Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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

University of Tehran Researchers Invent Non-Enzyme Sensor to Detect Blood Sugar April 23rd, 2014

Gold nanoparticles help target, quantify breast cancer gene segments in a living cell April 23rd, 2014

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

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

Characterizing inkjet inks: Malvern Instruments presents new rheological research April 23rd, 2014

NanoSafe, Inc. announces the addition of the Labconco Protector® Glove Box to its NanoSafe Tested™ registry April 23rd, 2014

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Energy

Atomic switcheroo explains origins of thin-film solar cell mystery April 23rd, 2014

Like a hall of mirrors, nanostructures trap photons inside ultrathin solar cells April 22nd, 2014

Global leader in solar cell manufacturing eyes New York for major expansion outside of Japan: CNSE and Solar Frontier Explore $700 Million Investment, Job Creation in New York State April 22nd, 2014

Nanoreporters tell 'sour' oil from 'sweet': Rice University's hydrogen sulfide nanoreporters gather intel on oil before pumping April 22nd, 2014

Automotive/Transportation

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Relieving electric vehicle range anxiety with improved batteries: Lithium-sulfur batteries last longer with nanomaterial-packed cathode April 16th, 2014

Tiny particles could help verify goods: Chemical engineers hope smartphone-readable microparticles could crack down on counterfeiting April 15th, 2014

Nanotech Business Review 2013-2014 April 9th, 2014

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







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE