Pricol signs MoU with Kerdea Tech for O2 sensors
Pricol Limited has announced a new exclusive licensing agreement with Kerdea Technologies, a US technology company and pioneer in resistive-based sensors, for Oxygen (O2) sensor. With Kerdea’s patented technology in oxygen sensor and Pricol’s superior manufacturing capabilities, this product will be made ready to cater to combustion engine applications in the two-wheeler and three-wheeler vehicle segments in India. With this strategic partnership, Pricol’s intention is to expand its sensors portfolio in India and be ready for the upcoming BSVI emission regulations in 2020.
The oxygen or O2 sensor, is designed to constantly monitor the oxygen content in the exhaust gases from the engine. O2 sensors help to maintain the right air-fuel mixture so that the engine run efficiently with emissions well within the norms. Pricol recognises the need to invest in such next-generation solutions that will deliver better performance and be environment friendly.
Vikram Mohan, MD, Pricol Limited said, “In a fast-changing environment, it is critical to draw upon the highest level of expertise to design the technologies of tomorrow. We are excited to partner with Kerdea to bring innovative, ground-breaking technologies to our Indian customers. After the rollout of BS-VI norms by 2020, Pricol is expecting to add over USD 60 to 70 million to its top line with a healthy EBITDA margin with the products developed through Kerdea’s technology.”
Douglas M. Carnes, CEO, Kerdea Technologies said, “We are extremely happy to partner with Pricol to create a transformation in the O2 sensor market and thereby create a pollution free India with the use of O2 sensors. This licensing partnership will help us expand our footprint in India by redefining fuel efficiency and emission control and thereby improve product performance for two-wheeler and threewheeler vehicle segment in India.”