Perpetual Industries Inc. (OTC: PRPI)
Perpetual Industries Inc. (OTC: PRPI) is an incubator for the development of innovative, energy-efficient technologies aimed at commercializing products that have the potential to impact and advance a wide range of industries on a global scale.
The company’s team of experts and trusted industry partners have the resources to provide essential components needed to take projects from their initial stages through to the end products. Perpetual Industries values strict controls and high levels of quality through all stages of research, development, manufacturing and commercialization.
Perpetual Industries was founded by President, Chairman and CEO Brent W. Bedford in 2005. It is located in Auburn, Indiana.
R&D Portfolio Overview
Perpetual Industries is expanding expertise and knowledge of energy-efficient technology by developing low-cost, green energy solutions for various industries, including artificial intelligence, blockchain mining, graphic rendering, renewable energy, cloud computing and internet of things (IoT), all while continuing research, development and commercialization of its proprietary XYO Balancing Technology in key applications.
XYO Balancing Technology
XYO Balancing Technology delivers high-performance solutions for inefficiencies that commonly affect rotating equipment, machinery and devices. It is designed to harness rotor displacement energy to move compensating masses and automatically correct for imbalances, effectively reducing vibration.
Key highlights of the company’s XYO Balancing Technology include:
- Customized XYO balancers can be created for almost everything that rotates, providing virtually unlimited potential applications.
- XYO Balancing Technology is optimized specifically to eliminate vibration in rotating equipment and enable environmentally responsible products to operate more efficiently.
- Leveraging a proprietary design, XYO Balancing Technology is the result of over 25 years of research and development effort.
WindSilo – Vertical Axis Wind Turbine
Implementing its proprietary XYO Balancing Technology, Perpetual Industries’ WindSilo turbine improves balancing issues that are common in most wind turbines today. The company’s design is engineered to allow for much faster spin speeds and greater energy output.
The company believes that this innovative turbine design could eliminate the expensive traditional methods of balancing wind turbines while increasing their performance, reliability and efficiency.
In November 2020, Perpetual Industries announced that Trine University, a private post-secondary institution located in Angola, Indiana, had been awarded a grant to assist the company in the development of the WindSilo.
The XYO Washing Machine
Perpetual Industries is currently developing a proprietary domestic washing machine design implementing XYO Mechanical Balancers to dynamically compensate for variable mass imbalance during the spin cycle. The company expects these efforts to produce a number of benefits, including higher spin speeds, reduced energy consumption, decreased noise emissions and less mechanical wear & tear.
The company’s research shows tremendous market potential for a more efficient washing machine design. With an estimated 70 million washing machines produced annually and over 500 million used daily, even a small reduction in energy consumption could be pivotal. Reducing energy usage of all washing machines by just 15% would save enough energy to power the city of Milan. Perpetual Industries’ energy efficient design is expected to reduce energy usage by up to 50%.
Prototype testing of Perpetual Industries’ design has established the XYO Washing Machine as highly effective at reducing vibration when built into the spin basket assembly.
Green Energy Mining System
Using its expertise and knowledge of environmentally friendly technologies, Perpetual Industries is developing low cost, environmentally responsible energy solutions for powering large scale blockchain mining operations.
The company’s Green Energy Mining (GEM) System is being hailed as the next generation of energy efficient cryptocurrency mining. Powered by renewable & surplus energy sources such as wind, solar, natural gas, wind and geothermal that utilize battery storage technology, the platform addresses rising demand for computing power.
Renewable Energy Market Outlook
The global renewable energy market was valued at $928 billion in 2017 and is expected to continue expanding at a CAGR of 6.1%, resulting in a value of $1.5 trillion by 2025, according to Allied Market Research (https://ibn.fm/C06xF). Hydroelectric power is projected to be the most lucrative segment of the entire global renewable energy industry, followed by the wind, bioenergy, solar and geothermal segments.
Worldwide Auctioneers Acquisition
In January 2021, Perpetual Industries announced its acquisition of The Worldwide Group LLC, operating as Worldwide Auctioneers.
Worldwide Auctioneers is a U.S.-based boutique auction firm specializing in the sale and acquisition of classic vintage motorcars at auction around the globe. With an impressive 20-year history and a talented team, Worldwide offers an extensive range of personalized services to collectors, including private sales, appraisal, collection direction and consultancy, estate planning and asset management.
Perpetual Industries expects Worldwide to benefit from multiple channels of collaboration moving forward, particularly within the company’s blockchain division.
AutoGrafic Software System Acquisition
On April 6, 2021, Perpetual Industries announced its acquisition of AutoGrafic Software System.
AutoGrafic is a software-as-a-service (SaaS) and social application that utilizes cutting-edge technology to host a myriad of aspects for automotive promotion and preservation. It targets global collector car and automotive enthusiasts who want a unique, multifaceted, interactive automotive experience that is focused on a visual-based social community, collection management, social events, auctions, insurance, research, preservation and historical documentation.
In announcing the acquisition, Perpetual Industries CEO Brent Bedford described AutoGrafic as “another foundational piece in [the company’s] quickly expanding blockchain division,” noting that it “will also greatly benefit Worldwide Auctioneers… by bringing much-needed new technology and innovation to their customers and the collector car industry at large.”
Perpetual Industries’ goal is to capitalize on this currently growing marketplace sector to create an immersive interactive experience, while at the same time creating a central hub that will attract the next generation of car enthusiasts.
Classic Car Market Outlook
The U.S. classic car market has recorded steady expansion over recent years, accounting for revenue of approximately $12.63 billion in 2020, according to Statista (https://ibn.fm/Fydhj). The same report forecasts growth to $15.52 billion by 2023, representing a CAGR in excess of 7 percent. Classic car dealers in the U.S. have cornered a significant portion of this market opportunity. According to data from IBISWorld (https://ibn.fm/k30F5), the market for classic car dealers in the U.S. was valued at $2.1 billion in 2021, achieving a CAGR of 1.5% from 2016 to 2021, despite the challenges associated with the COVID-19 pandemic.
Brent W. Bedford is the President, Chairman, CEO and founder of Perpetual Industries. He has held these roles continuously since founding the company in January 2005. He has a deep understanding of every aspect of the company’s business, products and markets. He also has experience developing corporate strategies, assessing emerging industry trends and carrying out business operations. Mr. Bedford has a strong background in mechanical applications, with expertise in finance, private startups, public startups and corporate turnarounds.
William Griffin Thomas, CPA, is the company’s CFO. He holds a Bachelor of Science in Accounting from the University of Tampa and a Bachelor of Science in Agribusiness from the University of Florida. Mr. Thomas is a licensed CPA with over 19 years of experience spanning both the private and public sectors, as well as time with non-profits. His expertise includes auditing, budget analysis, fixed assets, financial modeling, SEC financial reporting, GAAP compliance and fair value measurements.