Aquarius Engines Receives €5M Purchase Order For Innovative Generators

Rhea-AI Summary

Aquarius Engines has secured a €5M purchase order for its innovative generators from Tecnoelettra in Italy, marking a pivotal step in its strategic plan. The company aims to provide cleaner, more efficient power solutions with its patented 10kg linear engine, which has proven its efficiency through successful field tests in Northern Italy. Deliveries are expected between October 2022 and 2023, pending acceptance tests. The generators' design prioritizes minimal maintenance and reduced emissions compared to traditional engines, indicating a strong market potential in energy and beyond.

Positive

• Secured a €5M purchase order for generators from Tecnoelettra, enhancing market presence.
• Patented 10kg linear engine demonstrates high mechanical efficiency and low emissions.
• Successful field tests have established credibility with potential clients.
• Plans to expand into additional verticals beyond the energy sector.

Negative

• Delivery depends on the completion of acceptance tests, introducing uncertainty.
• Market penetration is challenged by the presence of established competitors.

YAKUM, Israel, Nov. 2, 2021 /PRNewswire/ -- Aquarius Engines (TASE: AQUA) have received their first purchase order for generators - after a series of successful field tests in Italy. The €5M purchase came from the Italian-based Tecnoelettra, which supplies state-of-the-art power solutions to a wide range of clients, including those in the telecommunications industry.

"This purchase order is a significant first step in the realization of Aquarius Engines strategic plan. We have begun in the energy field, focused on locations challenged by logistics, maintenance, space and size. Successful implementation of this milestone will be a catalyst towards the development of additional verticals, that include: aviation, transportation and maritime. About 230 million large, polluting engines are sold to these markets every year. Aquarius Engines aims to replace them as the greener, cleaner and more efficient alternative. Our first commercial order is a sign of things to come - far beyond the energy industry, as we embark on our mission to power the world with greener engines." Said Gal Fridman, Chairman of Aquarius Engines.

The order comes after a series of successful field tests with a number of potential clients in the Northern Italian region of Bologna. The Aquarius generators will be delivered to Italy in stages from October 2022 to the end of 2023, subject to the completion of acceptance tests from the first production series by Tecnoelettra.

The Aquarius generators operate on their patented 10kg linear engine. The entire generator weighs around 100kg and requires minimal maintenance, compared to equivalents that weigh six times that amount and require regular upkeep.

Aquarius Engines has developed and produced a tiny 10kg linear engine for generating electricity, with an internal combustion mechanism. Unlike large traditional engines, the Aquarius Engine only has one moving part and converts fuel into electricity without the use of oil. Due to its size and light weight, the engine has high mechanical efficiency that allows for low emissions and low pollution.

The Aquarius Engines Generator is currently undergoing field tests in North America, Europe, Asia and Australasia. Aquarius Engines recently announced partnership deals with Nokia in the field of remote communication and energy equipment management in addition to establishing a subsidiary in Tokyo and partnering with Japanese auto-parts manufacturers TPR and Honda-affiliate Musashi Seimitsu.

Aquarius Engines has manufacturing and development centers in Israel, Germany and Poland. Gal Fridman is Chairman and Ariel Gorfung is CEO of Aquarius Engines.  

Website: https://www.aquariusengines.com/

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SOURCE AQUARIUS ENGINES

FAQ

What is the significance of the €5M purchase order for Aquarius Engines (AQUEF)?

The €5M purchase order signifies a crucial step in Aquarius Engines' strategic plan, indicating market acceptance of their innovative generator technology.

When will Aquarius Engines begin delivering the generators to Italy?

Deliveries of the generators are scheduled to start from October 2022 and continue until the end of 2023.

What technology does Aquarius Engines utilize in their generators?

Aquarius Engines uses a patented 10kg linear engine that operates with high mechanical efficiency and produces low emissions.

Who are the primary clients for Aquarius Engines' generators?

The primary client mentioned in the press release is Tecnoelettra, a supplier of power solutions, including for the telecommunications industry.

What future markets is Aquarius Engines (AQUEF) targeting with its technology?

Aquarius Engines aims to expand into aviation, transportation, and maritime sectors, leveraging its cleaner engine technology to replace polluting engines.