It's pretty much the first step along a very long road.
The two parties have come to an agreement of terms in which Finland Oy has agreed to, for a price, allow UTRM to develop a product based on their patented pump technology.
Just what else Oy provides, we don't know.
But, someone now has to get the necessary financing in order to get this product manufactured somewhere.
Financing is always the main stumbling block in these situations.