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18 September 2006
ORBITAL AND BAJAJ SIGN NEW LICENSE
FOR GASEOUS AUTORICKSHAW
Perth, Australia: Orbital Corporation
Limited and Bajaj Auto Ltd, India have announced an expansion of
their licensing arrangements to cover liquid petroleum gas (LPG)
and compressed natural gas (CNG) applications. In May 2004, the
parties announced a Technical Cooperation Agreement that will see
Orbital's fuel injection technology applied to Bajaj's autorickshaw
three wheeler vehicles. That Agreement was directed to gasoline
fuelled applications and this new arrangement will enable the addition
of two new gaseous models to the three wheeler range.
In support of this expanded arrangement Orbital
and Bajaj have initiated a new comprehensive engineering program
to introduce this technology on these two new models.
Bajaj, based in Pune, is one of India's largest
producers of two and three wheelers and dominates the autorickshaw
market segment in Asia. The autorickshaw is the ubiquitous form
of transport throughout India and much of Asia and is currently
enjoying strong growth. The Indian market is increasingly emissions
conscious with more stringent emissions standards introduced in
2005 and further strengthening happening in 2010. The market is
also very fuel economy conscious and Orbital's direct injection
technology provides significantly improved fuel economy and vehicle
operating costs, in addition to desirable fuel flexibility.
.
The expansion of the Technical Cooperation Agreement to cover LPG
& CNG applications will provide Bajaj with the ability to satisfy
the burgeoning market for gaseous powered vehicles. India is making
significant investments in the LPG and CNG delivery infrastructure
and has mandated the exclusive use of CNG fuel for Commercial Vehicles
in the city of Delhi.
Bajaj is currently conducting pilot fleet manufacture
and field trials of its Orbital direct injection gasoline powered
autorickshaws.
"Our Orbital equipped gasoline autorickshaw
program is progressing well and this expansion in to LPG/CNG is
a natural progression to ensure that our customers can enjoy outstanding
fuel economy and reduced emissions, along with improved drivability
across a number of different fuels." commented Bajaj's Managing
Director, Mr. Rajiv Bajaj. "Bajaj R&D will be distinctively
ahead to deliver real additional benefits to the consumers in an
emission - efficient way!!"
"We are very happy with this expansion
of our relationship with Bajaj, who have a very innovative and creative
engineering group," said Orbital's Chief Executive Officer,
Dr. Rod Houston. "This is a key step along a new road to the
development of new gaseous products based on our core technology
which enhances royalty and engineering opportunities."
Forward Looking Statements
This release includes forward-looking statements
that involve risks and uncertainties. These forward-looking statements
are based upon management's expectations and beliefs concerning
future events. Forward-looking statements are necessarily subject
to risks, uncertainties and other factors, many of which are outside
the control of the Company, that could cause actual results to differ
materially from such statements. Actual results and events may differ
significantly from those projected in the forward-looking statements
as a result of a number of factors including, but not limited to,
those detailed from time to time in the Company's Form 20-F filings
with the US Securities and Exchange Commission. Orbital makes no
undertaking to subsequently update or revise the forward-looking
statements made in this release to reflect events or circumstances
after the date of this release.
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