Company
Randell Mills, the founder and CEO of BlackLight Power, received a degree in Chemistry from Franklin & Marshall College in 1982, and later studied biotechnology and electrical engineering at MIT, and graduated from Harvard Medical School. Claiming a potential power source that "represents a boundless form of new primary energy" and that will "replace all forms of fuel in the world," he founded the company in 1991 as HydroCatalysis Inc. It was later renamed to BlackLight Power Inc. By 2000 Mills raised $25 million in funding for the company, recruiting several researchers to sit on the board, which subsequently included representatives of venture capital firms and as well as a former CEO of Westinghouse, and an ex-deputy director of the Nuclear Regulatory Commission. Mills is the chairman of the board, president and CEO. Former directors of the company have included turnaround expert Michael H. Jordan and General Merrill McPeak.
By 2009 BLP had raised about $60 million in venture capital, and claims to have commercial agreements to license BLP energy technology for the production of thermal or electric power to utilities and private corporations. Mills envisions that CIHT (Catalyst-Induced-Hydrino-Transition) cell stacks can provide power for long-range electric vehicles. Mills claims this electricity will cost less than 2 cents per kilowatt-hour, compared to an 8.9 cents per kilowatt-hour national average. In 2010 the company claimed that "CIHT technology was independently confirmed by Dr. K.V. Ramanujachary, Rowan University Meritorious Professor of Chemistry and Biochemistry". This was based on company-funded experiments by Rowan University researchers and a scientist consulting for GEN3 partners, all conducted with BLP direct involvement and which remain unpublished in peer reviewed journals.
A subsidiary formed in June 2006 as Molegos Inc. and renamed as Millsian in October 2006, offers a molecular-modeling software-application based on "CQM" theory.
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