Hatch Program 1
13 Nov 2021
David Rochaya is a technology developer from Southport, Queensland. He holds a Bachelor of Process Engineering and a PhD in Combustion from Cranfield University. He recently completed a Financial Modelling and Valuation Analyst Certification course from the Corporate Finance Institute. David applied to the Hatch program to test his solution's desirability and seek help to develop his business case.
Validating the Idea
David founded Biopower Solutions intending to transform waste into energy solutions. By converting grains residue into hydrogen and further into hydrogen derivatives such as ammonia or methanol, David believes his innovative idea would add a revenue stream for growers and be beneficial for transport, mining, marine, and industrial sectors.
During the program, David interviewed several customer segments, including sustainability managers, primary producers, and councils, to learn that they were all looking for different ways to valorise the waste. A critical insight also revealed that farmers are a part of the value chain for his concept rather than end-users. As a result, he will now pivot his idea to make hydrogen for methanol or ammonia for direct consumption.
Coaching from the F2F mentor also encouraged David to explore bagasse for hydrogen production, assess the cost of equipment required to produce hydrogen, storage solutions on-farm and identify potential uses of hydrogen or by-products on the farm to reduce costs associated with transporting the product to the market.
A great team of experts in the agricultural sector and a very fine-tuned programme!
▪ Finalising the business case with a grain grower
▪ Building Minimum Viable Product and a pitch deck for his product
▪ Formulate a scope of work plan for his pilot and identify key legal aspects
▪ Apply for research grants that convert under utilised agriculture waste into products
▪ Raise funding for approx. $200k to produce a demonstration unit
▪ Search for a suitable co-founder