Green Refineries Could Be Coming Soon, Says This Nanotechnology Additive Company

Picture credit: Maksym Kaharlytskyi on Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Approximately 700 oil refineries around the world today supply the fuel that makes things like our cars run.

Even as the world tries to become greener and rely less on fossil fuels, there is little doubt gasoline-powered vehicles will still be very much a thing in the years to come, and some estimates predict they will make up at least half of all vehicles in 2050. That means refineries likely will still play a vital role well into the 21st century.

But can the fuel coming from such refineries be made more efficient and less damaging to the environment?

Efficiency and Lower Emissions

Startup fuel additive producer FuelGems Inc., which is raising additional capital on StartEngine, reckons it has a possible solution that is relatively simple for refineries to take on board.

By simply adding its fuel additive in microdoses during the refinery process, the resulting gasoline will be more efficient, and emissions will be reduced significantly — even as much as by half, FuelGems claims.

While more mature fuel additives such as ethanol are typically added at much larger concentrations — namely 100 liters per 1 ton of fuel — the FuelGems additive is added in tiny amounts, just 1 to 5 grams for that same 1 ton of fuel.

FuelGems is betting that the combination of better fuel efficiency, lower emissions, and the microdose treatment could be a winning fuel additive formula when it comes to working with refineries.

Pilots Needed

The startup, backed by the Austin, Texas-based venture capital group Sputnik ATX, as well as the company’s own crowdfunding initiatives, is carrying out pilot and pre-pilot projects with some refinery groups to see how its nanotechnology works in the field. A successful refinery partner could generate up to $27 million in revenue for FuelGems from just a single refinery, according to company estimates.

Major energy names FuelGems is working with include BP plc BP and Suncor Energy Inc. SU, and it says it is working with operators owning approximately 15 refineries. About 220 refineries are located in the United States and Europe alone, according to FuelGems.

The startup also is targeting gas station operators to pilot its fuel additive. From there, the company aims to move on to corporate fleets and the business-to-consumer (B2C) market.

FuleGems was co-founded by CEO Kirill Gichunts, an entrepreneur who helped exit two startup companies. His team consists of six scientists and engineers while the backing of venture capital group Sputnik ATX is led by Ivy League physicist Oksana Malysheva.

*Disclaimer: The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. Benzinga may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer’s securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17b disclosure linked in the campaign page for more information.