The world is on the verge of a biochemical revolution. The overall market for chemicals has expanded from $2 Trillion to $3 Trillion in the just past five years, but the fastest growing segment of the chemicals industrial has been the biochemicals market. Biochemicals are made from renewable materials as opposed to petroleum and can be biodegradable. By 2050 50% of the multi-trillion dollar chemicals market will be biochemicals.
Tethis has developed a way to take simple carbohydrates and make high-value products. Tethis has a patented platform for the creation of these high-value chemicals using a common manufacturing process that is high throughput, low cost, and prevalent domestically and abroad.
Tethis began in 2013 as a spinout of novel technology discovered at NC State University aimed at the water treatment market. Tethis has gone on to discover, advance, and patent new and innovative ways to transform plant-derived feedstocks into performance polymers that are used in a wide range of applications and industries.
The global synthetic superabsorbent polymers (SAPs) market is $8B and consists of petrochemical-based, not green, materials that are tied to the unstable oil market. Innovation occurs slowly and capacity and feature planning that take years and hundreds of millions of dollars. With ever increasing demand for greener more innovative products made with natural/sustainable feedstocks, Tethis's SAPs represent a profound advance in this market.
Tethex SAP is a cornstarch-based SAP with similar performance/ economics to traditional acrylamide-based SAPs manufactured using green materials with green processes. Tethex SAP has superior performance in highly ionic fluids such as seawater, hard water, divalents, oil, and blood. Tethis can control the form factor and other features including coating substrates with liquid SAP. Our flexible manufacturing platform has a very low cap-ex and op-ex and can be located close to the customer and scaled to meet any demand. Our tunable chemical parameters also allow us to create bespoke absorbents tailored to the desired performance requirements (gel strength, speed, capacity, etc.).
To make world changing superabsorbents economically, Tethis has also gone through a process of backward integration to develop an additional platform of charge modified starches - anionic, cationic, and amphoteric. These too can be tailored with respect to charge, charge density, solubility, viscosity, and molecular weight. The starch industry is an $11B market and we believe our manufacturing process provides us with sustainable competitive advantages to traditional starch modification techniques that will enable Tethis to become a significant player in this space.
Scott Bolin, CEO, MBA - While earning his MBA at NCSU, Scott worked with a number of startups in the Triangle area while also serving a Fellow with the Blackstone Entrepreneur Network. In conjunction with PhD students Ryan Chan and Moataz Moussa, Bolin launched Tethis in June of 2012 following a year of development as a project in NC State’s ground-breaking Commercialization course. Bolin also holds an undergraduate degree from The College of William and Mary.
Chris Evans, Executive Chairman - Chris is an entrepreneur and philanthropist with offices in Raleigh, North Carolina. Evans served as CEO and founder of Accipiter, a leading provider of ad management solutions purchased by CMGI, Inc., and fully merged with Engage in 1998, and member of the Board of Directors for Engage (NASD: ENGA) a majority owned subsidiary of CMGI and provider of profile driven Internet marketing solutions from 1999 until 2001. In 1992, Evans founded Hotlinx, a publisher of print and online buyer's guides for software professionals, which was sold to a group of private investors in 1997. From 1985 through 1992, Evans served as the executive Vice President of DaVinci Systems, a company he co-founded.
Evans currently serves on the board of directors of, Community in Schools of Wake County, NC State Engineering Department's Entrepreneurs Advisory Board, and The Entrepreneurs Philanthropic Venture Fund. He also serves as an advisor to several businesses and not-for-profit enterprises in the US and Europe. Evans is also the author of Fruit at Work – Mixing Christian Virtues with Business published in 2Q 2012 by Lanphier Press.
Evans many accolades include the 1999 Ernst & Young "Master Entrepreneur" award; Business Leader Magazine's "Entrepreneur of the Year" in 1998, the 1998 North Carolina Council for Entrepreneurial Development "Entrepreneurial Excellence Award", and was named one of Advertising Age's Digital Media Masters.
Jim Bray, Ph.D. Chem. E., MBA - Jim has 40 years of industrial experience with 30 years in the Separations industry, including water purification. Jim’s has worked in large and small companies plus start-up environments and he has served previously on the Scientific Advisory Board, Board of Directors and as CEO of several companies. His line management experience includes product and process development, customer application testing and manufacturing. Dr. Bray earned his BS in Chemical Engineering from NC State, a ScD in Chemical Engineering from MIT and an MBA from UConn.
Tyler Tibbits, VP Sales & Marketing, MBA - Tyler is a startup executive with more than 28 years’ experience in sales and marketing, product management, and operations. He also has extensive experience launching new products and starting companies. Tyler grew up in and around the upstream oil and gas exploration and production business in Oklahoma and Texas and has a B.S. in Geology from the University of Oklahoma. He holds an MBA from UNC’s Kenan Flagler School of Business and has co-founded five companies.