Lloyds Engineering Works Limited has entered into a Purchase Agreement with The Material Works Limited (TMW), USA. This agreement grants Lloyds Engineering Works the exclusive rights to design, manufacture, and sell EPS Gen 4 cells globally, with certain territorial exclusions including China, Macao, Hong Kong, Taiwan, and a 350-mile radius of Red Bud, Illinois.

TMW, a US-based company, has developed and patented an acid-less pickling process known as Eco Pickled Surface (EPS) Generation 4 (EPS Gen 4) cells. This technology offers an environmentally friendly alternative to traditional acid pickling methods for cleaning steel surfaces, as it is completely acid-free, uses recyclable materials, and results in zero effluent discharge.

The agreement involves a licensing arrangement where TMW will provide the EPS Gen 4 Technology and related technical support to Lloyds Engineering Works. The company will make annual cash payments, including agreed-upon earnout payments, to TMW for a specified period. Lloyds Engineering Works will be entitled to manufacture and sell unlimited EPS cells using this patented technology.

This collaboration is expected to provide significant benefits, including access to ongoing design improvements, technical and sales training, and TMW's marketing materials. The agreement does not involve any related party transactions or interest from promoter groups.