RenewableEnergyStocks.com (RES) a leading investor and industry portal for the renewable energy sector presents an exclusive online audio interview with Jonathan Read, President and CEO of Alchemy Enterprises, Inc. (OTCBB: ACHM). In this interview Mr. Read discusses the development of the Company’s electric vehicle system, their relationship with Jet Propulsion Laboratories, in addition to a look at factors within the renewable energy market that are creating opportunities for Alchemy and its technology.
In addition to the nation’s quest for energy independence, there continues to be a significant push to preserve and protect our environment. There is evidence of support for this on a variety of levels including the recent climate pact signed by British Prime Minister Tony Blair and California Governor Arnold Schwarzenegger in an attempt to reduce greenhouse gas emissions caused in large part by fossil fuels. As a result, the nation and the energy market is embracing alternative technologies in particular within the transportation sector.
As Jonathan Read explains, “The greatest emphasis and perhaps the most enthusiasm lies in the use of hydrogen as an alternative fuel source. The problem with hydrogen has always been that it is a volatile and unstable gas, and hence problems in its transportability, explosiveness, and volatility in terms of leakage. We are using magnesium as our base product in our reactor. Of extreme importance is that the magnesium, when it is used in our system, is recaptured and can be recycled and used in our system within a 24 hour period as a fuel catalyst for us. In that regard and considering that we produce no emissions, no toxins, no explosive materials and no flammable materials, we are really disrupting hydrogen technology as we know it and replacing it with magnesium, power-on-demand, hydrogen-on-demand, for the hydrogen systems that are in place.”
Alchemy is in a unique position through their relationship with NASA and JPL as they work on the development of their fuel cell system. “Jet Propulsion Labs is a joint venture between NASA and Caltech and are under a task plan with us whereby they undertake all the research, development, prototype development, testing and ultimate construction of the first prototype under our auspices. We in essence have the resources of one of the largest and most successful research and development labs in the world working on our product,” explains Read. This relationship has recently expanded as JPL, through Caltech, has become an eight percent shareholder in Alchemy.
From a market perspective Alchemy has identified the public transportation as their primary target. “It is clear that our system has the best potential for both cost-savings and environmental savings so we are looking first at the public transportation sector and that would be quickly followed on by delivery vehicles such as Federal Express, UPS, US Postal Service and followed thereafter by widespread use in automobiles.”
Alchemy is also planning in the future to work with ‘major oil’ offering them Alchemy’s fuel and fuel recycling systems to be used in their distribution network.
In terms of the initial launch of Alchemy’s product, the Company expects to have their first major city bus, equipped with their power cell technology, on the road in the first quarter of 2007.
To Listen to the Online Interview Please Visit: renewableenergystocks.com/Audio/ACHM/0806/default.asp
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Source: RenewableEnergyStocks.com, Alchemy Enterprises