A major British investment fund headed by a prestigious player in the City of London could be putting money into Low Energy Nuclear Reaction (LENR) research including possibly Andrea Rossi’s e-cat technology.
Woodford Investment Management has joined Cherokee Investment Partners in investing in LENR research, Cherokee’s CEO and Founder Tom Darden revealed in an interview with Fortune. Darden did not reveal the extent of Woodford’s investment or say exactly what LENR projects it was funding.
Woodford Investment Management is a relatively new fund organized by Neil Russell Woodford CBE. CBE means Commander of the British Empire for my fellow Americans so he has been honored by Her Majesty the Queen.
Woodford is an investment industry veteran who previously ran the Invesco Perpetual Income and the Invesco Perpetual High Income Founds. At Invesco Perpetual Income Woodford managed around $15.75 billion (£10.60 billion) in funds, at Invesco Perpetual High Income he managed around $20.74 billion (£13.64 billion). He also worked as Head of UK Equites at Invesco Perpetual.
This is very good because it sounds as if another serious investment organization with access to significant capital is investing in LENR. This could give individuals such as Andrea Rossi, Mitchell Swartz, Alexander G. Parkhomov, Piantelli, Cellani and the team at Brillouin the money they need to commercialize their technologies.
Darden told Fortune that his fund has invested $10 million in LENR work including Rossi’s. Unfortunately Mr. Darden did not say what the other LENR technology he has invested in.
When asked why he invested in LENR, Darden noted that he is aware of nearly 50 reported positive cold fusion tests. He mentioned work at the US National Laboratories at Oak Ride and Los Alamos and SRI (possibly Michael McKubre’s work). He also mentioned work at the Electric Power Research Institute or EPRI. The EPRI is a think tank and research organization associated with the US electric power industry.
Fortune’s Brian Dumaine described Darden as “a no-nonsense, investor with a sharp eye on the bottom line and a successful track record.” He also described Cherokee Fund as managing $2.2 billion private equities, which indicates he has a lot of money to throw at LENR if need be.
Interestingly enough Darden is not entirely convinced of LENR’s reality. He admitted the idea of cold fusion violates the laws of fusion but he thinks there is enough evidence to verify LENR.
“Breaking those bonds at much lower temperatures is inconsistent with the laws of physics, as they’re now known,” Darden said of LENR. Yet he voiced some hope.
“Low temperature fusion could be consistent with existing theories, we just don’t know how,” Darden noted. “It’s like when physicists say that according to the laws of aerodynamics bumblebees can’t fly but they do.”
He concluded with an intelligent note and admitted that it will take a long time to get LENR up and running.
“I don’t want to say that cold fusion is real until we can absolutely prove it in ten different ways and then persuade our worst critics to join our camp,” Darden concluded.