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"$10 billion contract, 1,000 local jobs on line"
Published: October 17, 2007 11:10 am
"Lockheed Martin and JWF Defense, a subsidiary of JWF Industries, are locked into nationwide competition for a contract to build a military vehicle to replace the well-known Humvee – about 140,000 of them to be exact; the entire fleet."
"Any edge on the competition is important at this point, Hasse said, because the timeline on the project is beginning to tighten."
"War or no war, military experts see a bright future for the JLTV in America’s defense arsenal. Making Johnstown a big player in its production would give a big boost to our economy."
http://www.tribune-democrat.com/editorials/local_story_290111052.html
Newspeed; I know you said 40,000 vehicles, but this article says 140,000 vehicles.
Well, it seems to me that this 140,000 number includes all replacements while your number included the immediate needed ones.
It also seems that Torvec can give this team quite a few edges that they might and will need to secure the contract lead.
Lockheed Martin's FTTS technology demonstrator...
Ok, FTTS is short for (Future Technology Truck System)
Here is a link to see a photo of and to read more on Lockheed Martins effort in the JLTV program.
http://www.weeklystandard.com/weblogs/TWSFP/2007/02/replacing_the_humvee_1.asp
The photo does not show the high ground clearance that everyone is speaking about.
That gound clearance advantage might be one of the reasons for Torvec's role in the partnership.
Of course, this article is a very early one in this new effort.
I would be sure that this design has already been changed from the picture in this link.
I agree, I think that you are right....
But, keep in mind, that the confusion was created by members of the I-hub board jumping to some conclusions.
I knew which were facts and which were speculation and I was tempted to fall for it myself.
The people at Torvec have not caused the confusion; they are busy and are working in our best interest.
We can't expect them to look here for signs that we are confused by our own cause and try to take time to sort that out.
Let's just be exuberant about the facts, not all the speculation..
That was a March 08, 2007 article from Mike...
The picture and information would have been available on March 09, 2007.
Yes, I realize that all of that was a JLTV program instead of the MRAP Program.
All of the post announcement chatter, for the most part, here on I-Hub has been focused on the MRAP, not the JLTV.
That made it confusing to reconcile the numbers when we were discussing two different projects.
It is refreshing to see that there is not a discrepancy now.
But, from the last CEO update, there was an indication that various size CV Joint units are available for various applications.
I was thinking that certainly Torvec's CV Joints could in fact serve both applications.
I would be sure that Senator Clinton thinks that is possible also.
Does Lockheed Martin involve itself with the production of MRAP's?
Thanks for clearing up this point of interest.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23699006
Oh, by the way, you mentioned that Torvec is competing with Lockheed Martin to secure the contract for the JLTV; don't you really mean that they are now partners in an effort to secure the contract for the JLTV?
"First 40,000 vehicles will be contracted"?....
Could you expand on that a bit?
There was a report that the Pentagon was making an attempt to "To meet its target of 15,200 vehicles" by "ask(ing) Congress to authorize an additional $8.2 billion in funding to order another 6,500 vehicles by Dec. 1."
http://www.presstv.ir/detail.aspx?id=27739§ionid=351020201
http://www.businessweek.com/ap/financialnews/D8SBU09O0.htm
Where do the other 24,800 vehicles fall into this scenario?
Looks to me that Lockheed Martin's chance to get orders for these will be part of the 6,500 vehicles that will be ordered by December 01, 2007.
Do you see it differently that this?
Pentagon orders 2,400 armored vehicles..
"The Pentagon said Thursday it is ordering an additional 2,400 bomb resistant armored vehicles for its soldiers in Iraq and Afghanistan from three manufacturers in a deal valued at $1.2 billion."
"Armored vehicle-makers had been expecting a string of new orders from the Pentagon following a decision by U.S. lawmakers to budget $5.2 billion for the mine-resistant, ambush-protected vehicles in a temporary spending bill."
"To meet its target of 15,200 vehicles, the Defense Department plans to ask Congress to authorize an additional $8.2 billion in funding to order another 6,500 vehicles by Dec. 1. "
http://www.businessweek.com/ap/financialnews/D8SBU09O0.htm
I see that there is lots of business out there.
Ice is just another name for a diamond.
I think I now know why.
It seems to me that this royalty stream is getting closer every day.
It would be hard to believe that they would purchase back the rights to the tech with not only $5 Million USD but also offer a 5% of gross receipts royalty payment and not have an immediate plan to commercialize the technology into numerous land based vehicles.
I'll be watching for an update on that diamond.
