Aquion Energy CEO admits deceit.
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Pittsburgh, PA - Aquion Energy CEO Scott Pearson announced plans to shutter facilities in Allegheny and Westmoreland Counties, today. Amid growing pressure from investors and outside investigators, Mr. Pearson was forced to admit that he had recently learned the company was, in fact, built on top of a joke that went too far.
"Apparently, [CTO of Aquion Energy] Professor Whitacre approached investors as a joke. He had a formulation widely know to function, but not be very scalable. He admitted to me that he just wanted to get a chuckle at the expense of a few millionaires and billionaires who 'act smarter than they really are.' Unfortunately, no one looked deeply in to the chemistry. The investors never truly vetted the idea from a fundamental perspective."
Pearson went on to explain that the battery chemistry did make a functioning battery, but would never perform as expected. Whitacre recruited several scientists from his lab to back up his claims, and even submitted several patent applications. To their surprise, the patents were approved and the lie had taken on a life of it's own. Mr. Pearson declined to provide any further details about how a company could operate for several years on this pretense, or what his role in the cover up was.
Professor Whitacre was called for a comment on the story. He said with a slight chuckle, "I'm sorry. I'm so so sorry. My lawyers said I shouldn't say anything, so I'll stop there. Goodbye."
The SEC has announced it will start an immediate investigation in to Mr. Pearson's claims. Aquion Energy's investors declined to comment.
This is a satirical website. Don't take it Seriously. It's a joke.
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