May 8, 2002 — Reg Technologies Inc., and its U.S. subsidiary, REGI U.S., Inc., said an exclusive worldwide license has been granted to Rotary Power Generation Inc. (RPGI), for the Rand Cam Technology for Power Generation applications.
RPGI agrees to the following terms and conditions for the exclusive license:
* To complete a 12-month duration study of the design, analysis, manufacturing cost, risk assessment and marketing analysis;
* To pay REGI U.S. $100,000 (US) within 1 year in order to maintain the exclusive license rights for the Power Generation application;
* To pay a 6% royalty on the sales of Rand Cam engines, parts and service annually;
* To pay 50% of all sublicense fees and royalties received on the license agreements received from all future partners and sub-licensees;
* To pay REGI U.S. a minimum of $500,000.00 (US) annual payment after 5 years from the date of this agreement; and
* To pay REGI U.S. $150 per hour for the engineering consulting work on the Power Generation project.
Pat Badgley, V.P. of the Engineering department for REGI U.S., states, “The Rand Cam Power Generation technology will have a lower installed cost, lower exhaust emission than the micro turbines used today, and our generation efficiency will be about 40%, which is better than the 30% claimed for microturbine generators.”
The management of REGI U.S. is pleased to work with Robert Stoddard, President of RPGI and current corporate marketing director for REGI U.S., who has extensive experience in government relations and advanced technologies marketing for the Power Generation project.
About Reg Technologies, Inc./REGI U.S., Inc.
Reg Technologies, Inc. jointly owns the worldwide rights to the Rand Cam™ rotary technology with its U.S. subsidiary REGI U.S., Inc. and is currently incorporating its latest winged rotor technology to dramatically improve sealing and reduce friction in the diesel Rand Cam™ engine. The company has designed and built an air pump for fuel cell applications as well as an air pump for the lumbar seats in automobiles and has filed for a patent for the Hydrogen Separator Technology.
The company has also built a compressor for air conditioning units for buses. Currently REGI U.S. is developing a ceramic engine for the U.S. Navy’s new low-cost unmanned aerial vehicle.
The company’s goal is to license the Rand Cam Technology and/or to participate in joint ventures to manufacture specific Rand Cam™ applications and the Hydrogen Separator Technology.