Who We Are
FCET, Inc. (FCET) is a private, closely held company that has developed ground- breaking, performance-tested, patented fuel cell technology.
FCET’s record-breaking low operating temperature for its fuel cells allows it to cut the cost of producing them to about half the costs of competitors, and it overcomes the challenges that competitors face with a fuel cell’s rapid material degradation from high operating temperatures.
In short, FCET can produce a simpler, less expensive, and more efficient product than its competitors.
And because FCET’s patented technology is scalable up and down, the number of potential applications is large, and the company can target a wide range of multi-billion- dollar industrial sectors globally—many of which are not open to higher-cost competitors.
Perhaps most important of all, FCET’s numerous patents will protect over the next ten+ years the $16 million it has invested to date to acquire, develop, test, and perfect its fuel cell technology.
FCET is now transitioning into the business-planning phase in order to turn a profit on what it has accomplished technologically. The company now is focused on producing prototype “demos” so that they can be deployed and tested in several industry sectors, generating sufficient orders and strategic alliances around the world to justify building a mass production facility in the United States.
As it heads to commercial launch, FCET will also build out a topflight team qualified to manage the business aspects of generating profits in an emerging fuel cell industry that has to date not been profitable.
FCET has operated for over a decade “under the radar,” but recent press releases generated meaningful inquiries from major players in both private industry and the public/governmental sectors, both domestically and internationally.
FCET is close to completing the final phase before launch into the marketplace, building scaled-up demos and providing further testing verification from some of the world’s most widely respected independent testing laboratories. This makes for exciting times for the FCET family, including shareholders, present and future.
Kathy Ireland Interviews FCET CEO
FCET Management Team
Mr. Deininger has served as CEO and a member of the Company’s board of directors since 2014. Mark Deininger has played four key roles as CEO of FCET: (1) overseeing the development and protection of the Company’s intellectual property, (2) driving technical development of the Company’s fuel cell towards a rapid deployment strategy, (3) fostering relationships with R&D institutions and manufacturers that can serve as strategic partners during the pilot plant rollout period, and (4) designing and implementing a corporate structure capable of attracting capital, manpower and expertise. Mr.Deininger is a named co-inventor on 13 patents or patents pending (five of which are fuel cell patents).
Mr. Deininger was the first American to be invited to engage in the transfer of technology directly from the Russian Space Agency to the US. After acquiring several promising technologies, he founded and served as president and general counsel of the Russian-American Technology Alliance, Inc., and then as president of C3, FCET’s predecessor, from 2000 to 2009. Mr. Deininger also served as a member of the Advisory Committee to the High Temperature Materials Lab at Oak Ridge National Laboratory (2006- 2007). Mr. Deininger has served as president of C3 and Holdings since 2011 and was member of the board of directors of C3 from 1999-2009 and 2011-2018. Mr. Deininger had chemistry studies prior to receiving a degree in Economics from Davidson College, N.C. He subsequently received his J.D. degree from the University of Georgia School of Law.
Matt Ferguson, Chief Operating Officer (COO)
Matt Ferguson entered into an employment contract with FCET on January 1, 2019 to serve as FCET’s COO for a two-year term, with an automatic renewal for a third year.() Mr. Ferguson earned a degree in petroleum engineering from Texas A&M in 1999. Over the last 20 years Mr. Ferguson has accumulated experience working in the oil and gas energy space in capacities that include: (i) sale and distribution of new products, (ii) development and successful growth of new companies, (iii) web-based direct sales and marketing, (iv) back-office management of vendor, legal, accounting, finance and technology, (v) engineering, design and implementation of drilling and production facilities, (vi) negotiation, closing, and transition of substantial asset acquisitions, and (vii) strategic planning and team building in regard to all of the above.
Mr. Ferguson has experience in the oil field market space that FCET is about to enter. FCET’s initial market entry will be in the oil and gas space. Mr. Ferguson is positioned to deploy one or more of FCET’s fuel cell systems at Viceroy Petroleum (discussed below) well sites. Having a demonstration site proving the viability of FCET’s fuel cell system and the diminution of methane gas emissions is an important benchmark for 2019. Since Mr. Ferguson worked for ExxonMobil after graduating A&M he has the experience to deal with customers both from small family-owned production assets and large tracts held by corporations.
Mr. Ferguson’s background qualifies him to oversee (with the assistance of Paul Fisher) the design, installation, and operation of equipment needed to manufacture and assemble FCET’s fuel cell systems. In addition to being co-founder and president of a coil tubing plugging company, Matt Ferguson personally labored and supervised projects involving the assembly and installation of facilities at over 350 wells that cover flowing, beam pumping, progressive cavity pumps, jet pumps and drilling while optimizing operating techniques. He also brings to FCET’s management team an engineering skill set critical to the manufacture, installation, and maintenance of fuel cell systems in the energy space and other markets.
Mr. Ferguson’s role as FCET’s COO is enhanced by his experience as President of Viceroy Petroleum. For the past 16 years Matt Ferguson has accumulated back-office experience as President of Viceroy Petroleum – managing vendor accounts, legal affairs, general accounting practices, finance, communications, governmental and security concerns as well as human resources. Mr. Ferguson has experience managing tens of millions of dollars of production equipment and assets in excess of $70 MM, and has been involved in developing quality control protocols and the procedures for installing and maintaining oil and gas production processes at over 350 oil and gas production sites.
