Bioenergy Profits Principles: Obtaining Vital Information, and cellulosic ethanol
What is it I was Looking For?: PROFITS Principle, Obtaining Vital Information – Part II
Over the next few weeks, Dr. Rosalie Lober, highlights (from her newly released book, Run Your Business like a Fortune 100: 7 Principles for Boosting PROFITS), proven principles to running your business more effectively and illustrates best practices of currently successful ethanol and cellulosic ethanol producing biofuels companies.
By Biofuels Digest columnist Dr. Rosalie Lober
As we continue exploring ethanol companies, employing the PROFITS Principle of Obtain Vital Information, I personally relied on this principle to guide me through this series. In the last installment, we discussed there are generally three steps when converting feedstock to ethanol. Lots of biofuels companies became apparent as a result of researching the feedstocks and technologies.
There are also several companies that use similar technologies to produce different fuels. These may be renewable diesel, biobutanol, biodiesel as well as ethanol. When you add the different feedstocks to the mix, the possibilities multiply.
How do you focus on all that’s important and exclude the rest? You’re probably doing a lot of the right things already if you:
• Decide what you’re looking for
• Clarify your purpose
• Find the best data
Decide what you’re looking for
In actuality, you may not exactly know what you’re looking for. With the wealth of information available, a linear roadmap no longer exists. As new bits of data appear in your research, your mind may want to go in a new direction as it puts together important information.
Staying focused is difficult. You may not trust that you’re on the right path as you begin your research. It works well to clarify your purpose and what you want to find, with a group of others in your organization. This approach is a best practice when pursuing a course of action that can withstand interesting opportunities that are distractions, which may veer you off track from your purpose. Working in tandem with others helps you remind one another of your company’s core capabilities and to find solutions and alternative solutions that position you for growth over the long term.
For example, when looking at ethanol producers, do you want to limit your research to those that use enzymatic hydrolysis, such as POET, Mascoma or Verenium? Or are you interested in those companies like Coskata that utilize a gasification technology?
Clarify your purpose
Recalling why you are in business and leveraging your mission keeps you focused too. As simple as this may sound, keeping your company’s mission statement in front you, whether it is on your computer, pasted onto your briefcase or prominently displayed in your conference room, reminds you to stay alert to your goals. It’s easy to find lots of possibilities and options, yet follow most of these will most assuredly dilute your focus if you stray from your purpose.
You may have a particular feedstock that you want more information about. Perhaps you are thinking about purchasing a farm or plant. This goal will influence the companies you research. Using an instrument like the Biomass Scorecard can help you obtain vital information about the location, land/soil, climate required, density, etc. and can help you to determine a particular feedstock feasibility.
Perhaps you want to research companies that moved from first generation ethanol production to second generation, like POET. Clarifying your purpose will help focus and limit your information search.
Find the best data
Are you familiar with the reputable sources of information in your area of expertise? Are you certain of the areas you want to explore? Is your best data available on the internet? Do you know the specialized reports that aggregate the data in the field you are most interested in? Have you checked Biofuels Digest or other reputable world-class publications?
For example, a few days ago Biofuels Digest reported that $24 million in R&D grants were made available by US Departments of Agriculture and Energy today for biofuels, bioenergy and high-value biobased products. Of the $24.4 million announced, DOE plans to invest up to $4.9 million with USDA contributing up to $19.5 million. Not too shabby!
In the area of cellulosic ethanol feedstocks, Oklahoma State University (Stillwater, OK) was awarded up to $4,212,845: to develop best practices and technologies necessary to ensure efficient, sustainable and profitable production of cellulosic ethanol feedstocks. Utilizing large-scale feedstock production research, the economic and environmental sustainability of switchgrass, mixed-species perennial grasses and annual biomass cropping systems will be evaluated, and the synergy between bioenergy and livestock production will be explored.
If you are researching cellulosic ethanol feedstocks, Oklahoma State University would be a very important research project to follow very closely.
In our next installment, we will learn the best practices for searching data to your specific purpose. Until next time…..
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