Are LeonardoCorp, IndustrialHeat and HydroFusion the only #LENR #ECAT Licensees Left?

Reading Rossi comments the last couple of days indicates clearly that there is no longer any agreement between Lenorado Corp/Rossi and the different entities of Roger Green, even though he is still advertising E-Cats on a couple of different sites. Further down my licensee map is updated with this information.

rossi_au3 rossi_au2 rossi_au1

The only licensee except for Industrial Heat seems to be Hydro Fusion. This relationship seems very good though.


What I also find interesting is the hints on a Leonardo IPO that Rossi is making. This is especially interesting together with the fact that Rossi is hinting of a factory in southern Sweden and that Hydro Fusion is responsible for the ECAT.COM website which have collected all pre-orders of both MW and home E-CATs.

Looking at an updated picture of the world wide e-cat license market, it becomes more and more obvious to me hat the Leonardo / HF combo is the most important to watch. Not only because of IP ownership, but also because the european markets is more fragmented and prone to be early adopters in a decentralized way. As I also shown, northern and eastern europe are the areas that have shown superior interest for the LENR break through. I do not think this is totally random…

I actually believe LENR is too disruptive for the politicians and present stakeholders to be implemented in a top-down approach. Since it is a energy revolution it will be implemented bottom-up by those who gain the most. This mainly includes countries dependent on energy import (eastern europe, Ukraine, large parts of Asia) and countries with governments less influenced by established geopolitical interests (Banks, politicians, NGOs and corps – mainly US based).


Obviously Rossi understands this completely … It is only way it can be done.






#LENR #E-CAT Lugano Report Downloaded more than 200 thousand Times since Release!

To get the full picture of the LENR intreset overall and the Lugano Report in particular I made som statistics on the downloads. It has now been downloaded in excess of 200 thousand times from this site only. Looking at the IP numbers it is a confirmation of the trend of northern/eastern european domination in the LENR space.

In absolute numbers US dominates, followed by Russia, Germany, Netherlands and Ukraine. On per capita basis Netherlands, Finland and Estonia are in top, followed by Bulgaria, Sweden and Ukraine.



Another way to visualize the LENR interest.


#LENR Interest per Capita is Dominated by Northern Europe

As can be seen below from IP number statistics in the log files, most visitors are from the US representing 30-40%. Europe as a whole have 40-45% with a focus on northern european countries.

Looking at interest per capita the northern european countries dominate totally.

While US and China heads the overall ranking.


Looking only at downloads of the Lugano Report during 2016 we see a similar pattern. Note however the eastern europe countries like Russia, Ukraine and Bulgaria have relatively higher ranking, and China lower.



Something Really Bothers Me About the @ApcoWorldwide #LENR Connection!

We can be sure about one thing though. Apco Worldwide beeing involved in sending email to a few LENR enthusiasts (and Krivit) is a proof that the establishment are keeping a close eye on the LENR development.

Apco IS the Washington establishment in a boiled down format. They are in way bigger than the politicians and the bankers, since their job is to shape/control the public opinion in problematic issues, like climate, health, food, medcare, tobacco and of course defending big corporations against the people in many other different ways.

Apco PRWatch link



Their specialty seems to be creating fake grassroot groups to make their issues heard… and using the “science” word in fake contexts. Hmmm.

Another thing that bothers me is that they do not seem to make that much money. About $120 million for 630 consultants. That is only $190k per consultant. It’s far from whai I would expect. Ask McKinsey or any hig end law firm. With the kind of clients they advertise and the number of previous political and banking high rollers they have on their paylist, they are either stupid or they are a facade for something else (and bigger) …

So, I’m thinking. Maybe they are not only working for Industrial Heat. Maybe they are actually the architects of the establishment and contracted to write the LENR roll-out agenda. Maybe IH got sort of an offer they cant refuse… Maybe IH has to much to loose to say no to a slower and more controlled LENR roll out. Because maybe Hillary does not want this disruption before the elections (It’s bad enough anyway with Trump) or not all, and Goldman Sachs really need to get out of all their oil commitments first. And since they know, the longer it takes, the more money they will make. They all have the information advantage now. And they will use it. As I wrote three years ago on

The political and banking establisment does not like disruptions since they thrive on status quo and cotnrol. They like slow progress. And when there is disruption they want to bill the taxpayer. So they need LENR to be slowly integrated in the existing grids and regulated, so that it can be controlled and the taxpayer can be charged the costs of disruption (ie. to the big establishment corps loosing business). And they need to have time move the bad assets off the books to the taxpayer pension and savings funds.


