This is how Rossi is financing his E-cat
“I am assuming all the risks. No one is risking any money except me,” said the Italian engineer Andrea Rossi, the inventor and developer of the ‘energy catalyzer,’ possibly based on cold fusion.
(This is an original English version. Please leave Google translate to read it. Swedish version here. Italian translation here).
Not even Defkalion Green Technologies, the Greek company that is building a first, one-megawatt test installation in Athens, Greece, has so far contributed with investments.
“I get paid (by Defkalion) only when the installation is delivered and if it works. I do not want people to spend any money until I have started and tested my one-megawatt plant,” said Rossi.
So far he says he has invested 500,000 Euros in developing and building 100 reactors, of ten kilowatts each, that comprise the Athens plant. He also claims that more than a thousand reactors have been built and destroyed during the development.
According to Rossi, the capital used on the project derives from the sale of the Italian company Eon, which he founded in 2003. Eon sold electric generators ('gensets') fueled by biodiesel produced from organic waste – a process Rossi developed in the 1980s that formed the basis for his company Petroldragon.
His own version of Petroldragon’s rise and fall, which eventually led to prison sentences for Rossi, is that the activity became illegal because of a rule change in organic waste, at about the time the Camorra organizations began to focus on waste management (see http://ingandrearossi.net ).
According to Rossi, Eon was sold for about one million Euros.
Rossi says the 500,000-Euro investment to develop the E-cat was made through his American company Leonardo Corporation, which prior to the development of the energy catalyzer was a parallel activity to Eon.
From Leonardo Corporation Rossi is now paying the remaining 500,000 Euros to the Physics Department of Bologna University, following a new agreement under which the university will help Rossi with the continued development of the reactor and studies of its physical phenomena.
According to the agreement, the work is led by the physicist Giuseppe Levi, who was the main observer when the ‘energy catalyzer’ was demonstrated to invited scientists and media in Bologna in January 2011. Giuseppe Levi also carried out a longer test of the reactor in February, lasting 18 hours.
“The 500,000 Euros I am paying to the University of Bologna is my last money, but when I deliver the one-megawatt plant to Defkalion I get cash back. From then on, 50% will be used for expansion and 50% to treat children with cancer. I will personally look for the children whose families cannot afford their care,” said Andrea Rossi.
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Note. The ’energy catalyzer’ produces approximately 10 kilowatts of heat by an unknown reaction. The reactor of the device is loaded with nickel powder in the presence of secret catalysts, and pressurized with hydrogen. Here’s a scientific discussion with Professor Sven Kullander and Associate Professor Hanno Essén on the energy catalyzer.
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READ MORE: Our complete coverage on Rossi's E-cat can be found here.