Based on our estimates of market size, the Total Addressible Market is over $162 billion per annum. The serviceable market within North America is $72 billion. Finally, the serviceable and obtainable market in NA are those engines that could capture CO2 and monetize it profitably at today's CO2 market prices.
OCCAM’s projects that its technology is profitable for natural-gas-fired diesel engines. This implies a serviceable addressable market of CAD 400 million worth of gross margins per annum in North America alone. We can already provide value to our customers.
Our ability to address this market is contingent on proving our technology and reducing our costs to manufacture these systems. As we continue to improve our offerings, and increase our user's profitability, we will unlock larger potential shares of the total.
The current fleet of internal combustion engines will emit 17 gigatons of carbon dioxide before it is retired from operation (based on estimates that the total fleet emits 1 gigaton per annum and their expected lifetimes). These emissions come from mobile engines, locomotives, and marine vessels. Occam's is proposing to capture those emissions!
We aim to capture at least 90% of the emissions of our clients' diesel engines using our DOCC technology. This will result in millions of tons of avoided emissions annually, perhaps even hundreds of millions if we achieve a large market share.
OCCAM’s has already raised over CAD 350,000. We are using this money to fund our ongoing R&D efforts, find new business development options and product lines, create relationships with new and existing customers, and unlock further sources of non-dilutive funding from the Canadian government.
OCCAM’s will receive over CAD 2 million in non-dilutive funding on our current trajectory. This money will come in the form of government grants and reimbursements for money spent on research. Our team will continue to apply for research grants, and we expect to increase these funds in the future.
Technologies Under Development
While we are currently focusing our efforts on DOCC technology, we are working to develop SOFCs and emissions monitoring equipment. These other technologies also have large potential markets that we have yet to quantify in our models. The SOFC market depends on our ability to prove that we can cheaply generate zero-emission electricity directly from methane. We are willing to silo these projects if investors are interested in investing into them directly.