Indian American billionaire has pledged to give away his wealth.
AB Wire
Indian American billionaire Manoj Bhargava unveiled a stationary bicycle that can generate electricity and help rural households meet their energy needs, in New Delhi, on Friday.
“The stationary bicycle generates power. The pedalling turns a flywheel, which spins a generator that charges the attached battery,” Bhargava said while unveiling the product, reported the Press Trust of India.
The innovative bicycle is estimated to be priced between Rs. 12,000-15,000 and will be available by March next year, he said.
One hour of pedaling can meet a rural household’s electricity needs for 24 hours, including running lights, a small fan and charging a cell phone — all without electricity bills, fuel costs or pollution, a statement issued by him said.
Bhargava said he had a discussion about the product with the Prime Minister Narendra Modi, but said he was not very enthusiastic about collaborating with government departments.
Bhargava, who has pledged to use up to 99% of his billion dollar net worth on projects that benefit mankind, founded the ‘5-Hour Energy’ drink.
He grew up in Lucknow, and moved to Philadelphia, in 1967 at the age of 14. Bhargava graduated from The Hill School in Pottstown and attended Princeton University for one year. He returned to India and spent the next 12 years traveling to and from a group of communal like monasteries owned by the Hanslok Ashram. During this period Bhargava moved back and forth between the US and India and worked a variety of middle class office and construction jobs.[6]
Bhargava returned to the United States in the early 1990s and began running his family’s plastics company, Prime PVC Inc. in 1996. Later, he called it Prime Conduit, grew sales to $20 million, and finally sold it in 2007.