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.
Well its extremely tricky you see.
But you confirmed my assumption Ego was the cause to talk about something before it was ready to be introduced to the world.
Doesn't matter who's ego...
When I can plug my Kindle into and charge it to full just like my wall outlet will do I'll get excited until that time it's just another Bigfoot hunt...
Here is hoping Bigfoot is finally caught...
BTW you get all bent out of shape in your earlier reply but you seem to do that when someone asks to see a working model that actually produces energy...
And you keep bringing up the Wright Brothers. Well here is an idea use them as your guide. Start the engine and throttle her up and start flying. Until the Wright Brothers did that they had a cool idea. Afterwards they were in the aviation industry.
If these guys want to move from cool idea to being in the energy industry then charge a kindle, light a light bulb, run an AC unit, make a fan work, power a computer etc.
Otherwise STFU and get back in the lab and get it done.
Edison demonstrated his system for the public to see. 134 years ago in Menlo Park New Jersey Tom hooked up a bunch of lights in and around his lab and lit up neighboring buildings as well to show off his improvements to the light bulb.
So if this guy has a working model he's got till December 31st 2014 to hit the 135 anniversary. What a hoot if he could recreate the atmosphere in the same spot with a new cheap form of energy and light up some of the replicas of the original Edison bulbs.
That's how you do it. Not claim shit and then say, "Its extremely tricky" when someone asks why you don't show it to the world.
Exactly.
$11M seems reasonable, for something that shows promise, but still needs a lot of R&D spending to see if it will ever turn into a viable product, in an environment where most doubt it will ever work.
Now we need to see if they can come out with a demo of long-term operation under rigorous testing conditions.
No, "chief scientist" means he's an employee who either produces results with the resources provided, or gets fired and replaced.
I'm guessing Rossi's been given a budget and a deadline for getting this the e-cat to work, with probably some stock options if he succeeds.
A sizeable chunk is not the whole thing. Venture capital always take a sizeable chunk. But the owners keep a good chunk. Steve Jobs and Steve Wozniak kept enough to become billionaires. You have to give up equity to raise venture capital. But you don't give up your whole position.
Perhaps the rest of us who were patient and urged folks to wait and see, had the right idea all along.
I can't imagine how much courage it must take to sit on the fence, remarkable.
There are plenty of upstart/renegade ibankers to fund this sort of thing.
IF there is a working prototype - it would logically receive all the funding it needed.
iBankers want to get rich, and there are plenty of them that don’t give a hoot about what Exxon thinks.
That line of thought is just nonsense.
The e-cat doesn't work?
What do you mean slow? Rossi sold a huge working e-cat to a mysterious military agent some time ago.
Well, for a while there it took more courage than some anuses here could accept. You wouldn’t be one of them would you?
"Work" in the sense of "produce heat in a reliable manner, without need for constant monitoring, and over a long enough period to be viable as a product".
It doesn't really matter what Exxon thinks. We are not going to see e-cat powering vehicles for a long time.
Also, Exxon would not be the one to worry about. OPEC governments with al-Qaeda terrorists on retainer would be the ones to worry about. If we come up with something that makes oil much less important, the Muslim world (plus Russia) sinks back into poverty.
OK
My point is that IF the eCat could demonstrate that it actually worked to the satisfaction to iBankers THEN it would have access to more than enough capital. to grow very quickly.
Nobody has the power to stand between iBankers and easy money.
Plausibly, much more is happening out of public view. Nevertheless, although the military buyer has arrived at an evaluation of the Rossi device, there is no apparent slowdown in the funding and development of new models of conventional military and naval engines. This may be taken as an indication that, at best, LENR and ecats are only at the beginning of what will be a protracted period of development before practical devices and applications reach the market.
The only thing that will forward his claim is to allow independent verification by reputable labs(plural, from different countries). You know that and yet you keep dodging the issue.
I believe the 'wait and see' crowd had it right.
Mankind's history is a never-ending story of its incremental defeat of the physical universe. What's commonplace today, was science fiction in the not-too-distant past. Technologies that seem impossible to achieve today, will likewise be perfected in the future.
It's hard for me to believe that this (or any other) group would have shelled out $11 million dollars to purchase the e-cat if there wasn't really something to it.
I'm still keeping an open mind about it.
I think you summed it up precisely right.
In 1870, can you imagine a person telling someone else that we could have people on the Moon in less than 100 years?
I know Wells came up with his movie, but the rank and file must have thought that was pure lunacy, or at the best Lunarcy...
LOL
I believe we will overcome gravity as some point. There are key discoveries that will change the universe, and we’ll be spellbound by them.
You watch, the age of the universe will be debated and changed in our future. Man is clever, but he has never been able to quantify how clever he is or is not.
And yet along the way, he is convinced he knows it all...
Or to license the intellectual property.
If I had to choose, I think that (and breaking the light speed barrier) would be at the top of my 'bucket list' for this lifetime. If either of those breakthroughs happen within the next 30 years, I may still be around to see it.
I also believe the current estimates for the age of the universe will be amended. I think it's far older than scientists think it is.
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