Settlement of US IP infringement case

RNS Number : 9096Z

Velocys PLC

23 September 2015

 

News release

Velocys plc

("Velocys" or "the Company")

23^rd September 2015

Settlement of US IP infringement case

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce that it has come to a settlement with Johnson Matthey PLC (JMAT.L) in the intellectual property infringement case Velocys filed in the US against Catacel Corp ("Catacel"). Catacel was purchased by Johnson Matthey in September 2014.

In April 2010, Velocys filed a lawsuit in the US against Catacel, a supplier of catalysts to CompactGTL Limited's gas-to-liquids demonstration unit at Petrobras' facility in Aracaju, Brazil, claiming infringement of several of the Company's US patents.

Under the terms of the settlement, Johnson Matthey will pay Velocys an undisclosed amount in recognition of its intellectual property, while acknowledging the validity of Velocys' patent rights and committing to respecting them.

Both parties note the successful UK litigation against CompactGTL by Velocys and the finding of infringement of its patent claims relating to CompactGTL's UK pilot plant activities.

Velocys has a very substantial patent portfolio comprising more than 800 patents, covering a broad range of countries, which protects key inventions relevant to smaller scale gas-to-liquids processing. The Company also holds a significant inventory of trade-secrets which it has gained through years of development and practice. Moreover, Velocys actively ensures it maintains strict freedom to operate for its own business.

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For further information, please contact:

Velocys Susan Robertson, CFO and acting CEO	[phone]
Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Advisor	[phone]
Camarco (financial communications & PR) Billy Clegg / Georgia Mann	[phone]

Notes to editors

About Velocys

Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas or biomass into premium liquid products such as diesel and jet fuel. Smaller scale GTL adds value to shale gas and bio-waste, and makes stranded or flared gas economic - an untapped market of up to 25 million barrels per day.

Velocys technology, protected by over 800 patents, is specifically designed for smaller scales, combining super-active catalysts with intensified reactor systems. The Company's standardised modular plants are easier to ship and faster to install, at lower risk, even in the most remote or challenging locations. Together with world-class partners, Velocys works flexibly to unlock gas resources of 15,000 to 150,000 mmbtu per day, allowing more companies to take advantage of more opportunities.

Velocys plc is listed on the AIM market of the London Stock Exchange (LSE: VLS). The Company is well capitalised and has a multi-disciplinary staff of over 100 operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. Its first commercial plant, funded by Waste Management (NYSE: WM), NRG Energy (NYSE: NRG) and Ventech Engineers, is expected to reach mechanical completion in H1 2016.

www.velocys.com 

Think Smaller™. Velocys is changing the way fuels are made.

 

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