Mike Agrelius with Case/IH transmission
specialist Ron Blessing
Jeppson meeting with Mr. Cho, |
CEO of TIC in one of their factories
September 25-28, 2012 – After hosting Pittsburgh Power owner, Bruce Mallinson, in Provo for initial meetings, Jim Jeppson, VP of Marketing, flew out to Pittsburgh Power's headquarters in Saxonburg, PA. Jeppson was there to determine Pittsburgh Power's ability to develop the Universal Transmission for Class 8 trucks and to help create a business plan they could use to attract investment funds specifically for the UT project. Jeppson was impressed with their small but expert operation. He reported that Pittsburgh Power does have the expertise, manpower and facilities to accomplish what they claim in developing the Universal Transmission. The challenge will be to prepare documents that will attract various investors in Pittsburgh Power's network.
|U.S. Senator Hatch, Gary Lee and |
Richard Nelson, Director of the UTC
Chosen from the Finalists, the Award winner will be announced May 1, 2012 at a banquet in Salt Lake City.
Korea Gear Manufacturer Wants To Build The W-10 Prototype
Will Visit VMT week of March 12.
March 2, 2012 -- TIC of Changwon City, Korea is sending a senior representative during the week of March 12 to VMT's offices in Utah to conclude talks on TIC's desire to build the first W-10 prototype. They also wish to be the manufacturer for all future customers of the revolutionary W-10 gearbox for wind turbines.
Japanese Consortium Representatives Tour VMT
February 24, 2012 - Three senior representatives of a major Japanese anufacturing consortium specializing in wind turbines arrived Thursday, February 23, 2012 at the VMT office in Provo, Utah. They stated, "the technology is most impressive" after seeing the P-2 model performing. VMT is pleased that they are now working with their corporate legal department on a Letter of Understanding to do business with VMT.
Japanese Company Bringing Decision Makers to Utah
Feb. 13, 2012 – After visiting with VMT engineers on his own, the US representative of a multi-billion dollar Japanese company has convinced two executives from the home office in Asia that they shouldn’t wait any longer to see for themselves what the Universal Transmission has to offer the wind power industry. The meeting is scheduled for the week of Feb. 20.
VMT Is Awarded Additional Patent
Feb. 10, 2012 -- Continual domestic and international protection of VMT’s intellectual property rights regarding the "breakthrough" Universal Transmission for the wind power industry was evidenced on February 7, 2012 when the US Patent Office issued Patent No. 8,109,852. This patent adds to VMT’s first US patent No. 7,892,129 (issued February 22, 2011), the Canadian Patent No. 2,654,078 (issued July 19, 2011), and the Korean Patent No. 10-1099568 (issued December 21, 2011). The company has also received notice that the first Japanese patent has been granted but it has not been received as of this date.
Key Players in Wind Power Evaluating VMT’s “Mechanical” CVT
Jan. 24, 2012 -- Three different manufacturers of wind turbines have visited VMT’s offices in the last month to evaluate the technology that one called “potentially disruptive to the industry.” Two of the three companies are among the top ten turbine manufacturers in the world. The companies have expressed interest in VMT’s claim that their W-10 Gearbox can deliver a high torque, constant synchronous output, while eliminating most of the power electronics without the use of hydraulics or friction.
Investment Banking Group Targets Key Manufacturer Investors for VMT
Jan. 15, 2012 – InterOcean Advisors, LLC, a Chicago based investment bank for the manufacturing sector is seeking $5 to $10 million dollars to further the commercialization of the VMT Universal Transmission for wind power (W-10) and trucks (T-24). InterOcean has composed a compelling 35 page report on VMT to interested parties. They also have a one page intro piece outlining the unique investment opportunity of VMT they have begun to send to 55 targeted candidates.
AWEA’s Operations, Maintenance, & Reliability Conference Reveals Gearbox Problems Not Going Away
Feb. 9, 2012 – VMT vice-president of marketing, Jim Jeppson, reported from the AWEA (American Wind Energy Association) conference in San Diego that wind farm developers still see that one of the most costly things associated with running a wind farm is unscheduled maintenance. Continued gearbox problems top the list despite claims from manufacturers that the problems have been corrected.
