Tom Darden, founder and CEO of Raleigh’s Cherokee Investment Partners, an investor in Industrial Heat LLC, has stated he has “moved on” from Andrea Rossi and his E-Cat technology, despite ongoing litigation with Rossi and his partners.
Darden says he’s moved on to other possibilities when it comes to LENR technologies. Rossi’s research was just one of a dozen avenues Industrial Heat was exploring. Of those 12, Industrial Heat has halted or slowed funding on about half, he says, adding that the management team feels “increasingly good” about the remaining avenues. “Our triaging process is working pretty well to figure out which ones we want to continue to support and which ones we don’t.”
Leonardo Corporation announced today, June 2, 2016, that it has terminated the license granted to Industrial Heat, LLC. for the Energy Catalyzer (“E-Cat”) technology. Effective immediately, Leonardo Corporation has the sole and exclusive right to the E- Cat intellectual property in all territories previously licensed to Industrial Heat, LLC. According to Leonardo Corporation, the decision to terminate Industrial Heat, LLC.’s license follows Industrial Heat, LLC.’s failure to pay the agreed upon licensing fee.
The license previously granted to Industrial Heat, LLC gave the company the exclusive rights to use the E-Cat intellectual property in the geographic territories of North America, Central America, South America, the Caribbean, China, Russia, Saudi Arabia and the Arabian Emirates.
In an effort to avoid any delay in making the E-Cat units commercially available in the above territories, Leonardo Corporation will be working diligently with its strategic partners to develop a new manufacturing and distribution strategy for those territories. For those customers located in these territories, all future inquiries regarding the E-Cat should be directed to Leonardo Corporation directly through its website.
As a result of its terminating Industrial Heat, LLC’s license, Leonardo Corporation has also demanded that Industrial Heat, LLC immediately assign all patents and patent applications based upon the E-Cat intellectual property to Leonardo Corporation, or abandon these applications in all jurisdictions.
Additional information is available at www.ecat.com.
Contact: Leonardo’s attorney John Annesser, Esq. JWA@silverlawgroup.com
SOURCE: Leonardo Corporation