2015 Fourth Quareter Industrial Heat, Tom Darden

E-Cat: Fourth Quarter Developments Of 2015

The final quarter of 2015 was exciting in the field of LENR. More scientists confirmed their own work in LENR, and more
publications did stories on Andrea Rossi and other scientists working with what was formerly called cold fusion. In addition,
a new plant was opened for Rossi’s E-Cat, and Rossi himself was interviewed by Senator Domenico Scilipoti, a member of
the Italian Parliament.

Woodford Investment Management

WIM, or Woodford Investment Management, had said earlier in the year that they had invested in Industrial Heat. At the
beginning of October, they revealed that they had performed due diligence for 2.5 years, and their investment came to $50
million USD. Industrial Heat owns the manufacturing licensing rights to Rossi’s E-Cat technology in the U.S., Russia, and
China. While some clients of WIM expressed concern about investing in LENR, their worries were counteracted by the due
diligence executed by WIM.

Scientific Recognition

At long last, fellow scientists started confirming Rossi’s claims. Stepanov, Mlakhov, and Quoc of Moscow State University all
confirmed the results achieved by Rossi and Parkhomov in obtaining a COP of 2.47. Reported in English in E-Cat World,
this report is published in the “Journal of Emerging Areas of Science.” This recognition helped to spur notice from
Huffington Post Science.

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The Huffington Post gave a brief history of the biggest players in the fields of cold fusion and LENR, citing work done by
Lockheed Martin as well as some other commercial interests. They also reported that Rossi’s customer has “significantly
lower utility bills” since using the industrial E-Cat. In the interview, Rossi confirms his desire to provide “cheaper energy and
reduced global pollution.” For the first time, Rossi actually discussed the reactions taking place in LENR.

A New Factory

It was along this time that Industrial Heat announced that it was expanding its operations into a 20,000 square-foot lab. In
an interview in Biz Journal Magazine, Darden repeats his conviction that LENR may be an energy source that can save the
world. While skepticism is still prevalent in both the scientific and publishing communities, Darden and Cherokee Investment
are holding firm in their commitment to this form of energy.

More Replicated Results

In the middle of October, the top Swedish scientists, Rickard Lundin and Hans Lidgren, presented a paper at the 11the
International Workshop in Toulouse, France. In this paper, the two scientists announce that they predict an excess of 1000
COP in their LENR experiments, and cited Rossi’s work as “extremely important” to their work. Just 2 days later, Rossi
announced that his new 1 MW plant has a volume of only 4 cubic meters. Covered in E-Cat World, the news is welcomed by
industries that see the smaller size as a major improvement to the 40 foot shipping containers previously used to house the
plant.

New Investments

Tom Darden, CEO of Industrial Heat, signed a cooperation agreement with a newly created strategic financial center in
Beijing. The “Technology Ministry of Science and Innovation Park” will participate in technology transfer with 20 companies
from the U.S. This sparked rumors that the E-Cat technology recently patented in the U.S. would somehow become the sole
property of the Chinese government. However, these ideas were assuaged, and China invested the equivalent of $121
million USD in LENR technology.

A Significant November

Toward the end of November, Rossi released images of the newest E-Cat. These photos showed a much more compact,
tidy looking power plant than previously seen, and engendered a lot of excitement in the E-Cat world.

Just a few days after the release of the newest pictures of the power plant, engineer Fabio Fulvani, who works with Rossi,
told Mats Lewan, “I have seen things you people wouldn’t believe.” In this interview, Fulvani gives intriguing first-hand
accounts of what it is like to work with Andrea Rossi, and how his own skepticism has been overcome through working with
LENR. He states that his role is basically as an interpreter for Rossi to the engineers on the line.

As November came to a close, Norman Cook, who had collaborated with Andrea Rossi in formulating the theoretical work
for “The Rossi Effect” presented the theory in an abstract at Kyoto University in Japan. This was for the Japan CF
Research Society.

The third quarter came full circle with a presentation on December 3 in the Italian Parliament building. During a workshop
entitled “Frontier Researchers,” Senator Domenico Scilipoti presented his findings in his interview with Andrea Rossi.

In all, the whole of 2015 brought great advances in the production of clean energy, and greater credibility for this incredible
scientist and inventor. Toward the end of February or beginning of March, 2016, the newest plant should reach the end of
an entire year of operation. Hopefully, this will bring the world much closer to affordable clean energy in the form of E-Cats.
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