Original Innovators
GasTechno Major Milestones
January 5, 2015 North Dakota Grant Request
June 8, 2015 SBIR DOE Grant for DMM
May 25, 2016 Ocean Tomo Patent Valuation of $41.5 million
July 10, 2016 Patent Transfer pricing study completed by Duff & Phelps
January 27, 2017 Ocean Tomo Revised Patent Valuation of $135.2 million
November 14, 2017 Polytechnique de Montréal Agreement for DMM & PolyDMM
February 28, 2018 Stratas Advisors Agreement completed Market Assessment of DMM & PolyDMM
August 2018 – May 2019 Developed new licensing program
May 2019 Started licensing, first customer May 2019, second customer July 2019
March 2021 Completed AON QoIP Study
August 2021 GasTechno Energy & Fuels (USA) LLC closed $7.0 million in Series A financing.
Commercial Readiness Timeline
July 5, 2017 – approved DBOOM site in North Dakota per $7MM PPM strategy
July 21, 2017 – fly to ND with Schunk Oil Field Services to engineer site plan
September 1, 2017 – start NGL plant after 3 weeks construction
November 10, 2017 – complete $15MM PPM for DBOOM strategy
December 31, 2017 – generate $69,923 NGL revenues at year-end
January 10, 2018 – Mini-GTL from Michigan in -40 degF extreme weather
January 12, 2018 – accept last $25,000 investment from $7MM PPM before closing
January 31, 2018 – delay $15MM PPM issuance due to further extreme weather
February 2018 –weather was often -40 degF temps (one of worst in ND history)
March 2018 – search for new ND customer with flared gas exceeding 1 mmscfd
April 9, 2018 – close down site in ND and return to Michigan
May 2018 – move Mini-GTL 300 plant and all equipment to Utah
July 12, 2018 – cancel Utah testing program due to lack of capital
July 18, 2018 – hire IP Capital Group on designing licensing strategy
July 26, 2018 – receive IP Capital Group report on Patents
August 1, 2018 – cancel $15MM PPM to change strategy to licensing model
August 1, 2018 – receive licensing candidate list from IP Capital Group
August 1, 2018 – start updating sublicensing agreement with Simmons & Simmons
October 26, 2018 – GTL parent acquires Idrocomp Compessors in Italy
November 13, 2018 – visit ND to evaluate $5.3 million equipment for $1.5 million
December 31, 2018 – Nexant completes new GasTechno Mini-Methanol Study
March 5, 2019 – investigate tax conversion of LLC to corporation
March 15, 2019 – second critical diesel patent approved by USA patent office
April 23, 2019 – GTL parent files for captive “Integrated Energy Insurance Company”
May 1, 2019 – GasTechno technology licensing program announced
May 8, 2019 – first customer signs agreement for $1.6 million equipment purchase
June 12, 2019 – Tennessee approves “Integrated Energy Insurance Company”
July 29, 2019 – second customer approved $2.8 million equipment purchase