New York Energy & Environmental Funders

Hosting Sponsor:
Dickstein Shapiro LLP - NEW LOCATION!

New Energy Solutions LLC is commercializing a major innovation in hydropower. The Company's hydroelectric Oscillating Cascade Power System or "OCPS" is the culmination of thirty plus years of research, engineering and testing leading to the development of a cutting-edge highly efficient hydropower generation technology based upon the phenomenon of "flutter." Flutter is a self-sustaining resonant hydroelastic oscillation that was first observed through its destructive impact on aircraft structures. More fundamentally, flutter is a self-excited oscillation of an object or assembly, caused by the interaction of inertial, elastic and hydrodynamic (or aerodynamic) forces.

The patented Oscillating Cascade Power System, or OCPS, consists of a row of submerged flat vertical plates (hydrofoils) mounted transversely across a moving stream of water, such as a river, ocean current or tidal flow. The operating OCPS is strategically positioned underwater in low to high-flow areas of a stream, creating no obstructions to navigation. In all cases, aquatic life may pass through the hydrofoils entirely unharmed. The system may either be fixed to the stream bed or bank, or may be mounted on a moored catamaran. OCPS modules may also be suspended from bridges or causeways, providing an independent revenue stream from such structures. This system may be installed at intervals, because the stream will recover its original flow rate at a certain distance downstream from the preceeding OCPS.

The patent application was approved by the International Search Office in 2007. Patent title: "Power transmission within the system is hydraulic with electric power generated through a hydraulic pressure accumulator summing the outputs of all the modules, to power a governed hydraulic motor rotating a synchronous electric generator."

The Company is a US-based business with technology capable of selling electric power into the grid, as well as servicing remote locations and facilities. Overall, the use of flutter provides clean, eco-friendly efficient capacity for electricity supply in the US and beyond.

NYSERDA awarded to New Energy Solutions LLC a Grant, numbered PON 1200, for up to $1.0 million, as of October 8th, 2008, and Consolidated Edison Company of New York is a strategic partner.

The Oscillating Cascade Power System employs the unsteady hydrodynamic self-excited phenomenon referred to as flutter (hydroelastic oscillation). This form of mechanism extracts power from the kinetic energy of flowing water, which in turn is a form of solar energy, resulting from the hydrological cycle. In this sense, the OCPS is a second order form of solar energy.

In a fluid stream where the flow velocity is equal to or greater than that required for flutter, power from the stream is absorbed by this oscillating system and converted into electricity. Flutter is the same phenomenon that led to the destruction of aircraft, indicating the magnitude of the forces involved. The Company demonstrated that a system of hydrofoils, in this case simple flat rectangular plates, arranged in a transverse row (cascade), absorbs energy from the kinetic energy of a flowing stream of water with an overall efficiency of 60%.

The OCPS has the ability to operate in a bidirectional water flow and is an ideal generator for tidal power plants. In 2000, the company's predecessor company, Arnold Systems, successfully performed instrumented tests on the OCPS at the National Research Council in Ottawa, Canada. This 0.56m2 (2x3 feet) system operated continuously in a 1.9m/second (6.3ft/second) water velocity with an overall efficiency of 60%.

v This instrumented proof of concept test is the first to demonstrate that electric power can be efficiently and economically generated from water by making use of the flutter phenomenon. Overall efficiency of hydroelectric power generation systems ("water-to-wire") typically varies between 35-50%. This performance would indicate a productivity improvement for OCPS of approximately 20% over conventional hydroturbines.

Howard C. Miller Jr., Chairman of the Board & Interim CEO, will present via teleconference the company's strategic vision, business plan, progress to date, and financing status will be presented by Jenny T. Morgan, CFO. The Company seeks funding in a Series "A" of $3.0 million for system engineering and to build its prototype leading to the Series "B" of the full-scale OCPS for final field testing, which brings New Energy Solutions LLC to the launch point of commercialization.

Sector Expert: Colin C. Kerr: EVP Director of Engineering, will tell the history of this technology, explain how it functions and describe its continuing development and potential.

Jenny T. Morgan, CFO, will introduce the team via teleconference.

Board of Director Member, Douglas A. Raelson and Advisory Board Member Andrew Russell will be in attendance at the breakfast.

NEW LOCATION - SEE DETAILS

Date: Friday, November 14, 2008
Time: 8:00 – 10:00 am
Place: Dickstein Shapiro LLP - NEW LOCATION!
1177 Avenue of the Americas, 47th Floor
(between 45th and 46th Streets on the West side of Sixth Avenue)

Security: Tell the personnel at the security desk in the ground floor lobby that you re attending the Center for Economic and Environmental Partnership, Inc. meeting at Torys LLP. You will need personal ID. They will issue a pass.

