Law and Taxation: See the Forest and the Trees
Assistant Professor Luis Rodriguez Jr. at Alfred University
Mr. Peter White, Senior Tax Counsel at KODAK spoke to our MBA students during dinner at the Terra Cotta about International Taxation focusing on Transfer Pricing.
Peter has worked at KODAK for over twenty years, and brings a large range of practical corporate taxation and internal business experiences.
Mr. Craig Gestring is a career prosecutor. He has prosecuted criminal cases in State, Federal, and Military courts around the country. Gestring is an Assistant United States Attorney with the Criminal Division in the Western District of New York where he prosecutes a wide variety of federal crimes including environmental crimes, white collar crimes, frauds, threat cases, and gun crimes. Gestring’s cyber work includes prosecuting online crimes against children and coordinating cyber investigations involving BOTs, intrusions, and hacking.
Gestring is a combat veteran, having spent a long, hot, and dusty year doing Army stuff with an M-16 in the Al Anbar Province of Western Iraq.
Thermal Energy Storage gets no respect. At least not the respect it deserves. But thermal storage has been used for over a century and works extremely well. It has the lowest cost per kilowatt, the smallest volume per kilowatt—or, conversely, the highest energy density—of any energy storage technology.
Perryman Thermal Battery is poised to earn that respect, and today company representatives spoke to a room of potential investors, researchers, and other professionals about their technology and business potential.
Chemical Engineer Virgil Perryman has spent over six years developing and testing his technology. He has been granted two patents and applied for another one. The British Ministry of Defense tried considered his technology in its early years to be used by the British forces in Afghanistan, including a half scaled 13-ton unit that can powered command control for a forward base, a front line surgical unit and radar. They tested it for several years using heat generated by both solar thermal arrays as well as charging from AC or DC sources. The storage unit was then used to generate both heat and electricity as needed. Mr. Perryman originally build an 30 ton initial prototype in 2010 which stored up to 10 MW of thermal energy and subsequently improved the technology so the same containment could store 29.9 MW of thermal energy and could produce 10 MW hours of electricity and 18 MW hours of thermal energy, idea for situations where heat and power are needed. Currently, a European group (which cannot be named) is testing Perryman Thermal Batteries as back-up generators for wind and other intermittent energy generation sources. After 16 months of testing one system where energy must be stored for over 180 days, the units are preforming flawlessly.
The company plans to start installing its thermal batteries later this year. Mr. Perryman has developed one model about the size of a large home hot water unit; another is about half that size and is targeted for homes in the United Kingdom. The first commercial installation is set for a new green residential development England where construction is about to start.
It’s no surprise that the technology works; it is, after all, based on a technology that’s been around way longer than humans. The battery stores energy the same way the Earth stores energy—making it rather like your ultimate bio-mimicry technology. The earth has a molten metal core that’s over 10,800 degrees Fahrenheit. That’s about as hot as the sun! But the surface of the earth is about 60 degrees F. Why? Because of the multiple layers of refractory material between the core and the surface.
The company uses off-the-shelf magnetic induction to melt the nickel-iron core, which is surrounded by a special shield, which is surrounded by an alumina layer and layer of material very similar to the tiles used on the Space Shuttle tiles, a very efficient ceramic refractory which literally holds the heat in. Then there are more layers of ceramics of different density, all designed to trap the thermal energy, and finally a layer similar to the insulation you would find on your kitchen oven. The outside enclosure can be customized to various applications and for inside or outdoor use. Finally, the unit’s outside layer is warm to the touch (about 90 degrees F) but not hot; rather like the cooling fins on the back of a refrigerator. It is controlled by a touch pad with a remote-control option.
This is a proven technology, going back at least for 100 years. It has been used in the UK and throughout Europe. The Storage units can be safely transported by road, rail or sea, either un-charged or fully charged with 100 tons of molten steel and 29 MW of thermal energy.
It is a global battery, with the core from Austria, thermal transfer system from Germany, the controls from several suppliers including the USA, UK and Japan, and, finally, the closed loop steam generator from suppliers worldwide to allow local servicing and maintenance since it’s the only component with moving parts. While the supply chain may be complicated, the technology is simple.
