December WIA Board Meeting Minutes

*Not Yet Approved*

Meeting Minutes

December 14, 2018

PUBLIC BOARD MEETING

7:00 a.m.

  • Roll-call, Establish Quorum
    • Board Members: Mark Stege, Don Collins, Ken Miller, and Mike Easley
    • WIA Staff: Jason Begger, Jami Blosmo, Briana Long
  • Approve Agenda
    • Ken Moves
    • Don Seconds
    • Agenda Approved
  • Approve Minutes
    • Ken Moves
    • Don Seconds
    • Minutes Approve
  • Approve Financial Report
    • Audit journal entries have been reconciled by MHP
    • Jami – should legal fees sent out close to board meeting be posted on the month of accrual?
      • Potentially changes the monthly financial report.
      •  Mark – should be posted to reflect the month they accrue
    • Don Moves
    • Mike Seconds
    • Financial Reports Approved
  • Audit Report – Brandy Marrou, MHP
    • Review 2018 WIA Audit Committee Letter – letter to the board reviewing highlights of the audit report
    • Highlight entries of the WIA Financial and Compliance Report
      • No instances of noncompliance
    • Don Moves
    • Ken Seconds
    • Audit Report Approved
  • Old Business
    • Matt Lucas, CarbonTech Labs Update
    • Organizational update
      • Re-branded to Carbon 180 to appeal to a larger group for fundraising
      • Opened Washington D.C. Office
      • Following the USE IT Carbon Capture Act closely
        • Legislation sponsored by Senator Barrasso
      • Reviewed global and U.S. available markets for carbontech
        • Building materials
        • Wood-based panels
        • Chemicals
        • Fuels
        • Plastics
        • Agriculture and biobased products
      • Carbon Recycling Labs re-branded to Carbontech Labs
        • 1 trillion dollar carbon-tech market
    • Mark – what, in the last 14 months since WIA signed the MOU with Carbon Recycling Labs, have you learned?
      • The spike in interest after XPRIZE announced their finalists didn’t occur as expected
      • Fundraising not as easy as originally expected, they had to turn to other state governments, the federal government and private funding rather than foundations.
    • Mark – What are you hoping your future 12 months from now will look like?
      • Hope to solve the chicken-and-egg situation- need proof in technologies to get funding, need funding to provide data for proof.
      • Hope to find a lead investor for project startup. Raise $500,000 and start a 6-8 person cohort to provide more proof in carbon tech to attract more investors.
      • Still ambitious in bringing teams to the ITC, but likely won’t begin filling test bays after XPRIZE is completed as originally hoped, they may need a few more years.
    • 2019 Spring Conference
      • March 27-29
      • Conference in Jackson, location still TBD
    • Energy Authority and Legislative Update
      •  Tabled to next meeting
  • Public Comment Opportunity
    • No members of the public present
  • Adjournment
    • Adjourned