START-UP & TECHNOLOGY TURNAROUND

 

Dr Westlake was asked to take over as Chairman and Managing Director of a refrigeration technology company by its new venture capital investors.

 

An action plan was developed, key international refrigeration industry executives were brought onto an advisory committee and focus was put into obtaining a US Patent and developing a high quality engineering prototype.

 

Independent testing and certification were obtained regarding the outstanding performance of the technology, so potential licensees did not just have to believe the company’s personnel.

 

A significant technology transfer agreement was developed with a major international corporation worth over $1 million annually - plus royalties. Over 60,000 units were produced by this corporation.

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