Dave Garten, CEO SeQuential Biofuels

May 8, 2007

Dave Garten, CEO of SeQuential Biofuels spoke at the Oregon Entrepreneur’s Network Pubtalk. Here are a few notes from his presentation.

SeQuential’s goal is to create a retail consumer brand. In 50 years, the industry hasn’t changed (e.g., Chevron and traditional oil companies are the main brands). There is an opportunity to create a new brand in this space. Other examples of new brands in old industries are Whole Foods and Starbucks.

Retail station opened in January and sales are up 70% since then. Customers travel further and pay more. Customer buy “because it makes them feel good.” “Sure there are lots of hippies, but we get rednecks too.” [Good laugh from crowd.]

Closing on a bridge round now. Working on a Series A round to build more stations.

There are fuels there for any car (e.g., Ethanol blends for gas engine cars).

Joint Venture for supply of biofuel. Capacity is one million gallons per year. Raw materials are mainly local.

Company was founded in 2002 and there are 30+ locations to buy fuel. Dave came in as CEO last year. The key success factor is talent. Need professional management, biofuels expertise and retail expertise.

Cooperation from the state and local governments have been great. The “achilles heel” is permitting.

Would like to see government be a large customer and to help educate the public on the benefits of biofuels.

Primary competition is Shell and BP. There are some small niche players, but nothing on the scale of SeQuential.

When gas prices drop, percent of biofuel is decreased, and vice versa. Able to manage supply chain issues in this way.

Personally wants to buy a biodiesel-hybrid when made.

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