posted on Dec 08, 2008 08:07AM
Edit this title from the Fast Facts Section
WASHINGTON, Dec 08, 2008 (BUSINESS WIRE) -- Octillion Corp. (Symbol: OCTL), a next-generation alternative and renewable energy technology developer, today announced immediate expansion of the Company's engineering team in order to aggressively pursue development of first-generation devices capable of generating electricity by harvesting energy from vehicles in motion.
"We're working to creatively, quickly, and cost-effectively develop brand new technologies to generate usable electricity from the estimated 6,000,000 trucks and 250,000,000 cars on America's roadways," stated Mr. Meetesh V. Patel, Esq., President and CEO of Octillion Corp. "I'm confident that today's addition of V2G Enterprises LLC, an innovative engineering and prototyping firm, will help us achieve these goals."
Based in Mount Laurel, New Jersey, the V2G team brings more than fifty years of combined mechanical engineering, prototyping, and electronics experience spanning across North America, Europe, and Asia.
V2G engineers have worked with the Burroughs Corporation (now Unysis Corporation), the prestigious Alfred I. DuPont Institute, and notably, the New Jersey Turnpike Authority to develop technologies related to toll-booth systems. Engineers anticipate targeting toll-booths and highway exit ramps among potential high-traffic installations for Octillion's vehicle-driven electricity generation devices.
Today's announcement marks rapid expansion of the Company's engineering efforts, and comes on the heels of Octillion's agreement announced last month with Veryst Engineering LLC, a respected Boston-based engineering firm with expertise in energy capture technologies.
Working with the Office of Naval Research, recent advances by Veryst engineers in harvesting energy from motion were featured in the September 2008 issue of Mechanical Engineering Magazine, an award-winning publication of the American Society of Mechanical Engineers, published since 1880.
In an article titled, "Harvest of Motion", Veryst Managing Principal, Dr. Stuart Brown, and Engineer, Mr. Brian S. Hendrickson, highlighted their unique skills in energy harvesting by way of the development of a small-scale device which uses human motion to generate five-times greater power output (per volume) than conventional energy harvesting systems. Rather than human motion, Veryst engineers are now working to develop Octillion's large-scale energy capture technologies using the motion of cars and trucks to generate electricity.
"It's truly exciting to think that in the not-too-distant future we could be generating usable electricity by exploiting wasted kinetic energy from the movement of millions of vehicles," concluded Mr. Patel. "I'm especially eager to aggressively move these first-generation technologies along the product prototyping path and position Octillion as an early innovator, one of the first companies to truly work towards commercializing a new and novel transformational technology for generating electricity from wasted energy."