General Automotive Co. (GNAU.OB) Defines Terms of Agreement with SenCer, Inc.
QualityStocks (September 2nd, 2008) Writes:
General Automotive is an international provider of advanced automotive parts and technologies. Today the company announced the details of a joint venture in which General Auto and SenCer, Inc. have agreed to work together to advance the development of SenCer’s next-gen ceramic composite material, UltraTemp™.
The project will move forward under the name Advanced Technology Group (”ACT”), and stands to accelerate both SenCer’s efforts to commercialize its oxygen sensors and UltraTemp™, as well as General Auto’s ongoing quest to develop the most technologically advanced fuel cells that the world has seen to date. It is thought that UltraTemp™ may play a critical role in circumventing common fuel cell engineering difficulties, such as durability and manufacturing cost issues.
Each company will hold an equal fifty-percent share in the ACT venture, with the option to contribute more capital upon further evaluation of the project’s viability. Unlike the average everyday venture, this one
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