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NEOM gonna run on the contents of this post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41793161
GIDDYUP
September 23, 2009 09:15 AM Eastern Daylight Time
New Energy to Build Commercial Scale MotionPower™ System for Generating Electricity from Motion of Heavy Trucks
BURTONSVILLE, Md.--(BUSINESS WIRE)--New Energy Technologies, Inc. (Symbol: NENE), a next-generation alternative and renewable energy developer, today announced that successful prototyping and testing of its MotionPower™ technology for generating electricity from the movement of heavy trucks and long-haul vehicles has prompted immediate development of a full-scale system suitable for field testing, and ultimately, commercial deployment.
The Company’s MotionPower™-‘Heavy’ system for heavy vehicles has been engineered to generate electricity while addressing utility demands and commercial considerations unique to large vehicles, including minimizing payload disruption, ensuring passenger comfort, and making special allowances for integration of the system at commercial trucking sites such as ports, weigh scales, border crossings, and central distribution sites.
Heavy-duty trucks have up to 25 times more kinetic energy than a typical car traveling at the same speed. New Energy engineers have developed the MotionPower™-Heavy technology as a fluid-based system, uniquely capable of drawing significant amounts of energy from a single vehicle without jarring its payload or creating passenger discomfort. The efficient transfer of energy from heavy vehicles to the MotionPower™-Heavy system ensures greater electricity production and easier device adoption.
The Company’s new MotionPower™-Heavy technology for generating electricity from the motion of heavy vehicles and big rigs is being developed alongside New Energy’s MotionPower™-‘Auto’ system for cars and light trucks, recently tested for durability during the Labor Day long weekend at Burger King® in Hillside, NJ.
“A few days ago, we announced that testing of our MotionPower™-Auto system for cars and light trucks has enabled engineers to make significant enhancements to that system, including the ability to increase power output and durability while lowering maintenance costs and size,” explained Mr. Meetesh V. Patel, Esq., President and CEO of New Energy Technologies, Inc.
“Today, I’m proud to announce that prototype test results of our MotionPower™-Heavy technology for generating electricity from the motion of heavy trucks and long haul vehicles have similarly produced encouraging outcomes. As a result, engineers have immediately begun development of a field-ready, full-scale MotionPower™ system for heavy trucks, designed to fully exploit the tremendous kinetic energy of moving big rigs.”
New Energy’s full scale MotionPower™ system capable of generating electricity from heavy trucks will be highly-scalable, have a low part count, and will feature smooth energy capture with minimal payload disruption.
Engineers anticipate retaining the overall architecture validated in ongoing tests of the small-scale prototype, while incorporating additional engineering appropriate for high loads, repeated load cycles, and extended outdoor exposure – all important considerations for field-deployment of the full-scale MotionPower™ system for heavy trucks.
Click here to view a video of a small scale first-generation prototype of New Energy’s MotionPower™ Heavy Vehicle Energy Harvesting System: http://www.newenergytechnologiesinc.com/motionpowerheavyvehicleprototype.html
About New Energy Technologies, Inc.
New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Company’s technologies under development are:
•MotionPower™ roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles. An estimated 250 million registered vehicles drive more than 6 billion miles on America’s roadways, every day; and
•SolarWindow™ technologies which enable transparent glass windows to generate electricity by coating their glass surfaces with the world’s smallest known solar cells. These solar coatings are less than 1/10th the thickness of ‘thin’ films and make use of the world’s smallest functional solar cells, shown to successfully produce electricity in a recently published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.
Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.newenergytechnologiesinc.com.
To receive future press releases via email, please visit: http://www.newenergytechnologiesinc.com/alert.html
To view the full HTML text of this release, please visit: http://www.newenergytechnologiesinc.com/NENE20090923.html
For media inquiries please contact Mr. Jerry Schranz at 201-465-8020, or visit our Media Relations page for additional contact information: http://www.newenergytechnologiesinc.com/media_relations.html
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090923005187&newsLang=en
VIASPACE CEO Tours DP CleanTech Biomass Power Plant in China
Confirms Prior Usage Estimate and Yield Advantage of Giant King Grass; Sees Additional Cost and Environmental Benefits
IRVINE, Calif. and BEIJING, Sept. 22 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin Board: VSPC), a clean energy company growing Giant King Grass in China as a renewable, low-carbon energy crop, announced that CEO Dr. Carl Kukkonen toured a working DP CleanTech 30-MW (megawatt) power plant, which could be powered entirely with 175,000 metric tons of VIASPACE's Giant King Grass per year. At the current market price in China, the demand for Giant King Grass by just one such 30-MW power plant would provide about $6.3 million in additional annual revenue to VIASPACE.
Kukkonen visited the 30-MW Wangkiu biomass electricity generating power plant built and operated by Beijing-based DP CleanTech Company Limited. The Wangkiu plant, located near Harbin, currently uses corn straw as fuel for generating electric power. This corn straw is agricultural waste from corn crops within a 50 kilometer radius of their power plant, with approximately four tons of corn straw available from each acre of corn.
In comparison, Giant King Grass, yields more than 10 times the tonnage per acre, and, co-located as a dedicated energy crop, transport distances could be reduced by a factor of 10, thereby reducing transportation costs and related carbon emissions. And based on an earlier independent analysis, Giant King Grass is nearly identical to corn straw and therefore suitable for burning in DP CleanTech power plants.
