|- Letter of Intent signed yesterday |
On April the 7th 2015, the
CraftEngine story took yet another positive turn with the signing of a Letter
of Intent between Viking Heat Engines AS, Norway and AVL List GmbH in Austria.
“We are very pleased, says Tore Hansen-Tangen,
Executive Chairman of Viking Heat Engines. “The whole AVL group and their
German subsidiary AVL Schrick in particular, have been extremely important for
the success of our CraftEngine development program. AVL’s world renowned
expertise and marvelous track record in developing all kinds of engines has
made all the difference when developing our ideas into a solid product that
will actually work in the market”.
Roger Wildemann, Managing Director at AVL Schrick, comments: “The people at Viking have shown great courage and relentless dedication
to make this project work and we are very pleased to continue to be part of the
venture. Other ORC technologies have had very limited success but we have great
faith in the CraftEngine, both technically and commercially. As far as we know,
this is the first time that someone has taken the time, effort and money
necessary to do to this properly and from scratch, with a purpose built engine
based on automotive principles. Based on Viking’s ideas our job is to ensure
that the product is reliable, durable and inexpensive”.
In the Letter of Intent the Parties agree to
immediately establish a joint team to work out the details of the future
relationship between the two companies, with the intent to form a closer
cooperation among them.