Innovation Spotlight: Underground Renewable Crude Oil Production Platform
TechConnect Innovation Tracking: ReactWell LLC, a Project Finance Connect participant, Asia Pacific Clean Energy Summit, Honolulu, HI, 2012
ReactWell, L.L.C. is an incubator company located at the New Orleans BioInnovation Center. ReactWell bridges geothermal, oil well technology, water management, carbon offsets, and biomass to produce renewable oils and chemicals by de-coupling the production of a hydrocarbon from the consumption of a hydrocarbon.
The company is currently producing synthetic crude oil in the lab from biomass feedstock, which includes algae and waste. The next step for ReactWell is to assemble a field pilot testing facility to test the basis of their patent-pending underground reactor system at scale. The company believes its product represents a drop-in hydrocarbon replacement, compatible with existing refining and petrochemical infrastructure.
In addition to setting up a thermochemical laboratory as well as the beginnings of a field pilot testing facility in Louisiana, additional potential commercial sites of interest include Hawai’i, Texas, Nevada, New Mexico, Arizona & California.
ReactWell’s founder, Brandon Iglesias, has research, operations, technical services and corporate experience. In addition to his chemical engineering and research background, he also holds an MBA, Master of Finance and spent more than 5 years working in the oil and gas industry with Hess and later as an independent.
At the Asia Pacific Clean Energy Summit, Brandon tells TechConnect News, “The Summit greatly assisted with honing ReactWell’s message and market entry strategy. I was able to get immediate constructive feedback. I met with officials from the DOD, and they paid a site visit to ReactWell’s lab in New Orleans.”
Since presenting at the Asia Pacific Clean Energy Summit in Honolulu, HI last August, Brandon received a Kauffman Foundation sponsorship, which will assist in cultivating key relationships to help ReactWell build additional momentum, while acquiring critical insights and perspectives from seasoned entrepreneurs.
To learn more about ReactWell L.L.C., visit: http://www.reactwell.com/ or view the company's video at:http://vimeo.com/55320032 .
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