Our co-founders each own 10,750,000 shares of our common stock. Our founders are under no obligation to invest in, lend to, or support our operations from a financial perspective or guarantee our debt.
Our co-founders, which are controlled by our Chief Executive Officer and Chief Technology Officer, together control 72.36% of our voting stock. Further, our officers and directors, who are also officers and directors or our founders, will manage our operations.
What's the CEO up to these days 2016:
Tier 1 supplier to Chrysler
Vice President, Business Development
One of the founders of General Automotive, Dan Valladao has 25 years of automotive experience, including in the retail, wholesale and OEM sales channels, and was instrumental in increasing the company's sales from just over $3 million in 2004 to $15 million in 2007. Prior to co-founding General Automotive, Mr. Valladao served for five years as Vice President of Sales and Marketing for APS International, a global manufacturer and distributor of automotive product. He was previously responsible for sales to OEM companies such as Ford, GM, Chrysler, Honda and Toyota for HSG Corporation, a large manufacturer's representatives firm. In 1988, Mr. Valladao served as Executive Vice President to Mobile Living Corporation, a retailer of vehicle accessories, building the company into a multi-store chain with sales in excess of $20 million within five years.
http://www.manta.com/c/mm579dn/sencer-inc FORM 10-Q
Filed 02/21/12 for the Period Ending 12/31/11
GCLLE Security Details Share Structure
|Market Value1 ||$971,302 ||a/o Jul 31, 2012 |
|Shares Outstanding ||32,485,000 ||a/o Feb 17, 2012 |
|Float ||Not Available || |
|Authorized Shares ||Not Available || |
|Par Value ||0.01 || |
|Shareholders of Record ||37 ||a/o Jun 27, 2011 |
Security Notes Short Selling Data Transfer Agent(s)
| ||Ex. Date ||Record Date ||Pay Date |
GreenCell is engaged in a joint venture with SenCer Inc. to develop, commercialize and market SenCer's UltraTempT ceramic composite materials for Home and Transportation applications. GreenCell has identified multiple industries with significant commercial applications with potential revolutionary results. Some of the many applications for this technology are SOFC Fuel Cells, Igniters, Braking, Oxygen Sensors, Ceramic Heaters. Link to The website
GreenCell's Core Technology:
SenCer Inc. has developed a ceramic composite material called UltraTemp™ based upon ceramic fiber/ ceramic matrix combinations. Several blends have been developed with high purity oxide and carbide chemistries. These materials have exhibited excellent thermal and temperature stability as high as 1800°C. The physical pore structure and fiber physiology have allowed an unprecedented bond when coatings of high purity oxide and metals are placed on the surface and co-fired with the composite.
UltraTemp's unparalleled qualities enable new applications that previously have not been possible.
GreenCell's Ceramic Igniter Technology:
UltraTemp™ and its ability to bond any ceramic or metal conductor would be ideally suited for use as a small systems igniter. Not only would the materials strength and durability be superior to existing Silicon Carbide (SiC) based igniters but it would be lower in cost to these igniters. The cost would also be much less than some of the newer offered technologies (silicon nitride - Si3N4). Since any resistance metallic ink can be tailored to the surface of UltraTemp™, no expensive power supplies would be needed and designs could be fabricated to any AC or DC voltage levels and resistances. Shape dependency tied to specific ceramic technology immediately goes away and simple as well as complex shapes with intricate patterns are possible. Since coatings can be overlayed, hermetic coatings are possible and SenCer Inc. has already developed a thermally matched pure glass and glass ceramic coating. These would be especially useful in any damp or corrosive environment as well as for advanced lifetime capabilities.
GreenCell's O2 Sensor Technology: Automotive Oxygen Sensor
This technology has already been used to produce a ceramic based heater similar to the commercial Japanese automotive heater as well as some first O2 circuits during a fuel cell demonstration program. The following pictures show the technology being used for the O2 sensor heater. The ceramic coating for the O2 sensor is also shown in these pictures. Finally a graph of the response of these O2 heaters is shown against the leading Japanese company. The response characteristics are identical to the current O2 heater.
The proposed oxygen sensor would contain a thick film sensor containing the heater and ion conductor layer as a leaded insert. The layer would be inserted into a precut flange that would subsequently be glass bonded using a seal glass technology. This design will fit into the current thimble housing and lends itself to automated manufacturing. GreenCell already has developed a high temperature seal coat which is stable to 1400°C and can be masked around the sensor element. Proprietary electrode technology is already developed to replace platinum and SenCer has ink production facilities at its disposal. Padding and brazing technology is already established. The following drawings show the design and concept.
