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So, I have finished all my due diligence calls re: CleanAir Stoves. After my call with Kris Balderston I was able to confirm that their fuel technology is a good one but that it just hasn’t figured out a way to breakthrough yet. Talked to Rick Leach who said if it is Ethanol based that it is a problem with those (like Rick) who are concerned that it is taking a food source away from people that need it - said Ethanol from corn waste is fine just not in favor of growing corn solely for a fuel source. I talked again to the company and they clarified to me that the key component of their fuel source is that it is alcohol based - not necessarily ethanol. Could be methanol as well. If that is the case, I feel less concerned about Rick’s concerns. Methanol can come from wood chips, etc.

If we would work with them the idea would be to 1) work with key policy stakeholders in DC from NGO world to help gain some support for an alcohol based fuel source for clean stoves and 2) find potential commercial partners that they could potentially license technology to or potentially make an investment.

Questions: 1) Do you feel comfortable with me putting a proposal together for them? 2) How much would you be comfortable charging - was thinking $12,500 for six months but may come down to $10K for six months but would build in a success fee component and 3) I feel like I could handle most of this myself, but would you be willing to work on this a little? Do an initial strategy meeting with them and keep your ears open for potential contacts for them?

If you are comfortable with #1, 2 and 3, I’d like to get them a proposal by the end of the day tomorrow (Friday). Let me know. Thanks.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>
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