DP CleanTech is a world leader in the design and construction of biomass power plants and the largest biomass electric power provider in China. DP CleanTech has built, owns and operates 19 biomass power plants that have a combined power-generating capacity of more than 400 MW.
In early September, VIASPACE and DP CleanTech signed a memorandum of understanding that involves the parties working toward a long-term contract under which VIASPACE would, over a period of years, supply substantially increasing tonnage of Giant King Grass to DP CleanTech. Also under the MOU, by the end of 2009 VIASPACE will carry out a test firing of Giant King Grass in one of DP CleanTech's existing power plants.
About VIASPACE Inc.: VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and high-risk-pollutant energy sources. The Company provides raw material for cellulosic biofuels and develops and markets fuel cell cartridges, products and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns a portfolio of fuel cell patents licensed from Pasadena-based California Institute of Technology (Caltech), which manages NASA's Jet Propulsion Laboratory, where the direct methanol fuel cell was invented. For more information, please see www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
About DP CleanTech Limited.: DP CleanTech is a world leader in providing biomass power plant solutions in the rapidly growing global renewable energy industry. With centers of expertise in both Europe and China, DP CleanTech is a truly global business. The unique technology originated in Denmark has been constantly optimized and is now manufactured in multiple locations in Europe and China. DP CleanTech provides design, and engineering, procurement, & construction (EPC) services to deliver turnkey biomass power plants with 19 dedicated biomass power plants in operation.
Safe Harbor Statement: Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2008, as well as general economic and business conditions; the ability to acquire and develop specific products and technologies; changes in consumer and business demand for the Company's products; competition from larger companies; changes in demand for alternative and clean energy; risks associated with international transactions; risks related to technological change; and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/09-22-2009/0005098343&EDATE=
Hi Rainman, just came across this one today, gotta do a little research before I can form an investment opinion but the concept is certainly interesting. I could see a pretty fast uptake by private business if there is a good ROI on the initial investment. Not sure about public infrastructure acceptance. Can you point me to any resources that would give me a better feel of just how much electricity could be generated by the device? I would be very curious to know how much on grid energy could be displaced for the local Burger King for example? TIA
September 21, 2009 09:15 AM Eastern Daylight Time
New Energy Engineers Significantly Advance MotionPower™ Technology for Generating Electricity from Moving Cars
Tests of Company’s MotionPower™ technology produce important design advancements, including capacity to increase electrical power, greater durability, lower maintenance costs, and reduced size.
BURTONSVILLE, Md.--(BUSINESS WIRE)--New Energy Technologies, Inc. (Symbol: NENE), a next-generation alternative and renewable energy developer, today announced that early durability tests of the Company’s MotionPower™ device for generating electricity from the movement of cars and light trucks have produced significant design and performance advancements – developments that are key to future commercial deployment of the technology.
Today’s announcement follows on the heels of the successful completion of first-ever durability tests of the MotionPower™ technology conducted during the busy Labor Day long weekend at a Burger King® drive-thru in Hillside, NJ. Data collected and analyzed from these tests have produced important advancements to the MotionPower™ technology, including a reduction in size and maintenance costs, while increasing the system’s capacity to produce electrical power.
“Our first prototype was tested at speeds below 5 mph and each car passing over the MotionPower™ device depressed a mechanical actuator, generating approximately 2,000 Watts of input power. This power was instantly captured and then converted into electricity. New Energy’s next generation MotionPower™ system will extend the input power cycle for a longer period of time; the longer we can extend this input power cycle the more electricity the system will generate,” explained Engineer, Mr. Gerard J. Lynch, P.E. “We’re also keen to incorporate advancements related to maintenance costs, durability, size, and driver comfort – all very important to the final product.”
Among specific advancements to the Company’s next generation MotionPower™ technology for generating electricity from the motion of cars and light trucks, are:
•Increasing the amount of electricity generated from each pass of a vehicle by making use of multiple input power mechanisms, and a novel storage system which will help to better utilize the power of each wheel’s weight, capture it and retain it for conversion to electrical energy;
•Improving durability of the system through design modifications and materials selection;
•New design features, mimicking the appearance and feel of a conventional speed bump/hump;
•Reducing the length of the system to 12” from 12’ by eliminating the existing elevated ramp structures;
•Minimizing the vertical height of the system in order to calm potential driver disruption; and reduce the rolling resistance of the device; and
•Repositioning moving parts into a single housing unit, allowing for quicker, easier, and lower-cost maintenance.
New Energy’s MotionPower™ technology is designed to be installed in locations where vehicles are not ‘robbed’ of energy they would otherwise use to accelerate. Instead, MotionPower™ devices convert the vehicles’ excess kinetic rolling energy not used or effectively captured (in regenerative braking systems), and creatively converts that energy into a novel alternative energy source.
Every day, millions of vehicles slow or come to a stop at toll plazas, rest areas, traffic calming areas, drive-thrus, and countless other roadway points. New Energy hopes to utilize its MotionPower™ devices make use of the energy wasted by these millions of cars, trucks, and heavy vehicles when they slow down or come to a full stop countless times throughout the day, and convert this otherwise wasted energy into valuable, clean electricity.
