Mitchell Dong
Mitchell Dong
Mitchell Dong is an American entrepreneur, private investor, cryptocurrency trader, and philanthropist based in New York City. He is Managing Director of Pythagoras Investment Management. [1]
Education
Dong graduated from Harvard University in 1975 with an Bachelor of Arts in Economics. He later attended Harvard Business School as a grad student graduating in 1997. [1]
During his time at Harvard, Dong was a member of the Ski team, Fly Club, and Harvard Chinese Student Association.
Career
Early beginnings
Dong has been an entrepreneur in alternative energy since 1973.
In 1980, Dong started MITEX, Inc., which developed hydroelectric power facilities at existing Federal dams. MITEX filed for 80 preliminary permits from Federal Energy Regulatory Commission and received 10 licenses to construct and operate hydropower facilities. The company built five plants totaling 30 MW and was sold to Sithe Energies, a subsidiary of the Compagnie Generale des Eaux.
He then developed gas-fired, cogeneration power plants in 1986. Dong later founded and ran Tellus, Inc., which executed power purchase agreements for over 500 MW of cogeneration projects. The project was sold to a subsidiary of General Public Utilities.
In 1991, Dong founded FulCircle Ballast Recyclers, in Bronx, New York. The company disposed of PCB contaminated ballast from fluorescent lighting fixtures. He and his partners developed a process to destroy the PCBs and reclaim copper, aluminum and steel from the small lighting transformers. The company was sold in 1995 to a publicly traded environmental firm.
In 2006, Dong started Solios Asset Management, which ran two hedge fund. Solios Power Fund trades financial contracts in electric power markets in the US and Solios Uranium Fund invests in physical uranium for nuclear power plants.
In 2008, he started Mohave Sun Power, whose first project is a 340 MW solar thermal power plant in Arizona. The proposed project was put on hold in 2010 due to decreasing power demand from the utility. The project has since been moved to Saudi Arabia, where development has continued on both solar thermal and photovoltaic projects as part of the Kingdom’s 41GW goal by 2032.
Philanthropy
Mitchell Dong, along with his family, are also dedicated to philanthropic activities which focus on public health and poverty reduction in Africa and Central America.