Cost: $50 if you pre-register.
Cash or checks (payable to CEEP) accepted. Must register or cancel by 4pm the previous day. No shows will be invoiced.
$60 if you pay at the door.
See below for Annual Registration opportunities and other important conditions.

Agenda:
8:00 to 8:20 – Networking with Members
8:30 to 9:00 – Presentation by Introduction of the team by Jenny T. Morgan, CFO and Company introduction via teleconference by Howard C. Miller Jr., Chairman of the Board & Interim CEO.
9:00 to 9:30 – Company presentation by Sector Expert: Company presentation by Colin C. Kerr, EVP Director of Engineering
9:30 to 10:00 – Discussion and Networking

Thank you, and we look forward to seeing you at the next NY Funders meeting.

If you have any questions about registration or need more information about the program, please contact Gelvin Stevenson at gelvin@optonline.net.

NEW LOCATION - SEE DETAILS

BIOGRAPHICAL SKETCHES:

Howard C. Miller Jr., Chairman of the Board & Interim CEO
Howard attended the Wharton School for both his undergraduate and graduate studies. In addition, he was an undergraduate instructor in the school's marketing department while attending the graduate program. Over the next seven years he worked for E.F. Houghton & Co. as a petrochemical sales engineer. He was then recruited into ITT through recognition of his consulting work while at Robert Heller & Associates. During the next ten years Mr. Miller helped to build and manage the company's industrial products division. He was promoted to ITT's group Vice President of consumer services, where he participated in acquiring and then managing the businesses that contributed more than a billion dollars in sales to the company. These units included; Avis, Inc., Sheraton Hotels, Canteen Corporation, Howard Sams Publishing Company, Airport Parking Company of America and Chandris Cruise Lines.

The following ten years were spent in the food industry as president of Canteen Corporation, a company whose sales under Miller's direction, grew from $300 million to over a billion. Early on, the firm was sold to TWA. He then became a director of TWA for the next seven years. His next position was as President of Avis, Inc., which had been part of his group at ITT. He again directed most of the restructuring of Avis to become a profitable division of Norton Simon after which it was sold. As one of the Managing Directors of FMR Corporation, the Boston based fund management firm (Fidelity), he was responsible for a major portion of their property development business. At that time, the company had absorbed significant losses in these investments, however with the support of FMR's senior management a restructuring and re-financing program brought it to profitability within two years.

Mr. Miller was Treasurer of the US Olympic Committee from 1994 through 1998 while he also served as co-chairman of the Seoul games in Korea. He also served as the National President of United Cerebral Palsy.

Colin C. Kerr: EVP Director of Engineering:
Colin is a graduate of McGill University in Montreal, Canada, with a BSc in Physics, followed by graduate studies and research, also at McGill University. His preparatory work for Ontario Senior Matriculation was performed at Upper Canada College in Toronto, where he was awarded the Mann Medal in Practical Science. Mr. Kerr has spent practically his entire career working with renewable energy technologies. He worked with Dr. Arnold on the OCPS since the 1980's while serving as Vice President of Engineering and Director of Windstream Power Systems Incorporated of Burlington, Vermont, designing and manufacturing wind and hydroelectric turbines and renewable energy power systems that are sold worldwide.

Colin is also the Technical Director of Investment Technology, an energy research and technology holding group. Colin served as Vice Chairman of an International Standards Committee and has been active in development of International Renewable Standards, including CSA and IEC.

Jenny T. Morgan, CFO
Ms. Morgan has over eighteen years of experience in investment banking, business & financial process management, consulting, finance, planning & performance management, international and domestic banking and finance, marketing & sales with expertise in mergers & acquisitions, strategic & financial analysis, corporate finance, recapitalization & leveraged buy-outs, as well as in institutional, derivatives, commercial, mortgage and private banking. She is a former executive from Citibank in Los Angeles and New York working in institutional, private, commercial and investment banking. Areas of proficiency in investment banking cover: finance & banking, media, sports & entertainment, aerospace/defense, energy, aircraft manufacturing, automotive, healthcare and general manufacturing. She is the granddaughter of the founder of Riddell football and in 1997 partnered with Ron Perlman, as well as directly engaged Jack Welch's services, in an attempt to reacquire the business.

Douglas A. Raelson, Member of the Board
Mr. Raelson is presently the General Counsel for Fisher Brothers in NYC.

Doug graduated from Dartmouth College in 1970 Magna Cum Laude and Phi Beta Kappa with honors in Philosophy, and attended New York University's Law School, graduating in 1974. He became a member of the New York State Bar in 1975. For the first two years out of law school, he was an associate in the litigation department at the law firm of Shea & Gould. Doug then joined Battle Fowler LLP in 1977 and was one of the founding members of the Real Estate Department (one of the pre-eminent real estate departments in the City of New York) becoming a partner in 1983. In 2000 Battle Fowler was acquired by Paul, Hastings, Janofsky & Walker LLP. As a real estate attorney, Doug was responsible for numerous multi-million dollar transactions throughout the country and was the head of the New York City office's hospitality practice.