Once fully optimized and installed, engineers anticipate that MotionPower™ devices may be used to augment or replace conventional electrical supplies for powering roadway signs, street and building lights, storage systems for back-up and emergency power, and other electronics, appliances, and even devices used in homes and businesses such as the commercial sites participating in New Energy’s durability tests.
“Our recent field tests of the MotionPower™ device have provided us with much-needed data that engineers have analyzed in order to substantially improve upon the design, functionality and output capacity of our system,” stated Mr. Meetesh V. Patel, Esq., President and CEO of New Energy Technologies, Inc.
“I’m eager to complete this phase of our durability tests at commercial sites such as the Four Seasons Hotel in Washington, DC and the Holiday Inn® Express, Baltimore, MD. Each test yields the data and real-world feedback we need in order to help engineers continue to refine our MotionPower™ technology for maximum performance and eventual commercial deployment.”
About New Energy Technologies, Inc.
New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Company’s technologies under development are:
•MotionPower™ roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles. An estimated 250 million registered vehicles drive more than 6 billion miles on America’s roadways, every day; and
•SolarWindow™ technologies which enable transparent glass windows to generate electricity by coating their glass surfaces with the world’s smallest known solar cells. These solar coatings are less than 1/10th the thickness of ‘thin’ films and make use of the world’s smallest functional solar cells, shown to successfully produce electricity in a recently published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.
Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.newenergytechnologiesinc.com.
To receive future press releases via email, please visit: http://www.newenergytechnologiesinc.com/alert.html
To view the full HTML text of this release, please visit: http://www.newenergytechnologiesinc.com/NENE20090921.html
For media inquiries please contact Mr. Jerry Schranz at 201-465-8020, or visit our Media Relations page for additional contact information: http://www.newenergytechnologiesinc.com/media_relations.html
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090921005246&newsLang=en
You are correct, its a new application for a new patent, and there are two of them that I can find. One is not yet published so you cannot research the claims. You can use the following link to research the applications. PDF documents are available under the Image File Wrapper tab. (public pair) Type in the application number once you get past the filters.
http://portal.uspto.gov/external/portal/home
Correction to my prior post, the Iris recognition patent application was filed in 2003 and the patent was issued in 2007. Here's the abstract for the new application also.
What's goin on Klon? good to see you again.
Not only are they real they are being refined and enhanced currently check out this USPTO application filed in late 2007. This application is a continuation and relates to enhancements of the Iris recognition technology originally patented in the US in 2003 and Korea in 2001.
There is another application filed in late 2007, which has not yet been published, as a continuation of the Daubechies wavelet patent.
Here's a partial answer to your questions as it relates to patent assignments. Someone else might be able to help with the Korean connection. I also find at least two additional pending applications associated with these patents.
That big block trade went off at .002 and I believe the ask was at .004 and the bid was at .0037 at the time. Who among us gets to buy shares at 40-50 percent below the bid? Total value of the trade was 154k.
77 million share block transaction at 50% of the ask scenario:
Let's say for example that you are a hedge fund and you are trying to make back the maximum return on your risky investment.
You convert cheap shares and sell all you can (400 mil or so) into a market rally driven by a favorable USPTO ruling.
The rally begins to fade because of your relentless dumping of new shares into the float, so lets say you decide instead of continuing to dump shares that it's now time to start shorting your favorite stock.
Let's say for example that you start shorting at $.03/share and now you continue your relentless shorting until you've driven the price from .03 to lets say .0045 for a total decline of 85% and perhaps an average decline of 50% (guess).
Now a 50% ($.015) gain on 75Million shorted shares would net you a cool $1.125Mil in profit.
Now, let's say for example that you know it's time to cover your shorts because something in the wind is telling you that big news is soon forthcoming that may present another opportunity to sell into the next rally.
Time to call up your MM buds and make them an offer they can't refuse. "Hey guys we need to cover our 75Mil short position and we need to do it quick". "Since the current market is running around .004 how bout we set you guys up with 75 mil at $.02"? "Sure, we gotta convert a few Series C at .0043 to make it happen, but if you will take them off our hands at $.02 you stand to make out big just like us (wink wink)" "Now we're gonna lose about $175K by converting at .0043 and letting you guys have them for .02 but since we already raked in 1.125 mil by shorting the hell out of this stock we'll be ok and what's a couple hundred grand amongst friends". Only folks that are gonna get F_____d! here are the stupid longs" "We sure hope they don't figure us out someday and stop playin along" " Anyway thanks a bunch we'll see YA'll on the next cycle. Good luck with them cheapies"
The previous short story could just be a figment of my imagination and is all IMO of course but I did start buying as soon as I seen it hit the tape. GLTA
Better have a 49% stake in GS or its gonna get ugly for Phantom Entertainment (as if it isn't already). I am only gonna sit on my dead money for so long. Silence will not make me go away. It's been almost 90 days and Mr. Landino doesn't seem to find it necessary to inform shareholders of his plan. Time for a new leader?
Spare me your misery and 800k shares bag holder, I hold 15 million plus.
*************************************************************
Nathaniel Just curious, but did that stake in streamserv from the original sale of phantom's assets become a stake in gamestreamer, or is that gone? Also, will we see the game store deployed by years end?
