Luca's proprietary technology stimulates native microorganisms that reside in subsurface hydrocarbon deposits, such as coal, oil and organic-rich shales, to accelerate the bioconversion of such resources into methane, the principal component of natural gas, which Luca produces and sells using existing infrastructure. Luca produces this newly created gas from existing wells and delivers it to the natural gas market via existing pipelines.
Luca's operations are initially focused in the Powder River Basin where it currently owns and operates more than 1,350 wells. Luca intends to acquire additional wells in the Powder River Basin and expand its operations to multiple basins in the US and abroad.
Luca was formed in 2003, and its management team offers a unique combination of scientific, operational and managerial expertise in biotechnology and traditional exploration and production. Luca's management team's technical expertise includes microbiology, chemistry and biochemistry, engineering, geosciences, and traditional exploration and production. Luca has successfully concluded a series of venture capital and private equity offerings between 2006 and 2008 totaling approximately $99 million. Luca's financial partners include Kleiner, Perkins, Caufield & Byers, One Equity Partners, Oxford Bioscience Partners and BASF Venture Capital.