Emerson and WaveCrest Enter Motor Manufacturing Agreement
DULLES, VA, June, 8, 2005 – WaveCrest Laboratories, a leading-edge technology company developing and commercializing highly advanced electric propulsion and drive systems for a wide range of transportation and industrial applications, has entered into a development and manufacturing agreement with Emerson Motor Technologies, a global leader in the design and manufacture of electric motors and a business of Emerson (NYSE: EMR).
The agreement provides for WaveCrest and Emerson to collaborate in designing specialized electric motors and for Emerson to manufacture commercial volumes of these motors which WaveCrest will use in its new electric propulsion and drive systems for a variety of transportation and industrial products. Financial terms of the agreement were not disclosed.
The WaveCrest system uses software controls and advanced electromagnetic, thermal, and mechanical designs to provide efficient, cost effective, low pollution, and quiet electric propulsion and drives. Applications include bicycles, scooters, motorcycles, wheelchairs, light and heavy trucks, automobiles, boats, industrial transport, pumps, generators, and auxiliary power units. Target markets for WaveCrest’s electric propulsion systems include fast-growing developing countries, such as Thailand, where the use of more energy efficient and low polluting technologies are being encouraged.
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