30 Hottest Companies in Renewable Chemicals sneak preview: Rivertop Renewables

Note to Community members: Welcome to the sneak preview of the 30 Hottest Companies in Renewable Chemicals competition. This month, we are profiling nominees (not winners). Below, we are asking you to rate the companies. Digest Community member ratings will form 33 percent of the overall ballot for this years Hot 30.

Company name: Rivertop Renewables

Company description: Based in Missoula, Montana, Rivertop Renewables is innovating a new category of science – Progressive Chemistry. Merging proven science with renewable resources, Rivertop Renewables is creating an abundant and economical supply of sustainable, biodegradable and non-toxic chemicals and bioproducts derived from renewable plant sugars.

Year Founded: 2008

Annual Revenues: Pre-revenue

Major Investors (if a public company, please provide trading symbol and exchange). Rivertop is unable to disclose its list of investors.

Type of Processing Technology(ies) : (if applicable)

Rivertop’s oxidation chemistry creates an innovative technology platform which requires little capital to deploy, converts sugars into chemicals very cost-efficiently, and is extremely versatile. A wide variety of feedstocks can be oxidized into building block organic acids that can be applied directly in several markets or used as monomers for downstream applications.

Products: (renewable chemicals (base, fine, specialty, or platform), or bio-based materials (plastics, polymers, monomers, resins, lubricants, inks, detergents, surfactants, rubbers, adhesives, hardeners, additives, or other materials)

Rivertop’s oxidation technology can be used to produce a number of high value chemicals with a wide variety of applications. The company’s first products will be salts and other derivatives of glucaric acid, one of the top 12 building block chemicals identified by the US DOE in its 2004 report, Top Value Added Chemicals from Biomass.

Rivertop initially plans to use its glucaric acid as an effective and cost-competitive replacement for phosphates, citrates, EDTA and NTA in the multi-billion-dollar global detergent market.

Other near term market opportunities for glucaric acid include use in corrosion inhibitors to protect infrastructure and additives for concrete and wallboard. Longer term opportunities include various applications using advanced biodegradable polymers.

Feedstocks:

Rivertop’s oxidation technology is feedstock flexible. It can convert a number of sugars into high value organic acids. Corn is the current source of the cheapest, most abundant sugar – glucose, however algae or cellulosics are expected to provide second generation sources in the future.

Product Cost (if applicable – per US pound): (If you do not manufacture or have long-term stable feedstock pricing, please use the latest December futures contract pricing for traded feedstocks, or $55/ton for untraded biomass – or provide notes on your own feedstock pricing assumptions).

The primary input for the production of the salts and derivatives of glucaric acid is glucose. A 72% glucose solution derived from U.S. corn costs about $0.20/lb. Notably, for every pound of glucose input, Rivertop’s technology produces over a pound of product.

Offtake partners (if applicable)

Not available to publically announce at this time.

Co-products (if applicable) (e.g. feed, fuel)

N/A, Rivertop is a pure play.

3 Top Milestones for 2009‐10

Addition to team of industry leading CEO Jim Stoppert and VP of Process Development & Engineering Steve Donen
Patent foundation secured
Qualified product in detergent market
3 Major Milestone Goals for 2011‐13

Close first institutional financing round
Develop initial customer base utilizing contract manufacturing to prove demand & pre-sell commercial capacity
Complete the team by recruiting the best in engineering, chemistry, & business development.

Business Model: (e.g. owner-operator, technology licensor, fee-based industry supplier, investor)

Rivertop will sell glucaric acid formulations directly to large product manufacturers and marketers, such as those selling detergents.
For fragmented markets or those requiring complex formulations, Rivertop will seek development partnerships.
Competitive Edge(s):

Capital efficient platform technology
Feedstock flexible technology
Immediate, multi-billion dollar markets for first chemical – glucaric acid
Regulatory driver in sponsoring application – Replacing phosphates in detergents
Short Time to Market (2011) & Breakeven (2013)
Security & relentless development of Intellectual Property
Experienced leadership
(Stoppert – CEO, Donen – VP of Engineering & Process Development)
CEO: See http://rivertop.com/news/press-release-stoppert-named-ceo.php
VP Engineering: See http://rivertop.com/news/press-release-donen-named-vp-engineering.php
Distribution, Research, Marketing or Production Partnerships or Alliances.

Not available to publically announce at this time.

Stage (Bench, pilot, demonstration, commercial)

Lab – Bench, Pilot in 2011, Commercial in 2013.
Projected production volume for 2011:

500,000 to 1,000,000 pounds through contract manufacturing

Website URL

www.rivertop.com