ATG signs US agreement
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Malaga-based Automotive Technology Group has entered into an agreement with US automotive technology company PlasmaDrive Inc to supply ATG's patented supercharger for PlasmaDrive's fuel saving engine systems.
The full statement is below:
Leading Australian clean automotive technology company Automotive Technology Group (ATG) (ASX: ATJ) is pleased to announce that it has entered into an agreement with leading American automotive technology company PlasmaDrive Inc. to supply ATG's patented Sprintex Supercharger in vacuum configuration for PlasmaDrive's fuel saving engine systems.
Under the agreement, ATG and PlasmaDrive will work together to bring PlasmaDrive's Phas5Fuel advanced fuel economy low emission fuel system to the global automotive market.
The objective of the agreement is to develop a large scale, long term supply of ATG Sprintex Superchargers for PlasmaDrive's engine systems.
PlasmaDrive's market research forecasts sales volumes could grow to in excess of 1 million units per annum, in less than three years.
ATG's Sprintex Supercharger delivers lower exhaust emissions with greater fuel efficiency and performance, and has been independently tested (SAE standard J1723) and confirmed as one of the world's best superchargers for automotive applications.
ATG will utilise the Company's Sprintex twin screw superchargers (in a vacuum pump configuration) in PlasmaDrive's unique and revolutionary fuel saving engines systems.
Under the agreement ATG and PlasmaDrive will also collaborate on further development of fuel-saving and emission reducing technology.
PlasmaDrive is an emerging global leader in advanced fuel economy and emissions reduction innovation and technology.
It is the owner and developer of a patented breakthrough technology which allows conventional engines in all vehicles to operate at normal capacity on significantly less fuel and lower emissions.
This is achieved by utilising waste exhaust heat and an efficient vacuum pump connected to a patented device, to create Phas5Fuel from petrol, diesel or gas.
The Sprintex Supercharger will provide the all important vacuum pump component.
PlasmaDrive has previously tested other superchargers and vacuum systems without achieving their required efficiency or durability.
PlasmaDrive has recently evaluated two Sprintex units, producing results far exceeding their requirements.