Innovate Mississippi

2012 Mississippi Renewable Energy and Energy Efficiency Report

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ENTREPRENEURSHIP ENTREPRENEURSHIP The basic definition of an entrepreneur is one who organizes a business and takes responsibility for it. Strategic Biomass Solutions, however, takes a slightly narrower view of entrepreneurship, one that emphasizes innovative new business models and breaking new ground. It is often the case that entrepreneurs in the energy sphere face a wide range of risks, including technology risks, market risks, finance risks, management risks, and execution risks. Of specific importance in this area is the concept of the "valley of death," the time between initial capital expenditures and revenue generation sufficient to meet these expenditures. Along with the multitude of risks faced by any entrepreneurial venture, innovate projects in the renewable energy sector often face a wide and deep valley of death; in other words, it can take a great amount of both time and money before the project reaches profitability. This makes collaboration between various entities, including local, state, and federal government as well as private businesses and non-governmental organizations very important, to bring these projects to fruition. The previous few years have seen an expansion of renewable energy production and energy efficiency utilization in Mississippi. From retrofits to existing buildings to the next wave in biofuel and bioenergy production, the Magnolia State is ground zero for what is unmistakably exciting development in this emerging sector. Mississippi has abundant room to grow in these areas; for instance, a recent report by the American Council for an Energy Efficiency Economy placed Mississippi as 51st among the states and the District of Columbia with respect to renewable energy. While there are multiple parts to any story and multiple players in any game, the entrepreneurs have been important to this area. Whether it is a "home-grown" project promulgated exclusively by Mississippians or a company that has realized the abundant resources and advantages available in Mississippi, both represent entrepreneurial endeavors that are at the heart of an emerging technology sector that claims numerous benefits, including jobs, local investment and potential energy security. 333333339933 333333339933 Profiled below, in alphabetical order, are various examples of renewable energy and energy efficiency related companies and projects in Mississippi. The aim of this section is to examine the types of technologies present in Mississippi, as well as examine the motivations and incentives renewable energy and energy efficiency related entrepreneurs have for locating in Mississippi. 2012 BTH Quitman Hickory/New Biomass Energy, LLC pi Renewable Energy A product that holds great potential for the production of renewable power and gy Efficiency electricity is torrefied wood. This wood is the result of a "mild pyrolysis" process whereby Report cellulose and lignin are separated from other products (such as hemicellulose and water) contained in wood. The resulting material, torrefied wood, is charcoal-like in nature, meaning that it can be he Status of Renewable Energy pulverized and mixed in with coal (or totally replace coal) as an electrical power feedstock.6 ciency in the State of Mississippi 3|P a g e

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