The Thompson Coupling is the world's first constant velocity universal joint that has no load bearing sliding surfaces.

While that may not mean much to the average person, inventor and chairperson of Thompson Couplings Ltd, Glenn Thompson, is confident saving on fuel will.

"Given the rising cost of fuel that impacts on every family budget this will make a difference," Mr Thompson said.

"This is a smooth, powerful, durable and efficient product.

It speaks for itself more efficiency means less fuel and that means savings for the end user."

In addition to its application in light vehicles Mr Thompson said his coupling had a variety of potential uses and adaptations.

Testing carried out at the Thompson Couplings test factory in Orange has confirmed the product has many advantages over existing commercial CV couplings and universal joints.

"The trucking, marine, agriculture and aviation industries could all utilise this product," Mr Thompson said.

"The sky's the limit."

Last week a patent was granted for the Thompson Coupling in China, opening up a wealth of opportunity for the Australian owned Orange based company.

"China is significant," Mr Thompson said.

"It's a burgeoning tiger economy so being granted the patent there is a real coup for us."

Thompson Couplings now holds patents in New Zealand, Singapore, South Africa and China with patents pending in a number of other countries including Japan and the US.

Thompson Couplings Ltd is undertaking a fundraising venture to enable the manufacture and marketing of the product.

An offer of statement has been released. An open day will be held at the company's test factory at 30 Lords Place on August 12.