First and foremost, you cannot just pitch a project here soliciting 1 million USD with mere hollow words. Present a convincing project proposal. Present everyone involved in the team and their expertise and other credentials. Present a proper feasibility study. And since you claim that this is backed by the government, present all the documents including signed and notarized Memorandum or Understanding or Agreement and all kinds of permits from the national down to the local level.
But before everything else, I'm a little embarrassed that the government-- if this is true-- is part of a plan trying to attract investors by promising free electricity on an island where a lot of its inhabitants don't have electricity and the rest can only enjoy it for a few hours every day.
Good to see that there is, after all,
someone who conducts a little bit of research instead of just assuming another scam.
Let me address your last concern first:
You are on spot. The island of Mindoro happens to be the
"Brown-out capital" of the Philippines. Up to 12 hours a day without electricity is not uncommon. I live in Mindoro for the last 2 1/2 years. And this is precisely how the project started out. I have developed off-grid solutions based on
biomass pyrolysis for the USACE in cooperation with FEMA in Afghanistan and Iraq from 2007 to 2019.
While we have focused on the extraction of energy-rich gases (H2, CH4, CO) or
"Syngas" to run gen-sets, the byproduct "Biochar" (a residue of the process that accounts for about 30 percent of the initial feedstock) was useless for us.
Well, things have changed significantly during the last few years. Biochar has become an
internationally traded commodity with prices reaching up to 2,500 USD per ton. Many producers of Biochar do not even capture most of the produced Syngas or the process heat. For them,
the energy is the byproduct, and the revenue is generated exclusively from the Biochar.
Additionally,
one ton of Biochar can obtain 3 carbon credit certificates (one CC for each ton of CO2 reduction) that can be traded on exchanges like
www.ctxglobal.com. CCC’s for biochar trade for
around 300 USD each on the exchanges if the right production process is used. So why bother with the few pennies that one can make with the gas? Especially if one lives in a country where electricity is cheap, right?
But for us here, living with the constant power outages is
extremely frustrating, to say the least. Of course, everyone who can afford it has a solar system and many have small backup generators. But this is not really a solution. The economic loss for the island is
estimated at 400 million Pesos per day (around 8 million USD).
So, I began to investigate the available options and found, that for this region, biomass pyrolysis is the ideal method of electrical power generation. For the simple reasons that
the required feedstock is available in abundance and that the initial investments are moderate.
The
Development Bank of the Philippines (DBP) has its own Renewable Energy financing program called
FUSED.
https://www.dbp.ph/developmental-banking/infrastructure-and-logistics/financing-utilities-for-sustainable-energy-development-fused/ Anyone who is interested might contact
Mr. Rustico Noli D. Cruz (Head, Program Development and Management Department) at:
mdcruz@dbp.ph, or
Mr. Jericho N. Martinez (Program Development and Management Department) at
jnmartinez@dbp.ph and ask about the WE initiative in Mindoro.
I and my team have created the
complete feasibility study and a presentation that outlines our approach to replacing the current capacity of
80 MW of oil- or gas-fired power plants in Mindoro over a period of 5 to 7 years with modern biomass pyrolysis plants. The project will not only create up to
25,000 jobs on the island in forestry, transportation, agriculture, engineering, etc. and
increase its GDP by over 300 million USD through the sale of valuable Biochar, it will also help the Philippines to
save 80 USD in foreign reserves annually, become independent from the costly import of fossil fuels, and to transition to a sustainable economy with a
carbon negative balance sheet.
Alright. So far, I have only scratched the surface. This project has, until now, created several hundred pages of analyses, studies, spreadsheet calculations, and PowerPoint presentations. Will anyone in the Bitcoin forum read any of it? Would anybody be at least remotely interested? What do you think?
The DBP will engage in the project after we can present a
working pilot project that proves that biomass pyrolysis can be a sustainable form of power generation for Mindoro and for the Philippines as a whole. They are familiar with power generation from biomass combustion, but the 100+ year-old process of biomass pyrolysis is
too abstract for the officials. Just showing them countless videos of similar power plants all around the world does not do it for them. They need to see it in action. Alright then.
So what are we talking about? Do we need to build a prototype biomass pyrolysis power plant ourselves? No! This is
off-the-shelf technology. The complete system is
ready to order and can be fully operational within less than four months. It produces 24/7 electricity from the feedstock that we have here in abundance. We have guaranteed prices from Biochar importers in Europe and the USA for up to 10,000 tons annually. Additionally, we will
receive carbon credits for every ton of Biochar produced that we will sell.
And here is the twist: Even though my initial approach was to develop a solution for the island of Mindoro to generate sustainable electricity, after getting deeper into the subject matter of Biochar and Carbon Credits, I and my team have realized that
the electricity that we will produce is actually really just a nice addition.
But still, the project hardware and facility need to be financed, right? I had a small GPU mining farm a few years back. It was fun, but at one point, it was just not profitable anymore and I called it quits.
And this is how the approach came about. The lenders want to see how we can generate electricity 24/7 from locally available feedstock reliably.
Can we talk to commercial banks or maybe the importers of the Biochar to give us the required loan? Sure, but this is a very tedious process where we are talking about collateral, equity, ROI, cash-flow forecast, and much more.
So why don’t we just do something crazy?For how long did Bitcoin get bashed for its
environmental impact and the massive amounts of CO2 that its transactions produce? Forever!
Now imagine a scenario where one, ten, or one hundred bitcoin miners finance a project that produces a commodity (Biochar) that is
carbon negative (the CO2 that the plants have captured during their growth phase is solidified, stored in the Biochar, and – when put back into the soil – withdrawn from the atmosphere for hundreds or thousands of years).
Is that a headline? What do you think?Our goal is to get the pilot project
up and running as soon as we can. All required preparations are made. The amortization period (1 million USD investment) just from the sale of the Biochar is around
maximum 220 days. This means that after this time,
all investors got their contributions back. Additionally, the
electricity is free for each investor to use it for mining. Meaning that, for example, a miner who invests in a 30 kW share of the available max. 500 kW (0.5MW) and who has 10 machines with around 25 USD daily profit each, generates 55,000 USD in the same time (220 days) that it takes to get his investment back. And as we will make the contract
for a total of 36 months of free electricity, the mining revenue could amount to 273,750 USD if the daily rewards would remain constant.
So, yes. You do have a valid point in calling me out for not providing sufficient information and using “mere hollow words”. But do you really believe anyone would read through all the information if I would have put it online? This is already the shortest I could do. I have no problem providing very detailed information and making everything completely transparent. But I think that does not necessarily need to happen in a first pitch that only has the purpose to get the attention of the right people.
I wonder if anyone reads this reply. Nowadays, most people don’t even finish a headline anymore.
Cheers