O2Diesel Corp (OTD) Signs 5-Year Supply Agreement with Energenics Pte Ltd
O2Diesel Corporation (AMEX: OTD) has signed a five-year supply agreement for Asia Pacific & South Africa with Singapore-based Energenics Pte Ltd, a wholly owned subsidiary of Energenics Holdings Pte Ltd. Energenics will brand the pioneering cleaner burning fuel as "EnerDiesel -- Powered by O2Diesel," in Asia Pacific & South Africa.
The transaction consists of an investment by Energenics of $1,000,000 to acquire a holding of O2Diesel Corporation's common stock and a five-year agreement for the supply of O2Diesel's proprietary fuel technology which replaces the company's previously announced supply and distribution agreement with Blue Diamond Australia Pty Ltd.
The transaction consists of an investment by Energenics of $1,000,000 to acquire a holding of O2Diesel Corporation's common stock and a five-year agreement for the supply of O2Diesel's proprietary fuel technology which replaces the company's previously announced supply and distribution agreement with Blue Diamond Australia Pty Ltd.
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