COQUITLAM, BC -- 08/20/07 --
Ikona Gear International, Inc. (OTCBB: IKGI)
("Ikona"), an innovator in compact, lightweight, gearing systems solutions,
today announced that it received an initial US$150,000 order from Cummins
API S.A. for its new 1100HDC hydraulic power take-off (PTO) product for the
oil and gas industry.
Cummins API S.A. is a South American distributor for Cummins Inc. and Imo
Pumps. Cummins, Inc. is the world's largest designer and manufacturer of
diesel engines ranging from 55 to 3500 horsepower. IMO Pumps, member of
Colfax Pump Group, is the world's largest designer and manufacturer of
rotary positive displacement pumps. Cummins API S.A. has been supplying
pumping packages to the oil and gas industry since 1983.
An Ikona 1100HDC hydraulic power take-off (PTO) is used to drive a mud pump
(fluid pump) as the means of transmitting the power to it from a diesel
engine. The 1100HDC provides a smooth engagement, soft start, high-speed
clutch disengagement and an all steel torsional coupling. The unit features
overhaul intervals of 50,000 hours and electrical controls suitable for
integration with the diesel engine controls.
"Having received this initial purchase order we are excited about the
opportunity of working with Cummins API in the South American market,"
commented Laith Nosh, Ikona's President and CEO. "We believe that the new
1100HDC will significantly enhance our current product offering in the oil
and gas industry."
Over the last 18 months, Ikona has mainly focused on designing, developing
and building its product portfolio for the oil and gas industry. To date
the company has developed single speed and dual speed mud pump drives, an
AC gear-driven drawworks, an AC 2-speed planetary drawworks, and a
hydraulic power take-off. Ikona's products, which are designed and
manufactured specifically for oil and gas drilling rigs, weigh less,
present a smaller footprint, and are more energy efficient than competitive
products. The innovative design of these products has made them relatively
maintenance free.
About Ikona Gear International, Inc.
Ikona Gear is focused on the design and manufacture of innovative and
patented solutions for gearing and power transmission applications, a $100
billion market. The Ikona gear system is better, stronger, more precise,
and generally superior to standard gearing systems. The Company's unique,
patented technology is ideally suited for deep ratio, weight and size
constrained applications where often it is the only solution. The Ikona
gear technology is the only technology that enables internal gear-sets with
only one tooth difference, resulting in a much higher meshing of gears, and
significantly higher gear ratios -- very important factors, especially in
plastic gearing solutions. Ikona trades on the Over the Counter market
under the symbol "IKGI" and on the Frankfurt Exchange under the symbol
"IG2." For more information on Ikona, please visit www.ikona.ca/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:
This news release contains forward-looking information within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, including statements
that include the words "believes," "expects," "anticipate" or similar
expressions. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements of the company to differ materially from those
expressed or implied by such forward-looking statements. In addition,
description of anyone's past success, either financial or strategic, is no
guarantee of future success. This news release speaks as of the date first
set forth above and the company assumes no responsibility to update the
information included herein for events occurring after the date hereof.
CONTACTS:
Investor Relations
Marty Tullio
McCloud Communications, LLC
949.553.9748
Email Contact
Company
Scott Rose
Ikona Gear International
604.523.5507
Email Contact