September 2 at 11:02amPhantom EntertainmentHi Nathan,
We have a very small stake in GameStreamer but right now its not worth anything, hopefully this will change. We have no real operational info from GS other than what is public. Our current focus is on our product launch, the Lapboard, and at some point we will look at the Game Store activation.
September 2 at 11:09am
http://www.facebook.com/pages/Phantom-Entertainment/191960780701?ref=mf
A service-disabled veteran must control and operate the company or the company must be controlled and operated by the spouse or permanent caregiver of a service-disabled veteran.
Your company should strongly consider applying for certification if it meets the qualifications for a service-disabled veteran-owned business. In doing so, you will have significantly increased your likelihood for winning federal business. Not only should your company be calling on federal customers on its own, it should also consider establishing a formal or informal partnership with one or more prime contractors. The prime contractors need your company to assist them in becoming more dominant. The prime contractors will be more than happy to work with your business if you have already lined up a sales opportunity or if their current stable of SDV’s is not large enough. Although developing federal business is a long and arduous process, those who take advantage of the programs the federal government offers to small businesses will reap the rewards in long run.
http://www.fedmarket.com/articles/another-contracting-vehicle.shtml
Rodman and Renshaw presentation, well worth the listen.
http://wsw.com/webcast/rrshq15/mkty.pk/
If you dont mind, were you able to place online orders with your broker? I tried to buy through Scottrade and was unable to do so and was advised to contact my local branch. TIA
Calvin B. Harley to Retire as Chief Scientific Officer of Geron
Geron Corporation (Nasdaq:GERN) today announced that Calvin B. Harley, Ph.D., the company’s chief scientific officer (CSO) for telomerase technologies, will retire on September 15, 2009. Dr. Harley joined Geron in 1993 and served as CSO since 1996. Dr. Harley will continue a relationship with Geron in an advisory capacity.
“Cal’s numerous contributions to the company and the field have enabled Geron to advance the biology of telomeres and telomerase into drug discovery and development programs and into clinical trials,” said Dr. Thomas B. Okarma, Geron’s president and chief executive officer. “It has been a privilege and a pleasure to work with Cal over the years, and I am very pleased that he will continue to contribute to Geron as a consultant.”
“I joined Geron to progress what was then the emerging field of telomere and telomerase biology towards clinical application in age-related diseases and cancer. During my 16 years at Geron, I am fortunate to have been able to do that,” said Dr. Harley. “I have decided that now is the time to retire from my full-time position, but I am delighted to continue my involvement with the company in an advisory capacity.”
Dr. Harley is a pioneer of telomere and telomerase biology. He was, along with academic collaborators and the team of scientists he led at Geron, instrumental in discovering, from observation to experimental proof, the link between telomere loss, human cell aging, and chronic disease and the key dynamic relationships between telomere biology and cancer.
Geron’s pipeline of telomerase-based anti-cancer therapies includes the first telomerase inhibitor drug (imetelstat sodium - GRN163L) in clinical development, currently in six Phase I and Phase I/II clinical trials in different types of cancers, and a therapeutic vaccine targeting telomerase (GRNVAC1), currently in a Phase II clinical trial in acute myelogenous leukemia. The company is also researching small molecule compounds that transiently activate telomerase in senescent cells to restore cell function for the treatment of chronic degenerative diseases. Geron’s intellectual property portfolio includes over 400 patents and patent applications related to telomerase worldwide.
About Geron
Geron is developing first-in-class biopharmaceuticals for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure and diabetes. The company is advancing an anti-cancer drug and a cancer vaccine that target the enzyme telomerase through multiple clinical trials in different cancers. For more information, visit www.geron.com.
http://ih.advfn.com/p.php?pid=nmona&cb=1252502569&article=39373958&symbol=N%5EGERN
MTI Micro Files Its 110th Patent Application and Demonstrates 5500 Hours of Operation
MTI MicroFuel Cells Inc. (“MTI Micro”), the developer of Mobion® off-the-grid portable power solutions and a subsidiary of Mechanical Technology, Incorporated (“MTI”) (MKTY), today announced that it has achieved 5,500 hours of continuous operation with a Mobion® laboratory cell – the building block of the Company’s Mobion® chip and systems.
According to industry standards, the average power degradation in a typical lithium ion battery is as high as 50% after only 500 charging cycles. Mobion fuel cell technology achieved over 5500 hours of operation with only 30% degradation. When implemented in a Mobion charger, these cells could recharge an average cellular phone battery 2000 cycles.
In addition to the ongoing power performance improvements, MTI Micro filed its 110th patent application with the United States Patent Trademark Office and has developed a significant intellectual property portfolio in strategic areas of development and has solved fundamental hurdles key to the commercialization of DMFCs including:
Miniaturization:
The company has been granted 49 of those patents including the allowance from the US Patent and Trademark Office for key patent applications upon which work continues relating to the design and development of the Mobion® chip – the Direct Feed of Concentrated Fuel Under Passive Water Management and the Simplified Direct Oxidation Fuel Cell System. These key patents along with others pending make it possible to operate the chips without the need for fuel recirculation or water retrieval and pumping – two issues that have always complicated the development of DMFCs and made it difficult to reduce its size.
