CSY cmc power systems limited

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    Agreement Foreshadows First Regular Income for Engine Dev.
    14/5/03 10:38:00 AM


    CMC POWER SYSTEMS LIMITED 2003-05-14 ASX-SIGNAL-G

    +++++++++++++++++++++++++
    Australia's revolutionary SYTEC internal combustion engine has taken
    an important step forward with the signing of a memorandum of
    agreement (MOA) expected not only to generate income for Australian
    company CMC Power Systems, but to lead to the manufacture in the
    ASEAN region of significant numbers of engines.



    The agreement is between two Malaysian companies, Sytec Technologies
    Sdn Bhd and Satria Defence Technologies Sdn Bhd. These two companies
    have agreed to establish a joint venture that will utilize a
    manufacturing licence granted to Sytec Technologies, while CMC will
    be funded to develop the licensed SYTEC engine technology to the
    point of manufacture.



    The Executive Chairman of CMC Power Systems, Graham Fountain,
    welcomed the agreement, saying it would involve CMC assisting its
    potential licensees with the development of a variety of engines
    including petrol and diesel powered units for electric power
    generation, vehicle engines and advice on manufacturing processes.



    "Over the past 20 years CMC has made prototype engine and
    installation sales, but this will be the first time we have secured a
    reliable ongoing revenue stream to support engine development, and we
    are delighted that the true worth of the technology is being
    acknowledged in thisway," Mr Fountain said.



    Last year, CMC sub-contracted the renowned UK engine development
    company, Cosworth Technology, to produce and test 15 prototype
    Automotive Auxiliary Power Units (AAPUs) powered by 500cc SYTEC
    engines.



    Ten of these Phase I engines have been completed and tests have shown
    a fuel consumption of 300 grams per kilowatt hour, which compares
    with 305-335 grams per kilowatt hour for existing engines. Five Phase
    II engines are under further development.



    A number of prototypes will be shipped to Malaysia for development
    for other applications, including Distributed Power Generation (DPG),
    or "power in a box" for homes, shops, offices and factories. The
    500cc SYTEC engine will be the basis for the first product launch in
    the ASEAN region. The intention is to progressively ramp production
    up to 100,000 engines per annum on a two shift basis.






 
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