Mr. Eveleth’s whole career, since receiving his MBA from Cornell University, has been in small start-up companies. In the last decade or so, Mr. Eveleth has been on the founding team of Cyclics Corporation, Veratag, Inc., Ener-G-Rotors, and HocusLocus as discussed below:
· Cyclics Corporation purchased 49 patents from General Electric Company for a unique type of plastic. While at Cyclics, Mr. Eveleth led the negotiation to sell market rights to Dow Automotive for $5 million, oversaw the close on a $65 million project financing and building of a plant in Germany, assisted in raising over $40 million in equity and equity related debt, managed growth from five to one hundred employees, and negotiated the purchase of the technology and subsequent amendments with General Electric. Mr. Eveleth served as Chief Financial Officer (4 years), Chief Operating Officer (three years), and Chief Executive Officer (two years) while also serving on the Board of Directors.
· Ener-G-Rotors is commercializing a product that more efficiently converts low temperature heat, from industrial, solar or geothermal sources, into electricity. As Chief Operating Officer, Mr. Eveleth wrote and was awarded grants from the New York State Energy Research and Development Authority worth over $1.6 million, from the Department of Defense for $750,000, and an $800,000 48C Advanced Energy Project Tax Credit from the Department of Energy and the Internal Revenue Service.
· Veratag licensed a microelectromechanical system (MEMS) based technology from Cornell University for use in the security field. Mr. Eveleth wrote the Phase I and Phase II SBIR proposals which were funded by the National Science Foundation.