The Next Big Future blog is reporting that Brillouin Energy Corporation has raised a “second stage” $20M investment conditional agreement from Sunrise Securities Corp of New York, NY ” (conditional on BEC moving ahead with and completing successful testing of its NHB at SRI).
If this is true it will make Brillouin the best capitalized (richest) low energy nuclear reaction (LENR) company. It will also make it the company with the most access to the market. Sunrise is real bank that claims to have raised $40 billion for businesses all over the world. In the last few years it has raised $3 billion for 65 companies. Sunrise also operates Sunrise Equity Partners a fund that makes direct investments in public companies.
Next Big Future reported that there are some strings attached to Sunrise’s offer. Brillouin will only get the money if Brillouin’s LENR boiler technology is successfully tested at SRI International. Brillouin will have to acquire or build a small scale power plant and successfully convert it to LENR. That means they’ll have to prove they can use Brillouin’s hot tube boiler to generate large amounts of electricity.
If the deal goes through Sunrise will apparently own a 15% interest in Brillouin. This is definitely good news because it shows that an LENR company is actually able to raise money in the venture capital markets. It also shows that there are some venture capitalists that have the courage and vision to invest in this technology.
Hopefully this will be the first of many venture capital deals that we’ll be hearing about in the future. Maybe Jet Energy , Andrea Rossi, Francesco Cellani, and Francesco Piantelli should give Sunrise a call. They seem to be willing to take a chance on LENR.