An Ottawa inventor working in collaboration with boxing champion Manny Pacquiao is in the midst of parlaying a new source of hydroelectric power into a potential $100-million energy deal in the Philippines.
Fred Ferguson, CEO of Waterotor Energy Technologies, has created the Waterotor — a device capable of harnessing energy from slow-moving water currents. The small rolling drum-like invention functions in anywhere from one to six-mile-per-hour currents, generating power by capturing the torque or push of the water.
“The device is the only one in the world that can achieve a high level of energy efficiency at these speeds,” he said.
The company has created a 10 kilowatt and 20 kilowatt unit. On its own, a single Waterotor doesn’t provide a substantial amount of energy. Ferguson said a single 20 kW unit would power about 10 homes per year at the North American standard of energy consumption. But he said multiple units can be placed side by side or in ladder formation to create a greater amount of energy for a region.
And while he admits other forms of hydropower are much more efficient, he said they rely on high water speeds and are unable to maximize the vast amounts of slow moving currents in the world.
Because of this, he believes the Waterotor could become a major source of renewable energy that could compete with or even replace non-renewable energy sources.
“You could easily power the entire eastern seaboard by putting these in Florida in the Gulf Stream,” he said. “There is nothing to suggest that, with this technology, you couldn’t build a 200- or 300-foot unit. People don’t realize water is 830 times more powerful than wind at the same speed and there are 110 major ocean currents on the planet.”
Ferguson said his private Ottawa company of 20 employees has tested the invention and is close to bringing it to market.
And while nothing has been finalized, the Waterotor may make its debut in the Philippines.
Last year Ferguson was introduced to boxing star and Filipino congressman Manny Pacquiao.
“Pacquiao and I connected and got along great,” Ferguson said. “He flew me down to his home in the southern Philippines and he asked if we would set up a partnership.”
Ferguson said he met with top government officials to negotiate a deal to bring a thousand 20-kW units to the country. He said the cost of the deal is valued at $100 million.
“I think it’s going to end up as a joint venture between (Ferguson) and us,” said Michael Koncz, who is Pacquiao’s manager and adviser. “It’s a tremendous help because there are still a lot of people, especially in (Pacquiao’s) region of Sarangani, that don’t have electricity. So this will be our pilot project to expand it throughout Asia.”
According to the World Bank, there are more than 15 million people in the Philippines without electricity.
While this initial investment would provide power for 15-20,000 people, Ferguson explained the Philippine government would also like to license the product so they can manufacturer the Waterotor themselves. He said they eventually plan to operate 10,000 units.
A spokesman for the Philippine embassy in Ottawa said he was not aware of a deal to bring Ferguson’s invention to the island nation, but he said the government is actively pursuing different ways of providing electricity for those without.
And for Ferguson, if all goes according to plan, he said he may be sitting on a billion-dollar invention.
“It’s like going from an apple to being Apple computers inside of a year,” he said. “It’s crazy stuff. But the technology is that good.”
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Promoted by Top Rank® and Sands China Ltd., in association with MP Promotions and Tecate, Pacquiao vs. Rios will take place Saturday, November 23 at The Venetian® Macao’s CotaiArena™. It will be produced and distributed live by HBO Pay-Per-View®, beginning at 9:00 p.m. ET / 6:00 p.m. PT.
For Pacquiao, boxing’s only eight-division world champion, this marks the pound-for-pound box office monarch’s 2013 debut as well as his first fight outside the U.S. since his 12-round super featherweight unanimous decision victory over former world champion Oscar Larios in 2006, which took place in the Philippines. Rios, one of boxing’s most exciting fighters, has only fought outside the U.S. once, in México in 2008 when he won a 10-round split decision over Ricardo Dominguez.
For fight updates go to www.toprank.com or www.hbo.com/boxing, on Facebook at facebook.com/trboxing, facebook.com/trboxeo or facebook.com/hboboxing and on Twitter at twitter.com/trboxing, twitter.com/trboxeo, twitter.com/hboboxing and twitter.com/pacrios.
