MTI pays $8M/year to make blutip HGS
blutip Power Technologies has sold exclusive manufacturing and marketing rights for its Hy-Drive HGS hydrogen generating system to Mining Technologies International Inc.
MISSISSAUGA, Ont.: blutip Power Technologies has sold exclusive manufacturing and marketing rights for its Hy-Drive HGS hydrogen generating system to Mining Technologies International Inc. (MTI).
MTI, a Sudbury, Ont.-based mining equipment manufacturer, will pay $2 million quarterly to blutip Power, a division of Hy-Drive Technologies Ltd. in Mississauga, Ont., for the exclusive manufacturing and global distribution licensing rights for the hydrogen-enhanced diesel combustion technology.
The system is used with direct-driven rolling equipment applications in the surface mining, underground mining, tunnelling, construction mining and off-highway market sectors.
It injects small amounts of hydrogen gas, on demand, into the combustion chamber of a vehicle’s engine. The company says the enriched air/fuel mixture burns more efficiently, thus reducing greenhouse gas emissions.
MTI will manufacture and supply the current Hy-Drive HGS and all of its associated sub-assemblies to the worldwide off-road heavy equipment market.
However, blutip Power’s proprietary controller software, isn’t part of the licence and will be supplied to MTI for each application of the HGS product.