ENECO Raises US$20M From Proterra

ENECO, the Salt Lake City based R&D company developing what they describe as a "Thermal Diode" for energy conversion and which once held patent rights to the Pons & Fleischmann cold fusion ‘discovery’, has reportedly (Green Buisness News) landed US$20M from Proterra Energy in a new partnership valued at US$2B (that’s 10⁹) over the next seven years.  ENECO gets a 10% cut.

The Green Buisness News piece also reports ENECO as describing their energy conversion technology as ‘still in the "pre-manufacturing" stage and that the company is still working on resolving certain "packaging issues"’.

After ENECO’s cut, that still works out to a 90% annualized return on investment (assuming that US$2B number is net, after expenses).

Stay tuned.