Company: HydroCoal Technologies
School: Kennesaw State University, Coles School of Business
Team members: Tony London, Aaron Meredith, Randy Taylor, David Walker Taylor
Concept: HydroCoal Technologies believes it has just the thing for a world craving cleaner energy: more efficient coal that produces less greenhouse gases. Coal currently powers 50% of U.S. households, and international demand for the fuel is growing. HydroCoal's revenue would come from the sale of equipment and services, technology licensing, and also from selling coal-based substitutes for natural gas and oil products.
HydroCoal Technologies plans to start with the U.S. gasification (coal turned into gas) market. Environmental concerns and the prospect of emissions caps may impact future U.S. business, however. In that case, HydroCoal Technologies would look to overseas markets such as China, where coal currently satisfies 70% of domestic energy needs.
Timeline: HydroCoal Technologies has completed research and development on most of its technology. However equipment for the first targeted market is still up to a year away from being ready. HydroCoal projects revenues in 2008 and profitability by 2009. The company is currently seeking funding and plans to raise more money in 2009 and 2010 to fuel growth. - Herman Wong
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