Octillion Corp. operates through its subsidiaries to identify, acquire, develop and market alternative and renewable energy technologies. The company works with universities, research institutions, start-up companies and government agencies to find those technologies to meet the renewable energy market’s demand and needs.
The company today announced it will expand its product development pipeline to include technologies capable of producing clean electricity derived from kinetic energy of moving vehicles such as cars, buses, trucks, trains and rapid transit. Paired with this immediate expansion plan, the company recently formed a new, wholly-owned subsidiary, Kinetic Power Corp., focused on capturing the kinetic energy of moving vehicles.
“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,” Nicholas Cucinelli, president and CEO of Octillion stated in the press release. “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 its Sungen Energy Inc. subsidiary, Octillion is also working to develop technologies that will convert glass building facades and skylights into energy resources without compromising traditional viewscape and daylighting attributes.
“Our ongoing work in energy-generating solar windows and the impact of unprecedented oil prices have inspired us to see the built environment through a different lens,” Cucinelli concluded. “In launching this new initiative, I look forward to capitalizing on the unique experiences of our board, our management team, and our proximity to the region that put the world on wheels. Michigan engineers and scientists possess a wealth of untapped technological innovations for the transport sector, and I believe there is no better place to catalyze and inspire a new wave of mobility, accessibility, and energy innovation.”
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