RE: Licensing agreement for marine applicationsNo doubt RailPower and Ocean Tug and Barge have a more detailed sense of the potential market beyond the generality of "significant". But it will be fairly difficult for us to figure out the scope of this market with any precision. When we were trying to figure out the size of the potential market for the Green Goat, we tried to research the number of old diesel tugs, how often they are replaced, etc. As the Green Goat came closer to market, this kind of information began to be published in stories about the Green Goat. So, I think we will have to be satisfied, for now, with "significant".
What is great about the latest deal is that the Ocean Tug & Barge Engineering Corp. ('OTB') will build or retrofit the hybrid tugs using RailPower's technology. In other words its a licencing deal for a new application. RailPower will benefit by selling its hybrid and multi-engine systems in kit form and leave the development work to OTB. Obviously, the market likes the deal.