Business
Global Clean Energy Featured In Financial Post
Global Clean Energy Featured In Financial Post.
About this update from Global Clean Energy, Inc.
[{"type":"text","content":" When Building Your Own Technology Doesn’t PayDie-hard entrepreneurs have to be prepared to turn on a dime, hedge their bets and prepare for all contingencies. These are lessons brought to the business model at Global Clean Energy Inc., a U.S. company with its headquarters in Montreal and offices in Houston, Texas, and Las Vegas, Nevada.\nGCE is a “waste-to-energy conversion solutions company,” founded in 2006 by president and chief executive Earl Azimov. It had been developing technology to convert tires and plastics to diesel and gasoline and build and run pyrolysis plants, with minority partners.\nBut when Brian Levine came on board as chief operating officer two years ago, he realized the business had to make an abrupt shift. Despite initial success in developing its technology, to continue down that path would require at least an additional US$10-million to US$20-million and many months, if not years, to perfect.\nAs well, the company had been in a development stage for nearly six years and needed revenue to make it more attractive.\n“The investment community is looking for no technology risk,” Mr. Levine wrote in an email. “Too many companies have tried to create … their own proprietary technologies. … Rather than waste tremendous time and money … we opted to develop and lockup top North American sites, the precious real estate and feedstock, focusing on those … with proven ‘package’ technology rather than tolerating technology risks as so many have done and failed.”\nGCE abandoned its three tonne “super big barbecue on steroids” as Mr. Asimov called it, and scoured the world for existing technologies, finally acquiring systems from Britain and China. North America is 20 years behind Europe in renewable energy,” Mr. Levine said.\n“We were way ahead of the curve,” said Mr. Azimov. “We were on the bleeding edge.”\nTo staunch the flow of cash — the company was investing US$50,000 to US$100,000 a month on the technology — GCE decided this year that wagering the company on the future price of oil was a bet that had to be hedged\nThe PGM or...