GreenCell's Fuel Cell Technology:
The proposed Fuel Cell Design stack design utilizes the same basic technology as proposed for the oxygen sensor. Proof of concept has been completed through a program funded by the New York State Energy Research Agency (NYSERDA). Most of the base concept work was done during this feasibility study and we were encouraged by the results. Although final fuel cell output was not demonstrated, earlier work on an inert anode cell showed it's potential output at 2-3 times existing technology. Further work is now needed to provide exact aging and power output data as well as to simulate the best design. The following UltraTemp™ properties show the materials direct relationship and advantages to the new fuel cell design.
How Fuel Cells Work: Fuel cells generate electricity from an electrochemical reaction in which oxygen (air)and a fuel (e.g. hydrogen) combine to form water. There are several different types of fuel cell but they are all based around a central design. The electricity produced can be used to power all sorts of devices, from cars and buses to laptops and mobile phones. The by-product heat is also used in some applications, for example to keep houses warm.
What we describe as the fuel cell itself consists of a so-called fuel cell stack. A stack is basically built up of a number of individual cells.
Each individual cell within this stack has two electrodes, one positive and one negative, called the cathode and the anode. The reactions that produce electricity take place at the electrodes. Every fuel cell also has an electrolyte, which carries electrically charged particles from one electrode to the other, and a catalyst, which accelerates the reactions at the electrodes. The electrolyte plays a key role. It must permit only the appropriate ions to pass between the anode and cathode. If free electrons or other substances could travel through the electrolyte, they would disrupt the chemical reaction.
Utilizing a New Approach to Ion conducting Materials
Concept: SenCer Inc. has field test data supporting UltraTemp's remarkable thermal properties and the bonding relationship with engineered oxide, conductive metals and ceramics coatings. SenCer can now develop devices based upon this new technology in the oxygen sensing (automotive and medical markets), oxygen generation and power generation (fuel cell technology). This approach can inherently improve the current generation of technologies and would provide a patent protectable development in advanced ceramics.
Many of the current device concepts are based upon the following model:
The Concept has inherent property problems including:
- Thermal Properties Mismatch (Expansion and Conductivity)
Poor Mechanical Properties (Due to limitations of Ion conducting materials + Conductive Layers)
Debonding of Dense Layers at the Interface. (Poor Bond, Aging Effects)
Difficult to modify chemical compositions and properties
Difficult to Manufacture
Current device designs that utilize this approach include SOFC fuel cell components based on ion conductor (electrolyte) supported stacks, oxygen sensors, oxygen generators, and discrete electronic devices. These can be classed as electrolyte supported (flat plate SOFC fuel cell, oxygen sensors) or anode supported (tubular SOFC fuel cell).
SenCer's New Concept
This concept has many benefits including:
- Controlled Thermal Properties (Expansion and Conductivity)
Controlled Mechanical Properties inherent in UltraTemp™ substrate
No limitations of Ion conducting materials + Conductive Layers
Strong bonding of coated Layers at the Interfaces. (Reduces Aging Effects)
Unlimited in size and complexity
Automated Manufacturing possible
This could be thought of as a composite supported device as it relies on the thermal properties of the UltraTemp™ and the new physical and chemical bonding of the co-fired layers. The process can produce any shape in an inexpensive software based production environment.
Test bench systems have already been developed for oxygen sensor testing and fuel cell testing. Below is the initial complete UltraTemp™ fuel cell stack showing the use of the sealed composite.
Timing: GreenCell's activities and objectives are divided into two areas; short term and long term. This helps us avoid the principle pitfall of most fuel cell companies, the fact that full commercialization is just beginning and will ramp up over the next 10 years.
Short term revenue Oxygen Sensors: We have the methods and technology to significantly cut the materials costs of O2 sensors while end running all the existing patents. This same technology has applications in other automotive applications. We believe this technology can be available for licensing within 2 years.
Longer term revenue Fuel Cells: The development of energy-efficient, environmentally friendly fuel cell technologies. GreenCell's groundbreaking technology solves the two most persistent problems in fuel cell design - cost and durability - by replacing expensive platinum conductors with co-fired proprietary ceramic conductive layers. This is a breakthrough approach, and we are pleased to position GA at the forefront of this important effort through our joint venture with SenCer, which over the last 10 years has provided research and core ceramic materials to some of the leading developers of solid oxide fuel cells (SOFC). We believe we can generate commercial (non-government) revenue from fuel cells within 4-6 years. The fuel cell market is expected to deliver exponential growth over the next 15 years as fossil fuels are phased out in transportation applications.
Revenue Model O2 Sensors: Our first revenue stream will come from licensing our O2 sensor technology.
