Wireless charging company OLEV Technologies secures second angel round, reorganizes
6 January 2014
OLEV Technologies, Inc. has secured a second round of angel funding and has appointed Bryan S. Wilson as CEO and President. OLEV Technologies is the exclusive licensee of the Shaped Magnetic Field in Resonance (SMFIR) technology and the On-Line Electric Vehicle (OLEV) wireless EV charging system, which were originally developed at the Korea Advanced Institute of Science and Technology (KAIST). (Earlier post.)
The technology has been successfully demonstrated on buses at the KAIST campus since 2009. The first commercial deployment of the OLEV wireless charging technology was put into operation in July 2011 at Seoul Grand Park, where three 100-passenger trams provide daily shuttle services to visitors at a theme park near Seoul, South Korea.
Since then, additional commercial deployments went into service at locations such as the World Expo site, Yeosu and Jeju Island in South Korea during 2012. In August of 2103, OLEV began providing service to the City of Gumi in South Korea with two buses that continue to run a 24 km inner city route. The buses receive 100 kW electricity at an 85% maximum power transmission efficiency rate while maintaining a 17 cm air gap between the underbody of the vehicle and the road surface.
OLEV has greatly improved its inductive technology from the early development stage by increasing its power transmission density by more than three times. The size and weight of the power pickup modules have been reduced as well, resulting in greater efficiency.
Bryan Wilson spent the last 12 years developing and improving infrastructure for the wireless communications industry. The multimillion-dollar company he founded in 2002 provided infrastructure development services for major broadband wireless corporations, a business that was profitable in its first year of operations and posted over 45% average annual growth in its first six years.
Bryan successfully managed all aspects of real estate-based technology applications including: site identification; municipal bidding; leasing; design; regulatory compliance; zoning approval; construction management; site marketing; and contract negotiations.
OLEV Technologies will continue to benefit from specific expertise in the field of power electronics and electromagnetic engineering with Vice President of Engineering, Roger V. Burns. Executive Board Members continuing to support OLEV Technologies are: Dr. Nam P. Suh, ex-President of KAIST, Cross Professor Emeritus of MIT, former director of industrial firms and universities, and the recipient of the 2009 ASME Medal; Dr. Byiung Jun (“BJ”) Park, former Chairman of MTL, Inc.; and A. Neil Pappalardo, founder and Chairman of Medical Information Technology, Inc. (MEDITECH), and member of the MIT Corporation.
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