Both Andrea Rossi and Industrial Heat owner Tom Darden are mum about the settlement they signed to end their lawsuit. Although Rossi confirmed it has been signed on his Journal of Nuclear Physics blog.

Rossi also confirmed that the QuarkX version of his e-cat low energy nuclear reaction (LENR) device has a new name – E-Cat QX. The inventor also confirmed that he is planning for a public demonstration of the device at some point in the future on July 14, 2017, (Bastille Day). No date  for the demonstration was revealed.

Darden; Chief Executive Officer of Cherokee Partners (a private equity fund), has been silent on the matter. Although YouTube video of a speech he made at the University of North Carolina in March has surfaced at ecatworld.

In the video Darden mentioned three LENR inventors he thinks are “promising” but did not name them. He also admitted that Cherokee had invested in a dozen LENR projects. Not surprisingly Darden did not mention Rossi or the lawsuit.

Tesla Unveils World’s Largest Electric Storage Facility

Tesla Motors (NASDQ: TSLA) has unveiled the world’s largest electric storage facility in Jamestown, South Australia. The giant battery farm operated with the French Energy company Neoen is capable of storing up to 100 megawatts (100 million watts) of electricity generated by nearby windmills. That’s enough to power 4,000 homes for 24 hours.

Elon Musk is now claiming that Tesla can get such facilities up and running in a hundred days. “Tesla will get the system installed working 100 days from contract signature or it is free,” Musk tweeted in response to an Australian fan’s question.

Is World Facing an Oil Shortage within Five Years?

The world might be facing a major oil shortage in just five years, Armin Nasser, the CEO of one of the world’s largest energy companies Saudi Aramco said in a speech, Market Mad House reported. Nasser thinks under investment in oil exploration and development will lead to a shortfall of 20 million gallons of oil a year and higher gas prices.

One person who likes that is Elon Musk who unveiled the Tesla Model 3 on July 7. Production of the affordable electric sedan is beginning at his factory in Freemont, California.

Musk is not alone, 143 electric vehicle models are scheduled to hit the road by 2022, Seeking Alpha contributor Anton Wahlman noted. Around 115 of them are scheduled to appear in 2022 right in time for Nasser’s energy shortage.

One has to wonder where the electricity for those vehicles will come from. Rossi and others had better busy and get LENR working fast because we might soon need it.