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Clean Power Technologies
is the only company with a
steam/hybrid fuel technology, which shows promise of reducing emissions and lowering fuel
costs
Technology
Steam/Gas Hybrid Engine
(CPWE-OTC: BB)
Clean Power Technologies Inc. (CPTI)
436-35th Avenue N.W.
Calgary, Alberta Canada T2K 0C1
Phone: 403-277-2944
mithaa@shaw.ca
www.cleanpowertech.co.uk
Abdul A. Mitha
President and CEO
Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
Published - January 18, 2007
Bio:
Abdul A. Mitha
President and CEO
Mr. Mitha has over thirty years of domestic and international experience in the management
of ongoing and start-up public and private companies. He has provided consulting and
advisory services to various start-up companies in Canada including Findex Resources, Inc.
Meritworld.com and E-Com Interactive, Inc.
Abdul Mitha was appointed as a director, President and Chief Executive
Officer of the Clean Power Technologies Inc. in June
2006. He had previously served as Vice President Finance of Sphere of Language, a
predecessor to Clean Power Technologies since July 30, 2005.
Mr. Mitha practiced law at the English Bar from 1972
– 1977. Since 1977,
Mr. Mitha received his MA in Comparative Law from Brunel
University,
Middlesex, England. Mr. Mitha was a member of the
British Institute of Management from 1973 to 1978. He was a member of the Institute of Arbitrators
(England) from 1972 to 1978.
Since 1977, Mr Mitha has been an entreprenure and a
real estate investor in his own right.
Mr Mitha has been working on alternative and hybrid
fuel projects since late 2003. From the outset, he had recognized and understood the
nature and the importance of hybrid and alternative fuel system technologies for use in
automobiles and other internal combustion engines.
Mr Mitha strongly believes that hybrid fuel
technology will bring profound changes in the manner issues relating to alternative fuel
technologies and environment are addressed by the Governments, the industries and the
public at large.
Mr Mitha is passionate about applying his strategic
skills, and experience and drawing upon his entrepreneurial spirit to drive the project
forward and bring it to fruition.
Company Profile:
Clean Power Technologies Inc. (CPTI) (www.cleanpowertech.co.uk) is a publicly listed
company on Over the Counter Bulletin Board (OTCBB) on Nasdaq in the U.S. Our trading
symbol is CPWE. We are also listed on the Frankfurt Stock Exchange in Germany (Symbol:
C1L).
We are developing a unique and futuristic hybrid fuel
technology. The technology is based on creating steam on board and then use it with gas
(petrol) as a hybrid engine to drive a vehicle. Our research and development is designed
to enhance the thermal efficiency and effectiveness of power generation for all forms of
transport by hybridization, from the light car, through the heavy truck to railway
locomotives. Our technology is based on proven know how of the power of steam and its
advantages. It will help reduce oil dependency problem, and as well address emission and
environmental concerns whilst remaining friendly to the oil industry.
Our facility is located in England. CPTI has
assembled an impressive team of specialists and experts and these include a Robotic
Engineer, a Control System Specialist; Mechanical Vehicle Integration Specialist, a
Thermodynamic Specialist, an Engine Management Electronics Specialist, a Vehicle Systems
Specialist, and a Graphics Designer & Vehicle Builder”. Our team is well
qualified to meet all technological challenges to bring this project to fruition.
CEOCFO: Mr. Mitha, will you give us the
background of your alliance with Clean Power Technologies?
Mr. Mitha: “I started Clean Power
Technologies about a year ago. I was looking for an alternative technology project and I
found that most of the technologies that we had researched had a lot of shortcomings and
negative baggage. Then I found Professor Fred Bayley in England, who had developed a
Steam/Gas (petrol) Technology. I immediately realized this was the way to go. Steam is a
known source of energy and if you can be combined it with gas (petrol), you are not
developing any new technology, but using existing technology in a smarter way.”
CEOCFO:
What happened after you met Professor Bayley?
Mr. Mitha: “Professor Fred Bayley, who
is the father of our hybrid steam/gas (petrol) technology, Mr. Mike Burns, who has
tremendous background in the automotive industry and I negotiated a deal and we formed
Clean Power Technologies Inc. We started the project in early April 2006 and the research
is being done in England. One important thing that we were lacking was someone with steam
generating technology experience to come on board because this is a highly sophisticated
accumulator that we wanted to build. In that regard, we found a company called Mitsui
Babcock Energy Limited (previously known as Babcock Wilcox and now re-named Doosan Babcock
Energy Limited. (www.doosanbabcock.com). Mitsui Babcock is an
internationally renowned company in steam technology. We started negotiating with them and
brought them on-board to the extent that they did not just agree to help us to develop
this technology but they agreed to become our collaborative partner and shareholder in our
company. I think that is extremely exciting to have an international company with a
billion dollar in revenue to become a shareholder in a young and vibrant company. That in
itself speaks volumes about this exciting technology.”
CEOCFO:
How do you mix the steam and gasses; what is the process of your technology?
Mr. Mitha: “First, we started the
process to convert two Mazda RX8s, which are Wankel engines, to work on our hybrid steam
and gas systems. How the process would work is that the existing gas combustion system
will remain intact. What we are doing is adding Steam Accumulators, where the steam is
heated to an extremely high temperature. The steam will be injected through valves into
the engine in a ‘closed loop’ system, and the steam will be returned back to the
accumulators so that we are not losing steam and we do not have to re-fill water
regularly. Where the gas (petrol) part is concerned, the gas (petrol) will be combusted in
its normal process and the emission will come out from the tail pipe, just as it is now.
