2012
The concept of SynSel is created after being incubated out of
Preon Power, Inc. of Elmhurst, IL. Whereas Preon focuses on critical power systems, Preon’s founder and majority owner, Tim Tawoda, saw an opportunity to produce liquid energy from renewable feedstock.
2013
SynSel is incorporated as a C-corporation in Delaware. Tim Tawoda is the founder and CEO. The initial capitalization of SynSel is through a friends and family raise. A few core executives join SynSel including: Brian Buckta (Executive Administrator), Mike Judd (Chief Technology Office – Core Plants), and Robert Brylski (Chief Operations Officer – Core Plants).
An early stage biofuel technology out of Norway is initially selected as the platform for a site in West Frankfort, IL. The project achieved initial funding, land control, permit work, and initial site drawings. This project was abandoned when the technology provider failed to achieve adequate funding.
An early stage biofuel technology out of Norway is initially selected as the platform for a site in West Frankfort, IL. The project achieved initial funding, land control, permit work, and initial site drawings. This project was abandoned when the technology provider failed to achieve adequate funding.
2014
SynSel initiates its first Private Placement Equity Raise (Series ‘A’ Preferred).
SynSel continues to vet several biofuel technologies including one that is exclusively licensed by a major gas & oil company. SynSel gains this licensor’s authorization to pursue site-specific projects as a non-exclusive developer.
SynSel continues to vet several biofuel technologies including one that is exclusively licensed by a major gas & oil company. SynSel gains this licensor’s authorization to pursue site-specific projects as a non-exclusive developer.
2015
SynSel closes its first round of its Series ‘A’ Equity Raise.
SynSel establishes SynSel Energi, AS in Norway as a sister company to the US-based SynSel Energy.
SynSel contracts with a co-developer, Pat Tucker, to build a biorefinery in Ontonagon, MI. The technology licensor visits Ontonagon with its engineering firm and approves the location as a qualified site for a biorefinery.
SynSel establishes SynSel Energi, AS in Norway as a sister company to the US-based SynSel Energy.
SynSel contracts with a co-developer, Pat Tucker, to build a biorefinery in Ontonagon, MI. The technology licensor visits Ontonagon with its engineering firm and approves the location as a qualified site for a biorefinery.
2016
SynSel initiates its second Private Placement Equity Raise (Series ‘B’ Common).
SynSel seeds its first project in Norway with its sister company, SynSel Energi, AS. The project proceeds through Phase 2 permitting. SynSel then sells SynSel Energi, AS to a major Norwegian wood company. SynSel receives infusion of working capital from the sale of notes. This allows SynSel to focus entirely on the US and Canadian markets.
SynSel continues to identify future biorefinery sites for future biorefinery development.
SynSel seeds its first project in Norway with its sister company, SynSel Energi, AS. The project proceeds through Phase 2 permitting. SynSel then sells SynSel Energi, AS to a major Norwegian wood company. SynSel receives infusion of working capital from the sale of notes. This allows SynSel to focus entirely on the US and Canadian markets.
SynSel continues to identify future biorefinery sites for future biorefinery development.
2017
SynSel contracts with its second co-developer, David Peterson, to build a biorefinery in Grand Rapids, MN.
SynSel re-establishes its primary focus on the Northern Great Lakes Wood Basket with planning for biorefineries in Ontonagon, MI and Grand Rapids, MN. Other sites continue to be considered.
SynSel raises additional working capital as it continues to pursue viable project financiers.
SynSel re-establishes its primary focus on the Northern Great Lakes Wood Basket with planning for biorefineries in Ontonagon, MI and Grand Rapids, MN. Other sites continue to be considered.
SynSel raises additional working capital as it continues to pursue viable project financiers.
2018
SynSel identifies a promising site in Cairo, IL for a biorefinery development.
The technology licensor visits Grand Rapids, MN with its engineering firm and approves the location as a qualified site for a biorefinery. Additionally, the Cairo, IL location is authorized for development. The Cairo plant is targeted to be twice the size and output of both the Ontonagon and Grand Rapids plants.
The technology licenses visits Ontonagon a second time. The project is approved for funding and initial permitting & engineering activities were authorized. However, soon thereafter the initial construction funding is increased from $300 million to $400 million and the construction schedule changes from 3 to 4 years. Due to the increased budget and schedule, the project is pulled from underwriting by the Construction Financier.
The technology licensor visits Grand Rapids, MN with its engineering firm and approves the location as a qualified site for a biorefinery. Additionally, the Cairo, IL location is authorized for development. The Cairo plant is targeted to be twice the size and output of both the Ontonagon and Grand Rapids plants.
The technology licenses visits Ontonagon a second time. The project is approved for funding and initial permitting & engineering activities were authorized. However, soon thereafter the initial construction funding is increased from $300 million to $400 million and the construction schedule changes from 3 to 4 years. Due to the increased budget and schedule, the project is pulled from underwriting by the Construction Financier.
2019
SynSel attends tcBiomass Conference. as Gold sponsor in October. SynSel reaches agreement to collaborate in a US Department of Energy Grant (DE-FOA-0001926: Drop-in Renewable Jet Fuel Blendstocks) with key partners and stakeholders. David Dewis joins SynSel as CTO – Enviro Industrial Parks. Cairo Illinois is added to the deal queue.
2020
SynSel reaches a Co-Developer agreement with the Bemidji Minnesota site. This site is located adjacent to the largest framing lumber mill in the USA. Waste product from the mill can facilitate 50% of the biomass needs of the future wood-to-fuel plant. Executive structure of the corporation is filled out with a new position for Chief Administrative Officer – responsible for on-boarding of all department Chiefs and Senior VP’s. Funding initiatives reach “pause” as the pandemic shuts down air travel and business/funding activity. SynSel’s preferred technology provider suspends business operations at their HQ facility.
2021
SynSel sites remain in the deal queue: Ontonagon Michigan, Bemidji Minnesota, Alton Illinois, Frenchtown Missouri, Cairo Illinois, and Grand Rapids Minnesota. tcBiomass Conference moved to 2022 due to pandemic. Funding and business activity starts to pick-up in late 2021. Technology provider resumes business operations in late 2022. Contingent commitment with top biofuels scientist upon SynSel funding in 2022.
2022
SynSel attends tcBiomass Conference in April as a Bronze Sponsor. SynSel executes a loan contract with lender for funding of the Ontonagon plant with closing anticipated in Q4 or late Q3. On-boarding of key executives will commence upon closing of $480MM loan for 1st biorefinery. Air travel begins post-pandemic and business/funding activity resumes. SynSel executes a paymaster agreement with Nilsson International AB. SynSel signs Affiliate Agreement with RJ Zavoral & Sons and commits to construction of the Bemidji Minnesota biorefinery while lender’s board approves funding.