With the Environmental Protection Agency mandating a 90 percent reduction in mercury emissions by 2015, Denver-based Novinda
is in position for substantial revenue growth.
When injected into the flue at coal-fired power plants, the company's Amended Silicates product oxidizes toxic mercury, nearly eliminating it from gaseous emissions. The byproduct, cinnabar, is inert and not water-soluble, says Novinda CEO Ed Williams, and ends up in the plant's fly ash -- which is subsequently a salable commodity.
"One of the advantages to our chemicals versus others is we don't render the fly ash unusable for gypsum in drywall or concrete in cement," Williams explains.
Now in full production, the technology is currently undergoing tests at plants representing a majority of electrical generation capacity in the U.S.
William says he anticipates closing its first contract by the end of June. "We're right there," he says. "We're right at the cusp."
Developed by CH2MHILL and ADA Technologies largely with federal funding, the technology was spun off as a standalone company in Novinda in 2009.
Novinda currently has 10 employees in its offices in the Central Business District and generates about $1 million a year from consulting services. "It's a pretty efficient company," says Williams. "We outsource the manufacturing ad to a degree we outsource the sales. We are a technology and innovation company."
Williams has an ambitious forecast. "Our goal is to be at $50 million in revenue in three years," he says.
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