Professor Francesco Piantelli the man whose nickel-hydrogen cold fusion research formed the basis for Andrea Rossi’s work is ready to begin work to develop an industrial Low Energy Nuclear Reaction (LENR) device. Piantelli believes that he can build a working prototype that could be used as the model for industrial devices.

Professor Piantelli is so confident in his device that he is planning to sell shares in a company called Metalenergy. Metalenergy will raise money finance research at Piantelli’s existing company nicHenergy. The money will be used to fund a laboratory that will develop generators. No website for Metal Energy currently exists. nicHenergy has a very limited site up which provides no details.

A friend of Piantelli Roy Virgilio released a statement that indicates construction on either generators or the laboratory has begun. Investors will be paid dividends based on the profit from the sale of the generators or licenses for the technology. The generators will first be sold in Europe.

Virgilio stated that the generators will be in the 100 watt to seven kilowatt range. He didn’t specify whether this indicates watts of heat or electricity. Virgilio stated that Piantelli thinks he has mastery of the phenomenon. He also stated that Piantelli is working with unknown associates. These associates could be members of the Cold Fusion Energy Inc. consortium which also includes Peter Hagelstein at MIT and George Miey.

Shares in Metalenergy will cost between €100 and €1000 Euros ($125.45 to $1254.5 US). Virgilio didn’t say how people could buy the shares or if non-Italians would be able to invest in the company. Piantelli would like to raise between €50,000 and €100,000 for his work although I have a feeling he’d welcome more. The nature of the shares or the powers they would give to shareholders are not specified here.

Hopefully major venture capitalists and generous billionaires like Sidney Kimmel will step up to the plate and bring their checkbooks. Note it might be possible to reach Professor Piantelli through the Nichenergy website which is still under construction.

The Video above is of Valerio Ciampoli an associate of Piantelli’s at nicHenergy who spoke at the Atom Unexplored Conference in Turin on May 4

Pinantelli is taking a real serious risk here. The professional skeptics will now undoubtedly accuse him of being a con man. He will have to deliver a working a device at some point or he could end up in serious legal trouble. I don’t think a man like him would risk his reputation unless he actually thought he could make good on those promises.

Unlike some LENR developers Piantelli has maintained a low profile. He has also criticized Andrea Rossi for making bold statements. Rossi has condemned Piantelli before. Piantelli formerly worked with Sergio Focardi who is now working with Rossi.

It looks like Piantelli’s Nichenergy which is apparently based in Milan, will become the fourth company to claim to be about to deliver a commercially viable LENR device. The others are Rossi’s Leonardo Corp based in Bologna, Italy, Brillouin Energy Corp in Berkley, California, USA and Defkalion Green Technologies in Greece. So far none of these companies have unveiled a working device but Rossi has held public demonstrations.

Hopefully this competition will stimulate the industry and the development of this technology. Several competing LENR technologies and companies would be the best way to move the industry forward. The whole situation is reminiscent of the early days of the auto and computer industries when many different people were tinkering around in the garage or backroom developing new technologies.