18th Mar 2014 13:10
LONDON (Alliance News) - Hydrodec Group PLC Tuesday said it has filed a provisional patent application to protect operating and design intellectual property innovation in its original re-refining technology developed over eight years of commercial operation.
The company said the submission of this provisional patent reinforces the ongoing commercial protection of its proprietary technology leadership in the production of sustainable and high quality transformer oil products at market competitive prices.
Hydrodec said it licensed the original patent for the production of electrical insulating oil from used oil from CSIRO, Australia in 2004, with the full rights assigned in 2009.
CSIRO is the Commonwealth Scientific and Industrial Research Organisation, Australia's national science agency.
"The innovation contained in this new patent application will enhance process economy, reliability and consistency while operationally simplifying the core re-refining technology" the cleantech industrial oil re-refining group said.
Hydrodec said submission of a new application at this stage establishes a "priority date" for the technology giving it precedence for protection of the intellectual property, while allowing up to a year to file a complete patent application.
The stock was trading at 12.90 pence Tuesday, up 0.27 pence or 2.2%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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