We have several differentiating features which will most definitely generate interest on the part of the world's leading O2 sensor manufacturers. First and foremost current technology requires the use of platinum, a very expensive material. Our design uses ceramic composites and Cermet materials instead. In addition, one of the principle problems in O2 sensor design is the cover of the tip. This is a coated metal with baffles that allow the exhaust gasses access to the sensing tip but not the full flow of gas pressure in the exhaust tube. These tips corrode and are a major cause of component failure. We can avoid this by creating an Ultra-Temp tip that is porous and resistant to the harsh conditions within the exhaust system.
We can be ready to patent and protect our technology in less than 18 months. At that point we will show prototypes to the largest O2 sensor manufacturers and begin licensing the technology.
Revenue Models Fuel Cells: Although fuel cell technology is now beginning to see genuine commercialization on a small scale, high volume demand may be as far as 10 years away depending on geopolitical and economic forces. Two of the current business models in the fuel cell industry are stack developers and IP producers. Stack developers manufacture fuel cell stacks for use by third parties. IP producers work on producing intellectual property which they lease/license to third party companies. Our model is a hybrid of both current models. We will develop and manufacture fuel cell stacks and stack components but we are also gearing to license the technology, supply the proprietary ingredients and lease the special machinery to large companies who wish to ramp up high production systems. This puts them in control of the production process and GreenCell in control of the technology.
In the shorter term, we intend to approach a set of interested customers in the transportation industry to form a consortium of users of our stacks. We can then contract for both stack supply and technology transfer. In addition, GreenCell's license gives it ownership of all future developments created under the GreenCell umbrella. This is a significant potential revenue stream as technology developed under the GreenCell license can be used in many applications.
Platinum: One of the key economic drivers for ATCs technology is the avoidance of platinum in its designs. Here is some information from the NYMEX:
"Platinum is the principal metal of the six-metal group that bears its name; the other platinum group metals are palladium, rhodium, ruthenium, osmium, and iridium. All possess unique chemical and physical qualities that make them vital industrial materials.
Platinum is among the world's scarcest metals; new mine production totals approximately only 5 million troy ounces a year. In contrast, gold mine production runs approximately 82 million ounces a year, and silver production is approximately 547 million ounces.
Supplies of platinum are concentrated in South Africa, which accounts for approximately 80% of supply; Russia, 11%; and North America, 6%.
Because of the metal's importance as an industrial material, its relatively low production, and concentration among a few suppliers, prices can be volatile."
The Market for Ceramic Igniters
SenCer Inc. has had several discussions with original equipment companies for the ceramic igniters. It is expected that a rapid commercialization of the UltraTemp™ igniter in a $600 million dollar global market can be achieved based upon addressing the industry need. There are an estimated 4 million gas fired furnaces produced by the OEM's each year. The igniters cost $8-$10 each as a complete unit. Therefore, the igniter market for just new gas furnaces (which is a small portion of the overall igniter market) is $32-$40 million with a total overall market of approximately $600 million per year. Through the use of the proposed advanced ignition and sensing system, a reduction in home fuel energy reduction could be as high as 30%. The direct result of this development will be to offer better energy management, a safer environment for consumers, and a lower liability to original equipment manufacturers.
The Market for Oxygen Sensors
Global automobile production is currently 71 million vehicles per year. Each vehicle has an average of 2 oxygen sensors per bank of cylinders. Air quality legislation mandates tighter emission controls and the number and complexity of oxygen sensors is increasing. Recent legislation in the United States doubled the number of oxygen sensors in each vehicle. As these vehicles age (80,000 - 100,000 miles) every oxygen sensor will have to be replaced. We estimate the global market for oxygen sensors including Tier 1 OEM supply and aftermarket to be greater than 8 billion dollars per year and growing.
How the sensor works: Oxygen sensors are used in modern automobiles to control the fuel and ignition systems to optimize a car's performance in the areas of emissions and fuel economy. Sensors are located before and after the catalytic converter to check on the amount of oxygen in the exhaust. The sensor sends signals to the car's on-board computer, which then can adjust several variables, including air/fuel ratio and timing, in order to bring the engine into the optimum operating range.
The Fuel Cell Market and General Information
Evidence suggests that commercialization of the fuel cell began in 2007. This belief is based on the increase in manufacturing capability, decreasing costs and the increasing number of OEM tie-ups which took place during the year. Fuel cell technology is being pulled into the market by concerns over climate change, air pollution and dependence on imported fuel, and by the consumer-led demands for longer product run time and greater power requirements in portable devices.
As a technology fuel cells are highly efficient, offer a reduction in greenhouse gas (GHG) emissions, and are modular, allowing a scalable approach to increased power requirements, Currently, fuel cells are relatively expensive (due to platinum content) and there are a number of issues outstanding in terms of research, development and demonstration, codes and standards, fuel infrastructure and distribution.
