Fund Manager Invests $39.94 Million in LENR
The United Kingdom’s most respected manager has invested nearly $40 million in low energy nuclear reaction (LENR) research and nobody noticed. Neil Woodford CBE invested £32 million ($39.94 million) of his clients’ money in Industrial Heat’s LENR research efforts, The Financial Times (Britain’s equivalent to The Wall Street Journal) reported.
Woodford is one of the most respected fund managers in the City of London. He placed .24% of his £9.4 billion ($11.73 billion) equity fund and 2.43% of his £761.4 million ($950.42 million) “patient capital fund” in Industrial Heat last year, Financial Times writer Kadhim Shubber noted. Strangely enough nobody in the city or the British media seemed to notice until now.
Industrial Heat is the company headed by Tom Darden that bought some of the rights to Andrea Rossi’s e-cat LENR technology. Industrial Heat and Rossi fell out after the company’s experts were unable to verify his claims. Rossi is now suing Industrial Heat for breach of contract, and Industrial Heat is suing him in federal court in Miami.
Shubber; who is skeptical of LENR, wrote a pretty good piece on the investment for The Financial Times’ Alphaville section. Shubber notes correctly that no LENR device has been verified by outside experts, although the effect has been detected. He also correctly points out that modern physics cannot explain LENR.
I liked the fact that Shubber was not snarky or arrogant in his skepticism like many of the so-called science writers out there. Still having such a wealthy and perceptive fund manager investing in cold fusion seems to prove there is something going on there.
Woodford is not the only wealthy person interested in LENR. The Martin Fleischmann Memorial Project reported that Bill Gates; the world’s richest man, might be secretly bankrolling cold fusion research at Texas Tech University.
Woodford and his people definitely understand that they getting into a controversial and unverified area of science. Here is a statement they released to The Financial Times:
“We invest in many early-stage companies that are testing the boundaries of scientific understanding. This is an area that has been met with skepticism and we are certainly not blind to this. However, the potential market opportunity suggests to us that it is an area that is worthy of further investigation.”
If only mainstream science were so open minded about LENR. Why not try and verify it rather than it dismiss out of hand. If hard-headed investors like Woodford and businessmen like Gates can see the phenomenon’s potential why can’t self-proclaimed scientists?
The Danger from Robotization Exposed
If you are wondering what effect an energy source like LENR might have check out The Guardian’s review of Peter Frase’s new book Four Futures: Life After Capitalism. Frase provides some frightening insights including demonstrating how an unlimited energy source like LENR; and robotization, might lead to a corrupt plutocracy or a world where the rich exterminate the poor. It is frightening stuff but well worth thinking about.