14 March 16
On March 9th 2016, the Board of Directors of Kirloskar Oil Engines Limited (KOEL) ratified a license agreement proposed between Kirloskar and BioCube Corporation that takes the business relationship to a new level. BioCube and KOEL signed a landmark agreement in 2014 to commit to a partnership to distribute BioCubes and, in time manufacture under license in India. Consequently, BioCube sent a machine to KOEL’s manufacturing plant in Pune. It has been operating it there since January 2015 providing reassurance of its performance capabilities through multiple demonstrations to prospective customers.
Under the terms of the new agreement, KOEL will manufacture BioCube equipment under license in India as well as provide on-going service and support facilities for BioCubes in territory.
The important addition from the previous agreement is that KOEL will now market and sell BioCubes in India throughout their sales network and across their product lines. KOEL will provide on the ground maintenance and service support for BioCube units through its extensive network of service facilities. It is reported there is nowhere further than 75kms from a Kirloskar service centre in India....
... David Tait CEO of BioCube, who was in Pune for the signing said: ”This is a meaningful and significant shift in the relationship between KOEL and BioCube, bringing the entire sales network of this huge Indian company to bear on the BioCube. It will make a seismic shift in the potential sales trajectory within India.”
Mr RR Deshpande, Executive Director of KOEL noted that the entire board of Kirloskar are energized by the potential impact of the BioCube and is keen to start deploying BioCubes. “Given the level of interest in India for fuel security and the recent regulatory changes the government has enacted for Biodiesel, as well as the synergies for its core businesses KOEL has decided to raise its involvement in BioCube Corporation” he said..."
Read the full press release by clicking on the link below.