Hotz will drive away in his Nissan 350Z later today after a presentation at CertiCell's headquarters in Kentucky.
Hotz revealed last week that he had developed a process for untethering the iPhone from the AT&T network, allowing the device to work on other GSM compatible networks.
Such unlocked phones can be used in Europe where mobile networks are predominately GSM.
"On 27 August Hotz and Certicell jointly announced an agreement for the famous iPhone and the related unlocking technology," Certicell said in a statement.
"As part of the transaction, Hotz agreed to a consulting agreement with the company. In exchange, Hotz will receive a new Nissan 350Z along with three new iPhones."
Certicell said that it will make a "formal announcement" on 14 September concerning its intentions for the iPhone.
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