Two excellent books on the theme … It has happened before …

It sort of make sense thinking of the IH letter in this context. They dont deny LENR, but they want to present it as something in the uncertain but somewhat hopeful future.. Certainly not as a 1MW reactor working for a year with COP 30/40/50 or something right now. Apco works for Bill Gates/Microsoft as well, so I believe they like the 10-15 year timeframe.

IH is now part of this carefully calculated agenda that will roll out eventually, but not as fast as it could, and I also believe they failed their mission to secure the Rossi IP and know-how, especiall on the E-CatX. So they play the credibility card instead to slow down Rossi in his mission.

As we have seen Rossi is now focused on Sweden, building a factory, perhaps working together with Hydrofusion and attending the New Energy Symposium.


Cooperation in the Making? Are Leonardo and HydroFusion Setting up the Prime #LENR Entity?

It certainly looks that way right now. Rossi seems more focused than ever promoting the Swedish connection.

rossi_se2 rossi_se1A

Leonardo and Hydro Fusion together would actually be a great fit covering more or less 35% of the world market looking at GDP distribution (blue+yellow in the map). And Leonardo owns the actual IP. Also these are the European markets, which might actually be easier to work with politically than the US, since there is less of US invested interests involved (Big Banks and Oil debts).



Rossi will hold a press conference in connection (date unkown) with the New Energy Symposium in Stockholm on June 21-22, and he will be interviewed by Mats Lewan. I do not think it is far fetched to speculate that the Rossi press conference will be held together with the Hydro Fusion team.


Link to the Symposium






There is a $100 billion Reason for the Big Banks ($JPM $GS $BAC $WFC) to be Vague about #LENR #BlackSwan! Is #APCO the Connection?

Beacuse they are in the process to offload this substantial amount of risk exposure to the taxpayers.  Right now.

Of course this is about the distressed debt of the US oil and gas sector.


Link to CNBC

And Goldman Sachs itself adds another $10.6 bn to it, which makes roughly $100 billion.

Compared to this risk the Big Bank short position in oil futures is actually dwarfed, Today the 300 thousand contract short position amounts to $11 billion, A hedge, but not nearly enough.

But as I said. They are acting on it. So far this year about $9 billion has been raised to pay back these debts, As an example JP Morgan are actually raising money for distressed oil companies from the their customers (like pension and saving funds, etc.) to pay back the loans they themselves have given to the oil companies …


Link to Zerohedge

This sort of reminds me of what happened before the mortgage bubble burst …

So. Point is. Until the a majority of these “assets” are removed from the Big Bank books, there is reasons to put pressure on everything that might upset the oil price too much.  Including #LENR.

Looking at CFTC.GOV data we can also see that The Banks stepped in and started to buy futures when the oil price fell below $30 early february, which then created positive overall energy sentiment both on the high yield bond market and oilprice. At the same time they were offloading their distressed assets to a better price.

Maybe APCO is more important than first realized in this scheme and have turned Industrial Heat into a small brick in the game. Maybe they are vague for  100 billion reasons?

This stuff is not new for APCO. They have tons of experience working for Big Oil and loads of executive experience from Goldman Sachs, etc. Here is one example of many found on google.

Huffington Post about past APCO projects,


Will #IndustrialHeat choose Not to Release the 352 day 1MW #LENR report? In that case, Why?

I’ve been reiterating the IH PR letter and it is obviously extremely carefully worded aimed at several entities. As I wrote earlier, it’s i a broader sense directed to the overall community to raise LENR credibility and to fend of the pathoskeptical cult in particular.

But there are more to it. As I said, this paragraph gives credibility to earlier third party tests, ie. the Lugano Report team, but also refers to the present 352 day ERV report. They want somebody to know that they are in control …

We value credibility through sound LENR research. That’s why any claims made about technologies in our portfolio should only be relied upon if affirmed by Industrial Heat and backed by reputable third parties who have verified our results in repeated experiments.

And I believe that this somebody could be very specifically Rossi/Leonardo. Because no one is even close to benefit as much from the ERV report as Rossi and Leonardo. This IH knows.

