Good energies: Firm that reinvented the engine starts new funding round
MayMaan has developed an internal combustion engine operating on a mixture of water and ethanol. They are in the 1st phase of sparking a revolution in the automotive and green energy markets.
By LIOR NOVIKMayMaan generator.(photo credit: Courtesy)
The green energy market is in an unprecedented momentum, and not by chance. After catastrophic years in terms of diseases and natural disasters, the understanding has finally taken hold that humanity must change course. The change of government in the United States provides a boost. It is now essential to find an effective way to convert polluting fuels, which emit carbon dioxide and other substances into the atmosphere, into renewable energy sources.
The internal combustion engine that MayMaan (www.maymaan.com) has developed runs on a mixture of 70% water and 30% ethanol or methanol - a cheap and common alcohol substance. According to the company, it is a clean fuel with near zero emissions of toxic substances such as sulfur and NOx, and about half the amount of CO2. It has a much higher efficiency and much lower operating costs compared to today's engines. In addition to being environmentally friendly and economically viable, and unlike other renewable energies that are dependent on sun or wind, MayMaan’s solution and energy it provides is available at any time 24/7.
In the initial phase, the company chose to focus on developing power generators capable of operating based on their unique engine and fuel mix. Gradually the size of the engines was increased so that they could propel larger and larger platforms, and eventually trains and cargo ships. After developing the first series of prototypes and registering numerous international patents, the company is embarking on a round of fundraising and is already planning its first initial public offering (IPO).
Behind the innovative company is an Israeli family living in Miami. The father of the family, Yehuda Shmueli, invented the revolutionary engine and the Aquastroke combustion cycle. The Nakash brothers have partnered with the Shmuelis on this project. Known for making successful investments and Zionistic projects, they were happy to promote green energy.MayMaan generator industrial prototype.On the advisory board, you can find personalities such as Maj.-Gen. (ret.) Yedidya Yaari, Naval Commander and former CEO of Rafael; Malcolm Hoenlein, current executive vice chairman of the Conference of Presidents of Major American Jewish Organizations; and Avi Shekel, who has served key roles in the investment and banking worlds. These major players are supported by strategic advisors from the automotive and business development worlds. These include Simon Boag, past vice president of manufacturing for Chrysler and General Motors, and Alon Ozer, manager of hundreds of millions of dollars for nonprofits and private investors.
The business model is built on collaborations with large companies around the world - generator, engines and energy companies. MayMaan will license and provide them with its unique patented technology so that they can convert or manufacture the engines based on their infrastructure.Advertisement
"The ability to embed the technology in existing infrastructure is one of the biggest advantages that make the product scalable," says the company's CEO Eitan Shmueli.
His brother Doron, the president of MayMaan, says, "The piston engine has been around for 150 years and there are many factories that manufacture it, so there is no need to set up new factories to meet the demand. The solution is both practical and immediate and will not take decades to implement like other technologies."
Hundreds of billions of dollars potential
With the rise of global warming awareness, the issue of environmental pollution has become an international issue. In many countries, the regulator imposes energy restrictions such as a requirement to reduce the amount of sulfur released into the air from cargo ships. There can also be massive demand charges from electricity companies for over-consumption during peak hours. All of these make developments of the kind that MayMaan offers especially desirable among those engaged in the field.
"MayMaan green energy not only reduces costs, it also helps the environment. Many countries now have laws that necessitate the use of green energy,” says Eitan."The market is exploding right now and the whole world is investing in cleantech. The monetary value of those companies is skyrocketing and some of them are traded on the stock exchange for tens of billions of dollars. The business potential is enormous."An investigation conducted for MayMaan by an external company to assess the size of the market discovered a wealth of economic opportunities in the United States, Eastern Europe and Asia. The market value of the generator industry is in the tens of billions of dollars. This does not include the other application that the technology offers. The company estimates that after the IPO, the value of MayMaan will skyrocket.
The technology can be applied to cars, trucks, buses, farming, backup power for communications equipment, heavy agricultural equipment, military vehicles, locomotives and cargo ships.Another benefit of the technology is integration in charging electric vehicles: "A large number of batteries is needed for the distance that trucks have to cover," Eitan explains, "but we can put a small generator on them that will charge them while driving. Unlike a diesel generator, we have a clean solution to extend the range."MayMaan product lineup.Doron says that one of the main challenges for electric vehicles, among other things, is that it is complicated to set up mass charging stations. "It's too expensive and needs to be connected to the power grid. It’s not simple. Even in the United States there are occasional blackouts and our generators can be used to charge these stations using environmentally friendly energy".
Another example is Nigeria where most of the country is powered by generators. "There are companies that run a generator for 16 hours a day with polluting fuel, which is sometimes even stolen for other purposes. Our goal is to gain a market presence with all the engine applications as soon as possible. We chose to start with generators but there are no limit to the different applications and uses."Unlike other technologies that will take many years to reduce carbon emissions, the fast implementation of MayMaan’s fuel, system and products will have an immediate effect.
To move forward, the company now needs investors and strategic partnerships. "We do not have a requirement to invest in new infrastructure and a production line. We can set off on top of the existing infrastructure of thousands of engine manufacturers around the world."We are not limited in any way, and the scale-up of the technology is proven," the Shmueli brothers summarize. “We started with a simple one piston engine, moved to four, then to eight cylinders, and we have no problem getting to 16 for trains and cargo ships, as well. We have reinvented the engine with a green and clean, fast and efficient solution that will drastically help reduce pollution and global warming and bring in revenue for investors while promoting a sustainable future for everyone on this planet."
