Project code named Victor Sierra focuses on producing emulsified marine fuel oil based on the invention of Japan based company, Project Victor.
Singapore is the world's largest market for marine fuel oil with record sales in excess of 40 million metric tonnes which is worth approximately US$28B in 2011.
Global market size for marine fuel oil is estimated at between US$2.5T - US$3.1T at 2012.
A director of a Tokyo based listed company introduced ECube to the South Korean representative of Project Victor. The South Korean representative is the former largest shareholder and president of Japan's largest real estate company in mid 1980s. Accompanying the South Korean representative is one of the former shareholders of Formula One (Japan rights).
Incubation agreement signed between Project Victor and ECube.
South Korean representative and team visited Singapore.
South Korean representative and ECube met in Hong Kong.
ECube made a trip to visit the factory of Project Victor.
ECube identified a Singapore Stock Exchange mainboard listed company, with 40 years of solid and established history in the oil and gas industry, as the potential strategic investor.
Chairperson of the mainboard listed company visited Project Victor.
Negotiation begins in Singapore.
First MOU signed. First incubation agreement completed.