Operational Life:
MTI Micro recently filed a patent to increase the useful life of the fuel cell by improving the efficiency of the Mobion Chip, and the optimization of the fuel delivery system. In an industry report published by the Journal of Power Sources, tests conducted on other direct methanol micro fuel cells show degradation of up to 35% after only 360 hours of operation. In contrast, MTI Micro’s results prove operation of up to 5500 hours with less degradation.
Efficiency:
The Company has filed patent applications on a fuel delivery system that increases the amount of energy that can be extracted from methanol. In addition, the system uses a unique and efficient method to push methanol into the cell using about 1/100 of the energy that a normal pump would use and is much smaller so size reductions and performance gains can be realized.
Environmental Range of Use:
MTI Micro’s patent applications also include a method that allows its fuel cells to operate in similar temperature and humidity conditions specified for consumer electronics products which solves a key issue faced by all other micro fuel cell companies.
Cartridge design and standard inter-connect system:
MTI Micro has also filed patents with new orientation independent cartridge designs and a proprietary cartridge-to-fuel cell standard interface which connects both fuel cell and cartridge with a safe and elegant engineering design.
MTI Micro has been granted 49 applications and has also filed 25 international patent applications in a number of different countries including Japan, China, and Korea.
“Our test results are a clear indication of the technical breakthrough we have made on performance metrics including life, degradation, temperature and humidity operation, and other important metrics required to bring products to market in the consumer electronics industry,” said Jim Prueitt, Vice President of Engineering and Operations at MTI Micro. “With these results and the breath and depth of our patent portfolio, we believe we continue to be a leader in the micro fuel cell industry as we move forward in our product development process.”
This announcement follows the U.S. DOT decision that now permits passenger and crew to carry methanol fuel cell cartridges and fuel cell systems designed for portable electronic devices on board airplanes in carry-on baggage since October of 2008. This DOT approval is in line with MTI Micro’s plans to launch a product by the end of 2009 and pursue the consumer market with target applications which include hand-held communication, and other power-hungry portable electronic devices that can benefit from Mobion® extended run-time, cord-free rechargeable power packs with continuous access to power anytime, anywhere.
“As more consumer electronic companies choose DMFC solutions and the micro fuel cell industry moves towards commercialization of this technology, we believe our pioneering and potentially blocking patent work will become extremely valuable and provide a significant competitive advantage for MTI Micro,” said Peng Lim, Chairman and CEO of MTI. “We believe that our micro fuel cell technology will make a significant impact on the mobile power industry in consumer electronics.
http://finance.bnet.com/bnet/?GUID=7267458&Page=MEDIAVIEWER
News Releases
MTI TO PRESENT AT RODMAN AND RENSHAW GLOBAL INVESTMENT CONFERENCE
Albany, N.Y., September 2, 2009 — MTI MicroFuel Cells Inc. (MTI Micro), developer of the Mobion® off-the-grid mobile power source and a subsidiary of Mechanical Technology, Incorporated (MTI) (OTC: MKTY), is scheduled to present at the 2009 Rodman & Renshaw Annual Global Investment Conference to be held on September 9-11, 2009.
Chairman of the Board and CEO of MTI, Peng Lim will present at the New York Palace Hotel in New York City on Wednesday, September 09, 2009 at 11:40 a.m. The presentation will also be available via webcast from the Rodman & Renshaw conference webcast site: http://wsw.com/webcast/rrshq15/mkty.pk/
About Mechanical Technology
Mechanical Technology (OTC: MKTY) is primarily engaged in the development and commercialization of Mobion® off-the-grid portable "green" power solutions, through its subsidiary MTI MicroFuel Cells Inc. (MTI Micro). MTI Micro has developed a flexible fuel cell architecture that is suited for various consumer, industrial, and military applications and is protected by a significant intellectual property portfolio related to micro fuel cell technology. MTI Micro has received government funding and developed strategic partnerships to facilitate efforts to achieve commercialization. MTI is also engaged in the design, manufacture, and sale of high-performance test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. For more information, please visit www.mechtech.com.
http://www.mtimicrofuelcells.com/news/article.asp?id=362
Management
MTI Micro has assembled a world-class executive management team to capitalize on its more than 10 years of involvement in the fuel cell industry, guide its evolution and execute its micro fuel cell product commercialization strategy. The current management’s base of knowledge and experience spans a diverse range, reaching from preeminent scientific discovery to rapid production scale-up to successful product launches. MTI Micro’s leadership includes not only prominent scientists credited with pioneering work in fuel cell development, but also nationally recognized business and government figures.