I sometimes wonder why Torvec's financials failed to recognize the $5,000,000 selling price. Was it due to the litigation from the three prior employees?
Maybe that revenue will be on the upcoming Torvec financials.
Actually, we might just blow right past it....
There is no practical reason for this stock price to be less than the 52 week high of $6.60 or so.
The news is much better now than it was back then.
The company is in a much better position than it was back then.
Opportunity has knocked and a partnership has been formed.
Timing and purpose of Senator Clinton's news...
Sure that had to play as a factor, I agree.
However, creating real manufacturing jobs in NYS has to be a primary motive also.
Torvec has so much potential to create jobs that the possibilities are enormous.
Each one of the technologies in Torvec's sole possession can produce jobs.
People will have to move back to NY in order to have enough skilled workers to produce all the products.
And, Senator Clinton can stay involved and make a dozen more announcements at will all along the way.
Ice Tech Royalties steps closer and closer...
"New technology from a company called Ice Engineering could have the tower's walls ice-free in a flick of a switch.
Victor Petrenko, a professor at the Thayer School of Engineering at Dartmouth College has developed a film that uses an electric pulse to melt ice and snow in less than a second."
"It can be applied to any surface – including concrete, which makes up the CN Tower."
http://www.thestar.com/News/article/189007
“We can clean any glass, including automotive glass, in about one second with the power available in the usual passenger car and, of course, on trucks,” Petrenko told me, speaking in his thick Russian accent. “This is a real breakthrough.”
http://www2.ljworld.com/news/2007/jan/21/toplikar_chip_cold_block/
Ok, now how about putting this film on land based vehicles?
Collecting royalties while collecting the sale proceeds would put the ice-ing on the Torvec stock value!
The trigger for the commercialization event.....
will not be based just on a contract. It will be based on an actual commercialization event. A commercialization event, of course, could be driven and triggered by either a contract or a partnership.
I really think that this arrangement between Torvec and Lockheed Martin is a partnership agreement, not a contractual agreement. However, we will soon know the details. My point on this last post was to show the difference between the reporting of the same news story. Most reported the arrangement as a partnership while UPI reported it as a contract. This was interesting difference, that’s all.
I agree, this is the best news so far, and I believe that this is just the beginning of lots of great news that will be soon to come.
I sure hope that the commercialization event is eminent. That's what we all have been so patiently waiting for.
Torvec to support military vehicle program
"ROCHESTER, N.Y., Oct. 17 (UPI) -- Lockheed Martin announced it has contracted New York-based Torvec Inc. to support the company's tactical wheeled vehicle programs.
Torvec is an automotive technologies company that develops transportation safety, mobility and fuel efficiencies among others specialties. Lockheed Martin contracted the company for stability and control technologies to Lockheed Martin's military tactical wheeled vehicle programs."
http://www.upi.com/International_Security/Industry/Briefing/2007/10/17/torvec_to_support_military_ve...
This take on the news from UPI states the announcement with a special flavor. More of a contract one instead of a partnership one. Interesting.
Metamorphic amphibious vehicle......
"The next generation of military vehicles will need to suitable for deployment anywhere in the world within hours rather than weeks or months. This places important limitations on the size and weight of these vehicles – they must be both small and light enough to by carried by aircraft and also be capable of driving over rough ground or through thick vegetation as well as moving swiftly along conventional roads."
http://www.newscientist.com/blog/invention/2007/10/metamorphic-amphibious-vehicle.html
You guys need to check this one out.
I can't believe they even printed this.
The picture is astounding.
Didn’t the American Continental Group crew show the Oshkosh guys the FTV?
Why are they trying to reinvent that piece of equipment?
I guess Lockheed Martin will have the right partnership and solution for this "easy to solve" problem.
It is hard to explain, but I'll try....
In a 2 for 1 stock split, the number of shares that you have double while the stock price gets cut in half. So the values that you have before and after the split are the same. The reduced number of shares times the higher stock price is equal to the higher number of shares times the lower stock price.
When a company pays for a liability with shares, the number of shares outstanding are increased, but the value of the company is more by that same amount (because there is no longer a liability to reduce the value). So, if you divide the original smaller company value by the original lower number of shares you would come up with the same value (in price per share) as when you divide the higher new company value by the higher number of shares that are now outstanding because the liability was paid with shares.
Some persons would confuse the creation of a liability "decrease in company value" with the payment of the liability "increase in the number of shares outstanding". They are, however, entirely different events.
I hope that does help.
I just noticed that your question was deleted.
I'm not sure why. Maybe you figured that out on your own and withdrew the question, or maybe someone took a TOU offense to the question. Well, anyway, I though it was a good question and I'm sure others would wonder the same thing.
