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WOW AWE Fund \\\Re: Meeting Dave Santos in Sommariva Perno

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  • dave santos
    Note: This message was withheld for a few weeks as it contained information under nondisclosure and to allow internal (WOW) stakeholders prior notice of
    Message 1 of 2 , Jun 30, 2011
      Note: This message was withheld for a few weeks as it contained information under nondisclosure and to allow internal (WOW) stakeholders prior notice of certain particulars. It was a reply to an earlier post by Mario Marchitti. The latest news from the KiteGen team is that small scale kite flights have just begun on site. An upcoming post will detail the "WOW America" biz plan announced below ("intoxicating news").

      ================================

      It was a highlight of my EU AWE Tour for Carlo Perassi, an WOW board member and control engineer to take me to see the KiteGen utility-scale experimental project. I got to meet Mario Marchitti, an aeronautical engineer also on the WOW board, and directly see progress toward completing the giant prototype. The effort is credible and heroic, but the next stages will be the toughest, with many new lessons to absorb, because the project pushes the AWE critical-path painfully hard. 

      We must salute the Italian AWE community & its vision. The WOW investment fund is unique, the first to attract many small investors with a diversified AWE investment approach, now poised to quickly grow from its initial multi-million dollar level to the many billions required to truly perfect our technology. Carlo Perassi outlined WOW's vision at AWEC2011 to a receptive audience. Besides its pioneering utility-scale experiment, the WOW Fund/holding_company strategy includes diversification supporting an ever broader selection of AWE teams. A Top-Ten Italian institutional investor (NDA only) looks like a promising near-term partner. There is a pending public campaign to raise funds in the US investment market. "WOW America", a subsidiary to the Italian parent, could be bigger than when the Beatles landed on US soil.

      A new WOW direction, as the new funding kicks in, is R&D support of low-complexity small-scale systems that are already working well as prototypes. This includes KitEnergy (Mario Milanese's start) and the sort of small systems needed for global Energy Equity of disadvantaged populations (KiteLab Group's focus). New contenders will be validated by field-trials (think ARPA-E) and the best systems brought to market for crucial early revenue. If you are getting good results from your AWE prototypes, WOW is eager to work with you. The WOW delegation personally visited PierreB (who could not attend AWEC2011) in France on their way to the conference (in a big motorhome that carried us back to Italy). WOW also hopes to direct support to third-party academic research, as funding grows, a critical area badly neglected by previous venture investment.

      Several companies in the high-end AWE space, such as Ampyx, SkyMill, and Makani/Joby, are beginning to actively partner with WOW. It was nice to find Grant had already established a close WOW-SkyMill relationship (Boeing & Sikorsky connections are in play). If your AWE team is a strong contender & wants to join a key part of the community dynamic emerging from AWEC2011, register your intent with WOW; don't get left behind. Please vollunteer to launch WOW America (pre-revenue with sweat-equity). The diversification of WOW is also calculated to help keep the KiteGen project on-track to meet its ambitious goals in the next few years.
    • mmarchitti
      Dave I restate my last word of the message you refer to: http://tech.groups.yahoo.com/group/AirborneWindEnergy/message/3630 Finally we discussed about
      Message 2 of 2 , Jun 30, 2011
        Dave I restate my last word of the message you refer to:

        http://tech.groups.yahoo.com/group/AirborneWindEnergy/message/3630

        "Finally we discussed about financing the high altitude wind. My concern is that we have to be very cautions in creating eccessive enthusiasm and expectations, that can be a boomerang for the technology. From one side there is the speculative attitudes, like the new economics dotcom bubble, that in the raising phase can give a lot of money to whichever idea. From the other side, as WOW company has followed, there is a clear and precise project that an investor can see and check for its validity. In fact WOW raised a good amount of money thank to the open days where investors could speak with the KiteGen team, thank to the conferences and to a lot of documentation that were made available to the investors."

