Energy & Engine
Technology Corporation has entered into a business venture with RPM
Management, LLC (RPM) of Camano Island, Wa. to pursue aircraft
re-manufacturing, liquid cooled engine aircraft upgrades, and
turbocharger retrofit systems. The initial step for the venture
calls for the purchase by EENT of certain Turbocharger and Aero
Commander STCs and related assets for a purchase price of 900,000
shares of EENT restricted stock. RPM Management will also become a
consultant to EENT for a term of one year.
The acquisition allows
EENT to further the second part of its business plan for its
aviation subsidiary Wind Dancer Aviation Services, which is the
development and marketing of turbo normalizing kits and
installation of the STC-covered parts on general aviation aircraft,
to a market of over 10,000 aircraft in the US alone. Historically,
competitive kits have sold in the $25,000 to $42,000 range. This
step out allows EENT's aviation division to support its existing
customer base with a full range of general aviation upgrades and
services and will generate increased business through STC parts
production and installations as customer demand builds.
EENT's Wind Dancer, which commenced operation as the FBO at
Stevens Field in Pagosa Springs, CO in December, 2002, is poised
for significant growth due to the acquisition. Initially, the FBO
will supply parts to existing aircraft customers. Wind Dancer is
now able to supply to customers parts to be installed either at
their local FBOs or at Wind Dancer. The next step will be to put
the redesigned kits based on revisions to the STCs back into
production with improvements, with the first design revision to be
for the Twin Commander 500B, U and S models.
Wind Dancer also stands to benefit from the ongoing major
improvements at Stevens Field, which are being spearheaded by the
FAA. Phase I of the improvements, which consisted of purchasing
land and completing improvements to 500 feet of runway at the far
end of the Field, is finished. The Project has commenced Phase II,
which consists of the balance of the rebuild of the runway to allow
aircraft up to 70,000 pounds to land and take off, brings the total
Project cost to approximately $16,000,000.
EENT is a Plano, Texas
- based concern which, among other things, develops and markets
auxiliary power generators for the long haul trucking industry. Its
Wind Dancer Aviations Services business provides fueling and
maintenance for general aviation aircraft through its location in
Pagosa Springs, Colorado. The second phase of Wind Dancer's
business is to develop and market products deriving from general
aviation aircraft STCs.
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