SioTeX® won the $10,000 Grand Prize at the 2014 American Chemical Society (ACS)
Green Chemistry Institute (GCI) Business Plan Competition. The competition
took place at the 18th Annual Green Chemistry & Engineering Conference in
Bethesda, Maryland, on 18 June. This business plan competition was
dedicated to green chemistry and engineering and focused on sustainability-oriented
entrepreneurship. The teams received scores on their business plans and
presentations in addition to a score for social media. ACS GCI created a crowd
funding opportunity were converted to votes. The site raised $3,105 in funds. SioTeX received over $2,300 in donations, accounting for approximately 75% of the total
votes for the social media component.
The SioTeX team also recently competed at the 14th Annual Rice Business Plan Competition (RBPC), where they won the Texas HALO Fund Investment Prize, first place in the Challenge Round Flight, and was runner-up for the Center for the Advancement of Science in Space (CASIS) International Space Station (ISS) National Lab Space Flight Prize. Additionally, the team was acknowledged as the most engaged in social media activity during the RBPC competition.
SioTeX will produce and distribute Eco-Sil, an environmentally friendly triple green alternative
to fumed silica. Eco-Sil is manufactured from rice hulls, a renewable resource. Target markets
include paints, plastics, and tires. Fumed silica sales currently account for $1.5 billion
in annual sales.
SioTeX was formed in December 2013 and is built around commercializing a technology developed by Dr. Haoran Chen in the Materials Science, Engineering, and Commercialization (MSEC) PhD Program at Texas State University. Dr. Chen formed the team which includes Marcus Goss, COO, Ash Kotwal, VP of Manufacturing, and Lisa Taylor, VP of Sales & Marketing. The team is led by George Steinke, CEO, an experienced entrepreneur and strategic manager. SioTeX is also supported by its board of directors, including Dr. Gary Beall (holder of 48 patents), and Jamie Rhodes (an accredited investor and entrepreneur). For more information, please contact George Steinke at 830 660 1411 or via email at firstname.lastname@example.org
Team members presented in Houston to the Houston Angel Network (HAN). The presentation was well received, and the team made many new connections while generating strong investor interest. David Steakley of the Texas HALO Fund gave a great introduction for SioTeX. Rob Tucci, Ross Crawford, Victor Elgohary, and Andrew Clark were in attendance and very supportive. Marcus Goss spoke with representatives of CASIS. Marcus reported that Ed Harris invited SioTeX to meet with him and his team over lunch to assist with the development of ideas for experimentation of Eco-Sil on the ISS.
Marcus also talked with Ken Leseur, HAN member and former CEO of Halliburton Energy Services, who
had some great questions and good insights. The stopped by OVS Group, to thank Larry Denver, President,
for his team donation to ACS and votes for SioTeX. Mr. Denver and Marcus had a detailed technical
conversation about Eco-Sil as well as rubber composite materials used in the oil and gas industry.
Additionally, Mr. Denver communicated the SioTeX information to other investors. George also spoke with
Jose Alvarez, OVS Chairman and serial entrepreneur, about sharing the opportunity with even more investors.
The presentation at HAN provided incredible exposure and was an exciting experience.
We greatly appreciate your support. Special thanks go out to everyone that donated and voted for SioTeX on GoFundMe.com to help us win the ACS GCI Business Plan Competition.
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