News about Woodford and Industrial Heat

  • Today Link took an axe to the Woodford Patient Capital Trust’s stake in Industrial Heat for the second time in three months. The value was written down by 83% to less than £10 million due to a “delay in operational progress”.

    In August Link wrote down the value from £88 million to £58 million.


    The idea behind IH was good. But the folks running the company do behave like goods full of goodness and you finally sell them your soul for two bites of manna...


    But that's the mind dress code of upperclass folks that still believe their money works.. and rules the world. Even if that might be true - this story will have only one possible end. This money world will soon pass by as really brilliant people never will talk seriously to such mental underdogs.


    When, 35 years ago, my engineer fellows looked for a job they had two choices : 1) making money in mentally boring job, or 2) working like a slave in a interesting and demanding position. But today only fools choose the 2) !

  • Quote

    What i do know is that Andrea Rossi, in hindsight, handled the law suit with IH even smarter than we could imagine back then.


    Yes. Sometimes, simple and direct extortion results in a payout. That's the nature of courts and juries of one's peers, unfortunately. The jury trial system is not great but it is probably the best system possible.

  • You may need to register to view the article but below is most of it (large type is my emphasis). I bet Brad Pitt and the other notable investors must be royally pissed off to lose most of their investments.


    https://www.telegraph.co.uk/bu…fusion-stock-woes-deepen/


  • Investors in the collapsed Woodford Equity Income fund (WEIF) have engaged with legal representation in efforts to claim compensation for "heavy financial losses" accrued as a result of the fund’s demise, with Hargreaves Lansdown (HL) among those in the firing line. WEIF collapsed in October after it was determined that it was not in the best interest of investors to reopen the fund after its June gating, which ultimately led to the closure of Woodford Investment Management.

    The fund is now being wound up but experts anticipate it could take years for investors to get their money back, with any return set to be considerably lower than capital invested.



    https://www.investmentweek.co.…investors-legal-challenge

  • Melissa Brent Hill patented treasure:


    "One or more isotopes of a transition metal are enriched and the concentration of these isotopes is higher than the natural abundance. The enriched transition metal may form metal oxide. It is disclosed herein that plating a reaction chamber with an enriched transition metal or metal oxide having a specific composition improves heat generation in an exothermic reaction."

  • Its rapidly becoming apparent that open ended funds should not be used to hold illiquid assets such as private companies or property. The M&G property fund has recently had to gate itself.


    Unfortunately, there's nothing new about this story. Bill Ackman did this at Gotham, for example.

  • DISPOSITION OF REAL PROPERTY

    LEASE


    Another nice find Ahlfors . The lease to IH on the North Carolina State University campus was signed Oct 2018. Not sure when they moved in, but looks like IH partnered up with the university:


    "Disposition by Lease to Industrial Heat for +/- 9,000 rsf of office and high-bay space
    at Research IV on Centennial Campus. Disposition is recommended for partnership
    with the University and contribution to the Innovation Ecosystem on Centennial
    Campus."

  • "Our research group is conducting calorimetry of a metal hydride chemisorption reaction at high-temperature reaction conditions. The mass flow calorimetry setup used for this experiment measures heat output by determining the temperature gradient of water flowing around a heated (100W input) reaction chamber. The amount of energy released by the reaction can be calculated with the heat capacity of water and the flow rate. To increase accuracy of the measurement, heat losses not going to the flowing water must be minimized. Using the non-isothermal flow feature of the Heat Transfer Module, we modeled the heat-loss of our reaction vessel for insight on how to best thermally insulate our reaction chamber."


    [2019 COMSOL Conference in Boston]

  • "Our research group is conducting calorimetry of a metal hydride chemisorption reaction at high-temperature reaction conditions. The mass flow calorimetry setup used for this experiment measures heat output by determining the temperature gradient of water flowing around a heated (100W input) reaction chamber. The amount of energy released by the reaction can be calculated with the heat capacity of water and the flow rate. To increase accuracy of the measurement, heat losses not going to the flowing water must be minimized. Using the non-isothermal flow feature of the Heat Transfer Module, we modeled the heat-loss of our reaction vessel for insight on how to best thermally insulate our reaction chamber."


    [2019 COMSOL Conference in Boston]


    They get 150C temperature change over 4 inches of the feeder tube. The (easier) methods that they have not said are (1) use smaller diameter tube and (2) use several meters of tube, all insulated. The tube thermal conductivity scales as A*Kcond / L. So A and L are easy ways to change this. Kcond chnages from 50W/mK (SS) to 7W/mK (manganese) so this is pretty significant but SS tubing is surely much cheaper than manganese tubing, since manganese is v difficult to work. Maybe they mean Mangallow - a 10% mangaese variant of stainless steel which again is difficult to work because brittle (low thermal resistance in metals => brittle).


    But it is good to see them wanting to do this. They have 15W loss from their 100W in. They could easily reduce that to 5W loss with (they would hope) then much more significant results. Or, if not much more significant, understanding that the results were something else.

  • Funnily enough, Manganese may just be 'special' in this instance. I have seen references elsewhere to catalytic activity related to LENR of a particular and unusual manganese oxide MnO3 (perhaps).


    ETa- it (Mn) is mentioned is several papers about Biological transmutation, and also others by Celani and co. Here also is an extract from a fusion patent .



    'The catalytic material may comprise a mixture or a compound containing phosphorus (in particular red phosphorus) and a transition metal from Period 4 or Period 5 of the Periodic table.

    [0010]

    In particular embodiments, the transition metal is from Period 4 of the Periodic table—for example, manganese.' https://patents.google.com/patent/US20190164652A1/en


    BTw- this thread is wandering off topic. My bad!