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|Articles - October 2011|
|Thursday, September 22, 2011|
Page 1 of 3By Ben Jacklet
One night several years ago, Chris Ulum was driving to the Oregon Coast with his 10-year-old daughter when she asked him to explain the project that had been keeping him so busy on evenings and weekends. “So I finally explained it to her,” he says, “and at 10 years old she completely grasped the business opportunity and the value proposition. You don’t have to convince anyone of our dependency on fossil crude oil and the merits of having a drop-in replacement for fossil crude. And if you can get that from a garbage stream that’s already being picked up and handled by someone, then it’s not hard to sell the supply demand aspect of the proposition. It just makes intuitive sense.”
By that point, Ulum’s business partner, chemist Kevin DeWhitt, had figured out the technical challenges involved in converting waste plastic to crude synthetic oil. But before DeWhitt could scale the concept to produce significant amounts of oil, he needed money, and to get money he needed a business plan. That was Ulum’s job: to turn a great idea with solid science behind it into a great business.
Ulum, a 48-year-old graduate of Oregon State University with an MBA from Duke University, met DeWhitt through a colleague at Sun Microsystems in November 2004. Their weekend and evening meetings grew more common throughout 2005 and ultimately convinced Ulum to take the plunge and leave his job to launch a startup. They originally called the business Plas2Fuel, and have since renamed it Agilyx (pronounced “Agile-ix”). Recession notwithstanding, they have raised more than $26 million and formed partnerships with key players in the oil and waste industries while building a 35-person company poised to grow into a market leader.
The first step was to prove that their system worked. They accomplished that fairly quickly, raising $300,000 in seed capital in April 2006, building a prototype system at an industrial property in Tigard and extracting their first batch of crude oil from waste plastic several months later. That quick success enabled them to raise more money on better terms.
Thursday, May 29, 2014
I was in a rut. A few months ago, I was at my desk trying to come up with cover story ideas for our June “green” issue. But I was stuck on a concept that is a bit too tried and true in the magazine business.
Tuesday, May 27, 2014
Oregon is known for its green-minded citizens, and many workers are attracted to firms and organizations that practice green, not just pay lip service to it.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex fast changing business environment.
Update: We checked in with Portland's Thomas Thurston, who offers his data driven take on the disruption controversy.
Thursday, May 29, 2014
BY SOPHIA BENNETT
Tillamook expands its tourism niche.
Monday, July 14, 2014
BY VIVIAN MCINERNY | OB BLOGGER
Some people think Amazon’s winking eye logo is starting to look like a hoodwink.
Friday, May 30, 2014
Watch the 2014 100 Best Green Companies keynote speech by Eric Friedenwald-Fishman.
Thursday, May 29, 2014
BY JONATHAN FROCHTZWAJG
For Far West Fibers, one of Oregon's largest and oldest mixed-recycling companies, garbage alchemy has long been big business.
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