ACCESSWIRE February 20, 2018
In an Interview with CEOCFO, CEO Tim Hassett Describes how his Patented Technology Replaces Tow-behind Generators with Specially Equipped Standard Pickup Trucks; “Wherever You Can Drive a Truck, You Can Now Generate Power,” Hassett Explains
TAMPA, FL / ACCESSWIRE / February 20, 2018 / CEOCFO Magazine, an independent investment and B2B publication that highlights important technologies and companies, today released an interview with Tim Hassett, Chairman & CEO, Cool Technologies, Inc. (WARM).
As Hassett explains to CEOCFO’s Bud Wayne, Cool Technologies already has $22 million in purchase commitments for is patented technology, which is poised to revolutionize the multi-billion market for mobile generation, with help from partners like Panasonic.
Currently, when a natural disaster like a hurricane or wildfire devastates an area, or when the military needs to bring electricity to field operations, the solution is to bring in big generators that are towed behind trucks. These generators have several crucial limitations. They require fuel to be brought in as well. They are difficult to tow up narrow winding roads, and are typically inefficient, noisy, heavy, and polluting.
Cool Technologies has a far better solution. It builds a more efficient generator right into a standard pickup truck, using the truck’s own engine and fuel tank to power the generator. “Wherever you can drive a truck, you can generate power,” Hassett tells CEOCFO. “No one else offers that.”
The company’s key innovation, protected by numerous patents, is a new way of cooling electric motors that dramatically boosts performance and lowers costs. “That shakes things up in a big way,” says Hassett. The potential applications for this so-called heat pipe technology are vast. “The possibilities encompass all process manufacturing such as cement, copper, steel and paper as well as oil and gas, pump and compressors, rail, hybrids and wind turbines,” Hassett explains.
But the specific application that Cool Technologies has chosen to focus on first is mobile generation. The company is working with its partner Craftsmen Industries to add generators cooled by the heat pipe technology to standard Ford trucks. These truckscould then be driven or airlifted to any place where electricity is needed-and the drivers can turn on and control the generator without ever even getting out of the truck, using a Panasonic Toughpad to monitor the system.
Cool Technologies already has $22 million worth of orders for 269 generator-equipped trucks, which will begin to be delivered in April.
But that’s just the beginning for Cool Technologies, which will be profitable from the start and which has many key relationships with industry leaders and the military, Hassett tells CEOCFO. “We have a strong board of directors with very deep industry relationships, for example, Dan Ustian, former Chairman and CEO of Navistar International, and Dick Schul, former president of Emerson Motors and Senior Vice President of Emerson Corp.,” Hassett says. Orders are expected to climb to 400 to 600 more in 2019. And there are many more applications, such as using the trucks as mobile charging stations for electric cars, says Hassett.
With its unique technology and huge potential markets, Cool Technologies is a company to watch, CEOCFO magazine believes.
SOURCE: CEOCFO Magazine