Karl Young · Fri, 01/21/2011 - 22:26
Business
Business Overview:
To manufacture X-Cap and to license the X-Cap technology for international distribution. Electric vehicles and EV charging stations will become practical realities using X-Caps. The Smart Grid distributed storage will become a reality, as well. Solar and wind farms will become practical, more profitable and more useful to the Grid.
Project Type:
Industry:
Project Website:
http://www.extremecapacitor.com What are your future milestones, and how much capital will you need to achieve each of the milestones outlined?:
In...
6-Months: Complete lab prototype for validation tests ($100K USD).
10-Months: Complete 1-kWh prototype for full testing protocol ($150K USD).
12-Months: Complete 10-kWh prototype for electric vehicle tests ($200K USD).
18-months: Complete 100-kWh prototype for utilities tests ($300K USD).
24-months: Complete construction of pilot production line (250K USD).
30-months: Complete construction of larger and optimized pilot production line ($500K USD).
36-months: Complete small-size optimized production line (12 MWh/year) ($1M USD).
What is your total and operating cash burn (the amount you're spending) per month? :
36-months average: $70K USD/month
How many future rounds of financing do you project? :
Seed round: $2.5M
A-round: $20M
B-round: $100M
IPO: $500M+
Services Desired:
Accounting
Management Consultant
Legal-Intellectual Property
Manufacturer
Engineering
IT
Grant Writer
Capital Broker/Dealer
Who is the Customer?:
Initially, the automotive industry would be our target; along with the utilities. Since we have good connections to the military, the Services would welcome a 20X supercapacitor for their existing and future missions. We have been in close touch with large supercapacitor manufacturers, and they have expressed strong interest in the X-Cap technology once fully validated. They would assist us to commercialize the X-Cap through licensing and/or distribution.
What is the Customer Pain that you are solving?:
- Affordable energy storage in $/Wh
- Long life
- Fast charge/discharge
- Lower ownership costs
- High reliability
- Non-flammable, no hazardous materials
What is the Target Market?:
- Automotive (EVs)
- EV charging stations
- Utilities (distributed storage, load-leveling, regulation, auxiliary)
- Renewable energy generation
- Power backup
- Personal electronics
How big is the Target Market in terms of Annual Sales?:
$5B-$50B
Sales/Marketing Strategy:
- Demonstrate X-Cap in EVs and electric buses in range and charge speed.
- Demonstrate X-Cap X-Cap in Smart Grid applications to the utilities.
Provide use cases :
Currently at lab device level.
Competition:
Supercapacitors:
- Maxwell Technologies
- General Atomics
- EEStor (?)
Batteries:
- A123
One-line Pitch:
We have developed a new generation of energy storage that can store 20X over supercapacitors, 2X over lithium-type batteries (by weight), minutes to charge, over 1-million cycles in life, no hazards and to be less than $300/kWh.
Business Model:
To manufacture the X-Cap ourselves, initially. Then license to other supercapacitor mfrs that are strong in their respective markets. The automotive industry is most pressed for a practical and affordable energy storage solution, where the X-Cap would be best received. The utilities is the next market most pressed for an X-Cap solution, where it can can less than $300/kWh and has a greater than 500,000 cycle-life in extreme climates. Other significant markets include the military, power backup and personal electronics.
Product/Services Overview (what does it do):
X-Cap will replace batteries, supercapacitor and many gasoline engines; because it is much lighter, more compact, and stores 2X more energy than the best batteries on the market by weight. A 1-time investment in a X-Cap power-pack will last for the life of the X-Cap casing (approx. 30-yrs).
Technology
What makes the technology/business unique and have a defendable competitive advantage?:
X-Cap is a revolutionary technology or game-changer not only in energy storage, but also for the auto industry. X-Cap can replace car engines, all together. The X-Cap and electric motor/controller will weigh less than a gasoline engine, the transmission, the differential, the fuel system, the cooling system and the exhaust system, and will enable a 3300 lb (1500 kg) EV to travel at least 200 miles (320 km). No more air pollution from car exhausts; which more than 10,000 people die each year in the U.S. alone directly from vehicle air pollution. The cost of electric energy is 75% less than gasoline to travel the same distance.
EV charging stations can be much smaller and safer than a gasoline station, so it can be installed in public or commercial parking lots (or at home) for a 3-5 minute charge per vehicle. There are over 115,000 gasoline stations in the U.S., and we predict over 1,000,000 charging posts in the U.S. in 20-years (each charging post can handle 4-cars).
Describe in detail the technology used in the Project - Address the innovation in significant detail :
Carbon nanotube filaments replace activated carbon in existing supercapacitor designs. Special current collector design increases power. Proprietary electrolyte to increase charge storage. Combined, these new features would enable X-Cap to store 20X more energy than existing supercapacitors by weight.
What are the principles of the technology? :
Increasing electrode surface area by over 10X and the new electrolyte performance by 2-3X.
What, if anything, has been proven (and how far is this from a commercial scale)? :
3rd party lab validation. About 18-24 months to commercial scale, after funding.
What challenges/risk does the technology face for commercialization?:
The cost of carbon nanotubes needs to drop by 100X.
Patent Numbers (Filed/Approved):
Non-provisional patent filed in Jan 2010
Team
| Name | Title |
|---|---|
| Karl Young | CEO |
| David Krausz | CMO |
| Carl Zachrisson | CTO |
| Gordon Yue | VP |
Steven Borochoff
David Madden
Josh Gould
David Rummler
Jason Xu
Financials
Amount Sought:
$2,500,000 If raising funds, what shall the funds be used for?:
Build full-size prototypes, validation tests by federal agencies, field tests in electric vehicles, tests at EV charging stations and at utilities for Smartgrid storage/load-leveling.
Pre-Money Valuation:
$1,500,000
Funding Received to Date:
$0
Amount invested by Founders:
$55,000
Funding Stage:
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