Over the past months, we have seen two ultracapacitor companies battling in court over patent infringement. It looks like they have come to a mutual understanding.
Several days ago, a press release announced that Maxwell Technologies and NessCap Co., Ltd. have signed a Memorandum of Understanding to immediately halt all ongoing patent infringement litigation between the two companies. The exact framework and specifics of the settlement will remain confidential pending the final agreement and execution of definitive agreements.
I can't wait to see the specifics of the mutal agreement between the two companies.
SAN DIEGO and SEOUL, South Korea, May - Maxwell Technologies, Inc. (Nasdaq: MXWL) and NessCap Co., Ltd. announced today that the companies have agreed to a framework for settling the patent disputes relating to their respective ultracapacitor products and have signed a Memorandum of Understanding including a provision to immediately halt all ongoing patent infringement litigation between the companies. Proposed settlement terms will remain confidential pending final agreement and execution of definitive agreements.
About Maxwell - Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Its BOOSTCAP® ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation, and telecommunications. Its CONDIS® high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution, and measurement of high-voltage electrical energy. Its radiation-mitigated microelectronic products include power modules, memory modules, and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications.
About NessCap - NessCap is a global leader in technology innovation and product development of ultracapacitors. NessCap features the widest array of standard commercial products in the market from 3 farads to 5,000 farads with industry recognized alternative organic electrolytes. NessCap products are available in both cells and modules for the transportation, power, and consumer markets.
Readers have left 4 comments.
Wow! Maxwell stocks are taking off again. The have nearly doubled since our last look Dec.28,2007 and have recovered nicely to Sept.'07 price ranges.
In fact they gained $0.99 today (7.85%) over May 26th close. (gasp)
Does this indicate the Nesscap mess is really over? Blue skies ahead!
Have you ever tried to contact Maxwell.. they SUCK! Try to call them sometime to ask a question. They are horrible!
No.3 Director of Research
Until the terms come out it's still ab it of a cloud. Although both companies should have incentive to work together given the stage of the market. If Maxwell has an IR/PR problem they need to address it. Maybe we'll try and contact them and see what kind of response we get. Their IR presentation is decent at least.
the both settled with each other.