Eric Gamble
Charlotte, NC (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Kairos Alternative Energy Systems
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Startup
Location:
Charlotte
Industry:
Energy
Year Founded:
2008
Number Employees:
1-10 people
Description:
Kairos Alternative Energy Systems (KAES) has positioned itself to enter into a joint venture partnership (JVP) with Hydro Energy Systems, LLC (HES), a Delaware corporation, and to exercise an option to acquire the exclusive global marketing rights for Fuel Extender Systems technology from Fuel Extender Systems LLC, a spinoff company from Hydro Energy Systems LLC. Fuel Extender technology is an on-demand hydrogen fuel system for internal combustion engine applications, using a “closed-loop” design for safety. The initial product rollout is targeted for commercial vehicles (semis)by January 2009, with follow-on product introductions for passenger vehicles, heavy equipment (i.e. locomotives and construction equipment), and small engines (such as lawnmowers and the like).
The Hydrogen-On-Demand (HOD) system being introduced by KAES provides pure hydrogen for combustion through a vehicle's existing fuel system. This HOD implementation is not a Browne's gas, fuel-cell, nor is it an implementation that requires electrolysis. We have achieved major breakthroughs in the use of catalyst and nanostructures to make this sytem viable for commercial readiness.
To fund the joint venture, KAES has a funding requirement of one million one hundred-fifty thousand dollars ($1,500,000 USD), which funds the commercialization of the Fuel Extender technology and provides KAES with ten percent (10%) of gross sales from the JVP. The JVP agreement provides KAES with first right of refusal on acquiring the exclusive marketing rights for any geographic region. The acquisition price for the full rights in the United States is five million dollars ($5,000,000 USD) and the acquisition cost for global rights, outside of the United States, is twenty million dollars ($20,000,000 USD). KAES must execute the acquisition of these rights within thirty-six (36) months of initiating the JVP, assuming no viable offers have been presented to HES from another entity. A fifty thousand dollar ($50,000 USD) deposit provides for a thirty (30) day inspection and testing period. Upon those test results validating a minimum 40% increase in fuel efficiency, an additional payment of two hundred seventy-five thousand dollars ($275,000 USD) is required. If the required test results are not achieved, the deposit of $50,000 will be refunded. Otherwise, the remaining one million one hundred seventy-five thousand dollars ($1,175,000) will need to be paid in during the next 12 months in 3 tranches: Tranche-1, four hundred seventy-five thousand ($475,000 USD) by day 60; Tranche-2, four hundred twenty-five thousand ($425,000 USD) by day 180; and Tranche-3, two hundred seventy-five thousand ($275,000 USD) by day 240.