Mr. Raelson departed Paul Hastings in 2006 to become General Counsel at Fisher Brothers. Fisher Brothers is a long standing member of the New York real estate community and owns, manages and leases over six million square feet of office space to major corporate tenants in midtown Manhattan. It is an active investor and developer of over 1.1 million square feet of office space in Washington, D.C., and is the developer of a substantial mixed-use project in Las Vegas, Nevada. The Fisher Family has been very active in charitable endeavors, having founded and supported the Intrepid Museum Foundation, the Intrepid Fallen Heroes Fund and the Fisher House Foundation, among others.

Doug has been the acting Manager of Arnold Systems LLC since April 1, 2000, having succeeded the Company's founder, Dr. Lee Arnold.

Andrew Russell. Partner The Pilot Group
The Pilot Group, a middle market private equity firm specializing in broadcasting and consumer products and services. Prior to joining Pilot Group at its inception in 2003, Andy was a Partner at East River Ventures, an early stage venture capital firm in New York, where he focused on digital media. He began his professional career as an Associate with Chemical Securities where he coordinated debt financing for transactions in syndicated bank loan and high yield debt markets. As an entrepreneur, he was responsible for conceiving and launching a company to develop and operate upscale hospitality ventures nationwide. His first flagship restaurant, Moomba, was referred to by New York Magazine as "The Hottest Spot in New York." He was a Merit Scholar at Cornell University where he received a Bachelor of Arts in Business and Psychology. He also received a Masters of Business Administration in Finance and Entrepreneurial Management from Columbia University Business School.

Robert Pittman (former CEO of AOL/Time Warner, founder of The Pilot Group) recently invested in New energy Systems and is on the company's Advisory Board of Directors.

Dr. Lee Arnold, Founder:
Dr. Lee Arnold is a PhD in Applied Mechanics from Columbia, and was a former chairman of the Guggenheim School of Aeronautics at NYU, as well as has been both an associate and partner of Dr. Theodore Von Karman,- who is considered to be the father of modern vortex theory. Dr. Arnold originally conceived the idea of generating power from flutter while working at Glenn L. Martin Co., as part of the Vibration and Flutter Group. He went on to head the Aeroelastic Group while at Republic Aviation, followed by working as an Engine Vibration Consultant to United Aircraft/Pratt & Whitney. During this time, Dr. Arnold formulated his theory into an applicable format, and in the 1980's Dr. Arnold and his scientific team began work in earnest. University Appointments: Columbia University Professor of Civil Engineering (Flight Structures) 1953-1958, New York University Chairman and Professor of Aeronautics and Astronautics 1958-1973, Director Guggenheim School of Aeronautics, Emeritus Professor of Applied Science, BA Duke University 1937 (Honors in Mathematics and Physical), MS California Institute of Technology 1938 (Mechanical Engineering, Engineering / Aeronautics), PhD Columbia University 1947(Applied Mechanics).

Dr. Lee Arnold was engaged in analyzing and solving the issue of uncontrollable and destructive force of flutter in aircraft structures, when he discovered the concept of harnessing and governing that same extremely powerful force for the purpose of generating useful power from a fluid flow (water or air). The physical and mathematical analysis of flutter, as applied to power generation, is not at all simple, and some features of the resulting formulas and equations turned out to be counter-intuitive.

NEW LOCATION - SEE DETAILS

Advisory Board

Mark Austin, Chandler-Reed
John Cusack, Gifford Park Associates
Ira Rubenstein, CEEP, Inc.
Gelvin Stevenson, Ph.D., CEEP, Inc.

NYE&EF Pricing Policy
1. Cost, with pre-registration up to 4pm the day before the meeting: $50.
2. No-shows will be invoiced.
3. Cancellations allowed until 4pm the day before the meeting.
4. Cost, with registration at the door the day of the meeting: $60.
5. All paid registrants will be emailed any information made available electronically for that meeting.
6. An Annual Registration for NYE&EF can be purchased for $400. It will provide admittance to all regularly scheduled meetings held during a 12-month period.
7. Annual registrants will be emailed any information made available electronically for any of the regularly scheduled meetings covered by their annual registration.

Formed in October 2001, New York Energy & Environmental Funders (NYE&EF) is a joint service of Investors Circle, the Energy & Environmental Capital Network (ECN), the Environmental Business Association of New York State, Inc. (EBA/NYS) and Investors Circle. NYE&EF provides networking, information, and other services to investors interested in energy and environmental companies. NYE&EF activities are produced by the Center for Economic and Environmental Partnership, Inc. (CEEP) in furtherance of its educational mission.

NEW LOCATION - SEE DETAILS

Click here to return to the CEEP, Inc. home page.