Following the JONP blog it is clear that Rossi is NOT in control of the EVR. He does not decide if and when to release it. Rossi has been very clear on that he is now working for Leonardo, not IH. He has also been clear on that Leonardo plans to start manufacturing in both US and Sweden.

rossi_leo4 rossi_leo3

And he is also clear on that, even though he knows the result of the test, his credibility is limited compared to IH.





IH knows, that even though they might benefit from a release (or maybe not), it comes with a serious downside; loosing control over the Rossi know-how, which is as close as IP as they have. Rossi on the other hand clearly boosts his plans to work with Hydro Fusion building a factory in southern Sweden.


So we have a standoff; Rossi has the IP and wants to pursue other goals than spending time in a container. IH has the credibility and controls the report. They are negotiating …

Putting it all together I believe it looks like this:

IH are holding back because:

  1. They value the information advantage. Although this one is not new. Still, there is no product in the market yet. It is work in progress, and the less other entities know, the better for them.
  2. They are negotiating continuation of the Ecat series with Rossi and rights to the technology. We dont know the fine print between “manufacturing” and “know-how”. Rossi comments supports this thesis by suggesting delays.
  3. To keep Rossi in line. Releasing report would boost his credibility enormously, possibly leaving IH for Leonardo/Hydro Fusion to build a plant in southern Sweden, with his core innovation team and know-how. That would move focus from IH as main LENR player to Leonardo who has the IP. Ie. not good for IH investors; they certainly would like IH to have more control over IP than they have. Rossi comments support this thesis also. As well as IH letter stating only they themselves are credible.
  4. Maybe there is an issue with the ERV entity. Especially if the COP is really good. The downside is huge and upside limited. Negotiations going on here as well?
  5. They realize that regardless of ERV report there will be multitude of attacks also on IH stating fraud/scam. The better/longer report the more attacks. It’s easy to invent scenarios of fraud, not having to prove them. Harder to prove oneself innocent. This thesis is also supported by the IH letter.

It makes business sense to me. Hopefully Rossi, who benefits the most from a release and is in the loop can put enough pressure on IH to release it anyway. A summary would be nice 🙂 Actually I think less is more in that case, leaving less for the pathoskeptic cult to fantasize about.

The $3.6 Trillion #Energy Market is about to Change Completely due to #LENR !

The market was actually $8.5 trillion 18 months ago. So a lot has already happened, which is easy to forget.  Since the Lugano Report the oil price has dropped from ~$90 to $38, even touching $28 on Feb 11th.

So the energy commodity (I’m not even talking utilities, refining and distribution here) has gone from contributing with 11% of global GDP (roughly $77 trillion) to 4.5%. Looking at it that way, we have global deflation of 6.5% in 18 months … No wonder central banks are printing money as much as they can to counter it. I wrote about it here:

Black Swan slides


So what is going to happen with the energy market as a whole in a LENR context. I’ve made som research on the licensees and made a map. I think I got it more or less right, but it includes som guessing due to lack of information.

Of course I realize the E-Cat will not be the only player in the long run but but right now no one else is really close. This is what the world according to LENR looks like today…


An impressive market. The areas covered by the licenses are hard to comprehend. My take is that 90% of the energy market will be replaced within 15 years and today this is covered by four (tiny) companies/groups and very few investors.

Of course this is going to take some time, and the players might change, but basically all oil, gas and coal will be replaced by LENR due to marginal cost per Joule approaching zero. Capital costs for the migration will be measured against a falling price of oil. At $10 the transition will start to slow down maybe. But with falling capital costs (my estimate is <$100 per kW) and a COP of maybe ~50 (20-80 range) it will be really hard to argue for the alternatives.


#IndustrialHeat under Fierce Attack from #Trolls and #Pathosceptics due to #LENR Investments?

Recently Mats Lewan recieved the following email from JT Vaughn at IH.

Link to Mats: Industrial Heat Statement


My interpretation of the statement is that IH (and everyone involved on a personal level) probably is under fierce attacks from all kinds of random weirdos, trolls and pathosceptics. Most of them only stupid, but some of them I’m sure have a bigger agenda.

Look at this statement:

Unfortunately, there is a long and continuing pattern of premature proclamations in the LENR sector. Because of this, we encourage open-minded skepticism. We believe society suffers when technological advances and innovative experimentation are stifled; likewise, society and the industry suffer when results are promoted and claims are made without rigorous verification and precise measurement.

