Octillion to Develop New Technologies Capable of Generating Electricity from Moving Vehicles
AUBURN HILLS, MI – Octillion Corp., a next-generation alternative and renewable energy technology incubator announced immediate expansion of the company's product development pipeline to include the development of safe, economically-viable technologies capable of producing clean electricity from the kinetic energy of moving vehicles, including cars, buses, trucks, trains, and rapid transit, according to http://cts.businesswire.com.
Last month, Octillion joined lead sponsors Ford Motor Company, Royal Dutch Shell, and the National Science Foundation to co-sponsor "New Mobility: The Emerging Transportation Economy," an international conference at the University of Michigan. This event was hosted by the university's "Sustainable Mobility and Accessibility Research and Transformation" (SMART) initiative.
Octillion President and CEO, Mr. Nicholas S. Cucinelli, assisted in the founding of SMART and formerly assisted Ford Motor Company executives in contributing to the Sustainable Mobility Project of the World Business Council for Sustainable Development.
Octillion has formed a new wholly-owned subsidiary, Kinetic Power Corp., specifically focused on harnessing the kinetic energy of vehicles in motion and more broadly working to enhance the sustainability and energy efficiency of transportation infrastructures and systems.
"In the United States, nearly 70 percent of our electricity is generated by coal and natural gas, according to the U.S. Energy Information Administration," stated Mr. Cucinelli. "The environmental impact and rising costs of these non-renewable fuels, along with the potential doubling of global electricity consumption in the coming years, clearly illustrate the urgent need for more creative, sustainable methods for generating electricity."
Through the company's wholly-owned subsidiary, Sungen Energy, Inc., researchers are working to develop technologies with the potential to economically convert glass building facades and skylights into energy-generating resources while preserving the traditional viewscape and day lighting attributes valued by building occupants and architects.