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Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

prometheusfuels.com

31–40 of 124 posts

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#31

Feasibility aside, this is exactly what people want to hear today. Eliminate CO2 from the atmosphere and sell gasoline. You have to give them credit for the pitch, regardless of what is or isn't delivered.

I have this great idea about doing blood assays for all of the common tests out there out of a little pinprick worth of blood from your fingertip. It's exactly what people want to hear today. How about some funding?

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#32
post #26

Didn't Google X try out something similar, and then decided it was uneconomical? https://x.company/projects/foghorn/

The US Navy continues to research similar technology for manufacturing synthetic kerosene out of sea water onboard aircraft carriers. They aren't too concerned about economics. Their goal is to reduce the amount of jet fuel they have to haul around.

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#33

They seem to be heavy on vision, marketing and zero-net-carbon partnerships with huge brands, light on technical detail (i wouldn't hate some links to papers or a PoC of their reactor or something), all of which feels a little Nikola-y. Thin articles touching on the technology: https://prometheusfuels.com/on-the-road/meet-our-v3-faraday-... https://prometheusfuels.com/on-the-road/worlds-1st-machine-t... Hopefully som…

I've done a decent amount of research on Prometheus Fuels, and I'm a believer.

They've licensed a couple of key technologies out of Oak Ridge. First is a catalyst that converts CO2 + H2O + electricity directly into ethanol. The other is a membrane with parallel carbon nanotubes that are just the right size to filter that ethanol. The rest of the business involves the chemical conversion of pure ethanol into other types of hydrocarbons.

The result is the ability to efficiently create carbon-netural fuel, effectively capturing a percentage of the electricity as gasoline (or jet fuel, etc).

Of course, this is less energy efficient than simply burning fuel that you found in the ground. The advantage is that they can bypass the expensive drilling, refining, and transportation steps and use cheap renewable energy to create fuel literally anywhere they can stick a shipping container.

That's the goal, anyway. I really hope they succeed.

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#34

I'm confused about how this is on the front page. The title says they've raised a Series B at a big valuation but the link is just their marketing page, with no mention whatsoever of a raise.

Sorry, I'm not sure what happened there. The actual release is tucked away on their blog:

https://prometheusfuels.com/on-the-road/prometheus-is-first-...

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#35

Feasibility aside, this is exactly what people want to hear today. Eliminate CO2 from the atmosphere and sell gasoline. You have to give them credit for the pitch, regardless of what is or isn't delivered.

It definitely passes the Mr. Burns test: https://twitter.com/sethbannon/status/1214215295969030148

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#36
post #16

They seem to be heavy on vision, marketing and zero-net-carbon partnerships with huge brands, light on technical detail (i wouldn't hate some links to papers or a PoC of their reactor or something), all of which feels a little Nikola-y. Thin articles touching on the technology: https://prometheusfuels.com/on-the-road/meet-our-v3-faraday-... https://prometheusfuels.com/on-the-road/worlds-1st-machine-t... Hopefully som…

And how a physical good/energy company that is worth $1.5B only has 20 employees...

Definitely better valuations on Canadian companies in the carbon-neutral 'area', and better ideas in my opinion

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#38
post #32
post #26

Didn't Google X try out something similar, and then decided it was uneconomical? https://x.company/projects/foghorn/

The US Navy continues to research similar technology for manufacturing synthetic kerosene out of sea water onboard aircraft carriers. They aren't too concerned about economics. Their goal is to reduce the amount of jet fuel they have to haul around.

> Their goal is to reduce the amount of jet fuel they have to haul around.

Which has economic consequences :)

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#39
post #21

They seem to be heavy on vision, marketing and zero-net-carbon partnerships with huge brands, light on technical detail (i wouldn't hate some links to papers or a PoC of their reactor or something), all of which feels a little Nikola-y. Thin articles touching on the technology: https://prometheusfuels.com/on-the-road/meet-our-v3-faraday-... https://prometheusfuels.com/on-the-road/worlds-1st-machine-t... Hopefully som…

I found this article written by the CEO in a journal outlining some technical details. https://www.cell.com/joule/pdf/S2542-4351(20)30002-7.pdf His breakthrough technology is supposed to be the carbon nanotube membrane as explained here. https://news.ycombinator.com/item?id=19842240 But, the two papers he cited in the Joule article don't go as far as actually separating water and ethanol. It's questionable whether th…

I think it's fair to assume that this technology is feasible at this point. McGinnis' other company, Mattershift, specializes in these kinds of membranes. IIRC they started in the desalination world, but have since found other applications.

https://www.greencarcongress.com/2018/03/20180310-mattershif...

Re: Prometheus Fuels (YC W19) Closes Series B with $1.5B Valuation

#40

I admire the attempt to make your site really cool, but jeez it's so unusable. Perhaps the most "form over function" site I've used in years. Please use a million or so and just make the website a static site.

I think you could have both. Static home page with a link to "Experience Prometheus".
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