The “long and continuing pattern of premature proclamations” obviously relates to 27 years of thourogh and deliberate miscrediting of everything and everyone related to cold fusion and LENR put into action mostly by the skin-in-the-game academic reasearch community spread by the corrupt presstitutes from the so called respected academic journals and borderline MSM like Nature and Popular Science.

Open-minded sceptisim is exactly what all of the above are lacking. There is no question about that technological advances have been stifled due to these academic and media powers. They are indirectly responsible for the suffering/death of millions of people that otherwise could have been reduced. Will they be held responsible? Of course not. Not any more than the politician/bankers that created the financial mortgage meltdown some years ago.

This email would probobly not have been written unless IH

  1. Recieves a lot of discreet threats and general harassing
  2. Knows the result of the 350 day test is positive and that the third party report will leave no doubt.

However there is no doubt either that everyone that has had anything to do with with the report will be attacked. Even on a personal level. We will see massive discrediting down to the level of spelling errors and old speeding tickets.

We value credibility through sound LENR research. That’s why any claims made about technologies in our portfolio should only be relied upon if affirmed by Industrial Heat and backed by reputable third parties who have verified our results in repeated experiments.
Our portfolio of work has never been stronger and we remain excited about the potential we see.

Apart from beeing very positive, this is yet another credit to the Lugano Report. It is absolutely obvious that they trust the results of the report, and they should know. Pathosceptics and fools like Stephan Pomp and Peter Ekström, that have never even been close to an E-Cat obviously suffer from extreme hubris (or something worse)

On a positive note. Maybe it all comes down to fear of change, fear of the unkown. On the paper people seam to like change and innovation, but when confronted with it in the real world they will voted it down by a clear majority, due to mostly hate of the people bringing it to them and fear of the consequences it brings. Sad it is, but at least better than the criminal alternatives.

Generally though I believe the worst enemies of LENR is not the oil and energy business. They can transform to new conditions of their own powers. No. The worst ones are found among people and organisations that are dependent on tax financing. Obviously expensive academic research within hot fusion comes to mind, but there are other neigbouring areas in research like alternative energy. Also the whole climate change industry is thouroghly unprepared. Up until now they have been shouting fraud and/or been in denial. It will change and they will fight for their lives trying to regulate … something …

Finally they might change signs in their excel models and call for preventing a new ice age instead … That will work … oxygen tax …  taxing the trees … Well. Maybe not, but they will find another fear to capitalize on. For sure.


“Never attribute to malice that which can be adequately explained by stupidity, but don’t rule out malice.”

— Albert Einstein



CEO and Founder of Kairos Future (Swedish Strategy Think Tank), Mats Lindgren putting #LENR on the Hot List!

Mats Lindgren, CEO and Founder of a major Swedish strategy think tank Kairos Future tank puts LENR the hot list of trends for 2016.

If the present pace of installment of solar energy will continue, the capacity of installed sun energy in 12 years will equal the total installed energy capacity of today. And yet we have only seen the beginning of the “sunification” of developing countries. But maybe even more revolutionizing energy sources are in the works – 2016 could, if the rumors coming from early reports are true, imply the break-through for LENR, another term for cold fusion. The energy markets might already even have to have taken this into account when calculating oil prices. The chief engineer of the project Fulvio Fabiani states in an interview “I have seen things that you never would have thought could be possible”. Qui vivra verra.

Link to article

Nice to get some support for my energy market analysis as well …

Also worth mentioning is that Kairos Futures is one of the sponsors for the New Energy Symposium held in June.



Using the Twitter Fire Hose Feed to follow #LENR

I’m expanding my Twitter harvesting tool looking for everything in relation to LENR

These are the most read links related to LENR during the last week counting followers and retweets in the complete Twitter fire hose feed. Note that the algo might include false positives since it tries to search a little broader than #LENR also including references to the E-Cat and LENR without hashtags, which might result in complete misses in random languages now and then …


These accounts are the most retweeted and followed during the last week.

