“Every road is an undeveloped energy asset,” Mark Nejmeh, President and Co-founder of MagKinetics Inc., told Khaleej Times. He is seeking an ‘Angel’ for his development stage renewable energy company with their patent pending technology.

“MagKinetics is reaching out to the world community bringing their opportunity in front of investors. Our technology takes moving traffic (kinetic energy) typically lost to the universe and converts it into electricity. No alteration to the vehicles is required,” he told Khaleej Times. Nejmeh explained: “Automobiles consume energy while giving nothing in return.

“Our clean energy generator units are set beneath a roads surface. Our technology is a smooth collector of energy that works in the same way as Michael Faraday discovered with electrical induction. Momentum of the generator is powered by the force created by the vehicles. Our goal is to produce 2 megawatts of power in a quarter mile.”

“Our business model is a full spectrum partnership plan inclusive of four main parties: the government, infrastructure builders, the capital markets, and MagKinetics Inc. Revenue comes from carbon credits, megawatts generated and sold, development appreciation, and licensing where necessary. Implementing this technology will create millions of jobs worldwide ranging from technology and manufacturing to green road construction,” he added.

“We are expecting the privatisation of roads across many regions of the world. Using our technology, roads become a new energy asset. We are sure that the sophisticated and mature investor from the Gulf region has the savvy necessary in energy and infrastructure development, and that’s why we are here,” Nejmeh pointed out.

He has already made presentations at the Fairmont Hotel in Dubai and to the Abu Dhabi University’s Dean of Engineering, Aly S. Nazmy.

“Nazmy is trying to develop a centre for excellence in energy research. MagKinetics is interested in doing research with Abu Dhabi University and supporting further development of their students. The professor said that they are working with other companies in the same area as well. MagKinetics looks forward to this possibility,” Nejmeh said.

“I hope that we will be able to move the world forward with our technology and with the assistance of the UAE community. Attracting interest in our company from the UAE citizens lets the rest of the world know that the concerns for clean energy and vision for the future comes from all corners of the world,” he said.

He also plans to visit Doha soon. The company is currently seeking $10 million and will be seeking another $5 million in 7-9 months.

“If we are to add a new variable to the ‘Peak Oil Theory’, eliminate green house gases, and take energy out of the peace formula. We must do it with passionate investors that put results before profits,” he said.