Archive for January, 2011
The rebirth
In December 1996, a penniless Andrea Rossi emigrated to the U.S.A., and was employed in a company specialized in systems that derive energy from biomass, the Bio Development Corporation, of Bedford, NH.
(7. January 2011)The capitulation – End of a dream
After these events, everything was sealed and distrained: quite simply, banks not only refused to grant any form of further credit to Rossi’s companies, but also demanded the immediate repayment of all credit previously granted – credit that had funded research, experiments, manufacture of machinery and equipment. It’s easy to see how, given the exponential growth of operations, there had been need for funds to finance a significant expansion.
(7. January 2011)The persecution
Quite abruptly, the materials used by Petroldragon for the production of fuel oil from secondary materials were declared by Italian law to be waste matter; as a consequence, Petroldragon’s operations, which had no permits or licenses for waste treatment, came to be considered illegal activities; the same applied to Petroldragon’s final products, previously considered fuel oil, and now labeled as waste. As a consequence, Omar refinery’s supply of raw material was cut off; and, considering that Omar also lacked the authorization to process waste, that company was considered outlawed as well.
(7. January 2011)