Peng K. Lim
Chairman of the Board and Chief Executive Officer
Mr. Lim, the Chairman of the Board for MTI and MTI Micro since May 2008 has been the President and Chief Executive Officer of MTI Micro since May 8, 2006 and the Chief Executive Officer of MTI effective December 1, 2006. Prior to MTI Micro, Mr. Lim served as the President and CEO of Tapwave, Inc., a company he founded. He was behind the development of the Zodiac, a portable electronic multimedia device that won multiple awards including, "Best Gear" by Time Magazine in 2003. Before Tapwave, Mr. Lim served as Vice President, Worldwide Product Development for Palm Computing where he was responsible for directing the entire life cycle of product development and engineering for Palm handheld products, operating system and application software. While at Palm, he helped capture 75% worldwide handheld operating system and 65% PDA market shares and quadrupled annual revenues to greater than $1.5 billion. Mr. Lim was also part of the executive team that led Palm to a successful IPO in 2000. AsVP of Engineering at Fujitsu Personal Systems, Mr. Lim introduced industry-leading pen-based and wireless computers that captured a 56% market share. Prior to his tenure at Fujitsu, Mr. Lim served as Engineering Platform Director at Texas Instruments and as Director of Advanced Portable Engineering at Zenith Data Systems. In both positions he introduced important innovations in state-of-the-art portable computers. Mr. Lim serves as a member of the Board of Directors for Novatel Wireless, a leading 3G wireless solutions company since 2001 and Board of Advisors for Inventec Appliances, a multibillion dollars ODM company since 2006. He holds a B.S. and a M.S. in Electrical Engineering from University of Windsor (Ontario, Canada) and a Master of Engineering Management from Northwestern University. Mr. Lim is an alumnus of the Stanford Executive Program for Growing Companies at Stanford University.
Jim Prueitt
Vice President of Engineering and Operations
Since joining MTI Micro in April of 2006, Mr. Prueitt has led the system design for the Company’s consumer direct methanol fuel cell technology platform. Effective November 5, 2007, Mr. Prueitt was appointed Vice President of Engineering and Operations where he will manage research and development, purchasing, quality, operations, and program management to drive all platforms toward commercialization. Prior to MTI Micro, Mr. Prueitt was Divisional Vice President of Hardware and Software R&D at Polaroid Corporation, where he introduced diverse new technologies and helped launch a number of products in media, hardware, digital cameras and digital printers. Mr. Prueitt spent over 20 years at Polaroid leading the design, development and delivery of multiple consumer products which resulted in over $1B in operating revenue. Mr. Prueitt also led, directed and managed operations for Polaroid’s Instant Digital Printing (IDP) division, which comprised of a group of 250 of Polaroid’s best R&D, operations, and business members to create a high-volume, new digital imaging and printing business unit. As a senior leader of the division, he led all operations, source selection, supply chain, service and program management efforts.
Mr. Prueitt has commercialized over 20 different consumer products and has shipped over 10 millions production units in his career, holds two published, pending patent applications for inventions related to digital printing, and is a Six Sigma Champion. He also holds a Masters in Business Administration from the University of West Florida, and a Masters of Science in Mechanical Engineering from the University of Kentucky.
http://www.mtimicrofuelcells.com/company/management.asp
Partners
MTI Micro has and will continue to develop relationships and partnerships with key players in industry in an effort to fully leverage target market opportunities. To date, the Company benefits from arrangements with the following global companies and organizations:
Samsung Electronics Co., Ltd
Continuing collaboration
MTI Micro will prepare Mobion® MFC products for mobile phone applications leading to commercialization in 2009. MTI Micro will continue to refine the Mobion® baseline product design up until its projected December 2008 design freeze. MTI Micro will also share development updates with Samsung and loan them prototypes for evaluation. Samsung may also request changes to product specifications until December of 2008 and may purchase commercial DMFC samples as soon as they are available.
The Methanol Institute:
Non-profit education and scientific organization dedicated to the use of methanol as a clean energy source
Works with MTI Micro to develop codes and standards and address regulatory issues
DuPont:
Joint development agreement to optimize membrane electrode assemblies (MEA) for MTI Micro cell applications
Preferred supply agreement
Non-exclusive
Minority interest in MTI Micro
Gillette / Duracell:
Gillette/Duracell develops, manufactures, and distributes fuel refills through retail outlets and MTI Micro develops fuel cell
Marketing development
Royalties for cartridges sold by Gillette
Minority interest in MTI Micro
Flextronics:
Contract Manufacturing Agreement for MTI Micro’s DMFC products
http://www.mtimicrofuelcells.com/company/partners.asp
Overview
We are developing and commercializing off-the-grid rechargeable power sources for portable electronics. We have developed a patented, proprietary direct methanol fuel cell technology platform called Mobion, which generates electrical power using up to 100% methanol as fuel. Our proprietary fuel cell power solution consists of two primary components integrated in an easily manufactured device: the direct methanol fuel cell power engine, which we refer to as our Mobion Chip, and methanol replacement cartridges. Our Mobion Chip weighs less than one ounce and is small enough to fit in the palm of one’s hand. The methanol used by the technology is fully biodegradable. We believe we are the only micro fuel cell developer to have demonstrated power density of over 62 mW/cm2 while producing more than 1,800 Wh/kg of energy from the direct methanol fuel feed. For these reasons, we believe our technology offers a compelling alternative to current lithium-ion and similar rechargeable battery systems currently used by original equipment manufacturers and branded partners, or OEMs, in many handheld electronic devices, such as mobile phones (including smart phones) and mobile phone accessories, digital cameras, portable media players, personal digital assistants (PDAs), and global positioning systems (GPS) devices. We believe our platform will facilitate the development of numerous product advantages, including small size, environmental friendliness, and simplicity of design, all critical for commercialization in the consumer market, and can be implemented as three different product options: a compact external charging device, a snap-on or attached power accessory, or a lithium-ion battery replacement embedded fuel cell power solution. We have strategic arrangements with Samsung Electronics, an OEM of mobile phone accessories, with a global Japanese consumer electronics company, with a U.S. based developer and marketer of universal chargers, with a power tool manufacturer, with Trident Systems, a defense contractor, and with Neosolar, a South Korean electronics company. We also have a letter of intent with Duracell, part of the Procter & Gamble Company. Our goal is to become a leading provider of portable power for handheld electronic devices and, assuming available financing, we intend to commercialize Mobion products in late 2009 or early 2010.