Asia Acknowledges VMT/Korean Patent Issued, Japanese Patent Granted
Dec. 21, 2011 – South Korea issued VMT a patent (Patent No. 10-1099568) today and the Japanese Patent Office has notified VMT that their patent has been granted but not issued. These patents along with US patent No. 7,892,129 (issued February 22, 2011) and the two Canadian patents issued earlier this year establish VMT’s unique claims and rights worldwide.
VMT Executives Take Their Show on the Road to Europe, Asia, and South America
Dec. 19, 2011 – Universal Transmission inventor and founder, Gary Lee, and VMT business development partner, Mark Stoddard, met with two major wind turbine manufacturers as well as a key truck transmission manufacturer in Europe this week. While Lee and Stoddard were in Europe, other VMT representatives were meeting with key wind players in South America and Asia. All the meetings have the net results of ongoing discussions with four wind manufacturers and two automotive/truck manufacturers. The Universal Transmission has applications for wind power, vehicle, and maritime use.
InterOcean Investment Banking Firm To Represent VMT
Dec. 2, 2011 – InterOcean Advisors, LLC has prepared documents and is identifying potential investors for VMT’s game-changing technology. InterOcean has finalized their research and selection of about 55 targeted VC groups that are looking for innovative green technologies that are early seed and pre-revenue. The goal is to narrow their search to five very qualified companies that are interested in VMT.
US Firm Launches Novel CVT Device
Eize de Vries, Windpower Monthly Magazine, December 1, 2011
The overall operational benefits of continuously variable transmission (CVT) devices are gradually attracting the attention of wind-turbine manufacturers. Currently there are a few options around including a new CVT for wind turbines up to 3MW, which has been developed by US-based VMT Technologies. Click here for article.
Universal Transmission Interest Piqued by Truck Applications
Nov. 22, 2011 – After months of focusing on wind power, VMT has had a new company approach them with an interest in using the Universal Transmission in an innovative truck application. The company located in Tennessee is interested in pursuing a joint venture with VMT to create a business plan for Class 6 truck transmissions. It is all predicated upon their ability to raise the now $1.5 million that will be required for this project and the building of the prototype.
Chinese Company Sees Potential for Universal Transmission in Asia
Nov. 19, 2011 – VMT’s representative in China brought the chairman of the board from a major Chinese oil group to meet with VMT engineers. Interested in emerging technologies, this group is in the oil and petroleum services field in at least 15 different countries around the world. VMT had presentation converted to Chinese. The result of the meeting was that the chairman stated VMT had clearly completed the first stage of validation of the technology, and he was interested in proceeding with the next stages -- getting the product built, tested and ready for commercialization.
VMT Finds Answers at the AWEA Fall Symposium
Nov 7, 2011 – VMT attended the AWEA (American Wind Energy Association) Fall Symposium where the leaders of the wind power get together to discuss issues (this is not a trade show, but rather an intimate gathering of top executives). In addition to getting glimpses of market and industry trends, the past chair of AWEA when VMT’s technology was explained to him stated, “It’s good to have people working on those kinds of innovations, gearboxes remain this industry’s Achilles Heel.”
International Patents Continue to be Granted to VMT’s Universal Transmission
Nov. 1, 2011 – Korean Patent "Notice of Allowance" has been issued. South Korea’s patent issuance will join the Canadian and U.S. patents that have already been issued. The Utah based company has filed patents in several other countries and is awaiting word on their status.
Investment Banking Firm Engages with VMT
Nov. 1, 2011 – VMT has entered into a formal relationship with InterOcean Advisors, LLC to act as exclusive financial advisor with respect to raising long term capital. InterOcean is a Chicago-based investment banking boutique focused on providing M&A and capital sourcing services to manufacturing companies. They have broad experience in capital sourcing transactions under $75 million with more than 30 years experience.
Conference Updates and Further PR
Oct. 17, 2011 – VMT was invited to represent wind power innovation at the 2011 Global Commerce Conference on renewable energies in Colorado. Noted speakers and those educated about VMT’s revolutionary technology were former Colorado Gov. Bill Ritter, Jr. (major renewable energies advocate), Colorado's Director of Energy TJ Deora, Dr. John Coors, and several others.
VMT Meets with NREL
Oct. 13, 2011 – VMT visited the NREL (National Renewable Energies Laboratories of the Department of Energy) test site in Boulder, Colorado. The purpose of the meeting was for VMT to better understand what NREL offers private businesses involved in wind power in terms of testing and evaluating new technologies.
