Mr. Meetesh V. Patel, Esq. appointed President of Kinetic Power Corp. and to Board of Directors of Octillion Corp.
Auburn Hills, MI – September 22, 2008 – Octillion Corp. (Symbol: OCTL), a next-generation alternative and renewable energy technology incubator, today announced the appointment of Mr. Meetesh V. Patel, Esq. to the Company’s Board of Directors, and as the new President of Kinetic Power Corp., a recently formed wholly-owned subsidiary specifically focused on generating electricity from moving vehicles.
“More than a million rail cars and a quarter-billion vehicles move across America’s roadways and transportation infrastructure, discreetly generating enormous amounts of energy which remains commercially untapped,” explained Mr. Meetesh V. Patel, newly-appointed President of Kinetic Power. “The prospect of sustainably converting the motion and deceleration of these vehicles into usable electricity for commercial buildings, industrial applications and even to power residential homes, represents a significant opportunity that I very much look forward to commercially exploiting through our development of brand new, transformational, first-generation technologies.”
Prior to joining Kinetic Power, Mr. Patel founded and managed MVP Law Group, P.A., representing corporate clients, entrepreneurs, scientific and research organizations, hospitals, teaching institutions and others with matters ranging from planning, structuring, and early contract negotiations to the buying and selling of successful business ventures. Mr. Patel earned his Juris Doctor degree with honors from The American University’s Washington College of Law in 2000, and a Bachelor of Arts degree in Political Science with an emphasis in International Relations from the University of Maryland in 1997. Mr. Patel will spearhead Kinetic Power’s operations and oversee a team of engineers and scientists.
The launch of Kinetic Power Corp. marks an important expansion of Octillion’s product development pipeline to include the development of safe, economically-viable technologies capable of producing electricity from the kinetic energy of moving vehicles, including cars, buses, trucks, trains, and rapid transit.
The US Bureau of Transportation Statistics estimates that there are more than 1.3 million rail cars and nearly 251,000,000 registered vehicles in the United States, greater than any other nation in the world. America is also the world’s largest consumer of electricity, according to the U.S. Energy Information Administration, with nearly 70% of the nation’s electricity generated by coal and natural gas. 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 electrical power.
Earlier this year, 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.
SolarWindow Technologies, Inc. is a developer of next generation, transparent electricity-generating SolarWindow™ coatings.
SolarWindow™ coatings generate electricity on see-through glass and flexible plastics with colored tints popular to skyscraper glass. Unlike conventional systems, SolarWindow™ can be applied to all four sides of tall towers, generating electricity using natural and artificial light conditions and even shaded areas. SolarWindow™ uses organic materials, which are dissolved into liquid, ideal for low-cost high-output manufacturing; and is the subject of a patent pending technology.
The company’s Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations that 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 degree 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.
For additional information, please call Ms. Briana L. Erickson toll free at 1-800-213-0689 or visit: www.solarwindow.com.
To receive future press releases via email, please visit:
To view the full HTML text of this release, please visit:
For answers to frequently asked questions, please visit our FAQs page:
Social Media Disclaimer
Investors and others should note that we announce material financial information to our investors using SEC filings and press releases. We use our website and social media to communicate with our subscribers, shareholders and the public about the company, SolarWindowTM technology development, and other corporate matters that are in the public domain. At this time, the company will not post information on social media that could be deemed to be material information unless that information was distributed to public distribution channels first. We encourage investors, the media, and others interested in the company to review the information we post on the company’s website and the social media channels listed below:
* This list may be updated from time to time.
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although SolarWindow Technologies, Inc. (the “company” or “SolarWindow Technologies”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the company's products, technical problems with the company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that SolarWindow Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.