Why biogas specifically? This should work fine with regular fossil methane, and it will de-risk your deployments. There are plenty of places in Texas that uselessly flare the natural gas instead of doing anything with it.
Our process is also more efficient with CO2 so we actually like the CO2 being present.
Natural gas is abundant in some areas and is wasted. If you can prove that you can build cost-efficient small-scale synthesis units, then moving to biogas should later be a no-brainer.
I'm also pretty sure that you need to pre-treat the gas to remove stuff like sulfur or ammonia from it. And you can get that for "free" in places that distill the LPG from the well gas.
From a "cynical investor" point of view, it looks like you're knee-capping yourself by going for a vastly smaller market. To me this is a huge red flag, usually pointing to companies that either do green-washing, or already plan to pivot once they get the initial investment.
I wholeheartedly agree that the priority should be to get something built. We are currently in the process of doing that at a wastewater treatment plant. There is obviously additional risk in doing that at a biogas site. We believe we have the team and the technology to achieve that.
We do actually use quite a large amount of the CO2 in the process. An amount of CO2 that would not be present at those methane sites.
The biogas volumes in the U.S. are smaller than the wasted natural gas volumes, however it is still a substantial volume (that could cover the methanol industry 3x-5x over) and it is expected to continue to grow.
Let me know if you have any more comments or questions.
Catalyst engineering for methane/syngas is extremely tricky and getting it working reliably is always a challenge. Hope you succeed.