Cool Technologies Has Protected Its Revolutionary Generator-Equipped Trucks and Cooling Technology with Multiple Strong Patents
TAMPA, FL / ACCESSWIRE / July 31, 2018 / CEOCFO Magazine, an independent investment publication that highlights important technologies and companies, today focuses on the strong patent portfolio held by Cool Technologies, Inc. (OTCQB: WARM), which significantly increases the value of the company.
Cool Technologies has developed a mobile generation system that is already beginning to revolutionize the multi-billion market for providing electricity to areas without power, such as war zones, communities devastated by hurricanes, construction sites, or farmers’ fields. The company’s basic approach is to build an efficient generator right into a standard pickup truck, using the truck’s own engine and fuel tank to power the generator.
Much lighter and more efficient than current tow-behind generators, the system vastly expands the reach of mobile generation. “Wherever you can drive a truck, you can generate power,” Cool Technologies’ Chairman and CEO Tim Hassett explains in an interview with CEOCFO. “No one else offers that.” The company already has purchase commitments for 269 trucks, worth $22 million.
Just as important as the company’s technology and sales, however, is its intellectual property. Cool Technologies has seven U.S. patents, one Mexican patent, one pending U.S. patent application and two pending Canadian patent applications, adding up to a total of 11 current or pending patents. In addition, the company recently applied for PCT and non-provisional US patents covering its mobile generation system as well as the AI and gearing enhancements added over the past three years.
The patents cover not only the mobile generation system, but also the company’s unique cooling technology. That technology - a type of heat pipe - is used in Cool Technology’s trucks to boost performance and lower cost. But it has countless other applications as well, because it increases the efficiency and lifespan of electric motors, pumps, turbines and bearings as well as vehicle components such as brakes and clutches. As a result, “the possible uses include all process manufacturing such as cement, copper, steel and paper as well as oil and gas, pump and compressors, rail, hybrids and wind turbines,” Hassett says.
A key part of CoolTech’s business strategy is commercializing these patents. “We plan to license both our mobile generation system and our thermal technologies to a wide range of manufacturers in the consumer, industrial and military markets,” Hassett explains. “We expect that will bring in significant revenues as we move forward.”
This strong patent portfolio and intellectual property strategy make Cool Technologies an even more exciting company to watch.
SOURCE: CEOCFO Magazine