It should have no effect in the end
The best information is in the SEC filing at this link
http://app.quotemedia.com/quotetools/showFiling.go?name=TORVEC%20INC:%208-K,%20Sub-Doc%201&link=...
They will use the shares to pay for expenses such as:
The commercializing Event Plan payments
The company’s Business Consultants Plan payments
The nonmanagement Directors Plan payments
Since all of these expenses are already part of the value of the company, the issue of the shares to make these payments will not reduce the value of the shares. (In a perfect world)
It seems that there is an intention to split and exchange for the stock of a acquiring company.
It seems that there is a need for more shares to be issued also to be listed on the next stock exchange level.
Of course the company could offer some shares on the market to acquire cash.
These shares were authorized for all of these reasons.
It is interesting that that happened almost exactly one year ago.
Tor, what meaning does the little "z" have...
in the trading detail being reported?
for an example:
z 3.55 5000 OBB 10:35:44
I thought that it was reserved for trades that are made before the market opened or after the market closed.
I'm confused why one is reported at this time of the day.
Maybe we should order some scones to take...
them to Torvec's new location. The news crew might follow.
Or, we could take the scones (with the news crew to follow) to Eliot Spitzer's announcement this afternoon in Rochester just in case Torvec is mentioned there.
Looks like Torvec will today....
Cross the 200 day moving average of $3.78
http://investorshub.advfn.com/boards/read_msg.asp?message_id=12423546
This could be a good day.
Well, they can still get the story......
from the newswire.
Maybe someone should tell them the new address and or phone number.
This could save some time so they don't have to investigate the recent move.
CNNMoney.com picked up the Torvec news today.
http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYTU01916102007-1.htm
Next thing might be the Rochester Business Journal and the local D&C.
They can get the story from these quys.
'Morph' axle technology for superior next-generation amphibious vehicle
"Oshkosh says the trick is to allow the axle to "morph", which in other words means that the axle can pivot in its centre so that both wheels can ride up and down independently without affecting the vehicle's overall distance from the ground."
http://www.dailyindia.com/show/182987.php/Morph-axle-technology-for-superior-next-generation-amphibi...
Now, wasn't that technology part of the design of the new lunar rover that Torvec was working on?
I seem to recall that there would be Iso-Torque differentials located at each set of dual wheels that would allow the wheels to 'Morph' so to speak.
Did that technology developed at Torvec get patented as of yet?
Governor to Bring Economic Development Ideas to Rochester
"Monroe County Executive Maggie Brooks says she doesn't know what the governor has in mind, but she's excited about it."
http://www.publicbroadcasting.net/wxxi/news.newsmain?action=article&ARTICLE_ID=1166048§i....
Now wouldn't it be nice if the Governor mentioned Torvec later today?
A school bus project would be a nice announcement, wouldn't it?
That would be interesting.
A new achievement with the constant velocity joint.
A new form of constant velocity (CV) joint is an exciting prospect because around 400 million — worth more than $30 billion — are made every year.
http://www.theage.com.au/news/business/country-engineers-taking-the-joint-by-storm/2007/10/14/119230...
Looks like Torvec will have some companies nipping at the heels.
Glad to see that the US Military is proving the Torvec CV Joint.
Partnership Between Torvec, Inc. And Lockheed Martin
http://www.allamericanpatriots.com/48734988_hillary_clinton_hillary_clinton_senator_clinton_welcomes...
Looks like the story is being picked up in other places today.
Nice to see progress in the effort in getting the word out.
Thanks, I saw it on the map after....
I had looked at and mentioned the main developed 21.93 Acre parcel. It appears that the two other parcels with 25.14 and 6.99 acres of vacant industrial land are adjacent to and behind the main parcel. It appears that all three parcels are controlled by the same owner. This should provide a great place to demonstrate some of the capabilities of the FTV. I sure would like to see the FTV maneuver on a challenging terrain. My concern is that this area is basically flat land and might not offer much of a challenge to a vehicle with that type of capability. Thanks for following up and clearing up that matter for us.
You must have missed the announcement...
of the new marketing effort.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23040774
Maybe you just thought that this was inadequate.
I’m just not sure.
……..Or maybe it goes like this.
"Who says that we aren't doing a marketing effort"
Or
"Who says that the Torvec tech isn't in there"
That one is my favorite one.
Sorry guys, I'm just having one of those days.
