23rd Sep 2015 10:05
(Correcting that Catacel supplied services to CompactGTL, not to Velocys.)
LONDON (Alliance News) - Gas-to-liquids company Velocys PLC on Wednesday said it has reached a settlement with chemicals company Johnson Matthey PLC on the patent infringement case it filed against the FTSE 100 company in the US.
Velocys filed the infringement case against Catacel, which Johnson Matthey bought in September 2014, back in 2010, claiming it had infringed on a number of Velocys' patents. Catacel had been supplying catalysts to CompactGTL Ltd's gas-to-liquids demonstration unit at a facility in Brazil run by state oil giant Petrobras.
Velocys won a patent infringement case against CompactGTL in the UK last year, when it was ruled that CompactGTL was infringing two patents owned by Velocys.
Under the terms of the settlement, Johnson Matthey will pay Velocys an undisclosed amount in recognition of its intellectual property.
Velocys shares were up 3.9% at 80.00 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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