By combining these two processes, what we want to achieve is to provide 30% to 40% better
fuel savings and cut down in the emissions by a corresponding level, if not better. In
addition, our system will not need any new infrastructure or government subsidy. There are
no logistic problems associated with our technology and to sum it up, our technology is
elegant in its simplicity.”
CEOCFO:
Has steam been tried in the past as a power source for cars?
Mr. Mitha: “Steam has been a known
source of fuel for hundreds of years. We know steam contains tremendous energy. All one
has to do is to know how to use it in a smarter way. The reason it has not been done so
far, to the best of my knowledge, is because no one has explored how to store steam and
use it later. Professor Fred Bayley figured it out through the process of the Steam
Accumulator and that was the key to his technology.”
CEOCFO:
You have moved into your own facility this past summer; will you tell us more about the
progression?
Mr. Mitha: “We started this project in
April of 2006; we purchased Mazda RX8 and started to work from our temporary facility. We
moved into our own facility, which is an ultra modern, state-of-the-art fully equipped
facility. Last June, we started to test the Mazda RX8 extra engine, just on hot air and
the results were impressive. As we speak, we are starting to test the spare engine
strictly on steam. The Steam Accumulator will be delivered to us sometime in the middle of
March (2007) and at that point, we will start to test our hybrid fuel steam and gas
(petrol) technology. That process is anticipated to last about 4 to 5 months and if all
goes well, steam accumulator will be fitted into our Mazda RX8 and we will be testing it
on the road.”
CEOCFO:
That is a fast progression for a new idea!
Mr. Mitha: “Indeed. We are not creating
a new technology here. Gas/electric cars work well, but the cost of the battery is
extremely expensive. In addition, the upfront cost to acquire a gas/electric car is
expensive. With regards to ethanol, we read articles everyday that the
net…net…net fuel savings for ethanol is, at best modest according to its
critics. The jury is still out there. Our technology is quite simple; steam is a proven
technology. So let’s use it. Why are we trying to create or reinvent a new
wheel?”
CEOCFO:
Will this have to be built into the new car when it is originally made or can it be an
add-on?
Mr. Mitha: “It will be an OEM (original
equipment manufacturer) or a new engine. Every engine is differently configurated, so what
we intend to do is to license the technology to any and all interested parties and let
them figure it out how they want to place the Steam Accumulator and steam valves within
their engine compartment. I should mention that by using the Steam Accumulator, people
might question, how will we fit it in a tight engine compartment space? We intend to take
out the radiator because we will not need the radiator. The Steam Accumulator can perform
the functions of the radiator.”
CEOCFO:
Development is expensive; how are you funded?
Mr. Mitha: “We have an extremely and
highly enthusiastic group of individuals who have become shareholders within our company
and we are well funded as of now. We are in negotiations for a long-term funding with a
couple of lenders and hopefully, we will finalize these negotiations in the coming weeks.
That funding will take us to meet our 3-year projections. Of course having said that, we
will look at offers from other investors, if the terms are friendly. Never say no to
money”
CEOCFO:
People are always looking for alternative forms of energy, but why do you feel this is a
good time for your steam technology?
Mr. Mitha: “This is a million dollar
question, because in technology it is all about timing. If the timing is right, the
technology will get traction. Why I feel our technology will succeed is for a number of
reasons; first, we are not developing anything new that will require additional
infrastructures, which are extremely expensive. We are not creating anything alternative
that will try to displace or replace the existing fuel. We are not creating a new
technology, but we are using the existing know-how to use the energy power in a better and
smarter way.
It should be remembered that all alternative
technologies that we are talking about are called alternative fuel technologies, meaning
that they are alternative to something and that something is oil/gas (petrol). What we are
saying is that we are the only technology that is oil company friendly and that is one of
our greatest assets. The reason I say this is quite simple; when oil prices are high,
people tend to drive less and conserve gas (petrol). That is a known fact. When the
operating cost of running an automobile is low, people tend to and will drive more.
Economics work in your favour. If we can provide 30% to 40% better fuel savings, people
will naturally drive more. If they drive more they use gas more, so we are oil-company
friendly. Moreover, the consumers want fuel savings and cut down in the emissions. People
are environmentally conscious. They want greener-friendlier cars. Our technology will
provide both. For all these reasons, we feel that we will be successful.”
CEOCFO:
Address potential investors that may be looking at the company now and tell us what does
not jump off the page that people should know?
Mr. Mitha: “People make up their own
minds and base their decisions on their investment criteria. When you look back, people
wish that they had invested in Microsoft (NASDAQ: MSFT) in 1988. Our technology is unique
and futuristic. We are the only one that is developing this type of hybrid fuel steam/gas
(petrol) technology and not an alternative fuel technology. I think this is a tremendous
platform for investors to jump in now in order to reap greater benefits down the road. It
is as simple as that. By investing now, they will look back with pride and I guess, with a
smile on their face when the technology is formally unveiled to the public.”
CEOCFO:
Any closing thoughts?
Mr. Mitha: “We see tremendous potential
in the Steam Accumulator Technology and I should mention that our technology will not be
limited to cars. We intend to turn this technology to use diesel and steam combined. By
doing that, we will be able to help the trucking industry to lower their operation costs.
With our technology, the trucks will be able to idle for longer period of time and yet
reduce emissions. To look in the longer term, our technology will be available for use in
locomotives, nuclear power industries, oil industries and any other industries where steam
can be or is generated and can be used in combination with regular fuel. We cover a wide
spectrum in the longer term, but in the immediate term it is the automobile industry that
we are focusing on.”
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