Power: 7.200 GWh x 125,98= 907.056,- EUR
Total year revenues: 6.618.500 + 907.056 = 7.525.556,- EUR

ROI from cash flow:
Revenues Expences Tax Revenues after tax
7.525.556 ? 6.277.810 = 1.247.746 : 1,19 = 1.048.526 ,-EUR

Revenues after tax
1.048.526 ,-EUR + 12* 55.550,-EUR = 1.715.126,-EUR

ROI: 9.000.000,- / 1.715.126,- = 5,25 years

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