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Dearth of financing stalls inventor of 110-mpg engine

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posted on May, 28 2010 @ 01:32 PM
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Link to Source:

The Toledo Blade




WAUSEON - A year ago, hundreds of people flocked to a 100,000-square-foot former factory building in Wauseon's industrial area where a Napoleon, Ohio, inventor promised to begin building engines that would travel more than 110 miles on a gallon of E85 gasoline. But time and the economy have not been kind to Doug Pelmear's plan to revolutionize the American automobile.


It is hard to believe with so much money handed out in the form of government bailouts that this guy get enough capital to get his engine production up and running.



[edit on 5/28/2010 by zlastonetoknow]




posted on May, 28 2010 @ 01:40 PM
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why? it is not the time to improve old tech and refine the gasoline engine, so it would be a poor investment of time and money. It is the time to make motors that do not use non renewable resources, that would be a much better investment. Electric and other types of vehicles are already being produced.



posted on May, 28 2010 @ 01:53 PM
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So where are these new engines and this new technology?

I agree that technology needs to be developed, but here is a project ready to go, that works now, but nobody wants to pony up the bucks.



posted on May, 28 2010 @ 06:20 PM
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reply to post by zlastonetoknow
 


He's not seeking traditional sources of funding:


Mr. Pelmear said he hasn't sought money from more traditional capital sources such as investors, selling stock or bonded indebtedness, because such sources would likely cost him control of HP2g LLC - something he's unwilling to provide.


Well other car companies can't exist without stockholders, why does he think he's any different? It takes a lot of capital for an operation like that.





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