Nokia Stock- Israel’s Aquarius, Nokia to supply micro-generators to southeast Asia
TEL AVIV, June 1 (Reuters) – Israel’s Aquarius Engines said on Monday it has signed a partnership deal with Nokia to provide energy to millions of people in Asia without access to the electrical grid.
Initially Nokia will roll out lightweight Aquarius generators in remote populated areas and telecommunications centres in southeast Asia.
Aquarius forecast that by 2022 the company will supply more than 250 million euros ($277.5 million) worth of generators to this market through the partnership with Nokia.
The program will be implemented in stages with the initial plan to station generators on remote islands in the Philippines. Initial field tests will begin on a Philippine island that is a two-hour boat ride away from the nearest grid connection where thousands of residents do not have access to electricity or clean drinking water.
“This initial project provides affordable, manageable power to rural and remote locations,” said Stuart Hendry, vice president of Nokia Enterprise, Asia Pacific. “The Aquarius Engines technology enables us to open huge markets that were once totally off-limits.
Separately, Aquarius said former Bank of Israel governor Jacob Frenkel joined its board of directors.
In November the firm signed a deal with Japanese auto parts maker Musashi Seimitsu to co-develop its linear engine. ($1 = 0.9011 euros) (Reporting by Tova Cohen Editing by Steven Scheer)