The Creve Coeur, Mo., company's aim is to develop a cheap, long-lasting and environmentally friendly power source for gadgets ranging from laptop computers to military devices. Its success so far is attracting investors, who this week added $3.5 million in venture capital to the nearly $3 million Akermin raised in 2005.
"It still needs to be proven in the market, but all indications are that this technology could be a breakthrough," said Barry Blackwell, a member of the St. Louis Arch Angels investor network who sits on Akermin's board of directors.
Fuel cell technology -- using a chemical reaction to generate energy -- is nothing new. But Akermin's approach has a twist: It uses a living enzyme, rather than a metal such as platinum, to break down alcohol and create the chemical reaction.
Enzymes are cheap and plentiful, unlike platinum. But they typically degrade rapidly -- other attempts at using them in fuel cells resulted in a power source that only lasted for a few hours or days, making them impractical.
Akermin, however, has developed a polymer membrane that is used to contain the enzymes and prevent them from breaking down.
The result is a lab-scale fuel cell that has continuously generated power for more than two years and is still running, said Nick Akers, Akermin's president and co-founder.
It requires the alcohol supply to be continuously renewed.
The company has demonstrated other breakthroughs, he said:
--The enzymes are able to completely break down the alcohol, increasing efficiency and providing a longer run time from a given volume of fuel than other types of fuel cells. A pen-cap full of alcohol lasts about 30 days, said co-founder Shelley Minteer, a chemistry professor at St. Louis University, in a radio interview last year.
--It has engineered a commercial prototype that stacks several tiny fuel cells into a device like a battery pack that is rugged and about the size of a cell phone.
So far, the prototype is just approaching the amount of power generation sufficient to fuel a cell phone. Creating a device that could run a laptop computer is years away, Akers said.
The eventual goal is creating a small, powerful array of fuel cells that last a long time and can be instantly "recharged" by replacing a small, portable and non-toxic alcohol cartridge. Corn-based ethanol is a likely source of fuel because there is a ready supply, but the cells have been shown to run on vodka, gin and even flat beer.
In testing so far, Akermin's technology can provide four times the run time of a conventional battery, weighs less and can withstand temperatures up to 140 degrees Celsius, Akers said. Because it is more efficient than other types of fuel cells, it generates less heat.
"We have a sophisticated prototype that shows our technology in a nicely packaged fashion and shows its usefulness. ... It's along the path toward commercialization," Akers said.
Graeme Thomas, Akermin's chief executive, said the fuel cells are likely to be used first in wireless and military devices.
In the meantime, Akermin also sees potential to sell its enzyme technology to industry. Enzymes are used in a variety of manufacturing processes that require high temperatures and harsh chemicals, which Akermin's approach could make more efficient.
"That's of strong interest to us because it's a large, existing market," Akers said.
Blackwell said that if all goes well, Akermin's fuel cells could reach the market in two to three years. That potential has attracted investments from more than 20 of the Arch Angels, a consortium of wealthy individuals who provide early-stage funding for entrepreneurs.
The group participated in both rounds of Akermin's funding, to the tune of nearly $2 million.
"We'll see where this takes us," Blackwell said. "It's still early-stage, as all of our deals are. We think it has a lot of potential."
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(c) 2007, St. Louis Post-Dispatch. Distributed by McClatchy-Tribune Information Services via Newcom.