Our Mobion technology eliminates the need for active water recirculation pumps or the inclusion of water as a fuel dilutant. The water required for the electrochemical process is transferred internally within the Mobion Chip from the site of water generation on the air-side of the cell. This internal flow of water takes place without the need for any pumps, complicated re-circulation loops or other micro-plumbing tools. Our Mobion technology is protected by a patent portfolio that includes over 110 U.S. patent applications covering five key technologies and manufacturing areas.
http://www.sec.gov/Archives/edgar/data/64463/000120677409001557/mti_10q.htm
Anyone watching MKTY these days?
PolyFuel, Would-Be Notebook Fuel Cell Maker, Closes Shop
The Mountain View, Calif.-based fuel cell developer had made prototype methanol fuel cells for notebook computers and other devices, and landed a $2.5 million DOE grant in April. But that wasn’t enough to keep it afloat.
.There's a long road between dreaming up a fuel cell for portable electronic devices and making money on the idea. Just ask PolyFuel.
The Mountain View, Calif.-based startup said Thursday that it's going out of business and seeking a buyer of its assets after finding itself "unable to secure a satisfactory offer for the Company on a going concern basis," according to a company news release.
It's a quiet end for a company that sprung out of research house SRI International with plans to revolutionize the consumer electronics fuel cell market with its direct methanol fuel cell membrane.
Armed with more than $40 million in venture capital money from investors including Technology Partners and Intel Capital, the company went public on London's Alternative Investment Market (AIM) exchange in 2005.
It also raised about $5.5 million in federal funding over the years, most recently in April with $2.5 million in Department of Energy stimulus funds (see Green Light post). It announced a prototype of a rechargeable fuel cell, using replaceable cartridges of methanol, for a Lenovo ThinkPad notebook back in June 2008 (via CNET).
Direct methanol fuel cells convert methanol to water and carbon dioxide as they generate electricity, which is different than hydrogen fuel cells, which yield only electricity and water.
That's what makes hydrogen fuel cells appealing as replacements for internal combustion engines. But much-touted plans for hydrogen-fueled vehicles have languished amidst steep technical and logistical challenges (see Congress Looks to Restore Vehicle Fuel Cell Research Funding).
Methanol fuel cells, on the other hand, offer the promise of a cheap and easily stored fuel, making refueling a commercially viable option, at least in theory. Several startups are working on similar concepts.
PolyFuel isn't the only one of them facing tough times, however. MTI MicroFuel Cells has struggled as its parent company, Mechanical Technology Inc., was delisted from Nasdaq earlier this year and, as of mid-May, had spent about $3.1 million of $3.5 million in bridge loans it had secured. Toshiba has for several years touted DMFCs for TVs and other devices but the prototypes have yet to hit store shelves.
MTI also received a DOE grant for $2.4 million in April, by the way, indicating the important role that government has played in fuel cell development.
Many developers of portable fuel cells have relied on government contracts, often with the military, to keep themselves busy. Fuel cells for providing power to soldiers in the field or unmanned aerial drones could cost more than those that would seek to replace cheap and ubiquitous batteries for consumer electronics, after all (see Uncle Sam Wants Portable Fuel Cells).
Other fuel cell developers have found a market in forklifts or other non-road vehicles, which don't drive far from the warehouses or yards where they can be refueled (see Plug Power Puts Fuel Cells in Forklifts).
But fuel cell makers targeting the consumer electronics industry have been promising, and then failing to meet, self-imposed timelines for years now. Take Toshiba, which said in January it plans to release a methanol-based fuel cell battery charger by the end of March, only to see the month past without a product launch. Toshiba now says it will deliver the fuel cell battery charger in the next two months.
Still, the potential for a cost-effective portable fuel cell keeps investors coming. Lilliputian Systems Inc. landed $28 million in DATE from investors including Stata Venture Partners, Altira Group, Kleiner Perkins Caufield Byers, Atlas Venture, Fairhaven Capital and Rockport Capital (see Green Light post).
Medis Technologies in February released a fuel cell to power cell phones, flashlights and other small electronics, but it can't be refueled and costs $35 to $50 for 40 hours of power. Medis hopes to bring a refuelable cell to market in the next 12 to 18 months.
http://www.greentechmedia.com/articles/read/polyfuel-would-be-notebook-fuel-cell-maker-closes-shop/
And the filings quite clearly show that dividends are being accrued.
Year Ended December 31,
2008 2007
Supplemental cash flow information:
Interest paid during the period 35 638
Unrealized gain (loss) on marketable securities - (195 )
Fair value of shares issued to satisfy purchase price guarantee obligations - 12,721
Fair value of shares issued to satisfy debt guarantee obligation - 700
Deemed dividend on Series C Convertible Preferred Stock 1,721 1,696
Series C Convertible Preferred Stock converted to common stock 3,647 2,547
http://www.sec.gov/Archives/edgar/data/1022701/000114420409020478/v145996_10k.htm
For the six months ended
June 30,
2009 2008
Supplemental cash flow information:
Interest paid during the period $ 3 $ 14
Accretion of dividends on Series C Convertible Preferred Stock 743 798
Series C Convertible Preferred Stock converted to common stock 720 423
Deemed dividend on preferred stock conversions 1,337 631
Fair value of common shares issued to satisfy purchase price guarantee obligations 445 12,721
http://ih.advfn.com/p.php?pid=nmona&cb=1251919474&article=39059860&symbol=NB%5ENEOM
Are they allowing conversion below par by reducing the dividends due to YA?
