A Canadian company is hoping to challenge Big Oil with a mini biofuel refinery that can be sold to individuals as well as to concerns such as trucking companies, mining operations and agricultural institutions. The idea is that recycled or virgin vegetable oil can be turned into usable green biofuel with the help of the “Frankentank,” a device created by Luc Duchesne and Norm Jaehrling. Northern Ontario Business reports that the pair hopes to be able to challenge to supremacy of Big Oil:
Should Big Oil be worried? “We’re counting on it,” says Jaehrling, laughing.
The device has generated a “considerable amount of interest” internationally with 10 units already pre-ordered.
“We’re getting inquiries on a daily basis.”
Photo:Following The Herd, Creative Commons, Flickr
Even though it does run on electricity, the Frantank biorefinery could also utilize co-generation devices, making it possible to use greener methods to run. Of course, if one has a way of generating electricity from wind or solar power, than the biorefinery could be even more green-friendly. The device is expected to roll out this autumn, with second-generation mini biorefineries already in the works. It is being sold through the company SITTM Technologies. (That’s right — Stick It To The Man.)
This is only one example of the innovation that we are beginning to see. Big Oil companies like Exxon (XOM) that refuse to innovate may find themselves behind the curve as more and more people find that alternative energy can be affordable with the help of innovative devices like the Frankentank.
However, it is important to keep in mind that the area of alternative energy is new and, in many cases, in the research stage. This makes investing in some alternative energy ventures rather risky (even if cheap). Investors may want to take a “wait and see” stance on where SITTM Technologies ends up, along with other ambitious alternative energy projects. However, with Big Oil moving reluctantly in terms of alternative energy investing, it may be up to the small innovators to bring us out of the 20th Century of energy production and into the 21st.
Disclosure: I do not invest in XOM. I am not fond of XOM at all, due to its corporate environmental stance. I am interested in investing in new alternative energy technologies and will be anxiously awaiting the debut of the Frankentank and other innovative energy products.