Jeremy Feakins currently serves as the Chairman and CEO of Ocean Thermal Energy Corporation (OTE). Throughout his career, Jeremy has focused on supporting projects that make a positive impact on the world—especially if the projects help the environment or advance sustainability.
Helping others has been one of Jeremy’s main motivations throughout his investing and business career. From 1992 until 2007, Jeremy was the Chairman and CEO of Medical Technology & Innovations, Inc. (MTI). MTI developed a medical device called “The Photoscreener” that can identify eye issues in young, preverbal, and hard-to-screen children. The entire process of research, development, and FDA approval took many years. However, Jeremy remained committed to the project for 15 years because he recognized the difference the device could make in the lives of children.
When considering a new investment opportunity, Jeremy Feakins asks himself if the product or service will improve the lives of others. Jeremy says, “All investors have a choice. I choose to put money into things that do good.” To that end, Jeremy is Chairman and Managing Partner of the JPF Venture Group, Inc. JPF Venture Group, Inc. supports businesses that are devoted to humanitarian or sustainable initiatives.
In 2010, Jeremy Feakins invested in OTE because he recognized the positive environmental impact that the organization’s technology will have on the world. He was appointed its Chief Executive Officer shortly after making his investment. OTE and its engineers design and construct hydrothermal energy and cooling plants that use Ocean Thermal Energy Conversion (OTEC) and Seawater Air Conditioning (SWAC). The company is based in Lancaster, PA, and has offices in The Bahamas, the Cayman Islands, and the US Virgin Islands.
OTEC technology generates continuous, 24/7, base-load energy without the use of fossil fuels by harnessing ocean energy. The surface water of the ocean stores solar energy while deep ocean water hovers around freezing. By utilizing the temperature differential between the warm and cold ocean water, an OTEC system can generate electricity 24 hours a day, 365 days a year.
Seawater Air Conditioning (SWAC) uses natural cold water from an ocean or a lake instead of chemicals to generate air conditioning. SWAC uses up to 90% less electricity when compared to standard air conditioning. SWAC draws cold water to use as a cooling resource. This water is returned to the source after cooling a large building or some other area. A portion of this water, used for both OTEC and SWAC, can be desalinated for drinking, fish-farming, and agriculture.
Jeremy Feakins looks forward to the impact that his work with OTE will have on the world. OTEC and SWAC have the potential to reduce environmental destruction across the globe. Fossil fuel-fired power generation plants are a leading cause of air pollution and the single largest source of global warming emissions. OTEC and SWAC are environmentally friendly alternatives with no emissions. To learn more about Ocean Thermal Energy Corporation’s initiatives, visit the company’s official website.