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.
Kevmo kept putting up the same link hundreds of times but NOWHERE in the release does it mention any money. I think that is the fourth time you have posted it to me. In the future you can just refer to it as the IH PR. Thank you.
As for testing, the press release states that "IH acquired the intellectual property and licensing rights to Rossi's LENR device after an independent committee of European scientists conducted two multi-day tests at Rossi's facilities in Italy. . . . In addition, performance validation tests were conducted in the presence of IH personnel and certified by an independent expert."
Still not enough for you? Then take a look at the story in the Triangle Business Journal: Raleigh’s Cherokee buys into controversial nuclear tech device. That article states: "Vaughn did not disclose financial terms of the deal with Rossi, but Industrial Heat stated in a U.S. securities filing last fall that it had already raised $11.6 million from investors."
“That article states: “Vaughn did not disclose financial terms of the deal with Rossi, but Industrial Heat stated in a U.S. securities filing last fall that it had already raised $11.6 million from investors.” “
The money was seeded by Cherokee partners.
“The press release begins by stating that Industrical Heat LLC “has acquired the rights” to Rossi’s E-Cat.”
Why in the heck would Rossi cede rights to the E-Cat when he has the production facilities going full bore for delivery in 1Q 2014.
Does not compute.
“Since acquiring Rossi’s technology, IH has engaged in a broad-based effort to protect it by preparing numerous patent applications related to the core technology as well as associated designs and uses.”
hmmm. A little birdy told me that Rossi didn’t pursue patents because he didn’t want to reveal his secrets till he was in production. Something does not compute here.
As for there not being immediate production and sale of E-Cats as once projected by Rossi, whatever else may be said of him, he has never been accused of having a talent for business. At some point, Rossi was forced to recognize that no matter the merits of the E-Cat and that he might be able to get it produced in numbers, he would need independent safety testing and certification before he could market it.
Based on the press release, it seems that Industrial Heat intends to devote an initial production run to a round of independent testing by universities, governments, and select commercial customers. The E-Cat may fail to work or it may prove to be of marginal value, but with a credible American venture fund now in charge, it will not be rushed to market without its merits first being proved.
http://freeenergyscams.com/andrea-rossi-e-cat-report-on-the-petrol-dragonomar-scam-part-1a/
If you want to find out more about Rossi’s multiple arrests and how Mats Lewan shills for him, read the above link.
“As for there not being immediate production and sale of E-Cats as once projected by Rossi, whatever else may be said of him, he has never been accused of having a talent for business.”
hmmm. I think saying in 4Q 2013 that you had sales that would be shipping in 1Q 2014 and you didn’t would be outright lying!
Rossi claims to have one-MW thermal unit available. However it requires 200kw input to keep it running.
At 30% efficiency that means he can get 300 kw out max with 200 kw in. That gives him an output of 100kw which is a revenue of about $2 dollars an hour. If he runs 24/7 he will net less than $100,000 per year (I am being generous). Invest in Treasuries and you get over $400,000 per year. Anyone with any sense would put their money in treasuries.
Again, inventors are notoriously prone to excessive optimism and over-promising, and Rossi obviously lacks business ability. Does that make his E-Cats a fraud? As a simple matter of logic, no, even if Rossi’s defects and failures justify a higher degree of caution in assessing his claims.
No doubt Industrial Heat, NASA, and others working on LENR technology and devices are intently focused on improving energy yields. Of course, NASA's perspective is likely informed by its institutional understanding of the scale and pace of technological progress achieved after the first flights of the Wright brothers Flyer and Robert Goddard's rockets.
“NASA”
NASA shut down its work on LENR.
Source?
“Source?”
NASA
You are struggling. Posting a one pade unsighned, undated, meaningless abstract as representing nasa’s promise of a lenr future????
Page not found
The requested page “/sites/default/files/attachments/” could not be found.
” That is what I provided, with enough text for you to backtrack and explore the matter further using a search engine.”
Yep. Leads to dead end.
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“NASA’s perspective is ...”
That LENR is an unproven and distant possibility. They have only one dude that even looks at the subject and he has not reviewed any of the ‘tests’.
His statement: “No peer reviewed, published sources.”
“How about a web link to the source? That is what I provided, with enough text for you to backtrack and explore the matter further using a search engine.”
Yep. An example of our government waste by Doug Wells, NASA Langley Research Center.
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