IHDR, and its predecessor company ICI, had built four functioning prototypes utilizing the system, two of which operated under pressure for years, before the build out of the 12 cylinder radial system for production.
Under the joint venture agreement IHDR shall receive approximately 35% of a projected $44,000 per year revenue per unit, plus approximately $2,500 per unit produced for European use.
Concurrent with the Joint Venture agreement, IHDR will proceed with the production of Energy Commander units through Cm2 in Terni, Italy, until the Joint Venture facility is ready to take over production.
The agreement was achieved by the CEO of IHDR during meetings with Energia and Cm2 in Narni and Rome, and was based upon a long held goal of Cm2 and sponsoring entities to achieve a production home for renewable technologies.
and ETIG / MacGregor's agreement provides for the initial purchase of 100 Energy Commander Units with a total unit purchase price of $2,250,000.
The many provisions of this agreement give us a sound footing for deployment of an energy source the world simply does not appreciate today," stated IHDR
President and CEO Craig A.