Industrial Heat LLC, a North Carolina company put out a press release today announcing they had acquired the rights to Andrea Rossi’s E-Cat, and were working on plans to commercialize the technology.
IH CEO JT Vaughn stated, “The world needs a new, clean and efficient energy source. Such a technology would raise the standard of living in developing countries and reduce the environmental impact of producing energy,”
The press release says that IH was exploring working with industries, universities and NGOs to help develop and spread the technology. Tom Darden, who co-founded Cherokee Investment Partners, a series of private equity funds specializing in cleaning up pollution, is a founding investor in Industrial Heat.
Vaughn, who is also a senior analyst at Cherokee, confirmed through a press release that IH has acquired the rights to Rossi’s LENR device after a committee of independent European scientists concluded after multiple days of testing at Rossi’s facilities that the device worked.
More can be read here.