The simple solution....
to all of this effort at GKN, IMO, would be to replace all of this:
"GKN Driveline's Torque Vectoring hardware units are based on a modular, cost effective approach, designed to be easily adaptable to a range of vehicles. Two units per axle provide the requested vectoring torque by a superimposition planetary gear set electronically controlled at the ZF system level by an electric motor actuated clutch. GKN Driveline's actuator hardware basically consists of a wet clutch and a two-stage ball ramp mechanism to achieve the accuracy within the required response time. The gears of the planetary gear set are only active when needed to realize best fuel efficiency. The wet clutch is designed for high thermal capacity and very low drag torque. Various unique features including the design of the gears and the ball ramp have been introduced and patented by GKN Driveline."
with:
Torvec's Iso-Torque differential and a couple of Torvec's new and improved constant velocity joints.
Wouldn't that provide all the Torque Vectoring that any manufacture could possibly desire without all the intensely expensive features included in GKN's method of solving the problem?
This would eliminate the need for:
a superimposition planetary gear set,
an electronically controller at the ZF system level,
an electric motor actuated clutch,
a wet clutch,
and a two-stage ball ramp mechanism.
Not to mention: the elimination of all the engine control unit engineering and software development and wiring that would be required to facilitate all of this unnecessary equipment.
New platform for Joint Light Tactical Vehicles.......
"BAE Systems and International Military and Government, LLC, an affiliate of Navistar International Corporation (OTC:NAVZ), announced they will team to produce a platform for the Joint Light Tactical Vehicle (JLTV) program. This dynamic team will also be investigating other global opportunities for success with militaries around the world."
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20071009006...
Kalmar's hybrid terminal tractor projects:
"The terminal tractors will use a diesel-hydraulic system that will combine the cleanest available diesel engine technology with components that use hydraulic fluid compression to store energy. The hybrid technology is expected to improve the vehicles’ fuel efficiency by 50 to 60 percent, reduce or eliminate emissions during idling, and decrease brake wear. "
"Every fourth container or trailer transfer at terminals around the world is handled by a Kalmar machine. The company also supplies a wide range of machines to demanding industrial customers for applications as diverse as handling steel and paper to shunting road trailers at distribution hubs."
http://www.newsdesk.se/pressroom/kalmar_industries_ab_/pressrelease/view/kalmar-to-provide-coast-to-...
NTN Corporation unveils inexpensive constant-velocity joint
Japan's NTN Corporation claims it has developed a new constant-velocity joint that costs 20% less to manufacture.
The part is aimed at low-cost vehicles priced at less than 1 million yen that Toyota, Nissan Motor Co. (TSE:7201), France's Renault SA and other automakers plan to launch around 2010 in Japan and the BRIC countries of Brazil, Russia, India and China.
http://www.tradingmarkets.com/.site/news/Stock%20News/681423/
Ok, Now let's get going.......
"The Torsen works in a four-wheel drive"
Here is a good example:
"the hybrid (Lexus LS600h) gets a clever variable transmission that’s mated to a Torsen differential that divides the engine’s power between the front and rear wheels. Yes, you read that right. This car is a four-wheel drive."
http://www.acceleratebristol.com/carReviewsMain.asp?lngDocID=%7BEE36EA2A-7507-4382-AF77-C6EFB3774589...
It is nice to see applications still being thought of for the old torsen differential. Wouldn't it be nice to see all of those "stepped up" to the Iso-torque differential? Now if they put a Iso-torque in this application instead of the Torsen differential that would be a betterment IMO. Then a couple of Iso-Torques, one in the front axle, and one in the rear axle; a manufacturer would essentially have "all wheel drive" instead of 4 wheel drive. But, I guess they can't do that till they get a license to do that from the Torvec. My guess is that we will be hearing from the Lexus people soon.
I bother to mention it occasionally because.....
they are IMO a competitor. There is no other reason.
On the point of Reverse, Neutral, and Overdrive; I should have chosen different words; Try these.....
"However, the torque control capability of Torotrak’s IVT allows the variator to be incorporated within a “two regime mechanical shunt” transmission arrangement to provide forward and reverse operation, generation of high output torques and extraordinary overdrive capabilities (approximately 60 mph / 1000 rpm). In addition, the IVT employs a geared neutral function which provides a zero output speed with the engine rotating so eliminating the need for an inefficient starting device such as a slipping clutch or torque converter."
I translate a "“two regime mechanical shunt” transmission arrangement" and "a geared neutral function" as additional Transmissions.
That would mean that this is essentially 3 or 4 transmissions once all this stuff is added to the part you are speaking of.
All of this is from this link:
http://www.discoverhybridcars.com/environmental-news/application-of-torotrak-ivt-to-optare-bus-deliv...
