A Minneapolis web startup is beginning work on a new platform to help farmers and foresters to sell leftover materials as a renewable fuel.
Since November, the
Minneapolis Biomass Exchange has served as a sort of craigslist for buyers and sellers of biomass, a term for plant-based materials like wood chips or corn stover that can be burned to offset coal or other fossil fuels.
By fall, founder and CEO Kevin Triemstra expects the site will function more like a Priceline.com for energy crops. The company received a fresh infusion of investor funding last week that will allow it to begin building out new online bidding features immediately.
As utilities and other companies seek to cut their carbon footprints and comply with new regulations, there is a growing demand for biomass fuels. Finding a steady supply, however, has been a challenge for buyers.
Triemstra, a former software engineer, started the Minneapolis Biomass Exchange in July 2009 with the goal of providing a more organized marketplace for buyers and sellers to find each other.
So far, users have been able to post free ads and exchange messages, but all of the dealmaking has had to take place offline. The new features will allow buyers to make electronic bids on certain materials. If the seller chooses to accept a bid, the sale would be processed directly through the site, with the Exchange taking a fee.
The Minneapolis Biomass Exchange will also offer to arrange transportation for sales and assist sellers filing for federal renewable energy incentives.
"We'll explore any way that we can help facilitate the movement of biomass," Triemstra said.
Triemstra said he planned to hire local contract programmers to start work on the new features, possibly as soon as this week. He also expects further investment later this summer after the state's new angel investor tax credit takes effect.
Source: Kevin Triemstra, Minneapolis Biomass Exchange
Writer:
Dan Haugen