Rumor Mill Hedge Fund identified as E-cat and Leonardo Corp owner
Unconfirmed rumors reported by several media outlets have identified the mysterious investor that bought the e-cat low energy nuclear reaction device and Leonardo Corporation from Andrea Rossi as Cherokee Investment Partners LLC. Cherokee is a private company or hedge fund based in Raleigh, North Carolina.
E-Cat World claims that Cherokee formed a subsidiary called Industrial Heat LLC which used $11 million to buy the right to the E-cat from Andrea Rossi. E-cat World also claimed that Rossi has been appointed Chief Scientist at Industrial Heat. Bloomberg described Industrial Heat LLC as a company that operates in the energy sector.
The address listed for Industrial Heat LLC is Suite 300, 111 East Hargett Street, Raleigh, NC 27601. That is also the address listed at Cherokee’s website. Thomas Darden the Chief Executive Officer of Cherokee Investment Partners is listed as Manager of Industrial Heat LLC.
The Triangle Business Journal newspaper reported that Industrial Heat LLC had received $11.6 million in investment from Cherokee Investment Partners. The Journal also noted that another Cherokee Investment Partners executive J.T. Vaughn is also involved in Industrial Heat LLC.
There is no mention of Industrial Heat LLC, Andrea Rossi or the E-cat at Cherokee Partners LLC’s website. Cherokee has funds of around $2 billion that it invests in the redevelopment of polluted industrial properties and in renewable energy projects such as solar panels. The company is involved in the generation of electricity through solar panels so it has experience in the energy business.
Cherokee also operates the Cherokee-McDonough Challenge which is designed to identify, fund and develop high impact environmental business ventures. The challenge provides such investors with $20,000 in seed money and free workspace. The challenge might be of interest to LENR pioneers.
There are also some rumors that Thomas Darden and Cherokee have connections to China. E-Cat World noted that Darden recently visited China and described the E-cat to Chinese officials. Among other things Darden reportedly told executives at a company called Icebank and the Chinese “National Academy” about a nickel reaction process and the power generation of nickel. Hysterical rumors that Darden is only selling E-cat to China don’t appear to be true. Note the IceBank website incorrectly identifies Thomas Darden as “Thomas Dutton.”
The Icebank website claims that Darden met with an Energy investment Co Ltd. President to discuss nickel generation energy. The Icebank site also mentions low-carbon energy. It should be noted that the Icebank site is written in Mandarin a language I don’t read so I had to rely on a Google Translation. That means the terms could be wrong.
If these reports are true they are certainly good news. It means that serious investors are interested in E-cat and are willing to invest serious money in it to bring it to development. Hopefully this news will attract venture capital to other LENR entrepreneurs such as Brillouin, Defkalion and Piantelli.
In another welcome development Sterling Allen’s LENR to Market Digest has reappeared online after a two month absence. Hopefully this valuable resource will stay around and keep us posted on the exciting developments in the world of LENR.
- industrial heat llc
- industrial heat llc website