O2Diesel Corp (OTD) Signs 5-Year Supply Agreement with Energenics Pte Ltd
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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.
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