How's this for a bright idea? Biofuel cells that run on enzymes available in relatively cheap, plentiful quantities from easily accessible sources such as ethanol or sugar-based solutions.
That's the concept behind the emergence of Akermin, Inc., a biofuel cell research company in St. Louis, co-founded in 2003 by chemist and entrepreneur Nick Akers and Dr. Shelley Minteer, professor of chemistry at Saint Louis University.
Conventional fuel cells use expensive platinum as a catalyst to interact with hydrogen or methanol within the cell and oxygen from the atmosphere resulting in a chemical reaction that produces water and yields electricity.
With their biofuel technology, Akers and Minteer are developing portable energy-producing cells that run on the enzymes and organic-based fuel mixtures. The enzymes are derived from bacteria and act as a catalyst to liberate electrons from the fuels; the electrons are harnessed as electricity.
"Akermin's mission is to develop and commercialize portable fuel cells based on its proprietary SEBC™ (Stabilized Enzyme Biofuel Cell) technology," according to company's Web site. "SEBC fuel cells will offer significant cost and performance advantages compared to batteries and other portable fuel cell systems."
In this early stage, Akermin is focusing exclusively on research and development of prototypes. Down the road the two chemical entrepreneurs will focus their attention on production and marketing.
"Eventually our efforts could initially lead to the production of small fuel cell applications, replacing rechargeable energy sources for such devices as cell phones, laptops and MP-3 players," says Akers, the firm's president.
However, long before reaching a stage where sales will generate income, Akermin has successfully traversed a series of R&D funding stages, in a fashion typical of high-tech startups that deal with research capable of potentially evolving into lucrative commercial applications.
In March 2004 initial funding came from Saint Louis University and BioGenerator, a virtual incubator in St. Louis, says Akers. That stage led last October to a second stage - initial Series A venture capital funding - from several sources: Chyrsalix Energy, an international venture capital group focusing on fuel cell and related technologies; OnPoint Technologies, a strategic private equity firm funded by the U.S. Army; the St. Louis Arch Angel Network; and Prolog Ventures, a St. Louis-based venture capital firm focusing on life science technologies.
In addition, Akers is exploring possible Small Business Innovative Research (SBIR) awards from various federal agencies. While pursuing this funding avenue, Akers has benefited from the advice of Wayne Harvey, St. Louis-based business counselor with the Missouri Federal and State Technology Partnership (MoFAST) program. MoFAST is affiliated with the University of Missouri Extension's Small Business and Technology Development Centers (MO SBTDC).
"In working with Wayne I took one of his introductory SBIR classes to better understand the process and the possibilities open to our company thorough these federal awards," says Akers.
And because of the firm's impressive progress thus far and its potential for even greater achievements in the future, Akermin, Inc. will represent MO SBTDC at the second annual Client Showcase and Legislative Breakfast Thursday, Feb. 9, in the State Capitol Rotunda in Jefferson City.
At that event hosted by MO SBTDC, Akermin and more than a dozen other outstanding Missouri companies will meet with legislators to discuss their products and services. They also will be recognized for their contributions to the economic development of the state of Missouri. Recognition from MO SBTDC will be accompanied by legislative resolutions presented by each company's district state senator and state representative.
For more information on the services of the MoFAST program, call Harvey at 314-631-5509 or e-mail him at harveryw@missouri.edu
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