        I was among the WOW founder peoples, with the biggest share at that time. I think I was the first among them who first came to know the KiteGen, when the name was different, KiWiGen (I could send you pages and pages of WOW story...).

        I externally followed the development of the KiteGen project, and, speaking frequently with the inventor, I could acquire some knowledge on the high altitude wind techniques and projects. In this field there are projects that have no hope, others that are just fakes, others that are based just on a group of students or enthusiasts. I therefore recommend you to pay extreme attention on the move that will be taken. A failure, like some we have witnessed, could reverberate on the whole community. In fact, time ago I spoke with Leonardo Maugeri, one of the top manager in ENI, the Italian biggest company in the energy field, I told him about the high altitude wind projects. He replied saying that he saw something about in California, but was not promising, and he was not impressed.

        It is necessary first to focus on an idea, to carefully investigate on the project technology, on the people that are working on etc.

        The enthusiasm is OK, the ecumenic attitude is OK. But we must not forget that the right technology and the right people working on is of paramount importance. We must be very cautious.

        --- In AirborneWindEnergy@yahoogroups.com, dave santos <santos137@...> wrote:
        >
        > Note: This message was withheld for a few weeks as it contained information under nondisclosure and to allow internal (WOW) stakeholders prior notice of certain particulars. It was a reply to an earlier post by Mario Marchitti. The latest news from the KiteGen team is that small scale kite flights have just begun on site. An upcoming post will detail the "WOW America" biz plan announced below ("intoxicating news").
        >
        > ================================
        >
        > It was a highlight of my EU AWE Tour for Carlo Perassi, an WOW board member and control engineer to take me to see the KiteGen utility-scale experimental project. I got to meet Mario Marchitti, an aeronautical engineer also on the WOW board, and directly see progress toward completing the giant prototype. The effort is credible and heroic, but the next stages will be the toughest, with many new lessons to absorb, because the project pushes the AWE critical-path painfully hard. 
        >
        > We must salute the Italian AWE community & its vision. The WOW investment fund is unique, the first to attract many small investors with a diversified AWE investment approach, now poised to quickly grow from its initial multi-million dollar level to the many billions required to truly perfect our technology. Carlo Perassi outlined WOW's vision at AWEC2011 to a receptive audience. Besides its pioneering utility-scale experiment, the WOW Fund/holding_company strategy includes diversification supporting an ever broader selection of AWE teams. A Top-Ten Italian institutional investor (NDA only) looks like a promising near-term partner. There is a pending public campaign to raise funds in the US investment market. "WOW America", a subsidiary to the Italian parent, could be bigger than when the Beatles landed on US soil.
        >
        > A new WOW direction, as the new funding kicks in, is R&D support of low-complexity small-scale systems that are already working well as prototypes. This includes KitEnergy (Mario Milanese's start) and the sort of small systems needed for global Energy Equity of disadvantaged populations (KiteLab Group's focus). New contenders will be validated by field-trials (think ARPA-E) and the best systems brought to market for crucial early revenue. If you are getting good results from your AWE prototypes, WOW is eager to work with you. The WOW delegation personally visited PierreB (who could not attend AWEC2011) in France on their way to the conference (in a big motorhome that carried us back to Italy). WOW also hopes to direct support to third-party academic research, as funding grows, a critical area badly neglected by previous venture investment.
        >
        > Several companies in the high-end AWE space, such as Ampyx, SkyMill, and Makani/Joby, are beginning to actively partner with WOW. It was nice to find Grant had already established a close WOW-SkyMill relationship (Boeing & Sikorsky connections are in play). If your AWE team is a strong contender & wants to join a key part of the community dynamic emerging from AWEC2011, register your intent with WOW; don't get left behind. Please vollunteer to launch WOW America (pre-revenue with sweat-equity). The diversification of WOW is also calculated to help keep the KiteGen project on-track to meet its ambitious goals in the next few years.
        >
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