There is a lot more law on the declaration of dividends than one section in an agreement
My point is : I don't care about your interpretation of the law! I'm a whole lot more interested in what is happening than what you think should happen.
Last time I checked, 8% of $20 million was 1.6 Mil/yr. How do you explain the discrepancy between that figure and the dividend numbers that arpvrp just provided?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41122666
SECTION 2
DIVIDEND RIGHTS
2.1. Dividends or Distributions. The Holders of Series C Preferred Shares
shall be entitled to receive dividends or distributions on a pro rata basis
according to their holdings of shares of Series C Preferred Shares when and if
declared by the Board of Directors of the Company in the amount of eight (8.0%)
percent per year. Dividends shall be paid in cash or shares of Common Stock
determined at the then current Conversion Price (provided such stock is
registered for resale by the Holder), as determined by the Comapny. Dividends
shall be cumulative. No cash dividends or distributions shall be declared or
paid or set apart for payment on the Common Stock in any calendar year unless
cash dividends or distributions on the Series C Preferred Stock for such
calendar year are likewise declared and paid or set apart for payment. No
declared and unpaid dividends shall bear or accrue interest.
http://www.sec.gov/Archives/edgar/data/1022701/000114420406007024/0001144204-06-007024.txt
Additional detail here: Looks like a NASDAQ listing will be forthcoming.
http://www.unilife.com/index.php?option=com_content&task=view&id=524&Itemid=76
If it doesn't happen prior to the CC we always have CTIA to look forward to.
International CTIA WIRELESS I.T. & Entertainment 2009
When: October 6: Partner Conferences & Seminars
October 7-9: Exhibit Floor, Keynotes, Sessions & Seminars
Where: San Diego Convention Center; San Diego, CA
http://www.ctia.org/conventions_events/index.cfm/AID/10169
Board mark added looks interesting.
Agreed, but they could now if they so choose, unless Claw is right and they have mended their ways after the hold harmless language. We will not know until the next Q I suppose.
Here's your cause of action then, no conversions below par since April 22 (no conversion rate formulas below .01 either) but if you look at all previous conversions you can deduct that 490,512,000 shares are in the current OS that were converted illegally below par value.
From the just released Q with a few of my calculations added.
What did we get of equal value for half a billion shares that should not be in the float? 490,512,000 shares at par value = $4,905,120.
Can anyone detail the update?
08/12/2009 New NeoReader version for iPhone 3G S
An updated version of the NeoReader application has been released for the new iPhone 3G S providing enhanced and superior barcode scanning performance.
The NeoReader for iPhone 3G S is now available for free download via Apple’s App Store, either over a cell network or using Wi-Fi. The application is also accessible via iTunes.
http://www.neoreader.com/news_single.html?&no_cache=1&tx_ttnews[tt_news]=9&tx_ttnews[backPid]=28&cHash=aecf65d35b
Thought I would weigh in with a question as it relates to the speculation that YA cannot convert below par value or $.01.
If they could not make those conversions why would they ever sign a convertible debenture financing agreement with fixed conversion features allowing for conversion at 80% of the vwa and a fixed conversion price of $.01? According to this chart, they can convert at anytime for .008
I'm not buying the theory that par is the minimum!
From the last 10Q
Unless they believed that whatever damages might be recovered would belong to them after the buyout.
I personally see it as a positive, the case is moving forward after a long delay. Scanbuy wanted the cases to be tried concurrently but NEOM prevailed. The proposed schedules were almost identical through the pre-trial phase. Next deadline August 14 (next Friday) It is obvious that no settlement was reached in the settlement conferences. Time to open up a case of whup ass - let's get it on!!
Sounds like NEOM is inferencing that the SB/Marshall patents may need to be subjected to reexamination. Two can play that game?
Neomedia trying to expedite Scanbuy trying to delay, Judge adopts Scanbuy schedule but keeps cases separate for trial at NEOM's request!
Docket text
U.S. District Court
United States District Court for the Southern District of New York (Foley Square - Suspense)
CIVIL DOCKET FOR CASE #: 2:04-cv-03026-RJH
08/05/2009 47 ENDORSED LETTER addressed to Judge Richard J. Holwell from Jeffrey A. Pine and John M. Hintz dated 7/22/2009 re: Scanbuy proposes the following schedule for the 2004 action, and Scanbuy and Marshall Feature Recognition propose the same schedule for the 2009 action, as set forth herein.. ENDORSEMENT: The Court adopts the proposal set forth by Scanbuy and Marshall Feature Recognition. The cases shall be consolidated for pre-trial discovery only. Next PTC set for 02/19/10 at 10:00 a.m. (Signed by Judge Richard J. Holwell on 8/3/2009) (jpo) (Entered: 08/05/2009)