Energy-Arizona is a resource for valuable news and information about some of Arizona's premier companies powering innovation in the Energy Industry.http://www.azcentral.com/business/articles/1104biz-bizaz-diversified1104.html
Ryan Randazzo
The Arizona Republic
Nov. 4, 2007 12:00 AM
Sometimes good ideas need a little boost before they become groundbreaking enterprises. That's where Diversified Energy Corp. of Gilbert hopes to come in.
The startup forms partnerships with alternative-energy researchers and provides financing and engineering know-how to bring ideas to commercialization.
It has three technologies in the pipeline:
- HydroMax is a gasification project that turns carbon sources, such as coal, biomass and even tires, into hydrogen and carbon-monoxide gas for fuel.
- Centia is a process developed with North Carolina State University that can turn fats into fuel.
- Simgae is a partnership with Phoenix-based XL Renewables Inc. to develop an inexpensive way to grow algae for ethanol, biodiesel and animal feed.
Diversified Energy hasn't commercialized the technologies yet. Instead, it earns revenue by using its three full-time engineers and part-time consultants for advising, says Jeff Hassannia, vice president of business development.
The company is the beneficiary of founder Dave Thompson's successful career in aerospace technology. Thompson founded Diversified Energy in September 2005 using proceeds from the sale of his company, Spectrum Astro, to General Dynamics Corp..
He also invests in technology through Thompson Industries, his venture-capital firm.
"We are focused on alternative and renewable energy exclusively," Hassannia says. "We have identified some areas where we think the world needs some solutions."