Rotoblock Signs $5 Million Development Contract With Brazilian Automaker; OBVIO ! of Rio de Janeiro Signs Development and License Agreement to Incorporate OPE Technology Into Hybrid Drive Train Business Wire - August 01, 2006 8:00 AM ET
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Automotive technology firm Rotoblock Corporation (OTCBB:ROTB) has signed a development and license agreement with Brazilian automotive company OBVIO ! for the development and incorporation of a more compact Oscillating Piston Engine into the OBVIO ! 828, 012 and subsequent models.
OBVIO ! has agreed to license Rotoblock's technology for the Oscillating Piston Engine (OPE) in exchange for US$5,000,000 (Five million US Dollars), paid through a royalty agreement on each unit sold. Rotoblock would receive additional royalties after terms of the initial agreement have been met. OBVIO ! is in the process of manufacturing two microcars powered by traditional internal combustion engines and OBVIO ! officials are interested in the OPE's ability to be incorporated into an ethanol hybrid drive train projected for production.
"The business plan laid out for Rotoblock was to develop the Oscillating Piston Engine to a point where we could start generating revenue by licensing the technology," said Rotoblock President Matthias R. Heinze. "Our new venture with OBVIO ! has allowed us to reach this milestone."
Rotoblock says that the second generation of the OPE was constructed as a test model and would necessitate joint efforts with OBVIO ! to develop a more compact engine suitable for hybrid applications.
"The third generation OPE would be lightweight and compact enough for hybrid applications," said OBVIO ! President Ricardo Machado. "Its small size opens the engine compartment to the availability of additional battery space. We think the result will be a microsports car with a lot of muscle and the fact that the OPE can also use ethanol makes the engine the ideal candidate."
OBVIO ! calls its unique automotive designs microcars, small enough to park two to a normal parking space, or short enough to back into parallel parking spot. Bench seating allows room for three adult passengers. i-Mobile would supply an on-board multi-function computer, providing personal computing, GPS satellite navigation, satradio, Internet, e-mail and multimedia functions. Enhanced safety for the microsport cars uses an innovative elliptical ring structural design derived from aeronautical crash management technology.
About OBVIO !
OBVIO ! Automotoveiculos S.A. is a new developer and manufacturer of high-safety and high-performance automobiles in Rio de Janeiro, Brasil. OBVIO ! has assembled a network of strong suppliers to incorporate the latest advances in automotive engineering into a new generation of automobiles that meets the challenges of today's urban driving environment. OBVIO ! is setting up a five million square foot manufacturing facility in Xerem at Duque de Caxias city, in the state of Rio de Janeiro. Under the direction of OBVIO !'s chief design partner, Anisio Campos, the premier car designer in Brasil and a former racing driver, OBVIO ! cars incorporate many state-of-the-art composite technologies, materials and features for urban cars that are fun and efficient.
About Rotoblock Corporation
Rotoblock is focused on the continued development and improvement of the Oscillating Piston Engine to the state where its mechanical, ecological and economic viability leads to the profitable licensing of the manufacturer's rights to a proprietary patented design or a partnership for its manufacture. The Company was incorporated in Nevada, is headquartered in Santa Rosa, California. The Company has full rights to the patents of the original Oscillating Piston Engine and believes the Rotoblock Oscillating Piston Engine has particular and useful applications in developing countries such as China and India and will be including these areas in the marketing and commercialization phase of this engine. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings.
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