logo
  Join        Login             Stock Quote

Valence Technology (VLNC) Settles Lithium Metal Phosphate Patent Dispute With Hydro-Quebec

 June 13, 2012 10:42 AM
 


(By Balaseshan) Valence Technology Inc. (NASDAQ:VLNC), a maker of advanced energy storage solutions, said it entered into a patent dispute settlement agreement with Hydro-Quebec related to lithium metal phosphate technology.

Valence said the settlement agreement resolves existing litigation with no monetary payment made by either side, and each party bearing its own costs and attorneys fees.

Under the terms of the settlement, all claims in the litigation have been dismissed and Valence Technology is free to sell its proprietary lithium magnesium metal phosphate products, without liability to The University of Texas, Hydro-Quebec, or any of their related entities.

[Related -Closing Update: Stocks Lower, Trim Losses Late]

In addition, Valence Technology's customers and suppliers are also removed from any liability related to the lawsuit.

Valence Chief Executive Robert Kanode said this settlement ends an almost eight year legal dispute and the company believes would help accelerate broad-based market penetration of lithium metal phosphate products.

In February 2012, Valence prevailed in seeking the dismissal of an appeal by Hydro-Quebec (HQ) of a decision of the European Patent Office revoking a HQ European patent related to lithium metal phosphate technology.

In May 2011, a U.S. District Court judge accepted the Special Master's Markman Report in the patent infringement lawsuit filed by Hydro-Quebec. Valence believed the adoption of the Special Master's Report set the definitions for terms in the claims of the two patents in suit are favorable to its positions of non-infringement and invalidity as set out in its pleadings in the lawsuit.

[Related -Insider Weekends – December 10, 2010]

Valence develops, manufactures and sells dynamic energy systems utilizing its phosphate-based lithium-ion technology. The company engaged in the development of lithium iron magnesium phosphate dynamic energy storage systems.

VLNC is trading up 2.45% at $0.543 on Wednesday. The stock has been trading between $0.51 and $1.34 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.