Provo Company Hosts International Giants
Oct. 12, 2011 – VMT Technologies, a company with a “game-changing” way of designing gearboxes/drivetrains for wind turbines and trucks have met with Allison, Dana, Eaton, Borg Warner, AVL, Ford, GM, Chrysler, Honda, Toyota, Hyundai, Subaru from the automotive industry. More recently VMT has had discussions with Hanson, Vestas, Gamesa, and others. JaKe (Jahnel-Kestermann) and representatives of Brazilian companies have met with VMT in Utah to see firsthand the metal bench model that proves their technology is viable for the wind power industry.
Notice of Second U.S. and Canadian Patents Received by VMT
Oct. 10, 2011 – VMT has received notice that the second U.S. patent and the second Canadian patent will be forthcoming. VMT has also received a Notice of Allowance from the U.S. Patent Office that a second patent filed in 2007 to further solidify their claims has also been approved.
TIC Joins VMT in a Shift of Focus
Oct. 1, 2011 – TIC (Tongil Industries in Korea) has agreed to shift their commitment from making VMT’s truck transmission to making the wind W-10 prototype and testing it.
VMT Seeks Government Grants
Sep. 13, 2011 – SAIC (Science Applications International Corporation), a major government contractor, contacted VMT and expressed an interest in learning more about potential transmission applications in the military heavy vehicle market. SAIC plays an integral role in the defense department’s organization in improving HUMVEE military vehicle fuel efficiency, performance, and in reducing maintenance issues and costs. SAIC has worked with DARPA for grants and works with the Defense Department.
Variable Speed Hard-Geared Transmission May Improve Wind Power Efficiency 5 to 10%
Windpower Engineering, Sept. 2011 issue
A variable-ratio transmission that uses gears and chains, but no belts, has been introduced for licensing and production by inventor Gary Lee, CTO of VMT Technologies…Lee says the Universal Transmission overcomes problems of conventional CVTs by using a metal chain with teeth that are always engaged with the moon gears on which it rides, so it transmits power more efficiently than a friction-based design. He says the moon gear solves what has been called the partial tooth integer problem. Click here for article.
CVT for Wind Turbines?
SnowTech Magazine, Sept. 2011 issue
A Utah inventor annoyed by his snowmobile’s CVT transmission may have found a way to improve wind turbines…After years of work he’s designed a prototype of a recently patented transmission that he claims could make wind power profitable and help that industry move away from subsidies.
VMT Buys Off on Proven Chinese Business Model
Aug. 8, 2011 – VMT entertained Chinese consultants and their specific way of doing business in China. A detailed explanation of proven methods of how, when, where, and with whom to do business in China was given to executives at VMT’s office at the Novell Technology Center today. After hearing from several other companies and individuals in recent months with respect to commerce and business relationships in China, VMT agreed in principle to deal with this consultant and operate within his company’s business model with respect to the country with the largest presence in wind energy in the world.
Canadian Patent Now In Hands of Utah Innovators
Jul. 19, 2011 – VMT has received the first of several foreign patents on their unique, high torque mechanical CVT from Canada. VMT has also received a Notice of Allowance from the U.S. Patent Office that a second patent filed in 2007 to further solidify their claims has also been approved.
Could a New Transmission System Make the Wind Power Industry More Profitable?
Brendon Bosworth, New West Energy, June 8, 2011
Lee’s invention, the Universal Transmission, has the capacity to absorb the shock of variable winds and keep the turbine’s generator, which creates electricity, spinning at a constant speed, explained Dick Wilson, CEO of VMT Technologies, the 12-person Provo company, where Lee works, that holds the patent for the Universal Transmission. The company has built and tested a metal bench-scale prototype of the transmission, which has not yet been tested inside a wind turbine or vehicle. Click here for article.
An Energy Production Windfall
Emily Haggstrom, ICOSA Magazine, April - June, 2011 edition
After years of research and development, what Lee created was a similar weight transmission that required no clutch or torque converter. This specialized, positively engaged Continuously Variable Transmission (CVT) can change speed at incrementally infinite ratios in response to wind gusts and speeds, allowing the gearbox within the transmission to act more as a shock absorber than a metal grinder. “You could be going one mile an hour with the transmission engaged and you can then change the gear or the ration inside the transmission and go 1.2 miles per hour,” said Lee, giving an idea of just how small and quick the internal transitions are. Click here for article.