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VYCON SIGNS AGREEMENT WITH FANTUZZI GROUP TO MARKET AND SELL THE REGEN SYSTEM ON NEW CRANES AND RETROFIT OPERATING FLEET
Los Angeles – July 24, 2007– VYCON, a market leader in the innovation, design and manufacture of advanced, green-tech, high cycling energy storage flywheel systems, today announced an agreement (Memorandum of Understanding) with Fantuzzi Group, a leading crane manufacturer that delivers container handling equipment to Ports Authorities around the world. Fantuzzi Reggiane Group is the first authorized VYCON representative to offer the REGEN system on new Rubber-Tired Gantry (RTG) cranes. The companies also agree that Fantuzzi Reggiane Group will promote the REGEN system as a proven retrofit technology with all existing Fantuzzi Reggiane Group crane customers. Fantuzzi Group, with its subsidiary company Noell Crane Systems (China) Ltd, has a production capacity of approximately 120 new RTG cranes each year and there are currently over 1100 units in operation around the world.
After a period of technical due-diligence and integration design collaboration between the companies, Fantuzzi Reggiane Group has determined that VYCON’s REGEN System has tremendous potential for integration on the Fantuzzi Group RTGs to provide fuel savings and lower emissions for their customer base.
“We have decided to add the VYCON flywheel system on our cranes to provide customers with new technology to enhance fuel conservation and reduce emissions. As a major manufacturer of high quality cranes, our customers expect Noell to provide them with new advances in technology as they arrive on the market” said Maurizio Altieri, former General Manager of Noell Crane Systems (China) Ltd and newly appointed COO for the Fantuzzi Group.
“We are very pleased with the endorsement of our REGEN System by the Fantuzzi Reggiane Group, said Tony Aoun, President and CEO of VYCON. “The management teams from both companies are very optimistic about the potential for this agreement and how it will positively affect the crane market.”
About Noell Crane Systems ( China ) Ltd. A company of the Fantuzzi /Reggiane Group
Noell Crane Systems (China), a leading Container handling crane manufacturer, was founded in 1996 as a joint venture between German Noell and China Merchants as an independent crane manufacturer to serve the crane fabrication market around the world. Based on German and Italian Design, having more than one hundred years experience, and European standard manufacturing procedures, NCSC delivers high quality STS, RTG and RMG cranes. In addition to Reach Stackers and Empty Container Handlers Designed by Fantuzzi/Reggiane SpA (Italy). For more details about Fantuzzi Group Companies, please visit: www.noellchina.com; www.fantuzzi.com; www.reggiane.com
About VYCON
Established in 2002, VYCON is an innovator in the design and manufacture of technologically advanced, green tech, high cycling flywheel based energy storage systems. The company strives to address the needs of the crane, power quality, rail, and uninterruptable power supply (UPS) markets. VYCON’s products provide a cost effective, reliable energy solution for a variety of applications. For more information, visit www.vyconenergy.com . Media inquiries: Victoria Rierdan Hurley, Grabiner/Hall, Victoria@grabinerhall.com or 310 993 1840.
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