Posted on 01/31/2014 5:44:59 PM PST by Kevmo
Start-up purchases controversial cold fusion nuclear reactor E-cat - Let's see if it works
01/26/2014
A North Carolina based company called Industrial Heat LLC has come out and admitted that it now owns Andrea Rossi’s ecat low energy nuclear reaction (LENR) technology. Industrial Heat has put out a press release in which it confirmed rumors that it had spent $11 million to purchase Rossi’s device.
The press release also confirmed speculation that Tom Darden of Cherokee Investment Partners a North Carolina equity fund is a principal investor in Industrial heat. It stated that one of Darden’s associates J.T. Vaughn is the manager of Industrial Heat LLC. Industrial Heat LLC is based in the Research Triangle region around Raleigh, North Carolina where many technology companies have operations. Cherokee’s website describes Vaughn as a Senior Analyst at the firm.
Vaughn said that his company had acquired the intellectual property rights to the Ecat in the press release. Vaughn and Darden were convinced of the Ecat’s authenticity by a report prepared by physics professors Guiseppe Levi, Hanno Essen, Ronald Petterson, Torbojorn Hartman, Bo Hoistad, Roland Pettersson and Lars Tegner. The scientists tested the ecat in December 2012 and March 2013 and observed its operations. Vaughn and Darden also had an unidentified independent expert exam the ecat before investing their money in it.
The press release stated that Industrial Heat has prepared numerous patent applications to protect ecat technology but wouldn’t’ elaborate. The release didn’t say if any of these applications have been filed or not.
“The world needs a new, clean and efficient energy source,” Vaugh said of his reasons for acquiring Ecat in the press release. “Such a technology would raise the standard of living in developing countries and reduce the environmental impact of producing energy.”
The press release stated that Industrial Heat wants to enter into partnerships with other companies, universities and nongovernment organizations (NGOs) to develop LENR technology. It didn’t identify any of these partners or mention any specific uses for Ecat technology.
Predictably and sadly the cold fusion skeptics have already started attacking Industrial Heat. The Gizmodo blog is claiming that Darden and Vaughn were bamboozled and bought a reactor that might not actually work. Typically the skeptics provide absolutely no proof for their accusations they just make them and hope nobody questions their statements. Those who criticize Rossi for not verifying claims turn around and do exactly the same thing.
Tom Darden
Vaughn and Darden seem like hardhead and sensible businessmen who have done their homework. They actually looked into Ecat and got the facts before investing. Gizmodo mentions Rossi’s criminal conviction but doesn’t mention the involvement of distinguished professors such as Guiseppe Levi in the ecat project.
Industrial Heat’s confirmation is very good news, despite the skeptics. It’s the biggest investment so far in cold fusion and it proves there are far sighted businessmen interested in commercializing this important technology. Hopefully Industrial Heat will be able to commercialize the Ecat and looking into other LENR devices such asthose at Brillouin.
I also hope that Industrial Heat’s brave stand will inspire other investors to put their money behind low energy nuclear reaction. We need massive investment in this technology now.
Yup. That would be as foolish as buying a computer from Thomas Watson, Sr., a man who was indicted and convicted of fraud. I wonder how Watson’s company, IBM, turned out?
” Thomas Watson, Sr., a man who was indicted and convicted of fraud”
You have your facts wrong. It wasn’t fraud. And he sold a real working product at a price that customers were very happy with.
As if, for our purposes, there is a meaningful distinction between classic fraud and illegal, anti-competetive practices that are considered a fraud on the market.
” As if, for our purposes, there is a meaningful distinction between classic fraud and illegal, anti-competetive practices that are considered a fraud on the market.”
Selling a great product cheaper than your competitors is a far cry from selling a sham product and falsifying reports to the authorities.
Words have meaning ... particularly in the legal sense.
... was your intent to deliberately mislead me and the one other person that might look at your posts?
The point of course -- which you seem to be determined to divert attention from using low comments -- is that bad, even illegal business behavior is not incompatible with the pursuit of genuine innovations in technology. Thus, in later years, Thomas Watson, Sr., built IBM's original business of punch card tabulators into pioneering lines of modern business computers that virtually created and defined the market for such machines. In order to do so, Watson consistently put large sums into research and development, even during the Depression.
Perhaps Rossi or someone else will soon bring to market "an impossible machine" in the form of a practical cold fusion device. Again, I see a favorable indication as being that a US venture fund in North Caroline evaluated Rossi and his background, had additional third party testing done on his E-Cat, and then proceeded with an investment in them. Events will tell if they are fools or visionaries.
“Perhaps Rossi or someone else will soon bring to market “an impossible machine” in the form of a practical cold fusion device.”
We don’t have long to way. He promised delivery by the 1Q 2014. How many days left to the end of 1Q 2014?
“The point of course — which you seem to be determined to divert attention from using low comments — is that bad, even illegal business behavior “
You fail to mention that his conviction was overturned ....
“That would be as foolish as buying a computer from Thomas Watson, Sr., “
It was Jr. that pushed the computers. Sr. was reluctant to commit to computers.
“As if, for our purposes, there is a meaningful distinction between classic fraud and illegal, anti-competetive practices that are considered a fraud on the market.”
TW Sr. never went to jail. Rossi spent five years in the pen.
As best as I can tell from web searches, the charge against Rossi was bankruptcy fraud, and he seems to have been under house arrest and not in prison.
Tom Watson, Sr. avoided going to prison due to appellate court intervention based on a legal issue. That was not a vindication on the merits. The facts of Watson, Sr.'s misconduct are not disputed.
He spent 5 years in prison. He claims big but produces nothing.
Petroldragon was a scam and all he produced were toxic wastes the government had to clean up.
His Leonardo Technology machines were also a big fraud.
“Tom Watson, Sr. avoided going to prison due to appellate court intervention based on a legal issue.”
Geez. Hmmm ... The law was on his side ...
The facts were definitively against Watson, Sr. The reversal of his conviction on appeal was due solely to a defect in the trial process.
Based on what specific sources of information do you say that? In any event, Rossi, his background, and his device were evaluated by a North Carolina venture fund, and after a closer look at them than either of us have had, they put money into the E-Cat. They apparently see it as worthy of further development. That argues against the E-Cat being a fraud.
I know that Kevmo had financial dog in LENR scams ... you?
“ they put money into the E-Cat. ”
No reputable source for that.
No, my racket is politics.
Industrial Heat Has Acquired Andrea Rossi's E-Cat Technology
RESEARCH TRIANGLE, N.C., Jan. 24, 2014 /PRNewswire-USNewswire/ -- Industrial Heat, LLC announced today that it has acquired the rights to Andrea Rossi's Italian low energy nuclear reaction (LENR) technology, the Energy Catalyzer (E-Cat). A primary goal of the company is to make the technology widely available, because of its potential impact on air pollution and carbon dioxide emissions from burning fossil fuels and biomass. . . .
I keep noting two things.
1. NO mention of money being invested!
2. Notice that they did NOT say that IH had done an evaluation. Nice ‘hands-off’ way of avoiding future litigation for fraud.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.