Hy-Drive acquires Clean Technology controller platform

Hy-Drive Technologies, a company involved in the research and development of hydrogen and control technology, has announced it has completed its agreement with I.C.E. Fuel Technologies under which Hy-Drive acquired the Intellectual Property (IP) assets to the multi-fuel combustion controller paving the way for global expansion into multiple diesel emissions and fuel economy applications and markets through the rapid addition of engine platforms.

Acquiring the controller platform IP and combining it with its internally developed toolset and telematics product is an exciting move for Hy-Drive as it gives them the ability to build-on and strengthen a technology offering that has already drawn proven results.

Hy-Drive has created an alternate energy based combustion controller for diesel, transport and power generation engines that has already passed extensive S.A.E. testing protocols. Earlier this month, Hy-Drive signed agreements with WorldKlass Technologies for power generation and Greencell Technologies for truck transport to rapidly expand distribution, reducing harmful gas emissions while improving fuel economy.

"Completing the project with ICE and internalizing the IP is an important step to streamlining the development process as we move more towards the greening benefits our technology can potentially offer,” said Hy-Drive president and CEO Robert Bucher. "Emission rules are being set and fuel continues to rapidly increase in costs. Hy-Drive now has the platform to assist industry in solving these problems."

In the fall of 2009 Hy-Drive entered into an agreement with ICE to develop and acquire Intellectual Property Assets towards the enhancements to their Hydrogen Generating System. This agreement has come to a conclusion and the new deal signals a move into a broader marketplace for Hy-Drive.