Japanese auto-parts manufacturer TPR, a publicly-traded manufacturer of engine components for the global automotive industry, on Tuesday announced that it has invested $5M in Aquarius Engines.
The company is already a non-material shareholder in Aquarius Engines, and the new capital will accelerate the development, production, and distribution of the Aquarius Engine in Japan and beyond.
Ariel Gorfung, CEO, Aquarius Engines, said, 'TPR is a leading force in the Japanese automotive industry, specialising in engine parts. Beyond the monetary investment, we see TPR as a natural partner to champion our interests in Japan and beyond. As we continue to promote and explore collaborations with other significant strategic players in all of our global target markets.'
TPR was the second major Japanese automotive company to invest in Aquarius Engines following Honda-affiliate Musashi Seimitsu in 2019.
In November 2021, Aquarius Engines reported its first purchase order for generators from the Italian-based Tecnoelettra, which supplies state-of-the-art power solutions to a wide range of clients, including those in the telecommunications industry. The €5M order was received after successfully completing a series of field tests, with the supply of generators to begin in stages from October 2022 until the end of 2023.
The 10kg Aquarius Engine was invented in 2014 and is designed as an onboard power generator in a vehicle or as a stand-alone electricity generator. Unlike most conventional engines that are made of hundreds of parts, the Aquarius Engine has just twenty components and one moving part. The lightweight, streamlined design makes it inexpensive and highly efficient with minimal maintenance compared to traditional engines.