Mikhail Pozvonkov, Executive Vice President and Chief Scientist; Board Member, PhD
Mikhail Pozvonkov has served as Chief Scientist and as a member of FCET’s board of directors since 2011. Dr. Pozvonkov is the principal inventor of all C3 and FCET fuel cell patents. Dr. Pozvonkov has been instrumental in the development of all C3 and FCET technologies over the last 17 years. Dr. Pozvonkov studied chemistry, mechanics, and cryogenics at Moscow University of Chemical Engineering. After graduation, he worked in the Solid-State Physics Department of the Kurchatov Institute for Atomic Energy, a world- renowned national laboratory in Russia comparable to Oak Ridge
National Laboratory in the U.S. Dr. Pozvonkov conducted R&D for 22 years in fields such as low- temperature physics, superconducting materials, high magnetic field systems, and heat transfer in super fluid helium. He was twice recognized as Scientist of the Year by the Kurchatov Institute, and was also awarded a bronze medal at the Soviet Union Scientific Show for his work on the world’s first “Superconducting Plasma Fusion Tokamak T7 Reactor.” Dr. Pozvonkov worked in R&D for the Minnesota Valley Engineering Company and then the testing department of Siemens Energy and Automation after immigrating to the United States in 1993. Dr. Pozvonkov and Mr. Deininger met in 1994 and have worked together ever since.
Paul Fisher, Vice President of Manufacturing and Marketing; Chairman of the Board; Board Member
Paul Fisher has served as Vice President of Manufacturing and Marketing and as a member of FCET’s board of directors since 2014. As Vice President of Manufacturing and Marketing, Mr. Fisher has guided the development of FCET’s solid oxide fuel cell in the lab and steered the final product towards a design that can be scaled-up easily and cheaply with inexpensive materials and off-the shelf manufacturing equipment. Mr. Fisher’s wide range of experience with manufacturers and laboratories make him uniquely qualified for this critical function.
Mr. Fisher’s experience in the design of manufacturing processes includes:
Business Manager of Electronics at Liquid Control Corp., where he was responsible for sales and marketing of automated meter-mix-dispense equipment to electronics manufacturers worldwide (including those involving vacuum application), for management of the electronic application engineering department, and for preparation of equipment price proposals and quotations. Vice President of Hedrich Vacuum Systems North America (US and Germany), where he managed all North American business (marketing, sales, installations, shipping, spare parts, technical service, trade shows, etc.) and sold highly automated and customized production equipment to companies such as Delco (General Motors), Ford, Diamond Electric (Chrysler), Bosch, General Electric, ABB, Siemens, and Schneider.
Mr. Fisher’s laboratory background includes service as:
Operations Manager, International Research Center at Courtaulds Aerospace, where he reported to the senior corporate vice president of technology and, among other things, renovated the entire corporate R&D lab facility in Burbank, CA. Technical Supervisor, Dielectric Liquids & Optoelectronic Products at Ciba Geigy Corp., where he was manager of chemists and technicians conducting research and development on formulated resins sold to electronic device manufacturers (e.g., Hewlett-Packard, IBM, Siemens). Senior Research Associate, Electronic Materials Group at Stauffer Chemical Corp., where he was the inventor on U.S. Patent 4,761,335 for transfer metallization of thin film sputtered copper (for finer line/space flexible electronic circuitry) while developing such products as transfer-metalized thin- film circuitry and wafer-dicing/die-attach film for companies such as National Semiconductor and IBM. Director of Thin Film Technologies at C3, where he investigated the technical and market applications for C3’s unique thin-film application techniques in areas such as solid oxide fuel cells, thin-film photovoltaic solar cells (principally, ‘CIGS’), quantum-dot PVs, printed electronics, light-emitting diodes (LEDs and OLEDs), energy-storage devices (batteries), photonic devices, memory devices (microelectronics), and others. Mr. Fisher was named a co-inventor on one of C3’s solid oxide fuel cell patents.
Neal Mitra, Senior Financial Advisor (CFO elect)
Neal Mitra served from 2014-2016 as the company CFO and has since served as a part-time consultant in the role of Senior Financial Advisor. Mr. Mitra has more than 20 years of experience as a corporate advisor, venture capitalist, and private equity investor. He previously was involved with two institutional equity fund managers that collectively deployed over $300 million across a range of venture capital, growth equity, and leveraged buyout transactions. Mr. Mitra began his career as a management consultant with McKinsey & Co. and Monitor Group, serving multi-national clients in the U.S., Europe, and Southeast Asia. At Monitor, Mr. Mitra helped to launch and expand the firm’s global marketing practice. His experience also includes oversight of global M&A activity for the McGraw-Hill Companies. He has an M.B.A. from Stanford University and master’s and bachelor’s degrees in mechanical engineering from the Massachusetts Institute of Technology. At M.I.T. Mr. Mitra received the Nissan Fellowship and graduated with Tau Beta Pi, Pi Tau Sigma, and Sigma Xi academic honors. Mr. licenses. Mitra holds the Series 7, 24, 27, 66, and 79 securities.
Kevin Baarson, Proposed Director of DoD Marketing
Kevin Baarson served part-time in 2017-18 as a consultant developing a plan to insert FCET’s fuel cell systems into the Department of Defense at several mission critical sites. He plans to become a full-time employee upon his expected return from overseas military duty in February 2019. Mr. Baarson has more than 13 years of leadership experience in logistics and operations with the US Army. He has served all over the world in various capacities, most recently as the Command Theater Airdrop Advisor for CENTCOM and Director of a Theater Operation in Southwest Asia. Mr. Baarson has a B.S. in environmental science from the University of North Carolina – Wilmington. He also has an M.B.A. and an M.S. in finance from Northeastern University. Mr. Baarson holds a certificate in Geographic Information Systems, has a Hazardous Waste & Emergency Operations Certification, and has completed Lean Six Sigma and APICS training.