Mumbai, Jan. 12 -- TMW, a Delaware-incorporated company engaged in toll processing of flat-rolled metals, has developed and patented the EPS Gen 4 technology over the past 15 years. Under the agreement, Lloyds Engineering will receive a licence to use TMW's patented technology, along with related technical support services, the company said.

The agreement allows Lloyds Engineering to design, manufacture and sell EPS Gen 4 cells globally, excluding China, Macao, Hong Kong, Taiwan, and within a 350-mile radius of Red Bud, Illinois, US. The arrangement is structured as a licensing deal, with annual cash payments to be made as per the purchase agreement.

Lloyds Engineering will be entitled to manufacture and sell an unlimited number of EPS ...