WATERBANK® PARTNERS I SEED CAPITAL FUND
WaterBank® has been approached by a number of individuals who have developed new technologies or have proposed specific projects to us. They usually have tried to interest large companies in their technologies and they have been discouraged by telephone answering systems, unknowledgeable secretaries, voice mail, unreturned telephone calls, and corporate executives and venture capitalists who have no understanding of either their technology, its place in the market, or whether is it properly timed to enter the market.
WaterBank® has created a panel of distinguished industry-oriented technical experts to evaluate technologies and projects so that we can focus on those that have the promise of market successl. These opportunities come to us before they ever reach the venture capital stage.
WaterBank® is now establishing its WaterBank® Partners I Seed Capital Fund
WaterBank® has hired Mr. Tony Burger to prepare our business and marketing plan. Our initial fund will raise $10 million for three specific projects with the possibility of adding others if funding permits. We will fund the following projects and technologies:
WaterBank Hydropower, BT - WaterBank has control of 200,000 acre feet of water annually on the East Fork of the Carson River. We will move these adjudicated water rights to the California - Nevada Border and as it drops 300 feet to the Carson Valley floor, we will build an estimated 10 Megawatt hydropower plant. The power will be sold for about 13 cents per Kwh.
Funds are required for the pre-feasibility and feasibility and licensing activities. We intend to finance an EDB (engineer, design, build) project through a New York investment house.
Rapid Spray Desalination. - RSD is a new twist on existing technology which will be associated with electric power projects and other sources of waste heat. In the desalination industry very small increases in process efficiency lead to huge savings in cost and large profit potential. This technology has already been reviewed by two of our technical experts. Patents exist on the process. Funds will be used for construction of a proof-of-concept unit. The POC unit will be used to develop life-cycle energy and mass balance data. We have already identifies clients worldwide.
FAST Technology - FAST technology is a new technology for extracting underground formation fluids for analysis and for conducting flowing well and shut-in pressure tests. Shell Oil in Europe has told our German associates that our oil and gas tool (pat. pending) can save them $700,000 per test in the North Sea. Based on our own expertise in this area, we can reliably say that the market potential is worldwide. The first patent on this technology was issued in December 2003. Funds will be used to complete patenting, testing, and marketing.
This is not a solicitation or offer for participation in the WaterBank® Partners I Seed Capital Fund. Any such solicitation or offer will only be made to qualified investors who have contacted us before the creation of the fund and in locations where the solicitation or offer is llegally available. It is also only made through a prospectus for the fund which is in preparation as of April 7, 2004.
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