AdvisoryCloud exceeded my expectations. Within two months, I had a team of highly specialized advisors on board ready for action. These advisors are experts and executives from Fortune 500 companies in four different countries
Client: Petram Technologies | CEO: Frank Magnotti
Founded: 2017 Location: Cambridge, MA
Industries: Technology, Construction, and Demolition
Petram Technologies transforms fracking and rock blasting into a clean, safe, and green industry through its use of patented technologies, innovation, and environmental concern.
When NASA was exploring options to blast rocks on the moon or Mars, traveling hundreds of thousands of miles through space carrying explosives, combustible chemicals or high-power jack hammers was not an attractive option. As a result, NASA funded a project with Auburn University to develop an alternative. Petram Technologies acquired the exclusive rights to this patented technology and expanded its use to include demolition and construction applications on Earth.
Petram is literally bringing space-age technology to the blasting and construction industries. Using just a small amount of a non-toxic liquid electrolyte (an ounce of water for example), high power electrical pulses and a patented blasting tip, Petram can create calculated blasts for rock fracturing, soil compaction to improve the strength of concrete pilings or seismic detection that is clean, green and safe without using any chemicals or explosives. The process is called Electro-Hydraulic Fracturing (EHF).
Frank Magnotti is the former founder of Comverge and CEO of Fluitec and has experienced success in bringing clean technologies to market. He founded Comverge (NASDAQ: COMV), the first smart grid company to go public in 2007, and was the CEO of Fluitec, winner of the Top Cleantech Innovation Awards at the Cleantech Forum in New York and Paris in 2010 and 2011. Having strong intellectual property and a world-class CEO is the starting point for a successful business, however, Mr. Magnotti recognizes the importance of building a team of experts to help drive a ground-breaking technology solution to commercialization.
“We are bringing to market environmentally friendly, safe and economical alternatives to explosives, jack hammering and traditional seismic surveying for fracking. Our EHF solution can be used in urban settings and along roadsides because it virtually eliminates vibration, noise and dust pollution, prevents traffic re-routing and improves safety. Who would have thought that blasting could be a cleantech solution?”
“Finding expert advisors that are associated with construction, demolition, mining, and oil and gas exploration industries is a big enough challenge, but finding experts that have experience in blasting and demolition as well would be nearly impossible. I had to go beyond my network of colleagues to find qualified candidates, so I decided to work with AdvisoryCloud.”
While Mr. Magnotti needed highly specialized expertise, he also wanted advisors who would have flexibility with their time, such as retired executives. He also thought it was important to find advisors who would like to do something that is good and meaningful for the environment. He wanted individuals who cared about making an impact in the world.
The board posting on AdvisoryCloud platform requested executives to apply if they had expertise in blasting, explosives, rock crushing, demolition and/or high voltage. Within the first two weeks, AdvisoryCloud provided Mr. Magnotti with 20 potential candidates. He narrowed the selection to eight candidates based on their credentials and worked with AdvisoryCloud to schedule interviews. After the interviews, Mr. Magnotti selected four executives and offered them a board position. Each one accepted the opportunity.
“When I joined AdvisoryCloud, I wasn’t sure what to expect. I thought I might find maybe one or two people eventually. AdvisoryCloud exceeded my expectations. Within two months, I had a team of highly specialized advisors on board ready for action. These advisors are experts and executives from Fortune 500 companies in four different countries,”
In November 2017, Frank’s advisory board successfully came together and completed their first clean fracture, a monumental moment in their team building process. With the help of AdvisoryCloud team, Frank is effectively utilizing his advisory board as an incredible asset to move his vision for Petram Technologies forward.
“AdvisoryCloud gave me access to perfectly matched and exceedingly talented professionals I never would have found otherwise. My advisory board consists of experts and executives from Fortune 500 companies in four different countries. AdvisoryCloud exceeded my expectations. Within two months, I had a team of highly specialized advisors on board ready for action,” said Magnotti.
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