1 @ALAIN_CO,,LENR-Forum technology-watcher & Influencer. Disruptive technologies: #LENR_ #EmDrive… #Heretic #Dissident_ #Connard #Malpenseur
2 @LENRFORUM,,An optimist_ born with a lot of snow in northern Sweden. Founder of
3 @DRBOBCREW,,Engineer working on Green Energy Devices In my Under Ground Lab because I believe Information & Technology Can Solve All Our Problems!
4 @MATSLEW,,Speaker_ author and tech journalist_ focusing on cutting edge technologies and their increasing impact on our lives. Always one foot in Italy. Love my family.
5 @BELUGAX8,,Following the Cold Fusion Revolution
6 @LENRLTD,,Open Research & Internet Store
7 @SIFFERKOLL,,Following #LENR #ECAT & #oilprices closely and #energy in general. Also #bigdata #algotrading interest. Long distance runner and triathlete.
8 @FXPHILW,,“As for me_ I am tormented with an everlasting itch for things remote. I love to sail forbidden seas.” ― Herman Melville_ Moby Dick
9 @MATEMATHIEU,,Engineer_ Physics Experimentalist. Scientific advisor of the Martin Fleischmann Memorial Project. Lang.:Fr/En
11 @PMAHER_ART,,Retired 69 year old man looking to devote the remainder of his life to alternative energy.
12 @CLIFFKFF,,Sustainable Human Freedom_ Environmental and Energy issues_ LENR_ MFMP_ Electric Vehicles_ 3D Printing_ Bitcoin_ Travel_ Art
13 @CHARLESFRITH,,If you are a child abuse/MKULTRA survivor my tweets can trigger. #FreePalestine #tbmc #multiple #multiples Here_s some more info on me:
14 @SENGAKUT,,通称「常温核融合(Cold Fusion)」と呼ばれている科学分野に興味を持ち、全くの素人ながら理解を深めたいと願っています。
15 @PUIPUIWING,,知人のアケボノインコ 埼玉県富士見市 2012.3~迷子捜索中_♡parrots / stone / food / art / flower / music / creative / science♡ _調和した人類による地球、人類の潜在能力と 愛のエネルギー♡♡世界平和を実現するフリーエネルギー普及の新時代へ!
16 @FUSIONEFREDDA,,Notizie in italiano su fusione fredda_ esperimenti con reazioni nucleari a bassa energia LENR ed aggiornamenti sull_e-catalizer dell_ing. rossi
17 @CAPSTREAMX,,Tweets are from CapstreamX founder Grant Draper_ who works with startups and Fortune 500s in #AgTech and #Energy.
18 @ALTA_PIPELINES,,Alberta Pipeline Concerns is a place for people to discuss their pipeline issues. For solutions to climate change visit Eco Inventions over 700 videos 200+ LENR
20 @FROSTORBOSPHERE,,The battery is dead.

If you’re interested in getting these kind of statistics on a daily/weekly basis you can enter your email in the form below. I’m considering making it a regular newsletter if there is a big enough interest. I’m also planning to follow the financial markets in the newsletter, primarily energy related markets on a automated quantitative basis.

Is it Time to Short the #SolarEnergy Market due to #LENR? Maybe $SPWR and $FSLR?

Looking at the different aspects of the energy market since october 2014 (the Lugano Report) we can see that the by far worst performer (risk adjusted) has been coal energy, followed the plunging oil price. The utilities sector has outperformed everyone else actually showing a positive trend.

In between we have nuclear and alternative energy outperforming fossil fuels.

But why?

My take is that the markets on average has not yet realized that with LENR producing electricity big expensive solar farms will have no future. And probably, even more important; the “big money” has never been in solar, so they have not been selling, like they’ve done in oil, coal and gas during the last 18 months.

So I figure that there is a trade here shorting solar on a 6-12 month basis, buying cheap out of the money put options in companies like First Solar ($FSLR) and SunPower ($SPWR).


Looking at First Solar as an example below, we can see it has almost performed as well as the utilitiy sector since the Lugano Report. That doesn’t make sense to me. If LENR and E-Cat is for real, which I sincerely believe, they will most probably be affected negatively, maybe becoming more or less worthless.

The utility sector will on the other hand have a great future since we will use a lot more energy in the future and they will not charge us for the energy per se (kWh) but for the bandwidth and transport. Most of us will certainly be connected to the “smart” grid in the future and we will pay for it. So I’m long utilities (XLU).


Of course this is not investment advise, only a report on the investments I made myself.