Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Oxonica University spin-out Oxonica loses high court appeal

Abstract:
Neuftec Limited, the proprietor of a new, highly successful technology producing greener diesel (the original nano-particulate cerium oxide fuel catalyst previously sold by Oxonica as EnviroxTM), announced today that Oxonica has failed in their challenge to a High Court ruling that upheld Neuftec's license rights in a dispute with Oxonica Energy Limited.

Oxonica University spin-out Oxonica loses high court appeal

London, UK | Posted on July 9th, 2009

Oxonica Energy is a wholly owned subsidiary of Oxonica PLC, the Aim-listed Oxford University spin-out, chaired by former Dragon's Den TV star Richard Farleigh. Since 2002 EnviroxTM has represented approximately 95% of Oxonica Energy Limited's sales.

Oxonica had asked the Appeal Court to overturn a High Court ruling last September where Mr. Peter Prescott QC, Deputy Judge at the High Court in London ruled that "…royalties are payable in respect of any product, process or use falling within the scope of any claim of the PCT application as appended to the Licence Deed, and nothing else. Envirox 2 is a Licensed Product as defined, and attracts royalties accordingly."

The appeal trial was heard before The President Of The Queen's Bench Division Lord Justice May, The Right Honourable Lord Justice Jacob and The Right Honourable Lady Justice Arden at the Court of Appeal in June 2009 and judgment was issued today.

Ronen Hazarika, co-founder of Neuftec said,

"We are absolutely delighted that the Court of Appeal has upheld the High Court's decision. The High Court judgment was very carefully reasoned. In consultation with our experienced legal team, we decided that was little chance of Oxonica being successful in appealing the decision.

Neuftec has made every effort to find an amicable solution prior to the original legal proceedings and also to negotiate settlement post judgment last year. We flew to the UK to meet Oxonica Chairman, Mr. Richard Farleigh & Oxonica CEO, Dr. Kevin Matthews to discuss post judgment settlement. In the end we made an offer that was slightly less than Oxonica wanted to pay for settlement of all litigation combined with an undertaking not to commence fresh proceedings against each other. Mr. Farleigh rejected this offer and preferred to commence the Court of Appeal proceedings. I'm sure the costs incurred by both parties since Mr. Farleigh's decision to dismiss our offer is far in excess of the shortfall we wanted for full & final settlement, which I am sure will annoy their shareholders . "

Neuftec will now ensure that a leading firm of forensic accountants complete the audit of Oxonica's records and to verify various large discrepancies in Oxonica's account of sales of EnviroxTM and ‘Envirox 2' and to see whether Neuftec is also entitled to a 25% share of Oxonica's profits from fuel additive sales plus a £1 million milestone payment as defined by the Neuftec license. Neuftec intends to urgently reclaim all sums due, including royalties of approximately £400,000, legal costs together with interest from Oxonica.

Neuftec will make a decision on the filing of fresh claims in the High Court in relation to Oxonica's on-going sales of ‘Envirox 2'. Neuftec filed a separate patent infringement action against Oxonica in June 2008 relating to sales of EnviroxTM that infringe Neuftec's European patents. Oxonica has previously confirmed that, contrary to its earlier undertakings, it has sold EnviroxTM (originally licensed from Neuftec) in Europe, post the termination of the licence agreement.

####

About Neuftec Limited
Neuftec is a research & development company that owns patents in the fuel catalyst technology sector used in the production of the first version of EnviroxTM (2001-2007) that was manufactured by Advanced Nanotechnology of Australia under a manufacturing licence granted by Oxonica with authorisation from Neuftec. On 29 February 2008, IP Australia issued a re-examination report in respect of Neuftec's Australian patent. The patent had been issued in 2006 with 10 claims. In the re-examination report, IP Australia confirmed the patentability of the 10 claims as originally granted in 2006 in re-examination proceedings initiated by Oxonica. Neuftec is also opposing the grant of an Oxonica patent relating to doped cerium oxide fuel additives in Australia. The Neuftec technology is now utilized by Energenics Pte Ltd in its EnercatTM fuel additive.

Contacts:
Ronen Hazarika
Neuftec Limited Tel. +65 9633 8072

Copyright © Neuftec Limited

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Sirrus's Issued Patent Portfolio Continues To Accelerate July 18th, 2018

FEFU scientists reported on toxicity of carbon and silicon nanotubes and carbon nanofibers: Nanoparticles with a wide range of applying, including medicine, damage cells of microalgae Heterosigma akashivo badly. July 18th, 2018

In borophene, boundaries are no barrier: Rice U., Northwestern researchers make and test atom-thick boron's unique domains July 17th, 2018

Tuning into quantum: Scientists unlock signal frequency control of precision atom qubits July 16th, 2018

Legal

SUNY CNSE and Albany Law School Partner to Create First-of-its-Kind Nanotechnology Education and Training Program November 5th, 2013

US Court of Appeals characterizes Wyatt Technology Corporation Lanham Act claims as “groundless, unreasonable, vexatious or pursued in bad faith” May 31st, 2013

Fluidigm Files Lawsuit against NanoString’s Deceptive Marketing: Fluidigm Sues NanoString for False and Misleading Advertising under the Lanham Act November 8th, 2012

Photonic gels are colorful sensors: Rice, MIT researchers create thin-film polymer metamaterial with potential for many uses October 10th, 2012

Announcements

Sirrus's Issued Patent Portfolio Continues To Accelerate July 18th, 2018

FEFU scientists reported on toxicity of carbon and silicon nanotubes and carbon nanofibers: Nanoparticles with a wide range of applying, including medicine, damage cells of microalgae Heterosigma akashivo badly. July 18th, 2018

In borophene, boundaries are no barrier: Rice U., Northwestern researchers make and test atom-thick boron's unique domains July 17th, 2018

Tuning into quantum: Scientists unlock signal frequency control of precision atom qubits July 16th, 2018

Energy

NIST Researchers Simulate Simple Logic for Nanofluidic Computing June 30th, 2018

Northwestern researchers achieve unprecedented control of polymer grids: Materials could find applications in water purification, solar energy storage, body armor June 22nd, 2018

Physicists devise method to reveal how light affects materials: The new method adds to the understanding of the fundamental laws governing the interaction of electrons and light June 15th, 2018

Tripling the Energy Storage of Lithium-Ion Batteries: Scientists have synthesized a new cathode material from iron fluoride that surpasses the capacity limits of traditional lithium-ion batteries June 14th, 2018

Automotive/Transportation

Leti and Oscaro Partner on Leti’s New Low-Power, Low-Cost Transceiver to Track Parcels July 12th, 2018

GLOBALFOUNDRIES Surpasses $2 Billion in Design Win Revenue on 22FDX® Technology : With 50 client designs and growing, 22FDX proves its value as a cost-effective solution for power-sensitive applications July 9th, 2018

Leti & Partners Launch Pilot Program to Assess New Perception Sensors for Autonomous Vehicles July 5th, 2018

GLOBALFOUNDRIES to Deliver Socionext’s Next Generation Graphics Controller for Advanced In-Vehicle Display Applications: 55nm LPx platform, with SST’s highly reliable embedded SuperFlash®, enables enhanced features and security protection for remote display applications June 28th, 2018

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project