HydroPhi Announces European License & Distribution Agreement

HydroPhi, a developer of water-based, clean energy technology that delivers improved fuel economy and reduced greenhouse gas emissions, today announced that it has signed a License and Distribution Agreement (LDA) with HydroPhi Technologies Europe Sp z o.o (HTE). The LDA follows the earlier announced LOI entered into between the parties in April 2014. Under the LDA, HPTG grants to HTE 5-year exclusive distribution rights to HPTG's technology in Europe, with the right to renewal in perpetuity, subject to certain conditions being met. Additionally, HTE has agreed to an initial purchase order and will pay to HPTG $1 million of license fees as certain milestones are achieved.

Roger Slotkin, Chief Executive Officer of HydroPhi Technologies Group, commented, "We are pleased to formalize this license and distribution agreement for Europe. Stringent environmental regulations and high diesel prices make Europe a particularly attractive market and feedback from potential government and commercial customers has been quite encouraging."

Wojciech Grzegorczyk, President of HTE, commented, "Based on our due diligence, market research and discussions with potential end users, we are excited to enter into this license and distribution agreement with HydroPhi Technologies Group. We believe HydroPlant is a disruptive technology with the ability to save fleet operators money by reducing fuel consumption, while at the same time reducing emissions to help meet new environmental standards."