Co-Founder Chris Rafuse said the company, which was founded this year, has found a method to use a form of biomass to produce three industrial compounds: polyphenols, which are used in pharmaceutical industries to help with obesity and Type 2 diabetes; lactic acid, which can be used in 3D printing, plastics and other industrial uses; and another compound that Rafuse declined to name.
Refuse said the company is attacking a $4 billion global market opportunity, and current methods of producing these materials involve extraction from petrochemicals and result in a lot of waste. There is no waste with the SeeChange process, he said, and users demand more sustainable sourcing.
“We’ve never made an outside call,” said Rafuse, adding that the company’s six prospective clients all contacted SeeChange. The company will soon be ready to start selling. “We want to hit the market hard and fast so no one sees us coming and we think we can gain a lot of market share very quickly.”
Operating under a licensing agreement with the University of Prince Edward Island, Fieldetect is developing a hand-held device that will allow farmers to detect disease in their herds fast enough to prevent a large outbreak.
President and Co-Founder Andrew Trivett said the company is beginning with hog farmers, who now have to take samples from their herds and send them to a lab to be tested. In the day or two it takes to get the results back, a disease could spread, possibly leading to a cull of the entire herd.
“What if we could take that test and have the farmer do it themselves, have it take less than an hour and get the result immediately?” asked Trivett.
Fieldetect has developed LabAnywhere, a handheld device that will test a sample from the animal and give farmers the results on their smartphones in about 40 minutes. The team expects to begin shipping the product in late 2020 and sell about 500 units in the subsequent 12 months.