Honda Develops HFT for Motorcycles
"A transmission system with a wide range of functions in a single unit, the HFT is a compact and highly efficient infinitely variable transmission system encompassing functions for starting, power transmission and shifting, all on a single shaft. The basic configuration of the system consists of an oil pump for converting engine power into hydraulic pressure, and an oil motor for converting the hydraulic pressure back into power for output. Both are made up of multiple pistons, a distributor valve and a swash plate for piston operation, while the cylinders are integrated into the output shaft, forming the characteristic structure of the HFT."
http://www.huliq.com/36769/honda-develops-hft-for-motorcycles
http://www.visordown.com/motorcyclenews/view/honda_develop_new_form_of_motorcycle_transmission/1582....
If we wait much longer, they will have these in cars and trucks.
As soon as they put this in a Goldwing, I will have one.
They have had an earlier version of one of these in ATV's for years.
See you later, but keep in mind.....
That "The variator alone cannot provide neutral and reverse drive, nor can it provide the ratio spread to achieve high overdrive."
They have to install two additional transmissions to accomplish these features. One for Reverse, and one for Neutral.
You might want to re-read that part.
Incidentally, if anyone has beaten Torvec, it was John Deere, not these guys.
And, one of the top guys from John Deere is now at Oshkosh, remember?
Testing was independently performed on the IVT at......
the “Millbrook London Transport Bus” (MLTB) Cycle, at Millbrook Proving Ground, UK; and Optare UK, one of Europe’s top bus manufacturers, have recently achieved a 19% fuel economy improvement in an Optare Solo Bus by replacing the standard fit 5-speed automatic transmission with a prototype Infinitely Variable Transmission (IVT).
http://www.discoverhybridcars.com/environmental-news/application-of-torotrak-ivt-to-optare-bus-deliv...
I recall that Torvec's testing results were superior to this device. I don't recall that Torvec ever placed one in a bus to be independently tested. I'm sure that if they did, those results would be superior also.
That is really great news, thanks.....
I was hoping that someone could confirm that point.
I too thought that this technology could be used in a standard four wheel drive application.
You know, one where only two wheels drive, one in front and one in back.
Was that what you were referring to?
I hope not.
Just in case, I was referring to all wheel drive, not four wheel drive.
My Ford Excursion is 4WD and it can get stuck on level a wet dusting of snow covered grass.
My Subaru auto is symmetrical all wheel drive and can get the truck unstuck when necessary.
It would seem to me, that there would be three iso-torque differentials involved in a 4 wheel all wheel drive environment.
One iso-torque differential to decide on power to the front or the back axle,
and one iso-torque differential for the front axle governing the right - left wheel,
and one Iso-torque differential for the back axle governing the right - left wheel.
Is that how it is to work?
Torotrak clinches Tata deal
Vehicle gearbox technology innovator Torotrak has agreed to license its 'infinitely variable transmission' technology to India's £4.5 billion Tata Motors.
http://www.growthcompany.co.uk/news-and-comment/260454/torotrak-clinches-tata-deal.thtml
Let's get going guys........
A new generation of quattro permanent four-wheel drive
features an asymmetric/dynamic distribution of power and torque. In layman’s terms, this means that a Torsen (torque sensing) differential can direct up to 100 per cent of the engine power and torque to one axle whenever appropriate. More flexible than before, this aids grip, agility and speed of response. The old 50:50 ‘normal’ torque split has been revised in favour of a more exciting 40:60 arRangement between front and rear axles, resulting in a car that feels more like a rear wheel drive sports car while still offering excellent traction.
http://www.acceleratebristol.com/carReviewsMain.asp?lngDocID=%7B5B59892B-CED3-44AF-9DDB-2CCE34302E35...
Question; With everyone interested in all wheel drive these days, can the Iso-Torque technology be utilized in an all wheel drive application?
Demand is surging.....
and BorgWarner is developing 27 dual-clutch programs for various manufacturers.
BorgWarner's "drivetrain" unit, which makes transmission and torque-management products, accounts for about a third of revenue. Car enthusiasts praise its industry-leading dual-transmission technology -- essentially, a manual transmission with the option of automatic drive -- launched in Europe in 2003 with Volkswagen (VOW.Germany).
http://online.barrons.com/article/SB119102541446143335.html?mod=googlenews_barrons
Here is an audio report from David Murry...
David is one of the Drivers for the Nissan race cars.
http://www.davidmurry.com/07_utah/utah_murry.MP3
This expains what happened to four of the five Nissans at the last race date.