Brief: Ener Core-signs global commercial licensing agreement with Dresser Rand
19/11/2014 13:00
Nov 19 (Reuters) - Ener-Core Inc ENCR.OB : * Signs global commercial licensing agreement with Dresser Rand-one of the world's largest rotating equipment companies in oil & gas * Entered licensing agreement with Dresser Rand Co-to develop,market Dresser Rand-kg2-3gef 2-mw gas turbine with Ener Core-oxidizer * Says specific details of the deal have not been released * Agreement gives Dresser Rand-exclusive rights to commercialize co 1-4mw gradual oxidizer with Dresser Rand-kg2 gasturbine product line * Says Dresser Rand-will pay a $1.6 million initial license fee * Dresser Rand-agrees to achieve annual sales thresholds agreed to by both companies in order to retain the commercial license * Source text for Eikon ID:nPn7n1f8n * Further company coverage ENCR.OB ((Bangalore Newsroom; +1 646 223 8780))