Octillion to Develop New Technologies Capable of Generating Electricity from Moving Vehicles
Auburn Hills, MI – July 08, 2008 – Octillion Corp. (OTCBB: OCTL), a next-generation alternative and renewable energy technology incubator, today announced immediate expansion of the Company’s product development pipeline to include the development of safe, economically-viable technologies capable of producing clean electricity from the kinetic energy of moving vehicles, including cars, buses, trucks, trains, and rapid transit.
Last month, Octillion joined lead sponsors Ford Motor Company, Royal Dutch Shell, and the National Science Foundation to co-sponsor “New Mobility: The Emerging Transportation Economy,” an international conference at the University of Michigan (http://um-smart.org/resources/conference/overview.html). This event was hosted by the university’s “Sustainable Mobility and Accessibility Research and Transformation” (SMART) initiative. Octillion President and CEO, Mr. Nicholas S. Cucinelli, assisted in the founding of SMART and formerly assisted Ford Motor Company executives in contributing to the Sustainable Mobility Project of the World Business Council for Sustainable Development.
Octillion has formed a new wholly-owned subsidiary, Kinetic Power Corp., specifically focused on harnessing the kinetic energy of vehicles in motion and more broadly working to enhance the sustainability and energy efficiency of transportation infrastructures and systems.
“In the United States, nearly 70% of our electricity is generated by coal and natural gas, according to the U.S. Energy Information Administration,” stated Mr. Cucinelli. “The environmental impact and rising costs of these non-renewable fuels, along with the potential doubling of global electricity consumption in the coming years, clearly illustrate the urgent need for more creative, sustainable methods for generating electricity.”
“This new initiative marks an important expansion of the Company’s portfolio of electricity generating technologies, which includes development of the first-of-its kind transparent window capable of generating electricity.” Through the Company’s wholly-owned subsidiary, Sungen Energy, Inc., researchers are working to develop technologies with the potential to economically convert glass building facades and skylights into energy-generating resources while preserving the traditional viewscape and day lighting attributes valued by building occupants and architects.
“Our ongoing work in energy-generating solar windows and the impact of unprecedented oil prices have inspired us to see the built environment through a different lens,” explained Mr. Cucinelli. “In launching this new initiative, I look forward to capitalizing on the unique experiences of our Board, our management team, and our proximity to the region that put the world on wheels. Michigan engineers and scientists possess a wealth of untapped technological innovations for the transport sector, and I believe there is no better place to catalyze and inspire a new wave of mobility, accessibility, and energy innovation.”
SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.
Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.
Power and Financial Model Disclaimer
The company's Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.
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