Aquarius Engines Signs New Deal WithJapanese Auto-parts Manufacturer TPR
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NEWS PROVIDED BY
AQUARIUS ENGINES 
Apr 01, 2021, 06:06 ET

ROSH HA'AYIN, Israel, April 1, 2021 /PRNewswire/ -- Aquarius Engines (TASE: AQUA) has signed
a memorandum of understanding with Japanese auto-parts manufacturer TPR, focused oncooperation between TPR and Aquarius's soon-to-be established Japanese subsidiary.

Aquarius Engines is in the process of establishing a sister company in Japan with the aim ofpromoting and strengthening ties with existing Japanese partners, which include Hondaafﬁliate Musashi Seimitsu and TPR.

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The 10kg super efﬁcient Aquarius Engine (Credit: David Katz) (PRNewsfoto/AQUARIUS ENGINES)

Aquarius Japan will work to create strategic partnerships across Asia and promote morebusiness opportunities in the Japanese market. In addition to research and development toadapt the patented Aquarius linear engine to operate on hydrogen and penetrate theJapanese automobile market.

TPR is a Japanese publicly traded manufacturer of components for the global automotive
industry, and is a non-material shareholder in Aquarius Engines.

According to the memorandum of understanding, which is still subject to a number ofconditions, the two companies will cooperate in multiple areas that include development
production and supply of parts that Aquarius Engines will use to manufacture its products.
The manufacture and assembly of the Aquarius Engine and generator by TPR. The sale of theAquarius Engines and generators by TPR in certain areas and their subsequent maintenance.
In addition, TPR expressed its willingness to invest in the Aquarius's Japanese subsidiary, andboth parties agreed that TPR would be given an option to invest at least $5M in Aquarius
Japan, with the opportunity to participate in the company's management.
Aquarius Engines estimates that the new business partnership with TPR, a leading player in
the automotive industry, with signiﬁcant commercial experience, could have a positive
impact on demand for products developed by Aquarius Engines and give signiﬁcantadvantage in terms of quality and turnaround.

Aquarius Engines looks to Japan as a key destination for strategic collaboration, which areexpected to advance the company's research and development in international markets. The
new collaboration is also expected to propel Aquarius Engines towards its entry into theautomotive market through a strategic partnership with a leading player in the industry.

It should also be noted that the Government of Japan continues to encourage thedevelopment of technological innovations in the ﬁeld of hydrogen as an energy source andallocates signiﬁcant resources for this purpose, a move that serves as a fertile ground for theAquarius Engines plans to revolutionize green energy.

"We are pleased to be partnering with TPR, which is a dominant and central force in theJapanese automotive industry. Bringing together our subsidiary Aquarius Japan with TPR, wewill be able to create long-term relationships with leading manufacturers in the Japanesemarket and establish Aquarius' status as a key player in manufacturing the cars of the future.
This is thanks to our innovative products, which will contribute to the green revolution thathas already begun in the global automotive industry," said Gal Fridman, Chairman ofAquarius Engines.

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

In addition to its partnerships with the Japanese Musashi Seimitsu and TPR, Aquarius
Engines has a partnership with Nokia in the ﬁeld of remote communication and energy
equipment management.

The Aquarius Engines technology currently has around 20 patents registered worldwide. The
technology has additional applications in the ﬁelds of aviation, marine and range extenders
for the automotive market. Aquarius has manufacturing and development centers in Israel,
Germany and Poland. https://www.aquariusengines.com/

For more information or to arrange an interview contact avihyman@avihyman.com

SOURCE AQUARIUS ENGINES

Related Links
https://www.aquariusengines.com/

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