Over the past three years the industry has seen an annual growth rate of 59% in fuel cell units delivered, with some 12,000 new units shipped during 2007. Fuel Cell Today estimates that the current global manufacturing capability for fuel cells is over 100,000 units per year, with a quarter of this coming from companies whose business activity is exclusively the development of hydrogen and fuel cell technologies.
Climate change: GHG emissions come from a range of sectors with current data from the European Union showing nearly one third from the production of energy and a fifth from transportation. Due to their efficiency gains and use of less carbon intensive fuel, the commercialization of fuel cells could provide significant cuts in GHGs emitted from energy production, buildings and transport, making them a key target for government support.
Energy costs and security: The geopolitics of oil has come under intense scrutiny over the last decade. With oil prices breaking $140 per barrel in 2008, an unthinkable level even three years ago, and with the costs of exploration and extraction rising, diversification of energy supplies is high on the agenda. While hydrogen, the primary fuel for fuel cells, does not itself exist in any natural form on Earth, it can be made from a wide range of sources including wind and solar.
Urban Pollution: Transport is one of the most important sources of atmospheric urban pollution. Although some cities are tackling this issue with policies such as low emission zones or even banning the use of internal combustion engines in certain applications. We expect to see increasing legislation in this area.
Transportation: In the automotive arena, a number of different factors should help to push sales of fuel cells. Legislation is widely mentioned in the press, particularly in the form of the Californian zero emission vehicle (ZEV) mandate, which quantifies minimum numbers of zero emission vehicles which must be sold annually in California. Fuel cells also have the potential to be more fuel-efficient than their competitors and, in the long-term, this may prove to be the biggest driver for real sales of this technology.
Production of fuel cell powered light duty vehicles has grown considerably in 2007, with around 250 new units introduced and 800 units now deployed worldwide. Several of the major automotive OEM's have made significant announcements on fuel cell vehicles in 2007. Chief among these are Honda and General Motors who each announced that they would be leasing 100 of their fuel cell cars to customers in the next year. Both of these projects are very promising as they should lead to wider customer acceptance.
Demonstration Projects are likely to continue for th next two years while larger-scale deployment of thousands to tens of thousands of LDVs should occur within the next 8 years. We anticipate greater and greater pressure originating from the geopolitics of oil as well as GHGs to accelerate fuel cell vehicle development and production beyond today's expectations. There is no question that on a global level it will take up 5-12 years to make substantial strides in the total fuel cell infrastructure from generation to distribution to end user. However as pressures mount the amount of investment and technical resources will grow exponentially and companies like GreenCell will move the industry forward.
We believe that our SOFC technology will meet all transportation criteria at a much lower cost, with rapid start up, less specialized fuel and with longer life expectancy.
Prototype Development: Because SenCer already has nine years of development in the core UltraTemp™ technology including years of research in Ceramic Heaters, Oxygen Sensors and Fuel Cells we estimate prototype development and testing will take 6-24 months. Through an initial development program with New York State, the proof of concept has been completed and device fabrication utilizing the technology has proven successful.
Intellectual Property protection and patents: A substantial budget is reserved for intellectual property protection. Preliminary existing patent reviews of this core technology and the potential devices developed from it, shows that several new patents can be awarded.
Ceramic Heaters/Igniters: SenCer Inc. has been approached by both original equipment manufacturers as well as the market leader of the technology to take advantage of our UltraTemp™ material properties to fabricate a low-cost igniter that can resolve all of the flaws of the current technologies. The original equipment companies and homeowner insurance companies are also interested in the development of a low-cost flue sensor based upon the same technology with a corresponding low cost control circuit.
O2 Sensor Licensing: Once we have protected our developments we will offer licensing opportunities with all the major O2 sensor manufacturers and OEM Partners. We will also have the ability to manufacture the sensor package ourselves and deliver to market through existing sales channels.
Fuel Cell Stack Design: The UltraTemp™ core technology offers an integrated solution to fuel cell stack design, several major problem solutions to existing problems are possible with it. An integrated hydrogen sealed outer structure is possible that has low cost, and high life expectancy. The problem of degrading hot gas flow porting can be solved by integrated gas port channels within the structure. The UltraTemp™ supported cell design offers bi-cell capability with built-in fuel/air flow and combustion control, eliminating potential hot spots. The high temperature bonding of layers allows for rapid start-up and a high output potential several times higher than the current technology, thereby increasing output per size metrics. Overall thermal aging of the system is minimized since the thermal properties of the stack are developed from the same material base offering a matched thermal expansion.
As soon as the prototypes are completed we will begin work on the stack layout, gas flow and overall design. We will also apply our proprietary sealing technology to the outer casing and design high volume automated manufacturing methods.