Entropy Solutions, Inc.
October 22, 2012 Issue
The Most Powerful Name In Corporate News and Information
An Industry Leader in Bio-Based Specialty Chemicals derived from Agricultural Based Feed Stocks focused on Thermal Energy Storage and Thermal Energy Transfer, Entropy Solutions, Inc. is on the cusp of Significant Revenue and Profit Growth derived from Existing and Next Generation Technologies
About Entropy Solutions, Inc.
Eric holds a Bachelor of Science degree from the Kelly School of Business at Indiana University, and completed coursework at the St. Gallen School of Business in St. Gallen, Switzerland.
Plymouth MN 55441
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – October 22, 2012
Mr. Lindquist: Entropy Solutions is a bio specialty chemical company which focuses on thermal energy storage and thermal energy transfer. We have a variety of bio-based technologies all which are derived from agricultural based feed stocks. Those technologies range from thermal energy storage materials, such as phase change materials, to transfer fluids such as propylene glycol.
CEOCFO: What are the main products or services?
Mr. Lindquist: It is a wide range. Our technology is used in a variety of products ranging from building of construction materials to medical devices, to food and beverage packaging, to transportation and textiles - things that are all temperature sensitive or require some sort of thermal management.
CEOCFO: Have you developed the products, manufactured, or both?
Mr. Lindquist: We develop and manufacture the technology which becomes a component of many consumer and commercial end products. Entropy does not manufacture the products ourselves. We are the Intel inside, so in other words, we enhance the performance of various consumer and commercial products. For example, we supply our PureTemp technology to companies who integrate it into refrigerators, so those refrigerators are much more energy efficient. By integrating our technology, those refrigerators compressors run less often, translating into less energy usage. Additionally, should there be an energy loss or blackout, our technology acts as a thermal battery back up system, ensuring the contents within the refrigerator remain at their prescribed temperature. We do not make the refrigerators, we improve their performance and that is pretty much the case with all the products our technology is implemented in.
CEOCFO: What are you physically providing?
Mr. Lindquist: Our main technology is a phase change material. These are materials that leverage energy storage capacity as they transition from solid to liquid or liquid to solid at specific temperatures. Take water for example, water changes phase at 32 degrees Fahrenheit or zero degrees Celsius. When things are at their phase change temperature, their energy storage capacity is fifty to eight times that of it at any other temperature. Water at 33 degrees Fahrenheit has an energy capacity of 4 joules per gram, think of joules in terms of horsepower. Water at 32, has 333 joules per gram. Our material is not water however behaves just like water but at 250 different temperature options. To put this in context, think of a ski jacket. If you snow ski you understand how much heat your body generates going down the hill. In normal jackets, manufactures use technologies to try to dissipate that heat. Our PureTemp technology, when imbedded in the jacket, pulls that heat away from your body, stores that heat and then releases that heat back to you when you require it on the ski lift. In building applications, PureTemp is integrated into ceiling tiles, carpet, paints or wall boards. A PureTemp is used with a transition at room temperature, say 72 degrees Fahrenheit. During the course of the day anytime the ambient temperature goes above 72 degrees Fahrenheit, heat is stored, anytime the ambient temperature drops below 72, heat is released or given back. The technology is constantly capturing, storing or releasing thermal energy.
CEOCFO: Is it a piece of equipment?
Mr. Lindquist: To the average person it would look like vegetable oil you might find at your local grocery store. Depending upon the transition temperature of the specific PureTemp material you are looking at, it would be a liquid or a solid. We have 250+ different formulations which allows us to addresses very specific customer requirements. The end product which PureTemp is integrated in may be a piece of equipment (i.e. refrigerator), however the material itself is not.
CEOCFO: Are you providing these to OEMS?
Mr. Lindquist: That is correct. We are working with leading manufactures in industries ranging from automotive to medical.
CEOCFO: Are there other companies able provide a similar product?
Mr. Lindquist: There are other types of phase change materials. Water obviously is a phase change material but has its limitations. There are other phase change materials, created from petroleum or paraffin. They are limited in the number of temperature options that they can provide and they have some characteristics that are not favorable, such as cost. We make ours from agricultural products and they are 100% biodegradable. We are able to achieve many more temperature options. We can literally dial in any specific temperature based on the way the technology works. They tend to be more cost-effective.
Are the industries and manufacturers aware or are they still learning about
CEOCFO: With the variety of industries that can and do use what you are able to make, how do you focus?
Mr. Lindquist: It is a challenge today for sure, and as more people understand what the technology is capable of, it will become increasingly more difficult. When you think of what is impacted by temperature over the course of a 24-hour day (the sheets you sleep in, the water that you shower with, the car you drive, the clothes you wear, the building you work in, etc), you quickly realize that this technology has application potential in almost everything. There is an awareness that is starting to take hold in certain industries such as building construction, refrigeration, medical, as well as shipping and transportation, which are areas of focus for us.
CEOCFO: How do you reach potential customers?
Mr. Lindquist: We reach them by the benefit of having conversations like we are having right now and through media telling the story, as well as attending tradeshows and conferences. We partner with quite a few academic institutions who conduct research, publish white papers and work with Fortune 100 companies on next generation products. We take a multi-prong approach which includes a commercial and academic strategies.
CEOCFO: Is one more important?
Mr. Lindquist: They each play a different role. Ultimately it is the commercial side which will have the greatest impact on the products which are sold and benefit the consumer, however many of those projects begin at academic or research institutions. Each play a very important role in our end game.
How is business?
Does Entropy Solutions have adequate funding to move ahead?
CEOCFO: Our readers are primarily in the business and investment community, many people looking for new ideas, new ideas for their companies, better products. Why should people pay attention to Entropy Solutions?
If those individuals are looking for solutions to enhance efforts on the
manufacturing side or in the product performance side, our technology should
be of string consideration. Our technology integrated into their product can
dramatically enhance its performance or potentially solve a problem that
they are dealing with. It also opens up the opportunity to exploit ideas
that have been handcuffed or limited in the past by the inability to deal
with either a thermal issue or some kind of manufacturing issue.
Additionally, the next generation technologies that are currently being
worked on in our labs have the ability to make far greater impacts than even
what we offer today. Entropy is a company that is on the cusp of significant
revenue & profit growth derived from existing and next generation
Entropy is a company that is on the cusp of significant revenue & profit growth derived from existing and next generation technologies. - Eric Lindquist
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