Aquarius Engines Signs Deal With Honda-affiliate To Develop Electricity Generators
Aquarius Engines Will Also Establish Subsidiary Company In Japan
ROSH HA'AYIN, Israel, Jan. 19, 2021 /PRNewswire/ -- Aquarius Engines (TASE: AQUA) have signed a partnership deal with Honda-affiliate Musashi Seimitsu to co-develop electricity generators for the automotive and telecommunications industry. The move comes a year after the Japanese auto-parts manufacturer invested capital into the company.
Aquarius Engines now plans to establish a subsidiary in Japan to further broaden its global reach, collaborate on R&D and seek new strategic partners. The Israeli firm is looking to Tokyo to boost existing relationships and foster new ones - with an eye to adapting their patented linear free-piston engine to operate on Hydrogen. In recent years the Japanese government has invested in an ambitious policy to encourage research and development into the use of hydrogen as an energy source.
"We are proud to be deepening our partnership with Musashi Seimitsu and establishing strong roots within the Japanese automotive industry. Japan's global reputation as a leader in the automotive industry makes it fertile ground for Aquarius Engines to evolve and grow. We continue to advance and optimize our technology and register additional patents. While seeking new opportunities across the telecommunications, transportation, aviation and automotive industries," said Gal Fridman, Chairman of Aquarius Engines.
The 10kg Aquarius Engine can be used as an onboard power generator in a vehicle or as a stand-alone electricity generator. Unlike most conventional engines that are made of hundreds of parts, the Aquarius Engine has just twenty components and one moving part. The lightweight streamlined design makes it inexpensive and highly efficient with hardly any need for maintenance. Due to its size and lightweight, the engine has high mechanical efficiency that allows for low emissions and low pollution.
Aquarius Engines is also partnered with Nokia in the field of remote communication and energy equipment management.
Aquarius Engines is the developer and manufacturer of micro engines that generate electricity through groundbreaking technology with around 20 patents registered worldwide. Aquarius Engines currently has R&D centers in Israel, Germany and Poland. The company's chairman is Gal Fridman and CEO is Ariel Gorfung. Aquarius Engines is a publicly traded company on the Tel Aviv Stock Exchange (TASE: AQUA). www.aquariusengines.com
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SOURCE AQUARIUS ENGINES
Company Codes: TelAviv:AQUA
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