Firepoint Energy

Firepoint Energy has the potential to save America.

How? Let’s start with a major problem facing the country.

Right now, there’s a shortage of mineral resources like lithium — essential for batteries used in everything from electric vehicles (EVs) to smartphones — and rare earth elements (REEs) that are critical for national defense.

At the same time, the U.S. aviation industry is trying to transition to renewable fuel sources. But this transition has been hindered by shortages of these fuels, and a lack of consistency and reliability in their production.

This is where Firepoint Energy can make an impact. It’s created a two-fold solution that solves both of the issues at-hand.

Essentially, this energy startup uses plasma technology (more on this in a moment) to convert coal waste and wastewater into valuable resources like synthetic fuels, rare-earth minerals, and clean energy.

This is a significant opportunity for Firepoint. According to the U.S. Geological Survey, eighty-eight million tons of lithium reserves have been detected worldwide, yet only twenty-two million tons are viable to mine. In 2022, 113,000 tons of viable lithium was produced. Yet by 2030, global demand is expected to reach 450,000 tons annually.

Last year, lithium was a twenty-six-billion-dollar global market. By 2032, it’s projected to be worth $134 billion, according to Fortune Business Insights.

Meanwhile, the market for sustainable aviation fuel (SAF) is growing. U.S. aviation companies burn sixty-nine million gallons of fuel a day. In 2024, only fifty-two million gallons of SAF were produced and imported for the entire year. By 2030, annual U.S. SAF production must increase by sixty times to meet federal goals.

Finally, the market for REEs will surpass eight billion dollars by 2032. The Asia-Pacific region dominates with eighty-six percent of global production. China, specifically, is a leader in production, meaning the ability for the U.S. to establish its own production is critical for national security and modern technologies. REE applications include jets, electronics, EVs, and defense-critical devices.

By capitalizing on modern technologies, Firepoint Energy isolates and extracts the valuable mineral resources already present in waste coal, while capturing any of the coal’s remaining fuel content in a synthetic gas form and converting it into SAF.

Firepoint’s main technology is what’s known as plasma gasification. This involves using high temperatures generated by a plasma torch to break down waste materials into a combustible gas called “syngas” by vaporizing organic components, leaving behind a solid residue.

Additionally, the company processes natural gas-bring water to extract materials like lithium and salt. Notably, Pennsylvania wastewater alone can potentially supply up to forty percent of U.S. lithium demand. Processing nine million gallons of wastewater from just seven Pennsylvania counties can yield five tons of lithium a year.

Firepoint generates revenue through two sources: mineral sales and tipping fees (fees paid by those who dispose of waste in a landfill). The company charges well owners $4.20 per barrel in tipping fees. Revenue projections from tipping fees to reach $500,000 per month by fall 2026.

Additionally, revenue projections from the sale of SAF can reach $3.7 million from a four-million-ton pile of waste coal. Potential annual revenue for SAF could reach $125 million.

Firepoint has begun construction on a fifty-ton-per-day plasma gasifier in Freeport, Texas. This gasifier will soon be deployed for use in Virginia. The plan is to build eight gasifiers to process waste coal and extract REEs.

Team Background

Bill Smith - Chairman & CEO

Bill has founded several companies and taken more than one of them public.

Prior to starting Firepoint Energy, he was Director of Technology Development with Reformed Energy, a business that focused on creating a plasma gasifier to convert landfill waste into energy. Prior to that, he held the same position with Xcelplus International, a similar energy company.

For twenty-one years, he was CEO of GDI International, a business-development company that invested in projects ranging from TVs to animation projects.

Shelly Befumo - President & COO

Shelly has two decades of experience with capital-finance transactions and IPO preparation.

She began her career as an accounting manager with Belmont Partners, a securities firm. She then was a partner at Befumo & Schaeffer, a D.C.-based consulting business.

For nearly seven years, she worked for World Tree, an environmental-services company, serving as a contractor and later Director of Finance and Compliance.

Shelly earned a Bachelor’s degree in Accounting from Strayer University and an MBA from William & Mary.

Dale Rasmussen - Board Member

Dale has three decades of experience in the clean-tech, alternative energy, and banking sectors. He has co-founded three companies that reached $500 million in market capitalization.

Bob Beatty Jr. - Board Member

Bob has spent two decades in the natural-gas industry. In addition to his role with Firepoint, he holds a leadership position with Pittsburgh Region Clean Cities. He’s also a board member for the Pennsylvania Independent Oil and Gas Association.

Co-Investors