Key Capital Licenses Fast Charge Technology In Taiwan
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 27, 2000--It is with great pleasure that Key Capital Group Inc. (CDNX: KYC) announces the completion of its first Licensing and Distribution Agreement with Summit Consultants Ltd. ("Summit"). Pursuant to the Company's news release of September 21, 2000, Summit exercised its option in obtaining a license to use the Company's ultra-fast non-destructive charging technology in Taiwan. The Company has received the balance of the option fees in the amount of $75,000.
The Company now has access to a very large market in Taiwan, where chargers are manufactured for automotive batteries, electric bicycles and scooters, electric vehicles, electric wheelchairs, forklifts and other battery operated equipment. Over the next few months, with Summit's assistance, the Company should be able to put together a marketing plan, detailing estimates of market size, penetration, and earnings.
The Company's Director of Technical Research and inventor of the technology, Vladimir Petrovic, has gone to Taiwan to provide the necessary technical assistance to manufacturers of the charging equipment.
In further news, the Company has entered into discussions with two major companies in Europe and Japan. In addition to that, the Company is preparing a letter of intent with a company in Korea.
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