American Power Group Corporation buys all IP related to its dual fuel technology

In Iowa, American Power Group Corporation announced the completion of the purchase of all patents, technology and related intellectual property associated with its dual fuel technology.

Pursuant to the terms of the May 2018 Patent and Technology Installment Purchase Agreement between APG, M&R Development, Inc. and Clean Power Technology, LLC, APG paid $5 million and agreed to apply $1,030,000 of amounts owed by M&R to the Company towards the overall purchase price of $6,030,000.