Power Oxidizer means a pressurized packed bed reactor vessel, including interfaces with a D-R Gas Turbine, implementing the Fundamental Process, as further described in the applicable Annex A attached hereto. The initial Annex A to this Agreement will be labeled, "Annex A-1," and any subsequent Annex A the Parties mutually agree to will be labeled sequentially Annex A-2, A-3, etc. For the avoidance of doubt, each Annex A to this Agreement will define the Specifications for the applicable Power Oxidizer thereunder only, and the Specifications contained in another annex for a Power Oxidizer therein will not apply with respect to any other Annex A.
We continued to innovate, grow, and expand the Ener-Core Power Oxidizer technology to integrate into larger sized power capacities, which is an important accomplishment as these larger sizes provide a far greater economic value for the end customers.
In September of 2016, Dresser-Rand agreed to pay its initial license fee of $1.1 million as we achieved the substantial integration of our 2-megawatt Power Oxidizer with their KG2 gas turbine.
The Parties will establish a Joint Oversight Team as listed in Annex C; and through the Joint Oversight Team, cooperate in biennial joint review processes for both manufacturing and commercialization of the Combined System, and share lessons learned from the Power Oxidizer and Fundamental Process technology applications outside of the License range.
For those investors new to Ener-Core, it is critical that you understand our value proposition and the size of the market opportunity we're addressing with our unique Power Oxidizer technology.
The shipment and successful power up was a momentous occasion for us at Ener-Core and demonstrated that we've successfully completed and deployed a commercial scale-up of the power capacity of the Power Oxidizer technology from 250-kilowatts to 2-megawatts over the last 18 months.