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7220 - Musashi Seimitsu Industry Co News Story

¥1962 -39.0  -2.0%

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Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £867.4m
Enterprise Value £1.29bn
Revenue £1.31bn
Position in Universe 674th / 3905

Musashi Seimitsu to co-develop new engine with Israel's Aquarius

Tue 26th November, 2019 2:00pm
TEL AVIV, Nov 26 (Reuters) - Israel's Aquarius Engines said
on Tuesday it signed a deal with Japanese auto parts maker
Musashi Seimitsu  7220.T  to co-develop its linear engine.
    In addition to sharing expertise and manufacturing
capabilities Musashi, which is 25% held by Honda Motor Corp
 7267.T , has invested an undisclosed amount in Aquarius.
    The 10-kg engine can be used as an onboard power generator
in a vehicle or as a stand-alone electricity generator. It is a
single linear piston that blasts to and fro inside a valveless
800cc cylinder, generating power from electromagnetic coils with
each stroke and with very low emissions.
    "Musashi sees clear synergy with Aquarius Engines and their
new system, which provides electrical mobility and charging
while braking," Musashi CEO Hiroshi Otsuka said in a statement.
    The two companies will initially co-develop the Aquarius
electricity system to power 5G cellular base stations and supply
electricity to remote areas and then progress to other markets,
including the auto industry, he said.

 (Reporting by Tova Cohen
Editing by Steven Scheer)
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))
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