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Exclusive Licensing Agreement for Bonfiglioli to Manufacture and Sell CVTCORP mCVT Patented Technology

October 10, 2018

BOLOGNA, Italy--(BUSINESS WIRE)--Oct 10, 2018--CVTCORP, a world leader in the design and development of revolutionary, high-efficiency mechanical Continuously Variable Transmissions (mCVT) for the off-highway market, and Bonfiglioli, a worldwide designer, manufacturer and distributor of a complete range of geared motors, drive systems, planetary gearboxes and inverters, announced they have entered into an exclusive licensing agreement for Bonfiglioli to manufacture and sell the CVTCORP mCVT patented technology for telehandlers and other equipment. The cooperation between Bonfiglioli and CVTCORP will also include developing a full line of transmissions based on the currently available mCVT.

Included in this licensing agreement are the production transfer of the Ecomec 150, used in the Skyjack Ecoshift telehandler, along with the CVTCORP current sales pipeline with commercialization volume anticipated at the beginning of 2020.

CVTCORP has developed a high-power, efficient and cost-effective mCVT which is currently available as the Ecomec 150, used in the new Skyjack Ecoshift telehandler. The CVTCORP’s mCVT patented technology, the result of over 15 years of development, offers off-highway manufacturers a fully validated and scalable solution that provides unmatched operational ease, engine downsizing opportunities and overall vehicle performance improvements in the 20-30% range.

Bonfiglioli, after the acquisition of O&K in 2015, has become the provider of the largest geared drives range in the market for applications in construction, mining and material handling equipment, driving machine sizes ranging from 1 ton to over 1,000 tons. The continuous improvement in design, proven quality standards and operational excellence recognized by the most respected machine manufacturers worldwide have confirmed, after 40 years of experience in the sector, Bonfiglioli as the geared drives market benchmark.

″ Bonfiglioli’s endorsement of our mCVT technology and their reputation as a high quality, global manufacturer will accelerate the commercialization of our technology in the worldwide construction equipment market,” said Daniel Girard, founder and CEO of CVTCORP. “ We are looking forward to assisting Bonfiglioli with moving forward rapidly into markets where our innovative mCVT technology enables engine downsizing, fuel reduction, increased safety and productivity,” Girard added. ” CVTCORP will work with Bonfiglioli to continue its development of advanced controls and connectivity capabilities to optimize complete vehicle drivetrains and provide construction equipment customers with simple but cutting-edge technology.”

″ Over the last several years, we have worked very intensively to enhance and enlarge our product portfolio in our core markets with excellent responses from our customers. A couple of years ago, when we came across CVTCORP’s technology, it was clear we were in front of a ‘game-changer’ and we immediately recognized the differentiating features such technology was offering and the diversification opportunity for our company leveraging on our market, technology and operational core competences,” says Fausto Carboni, Bonfiglioli CEO.

About

Founded in 2001, CVTCORP is an international company specializing in Mechanical Continuously Variable Transmission (mCVT). The company develops, manufactures and supplies CVTs for construction and agricultural markets. The infinite number of ratios provided by the transmission enables the equipment to do more work with less fuel. At the same time, the technology offers a cost-effective solution for vehicles and equipment outfitted with their innovative products. The company is privately held and headquartered outside of Montreal, Canada. More information is available at www.cvtcorp.com

About

Bonfiglioli is a worldwide designer, manufacturer and distributor of a complete range of geared motors, drive systems, planetary gearboxes and inverters, which satisfy the most challenging and demanding needs in industrial automation, mobile machinery and renewable energy. Bonfiglioli serves more industries and applications than any other drive manufacturer and is a market leader in many sectors. Established in 1956, Bonfiglioli operates in 21 countries, with 14 production facilities and over 3,700 employees worldwide. More information is available at www.bonfiglioli.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20181010005490/en/

CONTACT: CVTCORP

Caroline Mireault

Marketing Manager,

cmireault@cvtcorp.com

or

Camille Distain

External Communications Manager, Bonfiglioli

camille.distain@bonfiglioli.com

KEYWORD: EUROPE NORTH AMERICA CANADA ITALY

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES AGRICULTURE AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: CVTCORP

Copyright Business Wire 2018.

PUB: 10/10/2018 08:05 AM/DISC: 10/10/2018 08:05 AM

http://www.businesswire.com/news/home/20181010005490/en

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