Water technology company signs licence agreement

Thursday, 17 July, 2008

An Australian water technology company has signed a licence agreement with a leading Japanese resources and commodity business.

The evaluation licence agreement between Sydney-based Ioteq IP and Tokyo Stock Exchange-listed natural gas company Kanto Natural Gas allows both companies a 12-month window to evaluate the Japanese market potential of the Isan system, Ioteq’s patented iodine-based water disinfection system.

Developed originally from NASA water recycling technology, Ioteq has already sold more than 150 systems throughout Australia and New Zealand. According to Ioteq CEO Jared Franks, the signing of this agreement is an important development milestone.

Dr Tatsuo Kaiho, general manager of Kanto Natural Gas, said a unique aspect of the relationship is that it is the complete reverse of the traditional business pattern between Australia and Japan, where Australia supplies natural resources while Japan provides the technology. In this case, Kanto Natural Gas has the natural resource — iodine — and Ioteq has the technology.

“This agreement sends a clear message that Japan remains a critical trading partner for Australia both within traditional channels and new territory. It also shows that, due to global competitiveness, a number of Japanese businesses are thinking outside of traditional paradigms and that enterprising Australian businesses, regardless of size, can leverage from these opportunities,” Tokyo-based Matthew Abrahams, president of International Trade & Management Limited and a key figure in negotiating the agreement between the companies, said.

 

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