A Minneapolis startup finds new advisors


Minneapolis Biomass ExchangeLocal software startup Minneapolis Biomass Exchange (MBioEx), which has developed a proprietary online exchange for biomass feedstocks, recently announced the addition of two new advisory board members — Luca Zullo and David Kurzman.

Luca ZulloLuca Zullo is the founder of VerdeNero LLC, a biomass and biofuels consulting firm.  He formerly was Project Lead at Cargill Environmental Finance, developing second generation biofuels and bio-energy projects, especially “waste” to energy projects.  Luca has also worked at Cray Research in the US and Shell Research in The Netherlands.

“The creation of a trading platform like the Minneapolis Biomass Exchange tackles complexity head on by providing sellers and buyers a forum for direct contact that maximizes market efficiency,” said Zullo.

David KurzmanDavid Kurzman is Co-Portfolio Manager for the Leuthold Global Clean Technology Fund. Prior to joining the Leuthold team, David was Managing Partner of Kurzman CleanTech Research, a private research and investment firm which managed a pool of private capital for high-net worth investors.  Prior to that, David worked for Panel Intelligence, LLC, Needham & Co., H.C. Wainwright & Co., Value Line Inc. and the Weitz Funds.

“I invest in great managers, and Kevin Triemstra’s vision of the biomass market is a step ahead of the marketplace. He sees not the opaque biomass marketplace we suffer through today, but the efficient forum for transactions that it will become in the future,” said Kurzman.

MBioEX is estimated to have raised between $50-$100k in seed capital since July 2009 inception and is pursuing “a patient go to market approach,” according to CEO Kevin Triemstra. The business received early validation when Doug Cameron and Rajesh Aggarwal joined the board of directors in August, 2010.

“Luca and David are tremendous additions to the MBioEX team.  In just a short time, Luca’s biomass-to-energy and logistics knowledge and David’s cleantech and transactional system knowledge have been invaluable to our team.  Both are enthusiastic about the company’s prospects and we’re thrilled to have them on board,” Triemstra said of the milestone.